Welcome to our dedicated page for Travel+Leisure Co news (Ticker: TNL), a resource for investors and traders seeking the latest updates and insights on Travel+Leisure Co stock.
Travel + Leisure Co. (NYSE: TNL) is a leisure travel company with operations centered on vacation ownership and membership-based travel services. News about Travel + Leisure Co. often highlights developments in its vacation ownership segment, its Travel and Membership segment and its broader leisure travel portfolio.
Investors and travelers following Travel + Leisure Co. can expect news on topics such as quarterly financial results, segment performance and updates on the company’s strategy in vacation ownership and travel membership. Earnings releases describe metrics like net revenues, net vacation ownership interest sales, gross VOI sales and transaction trends in the Travel and Membership segment, along with commentary from management on business performance.
Coverage also includes announcements related to capital markets and financing, such as amendments to the company’s Credit Agreement, the establishment or refinancing of revolving credit facilities, the repricing of term loan facilities, the issuance of senior secured notes and the completion of term securitization transactions backed by timeshare receivables. These items provide insight into the company’s cost of capital, leverage and liquidity.
News about Travel + Leisure Co. may feature updates on its travel brands and membership platforms, including RCI, which is part of the Travel and Membership business and operates a vacation exchange platform for members. Press releases can describe new or enhanced travel benefits, partnerships and program features that affect members’ options for vacations and exchanges.
This page aggregates company-specific headlines, allowing readers to review Travel + Leisure Co. news related to financial results, capital structure, segment initiatives and membership travel offerings in one place.
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Travel + Leisure Co. (NYSE:TNL) announces the appointment of Sy Esfahani as Chief Technology Officer. With over 30 years of experience in technology leadership within travel, hospitality, and finance, Esfahani will align technology initiatives with the company’s strategic goals. Previously serving as CIO for Qatar Airways and MGM Resorts, he aims to enhance the company's tech platform to support its four-year growth strategy focused on new membership and subscription travel businesses. Esfahani will report directly to CEO Michael D. Brown.
Travel + Leisure Co. (NYSE:TNL) has priced a private offering of $650 million in senior secured notes due 2029. The offering, expected to close on November 18, 2021, aims to use proceeds to redeem existing 4.25% secured notes maturing in March 2022 and cover related expenses. The new notes will carry a 4.50% interest rate, payable semi-annually, and will mature on December 1, 2029. This offering is targeting qualified institutional buyers and is subject to standard market conditions.
Travel + Leisure Co. (NYSE:TNL) has appointed Lucinda Martinez to its Board of Directors effective November 11, 2021. Martinez, an expert in global marketing from HBO and Netflix, will provide insights into subscriber business development and diverse marketing strategies. Her experience is expected to guide the company's expansion into new travel subscription services and enhance its presence in the leisure travel market. The chairman emphasized the importance of her expertise during this growth phase.
Travel + Leisure Co. (NYSE:TNL) announced a private offering of $650 million in senior secured notes due 2029. The proceeds will be utilized to redeem existing 4.25% secured notes due March 2022 and cover related fees. The offering is available only to qualified institutional buyers and adheres to the Securities Act's regulations. Forward-looking statements are included, highlighting potential risks such as economic conditions and the COVID-19 pandemic. The company emphasizes its role in the leisure travel industry, providing services through multiple brands.
Travel + Leisure Co. (NYSE:TNL) has announced an increase in its quarterly cash dividend from $0.30 to $0.35 per share, payable on December 30, 2021, to shareholders on record as of December 15, 2021. This annualized dividend rises to $1.40 per share, marking a nearly 17% increase from the previous annualized rate of $1.20. CFO Mike Hug highlighted this increase as evidence of the company’s confidence in its business resilience and commitment to returning value to shareholders through free cash flow deployment.
Travel + Leisure Co. (NYSE:TNL) reported strong third quarter 2021 results, achieving a net income of $101 million, or $1.15 per diluted share, on revenues of $839 million. The company's adjusted EBITDA was $228 million, with adjusted diluted EPS of $1.19. Cash flow metrics were robust, with $435 million from operations and adjusted free cash flow of $128 million for the first nine months. The company raised its full-year adjusted EBITDA guidance to $740-$750 million and diluted EPS guidance to $3.35-$3.43. A fourth-quarter dividend of $0.35 per share is recommended, following a $1 billion credit facility renewal and a $350 million securitization.
Travel + Leisure Co. (NYSE:TNL) has successfully completed a term securitization transaction, issuing $350 million of asset-backed notes. The issuance includes approximately $126 million in Class A Notes with a coupon of 1.35%, among others, with an overall weighted average coupon of 1.82%. The strong demand led to a tightening of spread levels across the capital structure, indicating robust investor confidence. This transaction was executed under Rule 144A and Regulation S, ensuring compliance with securities laws.
Travel + Leisure Co. (TNL) has released its 2020-2021 Social Responsibility Report, highlighting its commitment to social responsibility through various initiatives. The company achieved water withdrawal goals six years early and has set a new target to reduce water usage by 35% by 2025. It established the Travel + Leisure Charitable Foundation and aims to enhance diversity in leadership roles. Additionally, TNL has developed safety plans for returning to work amid COVID-19. This report marks the first under the new company name following its acquisition of Travel + Leisure.
Travel + Leisure Co. (NYSE:TNL) will release its third quarter 2021 financial results on October 27, 2021, before market open. A conference call hosted by CEO Michael D. Brown and CFO Mike Hug will follow at 8:30 a.m. ET to discuss financial performance and business outlook.
Interested participants can join via a webcast on the company’s investor website, with an archive available for 90 days post-call. A telephone replay will be accessible for four days after the call.