Travel + Leisure Co. (NYSE:TNL), the world’s leading membership
and leisure travel company, today reported first quarter 2022
financial results for the three months ended March 31, 2022.
Highlights and outlook include:
- Net income of $51 million ($0.59 diluted earnings per share)
on net revenue of $809 million
- Adjusted EBITDA of $170 million and adjusted diluted
earnings per share of $0.69 (1)
- Net cash provided by operating activities of $141 million
and adjusted free cash flow of $146 million for the first three
months of 2022
- Expects full year adjusted EBITDA from $855 million to $875
million and second quarter adjusted EBITDA from $220 million to
$230 million
- Repurchased $45 million of common stock in the first
quarter
- The Board of Directors approved an increase to the
authorized capacity of the Company's share repurchase program by
$500 million in April 2022
- Management will recommend a second quarter dividend of $0.40
per share for approval by the Board of Directors
“Leisure travel is back and Travel + Leisure Co. benefited from
families returning to vacation in the first quarter after a long
hiatus due to the pandemic,” said Michael D. Brown, president and
CEO of Travel + Leisure Co.
“We continue to see record-setting sales volume per guest from
our timeshare business and we expect occupancy for the remainder of
the year to be above 2019 as we anticipate a robust travel season
in North America. Our strong revenue and Adjusted EBITDA in the
quarter give us confidence in the year ahead as families appreciate
more than ever that vacation ownership is a preferred way to
vacation in a period where travel costs are rising.”
Business Segment Results
Vacation Ownership
$ in millions
Q1 2022
Q1 2021
% change
Revenue
$604
$449
35 %
Adjusted EBITDA
$103
$66
56 %
Vacation Ownership revenue increased 35% to $604 million in the
first quarter of 2022 compared to the same period in the prior
year. Gross vacation ownership interest (VOI) sales were $379
million compared to $236 million in the prior year and tours were
108,000 during the quarter compared to 76,000 in the same period
last year. Volume Per Guest (VPG) increased 19% to $3,377.
First quarter adjusted EBITDA was $103 million compared to $66
million in the prior year period. The increase was driven by higher
Gross VOI sales due to the ongoing recovery of operations from
COVID-19 and continued improvement in the provision for loan
losses.
Travel and Membership
$ in millions
Q1 2022
Q1 2021
% change
Revenue
$210
$183
15 %
Adjusted EBITDA
$84
$75
12 %
Travel and Membership revenue increased 15% to $210 million in
the first quarter of 2022 compared to the same period in the prior
year. The increase was driven by higher transaction revenue due to
improved revenue per transaction and growth in B2B Travel Club
transactions.
First quarter Adjusted EBITDA was $84 million compared to $75
million in the prior year due to the revenue increase.
Balance Sheet and
Liquidity
Net Debt — As of March 31, 2022, the Company had net debt
of $3.0 billion comprised of $3.4 billion of corporate debt and
$381 million of cash and cash equivalents. The corporate debt
excludes $1.9 billion of non-recourse debt related to its
securitized notes receivables portfolio. The Company's leverage
ratio for covenant purposes was 3.8x. At the end of the first
quarter, the Company had $1.4 billion of liquidity in cash and cash
equivalents and revolving credit facility availability.
Timeshare Receivables Financing — The Company closed on a
$275 million term securitization on March 23, 2022 with a weighted
average coupon of 3.84% and a 98% advance rate. Additionally, the
Company renewed its USD timeshare receivables conduit facility with
a borrowing capacity of $600 million and extended its term to July
2024.
Cash Flow — For the three months ended March 31, 2022,
net cash provided by operating activities was $141 million,
compared to $78 million in the prior year period. Adjusted free
cash flow was $146 million for the three months ended March 31,
2022 compared to $20 million in the same period of 2021.
Share Repurchases — During the first quarter of 2022, the
Company repurchased 0.8 million shares of common stock for $45
million at a weighted average price of $56.15 per share. As of
March 31, 2022, the Company had $283 million of remaining
availability under its share repurchase program. In April 2022, the
Board of Directors approved an increase to the authorized capacity
of the Company's share repurchase program by $500 million.
