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.
On July 1, 2021, Meredith Corporation's MyLife app launched the 'Travel + Leisure's Mindful Travel Collection' in collaboration with Travel + Leisure. This seven-part mindfulness series aids travelers in managing stress and jet lag through meditations, stretches, and sleep exercises. Designed for on-the-go use, each activity lasts from seconds to 10 minutes. The initiative is targeted at helping users feel more comfortable during travels, catering to the growing interest in travel as restrictions ease. The MyLife app is accessible on iOS, Android, and Amazon Alexa.
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RCI, a leader in vacation exchange, received three awards at the 2021 ARDA Timeshare Together Conference. The company earned the ACE Excellence in Customer Service Award for its responsiveness during the COVID-19 pandemic, showcasing its global team's commitment. Additionally, RCI was recognized for the best Integrated Marketing Campaign for its 2020 rebranding initiative and as the top Training and Development Team due to its Global Leadership Bench Program, which nurtures diverse leadership. The awards reflect RCI's resilience and dedication to exceptional service and growth.
Panorama Travel Solutions has announced the addition of six new clients for its Viewpoint Resort & Timeshare Management Software and Owner’s Travel Club products. Notable new clients include Silver Beach Club, Lake Chelan Shores Resort, and Vacationland Estates. The Viewpoint system offers cloud-based management, enhancing resort operations and revenue while reducing costs. The Owner’s Travel Club provides access to discounted travel rewards for 600,000 accommodations worldwide. The response to both services has been positive, indicating a shift in the legacy timeshare industry's technology needs.
Travel + Leisure Co. (TNL) has launched a new strategy to bolster hiring and retention ahead of a busy summer season. The company is offering substantial retention bonuses of up to $1,500 for existing hourly associates and up to $750 for new hires, alongside enhanced referral bonuses of $1,000 for resort positions. Additionally, a pilot program for sales associates allows a hybrid pay structure of salary and bonuses. This initiative aims to strengthen the workforce and improve service quality as leisure travel rebounds in 2021.
RCI, a leading vacation exchange company within the Panorama portfolio, has integrated with Viewpoint PMS, a cloud-based resort management system. This integration enhances efficiency by automating multiple processes such as deposit management and guest notifications, enabling owners to manage their weeks through mobile devices. Viewpoint PMS operates on Amazon Cloud, offering robust security and support. RCI aims to strengthen its service offerings, positioning itself as a competitive force in the timeshare market, serving 3.7 million members globally with access to over 4,200 resorts.
Panorama Travel Solutions announced a partnership with YTexas to establish an exclusive online travel club for its members, enhancing their travel experience with discounts and complimentary travel advisors. This collaboration will also support companies relocating to Texas, aiming to simplify the transition process. With access to over 600,000 hotels and resorts, the travel club will offer significant benefits for employees and stakeholders. This initiative aligns with Panorama's goal to expand its influence in Texas, driven by the need for innovative employee benefits.
Travel + Leisure Co. (NYSE:TNL) has declared a cash dividend of $0.30 per share on its common stock. The dividend is payable on June 30, 2021 to shareholders of record as of June 15, 2021. This marks a continuation of the company's commitment to returning value to its shareholders.
Travel + Leisure Group has announced the launch of a new brand licensing business under Travel + Leisure Co. (NYSE: TNL). This initiative aims to create premium consumer products leveraging the Travel + Leisure brand, allowing the company to expand its offerings beyond traditional media. Phil Raso has been appointed as the Director of Brand Licensing to spearhead this effort. The move is part of a broader strategy to enhance consumer engagement through curated products and services, tapping into the brand's 50 years of expertise in the travel space.
Travel + Leisure Co. (NYSE:TNL) announced its Q1 2021 financial results, reporting a net income of $29 million on revenues of $628 million. Adjusted EBITDA was $129 million with diluted EPS at $0.33. The company generated $78 million in cash from operations and reported $500 million in term securitization, achieving the best terms in its history. Management expects Q2 adjusted EBITDA between $160 million and $170 million and plans to recommend a $0.30 per share dividend. Increased bookings and leisure travel demand signal a recovery.