Travel + Leisure Co. provides hospitality services and travel products in the United States and internationally through two segments: Vacation Ownership and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, offers consumer financing for VOI sales, and provides property management services at resorts under brands such as Club Wyndham, WorldMark, Margaritaville Vacation Club, Sports Illustrated Resorts, Eddie Bauer Adventure Club, and Accor Vacation Club. The Travel and Membership segment operates travel businesses including vacation exchange brands, travel technology platforms, travel memberships, and direct-to-consumer rentals, and offers business-to-business private-label travel club solutions and booking facilitation. The company has a strategic alliance with Hornblower Group, Inc., was formerly known as Wyndham Destinations, Inc., changed its name to Travel + Leisure Co. in February 2021, was founded in 1990, and is headquartered in Orlando, Florida.
Travel + Leisure Co. Launches Trail Partners Network, Names Under Canvas First Partner
Travel + Leisure Co. announced the introduction of Trail Partners, a new network of outdoor hospitality partners that lets Eddie Bauer Adventure Club owners use their club credits to book stays and excursion add-ons. Under Canvas is the first Trail Partner named, giving owners access to all 18 Under Canvas properties across North America. Owners can book Trail Partner stays through the club's dedicated travel agency, which helps them explore participating destinations, check availability and apply credits toward eligible stays. The Eddie Bauer Adventure Club, operated by Travel + Leisure Co. under a license from Authentic Brands Group, opened its first Basecamp location in Moab, Utah earlier this year. Beyond Basecamps and Trail Partner stays, owners receive 50% off regularly priced Eddie Bauer apparel and gear online, automatic Guide-Tier status in the Eddie Bauer Adventure Rewards Program, and one complimentary annual excursion for two people.
TNL · Demand · Positive Travel + Leisure launches Trail Partners network, expanding its Eddie Bauer Adventure Club offering with bookable outdoor stays, a product/end-demand development.
Under Canvas · Demand · Positive Under Canvas named first Trail Partner, giving its 18 North American properties access to Adventure Club bookings.
Eddie Bauer · Demand · Positive Eddie Bauer Adventure Club owners gain new booking perks and discounts, supporting the licensed Eddie Bauer-branded club's appeal.
Travel + Leisure to pay $975K SEC penalty over misleading loan disclosures
Travel + Leisure agreed to a $975K settlement with the U.S. Securities and Exchange Commission over allegations that the timeshare company misled investors about two undisclosed projects affecting certain performance measures. According to the SEC complaint filed in a Florida U.S. District Court, between October 2019 and February 2021 the company removed delinquent or in-default loans from its timeshare loan portfolio through the right of rescission rule. The 2,900 loans removed from the portfolio totaled roughly $77M in loan balances, including about $34M of defaulted loans, and were reversed in its accounting system as if the loans never existed, which the SEC says materially improved its publicly disclosed loan loss provision and loan loss provision percentage. The complaint also alleges the company set internal targets for the number of delinquent and defaulted loans it needed to rescind to meet its publicly disclosed guidance for the loan loss provision percentage, presenting a materially misleading picture of the performance of its loan portfolio. Travel + Leisure agreed to the $975K civil penalty without admitting any wrongdoing, and the company has not yet responded to Seeking Alpha's request for comment.
Travel+Leisure Co Raises Full-Year EBITDA Guidance After Strong Second Quarter
Travel+Leisure Co reported second-quarter revenue of $1.06 billion and EBITDA of $269 million, a 9% year-over-year increase, while raising its full-year EBITDA guidance to between $1.065 billion and $1.085 billion. Gross VOI sales rose 6% to $693 million, and earnings per share increased 21% year-over-year. The company returned $253 million to shareholders through dividends and share repurchases in the first half of the year, reducing common shares outstanding by 4%. Acquisitions of Yes& Vacations and Spinnaker Resorts added 23 resorts and over 100,000 owners, and the company expects these deals to be immediately accretive to earnings. The Travel and Membership segment saw a 5% revenue decline and an 11% EBITDA decline, reflecting challenges in the exchange business.
Doster Construction breaks ground on $150 million Sports Illustrated Resorts in Tuscaloosa
Doster Construction has broken ground on the new Sports Illustrated Resorts destination in Tuscaloosa, Alabama. The company will serve as general contractor for the approximately $150 million development, which is expected to create around 1,100 construction jobs and 100 permanent jobs upon completion. Located along Rice Mine Road near the Black Warrior River, the project will feature two six-story towers with 75 whole-ownership condominiums and 86 vacation ownership units, plus retail space, bars, a game lounge, coffee bar, and rooftop event space. Construction begins this month, with the resort anticipated to open in 2028. The development is led by Travel + Leisure Co. for Sports Illustrated Resorts, which operates under a license from Authentic Brands Group.
TNL · Demand · Positive Travel + Leisure Co. is leading the development of a $150 million resort, indicating strong demand for its vacation ownership and resort management services.
Doster Construction Company, Inc. · Demand · Positive Doster Construction is the general contractor for a $150 million project, securing a large construction contract.
Authentic Brands Group · Demand · Positive Authentic Brands Group licenses the Sports Illustrated brand for the resort, generating licensing revenue.
Travel + Leisure to report earnings with revenue expected to grow 2.7%
Travel + Leisure is set to report earnings this Wednesday before the bell, with analysts expecting revenue to grow 2.7% year on year, in line with the 3.4% increase recorded in the same quarter last year. The company met revenue expectations last quarter, reporting $961 million, up 2.9% year on year, and beat EPS estimates. Analysts have generally reconfirmed their estimates over the last 30 days, though Travel + Leisure has missed Wall Street revenue estimates multiple times over the last two years. Peers Delta and Carnival have already reported Q2 results, with Delta beating expectations with 18.7% revenue growth and Carnival posting 5.3% growth in line with consensus. Travel + Leisure shares are down 2.9% over the last month, heading into earnings with an average analyst price target of $87.58 compared to the current share price of $72.52.
