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.
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Heroes Vacation Club is celebrating its members with a special offer of a seven-night stay for $289 during May. Initially available only to medical professionals and first responders, membership is now extended to educators and all government employees. This initiative coincides with appreciation events such as Teacher Appreciation Week and National Nurses Day. The offer promotes affordable vacations, with options for popular destinations worldwide. Membership is free, offering access to discounts and additional benefits for premium members, enhancing travel options for the heroes of our communities.
Travel + Leisure Co. (NYSE:TNL) reported first quarter 2022 financial results, achieving net income of $51 million and net revenue of $809 million.
Adjusted EBITDA stood at $170 million, with expectations of $855-$875 million for the full year. The company repurchased $45 million worth of stock and proposed a dividend of $0.40 per share.
Vacation Ownership revenue rose by 35% to $604 million, while Travel and Membership revenue increased 15% to $210 million, reflecting strong recovery and growth in leisure travel.
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Wyndham Destinations, the largest vacation ownership business, has announced the completion of solar installations across its resorts, enhancing its commitment to alternative energy. With about 19 properties utilizing over 18,000 solar panels, the company aims for an estimated annual solar output exceeding nine million kilowatt hours. Alongside this, Wyndham is investing in water reduction technologies projected to lower water usage by 15-17%. The company outlined sustainability goals, including 20% renewable energy use by 2030 and a 40% reduction in greenhouse gas emissions by 2025.
Travel + Leisure has unveiled its 2022 It List, featuring 100 newly opened and renovated hotels worldwide. Covering 35 countries, the list includes 41 properties in North America and highlights luxury and budget-friendly options. Editor Jacqui Gifford noted the extraordinary circumstances of recent years, emphasizing the significance of this selection. The It List showcases diverse experiences from urban luxury escapes to beach getaways, and full details can be found at www.travelandleisure.com/it-list.
Club Wyndham celebrates Mother’s Day by offering 20% off select resorts for stays booked by May 2, 2022. This package includes spacious suites with full amenities, and personalized gift baskets featuring wine, snacks, and a themed 'scream pillow'. Available for travel from May 6-8, it caters to both family trips and solo getaways. With over 240 resorts across the U.S., Club Wyndham provides comfortable accommodations for memorable vacations. The deal is designed to help mothers relax and recharge, emphasizing the brand’s commitment to creating enjoyable vacation experiences.
Travel + Leisure Co. (NYSE:TNL) is set to release its first quarter 2022 financial results on April 28, 2022, before market opening. The announcement will be followed by a conference call at 8:30 a.m. EDT, featuring CEO Michael D. Brown and CFO Mike Hug discussing the company's financial performance and outlook. Investors can tune in to the live webcast on the company's website or via telephone. An archived version of the webcast will be available for 90 days post-event.
WorldMark by Wyndham has launched a new Hiking Concierge program in collaboration with national parks expert Ash Nudd. Starting May 1, 2022, travelers booking at select resorts will receive personalized itineraries and tips for exploring iconic parks like Yosemite, Yellowstone, and Zion. This initiative aims to enhance outdoor experiences while providing the comforts of home-style accommodations. The program includes access to customized recommendations and videos from Nudd, further promoting the trend of family-oriented vacations in natural settings.
Travel + Leisure Co. (NYSE:TNL) has successfully completed a term securitization transaction, issuing $275 million in asset-backed notes. The issuance includes approximately $88 million of Class A Notes (3.05% coupon), $81 million of Class B Notes (3.55%), $65 million of Class C Notes (3.94%), and $41 million of Class D Notes (6.00%). The transaction achieved a notable 98% advance rate, showcasing resilience amid market volatility. CFO Mike Hug expressed satisfaction with the terms, emphasizing the liquidity enhancement for the company.