Welcome to our dedicated page for Travel+Leisure news (Ticker: TNL), a resource for investors and traders seeking the latest updates and insights on Travel+Leisure stock.
Travel + Leisure Co. reports developments in leisure travel, vacation ownership and membership-based travel brands. The company develops, markets and sells vacation ownership interests, provides consumer financing tied to VOI sales, manages resort properties and operates travel club and exchange businesses through brands that include Club Wyndham, WorldMark, RCI, Margaritaville Vacation Club, Accor Vacation Club, Eddie Bauer Adventure Club and Sports Illustrated Resorts.
Recurring news centers on quarterly operating results, gross VOI sales, tour activity, resort optimization, brand expansion and partnerships. Company updates also cover capital-structure actions such as secured note offerings, credit facilities and term securitizations backed by notes receivable.
Travel + Leisure Co. (NYSE:TNL) reported a strong first quarter for 2023, with a net income of $64 million and $879 million in net revenue, marking a 9% year-over-year increase. Adjusted EBITDA reached $184 million, contributing to a 29% increase in adjusted EPS to $0.89. The company has raised its full-year adjusted EBITDA guidance to $925-$945 million, driven by robust consumer travel demand. Vacation Ownership revenue increased 12% to $685 million, with gross VOI sales up $75 million due to more tours conducted. However, Travel and Membership revenue was flat at $200 million, with adjusted EBITDA declining by 13%. The company maintained a leverage ratio of 3.7x and repurchased 2.5 million shares for $102 million.
Caravan Wellness has announced a partnership with Travel + Leisure GO, allowing club members exclusive access to wellness video content. This collaboration aims to enhance the travel experience by helping members prepare mentally and physically for their vacations. As part of this initiative, Travel + Leisure GO provides members with curated health and wellness videos, focusing on fitness, meditation, and stress management. The club, known for its significant travel discounts and personal concierge services, is currently offering a special annual membership rate of $69.95, which includes a $30 travel credit. This partnership positions both companies to better serve the needs of modern travelers.
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Travel + Leisure has released its 18th annual It List, highlighting the 100 best new and renovated hotels worldwide, covering 37 countries and six continents. The 2023 It List features properties such as beach resorts, luxury city hotels, and wellness retreats, showcasing a diverse range of accommodations.
This year, 34 of the selected hotels are located in the United States, including destinations like Sedona and Montauk. The list includes 35 hotels in North America, 32 in Europe, 13 in the Caribbean and Central/South America, 10 in Africa and the Middle East, 8 in Asia, and 2 in Australia.
The selection process involved comprehensive reviews of hundreds of properties, ultimately narrowing down to these top 100 hotels.
Travel + Leisure Co. (NYSE:TNL) has successfully concluded a $250 million term securitization transaction, issuing asset-backed notes with a weighted average coupon of 6.33%. The company issued $95 million in Class A Notes at a 5.20% coupon, $66 million in Class B Notes at 5.83%, $60 million in Class C Notes at 7.00%, and $29 million in Class D Notes at 9.80%. The transaction achieved a high advance rate of 91.25%, reflecting strong investor confidence, as each tranche was oversubscribed multiple times. This marks Travel + Leisure's first term securitization of 2023.
WorldMark by Wyndham is introducing Planting Seeds, a new pilot program at WorldMark Portland Waterfront Park. This initiative, led by master regenerative urban farmer Daniel Campbell, aims to promote urban permaculture through interactive workshops. Guests will learn sustainable practices to grow their own food and contribute to local food security. Each month, the workshops will cover various topics, including soil health and biochar. The program aligns with growing traveler interest in sustainability, as nearly 80% of American travelers prioritize eco-friendly practices. WorldMark plans to expand this initiative to over 20 urban locations in the future.
Travel + Leisure Co. (NYSE:TNL) will release its first quarter 2023 financial results on April 26, 2023, before market opening. Following the release, a conference call will be held at 8:30 a.m. ET featuring CEO Michael D. Brown and CFO Mike Hug discussing the company's financial performance and future outlook. Interested participants can join the call via webcast or telephone, with a replay of the event available on the company’s website for 90 days. Travel + Leisure Co. is a leading leisure travel company serving over six million vacations annually through its timeshare resorts and various membership products.
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Wyndham Hotels & Resorts (NYSE: WH) has signed a multi-season partnership with Minor League Baseball (MiLB), becoming the Official Hotel Partner and bringing its Wyndham Rewards program into 120 ballparks. This deal aims to enhance hotel stays and provide unique experiences for rewards members, such as game tickets and behind-the-scenes access. Wyndham was drawn to MiLB due to its popularity and alignment with their guest demographics. As part of the initiative, Wyndham will have a significant presence at over 8,000 MiLB games, further increasing brand visibility and travel convenience for fans and franchisees.
Wyndham Hotels & Resorts (NYSE: WH) will report its first quarter 2023 results on April 26, 2023 at approximately 4:30 p.m. ET. A conference call with investors will follow on April 27, 2023, at 8:30 a.m. ET, hosted by CEO Geoffrey A. Ballotti and CFO Michele Allen to discuss results and business outlook. The conference can be accessed via the company's website or by calling 800 267-6316. Wyndham is the largest hotel franchising company globally, boasting around 9,100 hotels across over 95 countries, with about 843,000 rooms, appealing primarily to midscale and economy travelers.