TNL · Capital · Neutral Company is the subject of the article; upcoming earnings report with expected 2.7% revenue growth, but no actual results yet, so impact is ambiguous.
Travel + Leisure Co. completes $300 million term securitization
Travel + Leisure Co. has completed a $300 million term securitization transaction. The deal involved the issuance of asset-backed notes with an overall weighted average coupon of 5.52% and an advance rate of 98.00%. The notes were issued by Sierra Timeshare 2026-2 Receivables Funding LLC, an indirect subsidiary, and consist of $136 million of Class A Notes at 4.98%, $52 million of Class B Notes at 5.19%, $62 million of Class C Notes at 5.63%, and $50 million of Class D Notes at 7.19%. Chief Financial Officer Erik Hoag stated that the transaction provides efficient access to capital and reflects continued investor demand for the company's receivables platform.
Travel + Leisure acquires 23 resorts, adding $50 million in annual adjusted EBITDA
Travel + Leisure has agreed to acquire 23 resorts from Yes& Vacations and Spinnaker Resorts, with management expecting the combined portfolio to contribute about $50 million in annual adjusted EBITDA. The deal comes as the company's share price has eased in the short term, with recent daily and monthly returns declining, while longer-term total shareholder returns remain strongly positive. Based on the most followed narrative, Travel + Leisure's fair value sits at $74.00, just above the last close of $73.27, suggesting the stock is undervalued. The assumed bearish price target is also $74.00, which is up to two standard deviations below the consensus price target of $87.08.
Goldman Sachs Upgrades Travel + Leisure to Buy, Citing Recurring Fee Income and Asset-Light Model
Goldman Sachs upgraded Travel + Leisure Co. to Buy, emphasizing its recurring fee-based income and limited capital intensity. The upgrade comes ahead of the company's second-quarter 2026 earnings release and conference call on July 22, where fee growth and credit quality will be key focal points. Analysts see the asset-light, fee-driven model as a differentiator within the broader travel sector, though the Travel and Membership segment continues to face structural headwinds. Travel + Leisure's narrative projects $4.4 billion in revenue and $868.7 million in earnings by 2029, implying 2.6% annual revenue growth and a $632.7 million increase from current earnings of $236.0 million. The most bullish analysts estimate revenue could reach about $4.6 billion and earnings about $873 million, highlighting a wide range of views on the company's trajectory.
Travel + Leisure Stock Still Looks Undervalued on Cash Flow and Earnings
Travel + Leisure stock screens as undervalued despite a 110.4% total return over the past three years. A Discounted Cash Flow analysis estimates an intrinsic value of about $147 per share, implying the stock trades at roughly a 47.8% discount to that estimate. The company's P/E ratio of about 20.3x sits below the Hospitality industry average of roughly 23.8x and a peer group average of about 32.3x, while a fair P/E tailored to its profile comes out at about 39.8x. Recent analyst upgrades cite healthy U.S. travel demand and the company's recurring fee income as support for cash flow assumptions. The key question remains whether the apparent discount offers enough compensation for risks around future travel demand and cash flow durability.
TNL · Capital · Positive Analyst upgrades and DCF analysis suggest the stock is undervalued, with a 47.8% discount to intrinsic value and below-average P/E ratios.
Travel + Leisure Co. to report second quarter 2026 results on July 22
Travel + Leisure Co. will release its second quarter 2026 financial results on Wednesday, July 22, 2026, before the market opens. A conference call will follow at 8:30 a.m. Eastern Daylight Time, featuring President and CEO Michael D. Brown and CFO Erik Hoag discussing the company's financial performance and business outlook. Participants can access the live webcast through the company's investor website or by dialing 877-733-4794, with an archived replay available for 90 days starting at noon Eastern Daylight Time on July 22.
Norwegian Cruise Line Q1 revenue misses estimates but EPS beats
Norwegian Cruise Line reported first-quarter revenues of $2.33 billion, up 9.6% year on year but falling 1.2% short of analyst expectations, while earnings per share exceeded estimates. The company's full-year EBITDA guidance missed analyst forecasts, making for a mixed quarter. Among the 19 consumer discretionary travel and vacation providers tracked, aggregate revenues beat consensus by 1.6% but next-quarter revenue guidance came in 8.1% below expectations. Sabre posted the strongest results of the group with revenues of $760.3 million beating estimates by 4.4%, while Delta Air Lines exceeded revenue expectations with $15.85 billion but significantly missed on EPS and next-quarter guidance. Viking achieved the fastest revenue growth among peers at 17.5% year on year, and Travel + Leisure met revenue expectations at $961 million.
Travel + Leisure Director Denny Marie Post Sells 2,500 Shares
Travel + Leisure director Denny Marie Post sold 2,500 shares on May 14, 2026, for approximately $160,000 at around $63.83 per share, according to an SEC filing. The sale represented 55.84% of her direct holdings, reducing her directly held position from 4,477 to 1,977 shares. Post still holds 42,758 deferred shares and 741 restricted shares, which are not available for sale until a future date, indicating she retains a substantial stake in the company. This is her second open-market sale in the past year, following a 5,500-share sale in May 2025, and the smaller trade size reflects a significantly reduced available share base rather than a shift in strategy.
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