Q4 2025 Travel + Leisure Co Earnings Call Transcript
Key Points
- Travel+Leisure Co (TNL) reported strong financial performance in 2025, with a 4% revenue growth and 7% EBITDA growth.
- The company returned $449 million to shareholders through dividends and share repurchases, demonstrating a commitment to disciplined capital allocation.
- Travel+Leisure Co (TNL) successfully advanced its multi-brand strategy, announcing four new resorts and expanding partnerships with brands like Margaritaville and Accor.
- The Vacation Ownership segment showed robust performance with 8% gross sales growth and a 6% increase in volume per guest (VPG).
- The company launched new digital initiatives, including apps for Club Wyndham and WorldMark, and an AI concierge service to enhance the owner experience.
- The Travel and Membership segment faced challenges, with a 6% decline in revenue and a 10% drop in EBITDA due to exchange headwinds.
- The company undertook a resort optimization initiative, resulting in a non-cash inventory write-down and impairment of $216 million in 2025.
- There is a projected $50 million EBITDA drag in 2026 due to the impact of sales office closures and reduced management fees from fewer resorts.
- The company anticipates a modest decline in volume per guest (VPG) in 2026 due to a deliberate mix shift towards new owners.
- Travel+Leisure Co (TNL) faces ongoing pressure in the Travel and Membership segment, with expectations of continued top-line challenges in 2026.
Greetings and welcome to the Travel + Leisure Co. fourth-quarter 2025 earnings call. (Operator Instructions) It is now my pleasure to introduce your host, Andrew Burns, Vice President of Investor Relations. Thank you. You may begin.
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Thank you, Emily. Good morning, everyone. Before we begin, I would like to remind you that our discussion today will include forward-looking statements. Actual results could differ materially from those indicated in the forward-looking statements, and the forward-looking statements made today are effective only as of today.
We undertake no obligation to publicly update or revise these statements. The factors that could cause actual results to differ are discussed in our SEC filings in our press release accompanying this earnings call.
You can find a reconciliation of the non-GAAP financial measures discussed in today's call in the earnings press release available on our Investor Relations website. Please note
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