Dividend — The Company paid $35 million ($0.40 per share)
in cash dividends on March 31, 2022 to shareholders of record as of
March 15, 2022. Management will recommend a second quarter dividend
of $0.40 per share for approval by the Company’s Board of Directors
in May 2022.
Outlook
The Company is providing guidance regarding expectations for the
2022 full year:
- Adjusted EBITDA of $855 million to $875 million
- Gross VOI sales of $1.9 billion to $2.0 billion
- VPG of approximately $3,200
The Company is providing guidance regarding expectations for the
second quarter 2022:
- Adjusted EBITDA of $220 million to $230 million
- Gross VOI sales of $500 million to $520 million
- VPG of approximately $3,300
This guidance is presented only on a non-GAAP basis because not
all of the information necessary for a quantitative reconciliation
of forward-looking non-GAAP financial measures to the most directly
comparable GAAP financial measure is available without unreasonable
effort, primarily due to uncertainties relating to the occurrence
or amount of these adjustments that may arise in the future. Where
one or more of the currently unavailable items is applicable, such
items could be material, individually or in the aggregate, to GAAP
reported results.
Conference Call
Information
Travel + Leisure Co. will hold a conference call with investors
to discuss the Company’s results and outlook today at 8:30 a.m.
EDT. Participants may listen to a simultaneous webcast of the
conference call, which may be accessed through the Company's
website at investor.travelandleisureco.com, or by dialing
866-831-8713, passcode TNL, 10 minutes before the scheduled start
time. For those unable to listen to the live broadcast, an archive
of the webcast will be available on the Company's website for 90
days beginning at 12:00 p.m. EDT today. Additionally, a telephone
replay will be available for four days beginning at 12:00 p.m. EDT
today at 800-839-6980.
Presentation of Financial
Information
Financial information discussed in this press release includes
non-GAAP measures such as adjusted EBITDA, adjusted diluted EPS,
adjusted free cash flow, gross VOI sales and adjusted net
income/(loss), which include or exclude certain items, as well as
non-GAAP guidance. The Company utilizes non-GAAP measures, defined
in Table 6, on a regular basis to assess performance of its
reportable segments and allocate resources. These non-GAAP measures
differ from reported GAAP results and are intended to illustrate
what management believes are relevant period-over-period
comparisons and are helpful to investors when considered with GAAP
measures as an additional tool for further understanding and
assessing the Company’s ongoing operating performance by adjusting
for items which in our view do not necessarily reflect ongoing
performance. Management also internally uses these measures to
assess operating performance, both absolutely and in comparison to
other companies, and in evaluating or making selected compensation
decisions. Exclusion of items in the Company’s non-GAAP
presentation should not be considered an inference that these items
are unusual, infrequent or non-recurring. Full reconciliations of
non-GAAP financial measures to the most directly comparable GAAP
financial measures for the reported periods appear in the financial
tables section of the press release. See definitions on Table 6 for
an explanation of our non-GAAP measures.
About Travel + Leisure
Co.
Travel + Leisure Co. (NYSE:TNL) is the world’s leading
membership and leisure travel company, with nearly 20 travel brands
across its resort, travel club, and lifestyle portfolio. The
company provides outstanding vacation experiences and travel
inspiration to millions of owners, members, and subscribers every
year through its products and services: Wyndham Destinations, the
largest vacation ownership company with more than 245 vacation club
resort locations across the globe; Panorama, the world’s foremost
membership travel business that includes the largest vacation
exchange company and subscription travel brands; and Travel +
Leisure Group, featuring top travel content and travel services
including the brand’s eponymous travel club. At Travel + Leisure
Co., our global team of associates brings hospitality to millions
each year, turning vacation inspiration into exceptional travel
experiences. We put the world on vacation. Learn more at
travelandleisureco.com.
Forward-Looking
Statements
This press release includes “forward-looking statements” as that
term is defined by the Securities and Exchange Commission (“SEC”).
Forward-looking statements are any statements other than statements
of historical fact, including statements regarding our
expectations, beliefs, hopes, intentions or strategies regarding
the future. In some cases, forward-looking statements can be
identified by the use of words such as “may,” “will,” “expects,”
“should,” “believes,” “plans,” “anticipates,” “estimates,”
“predicts,” “potential,” “continue,” “future,” “intends” or other
words of similar meaning. Forward-looking statements are subject to
risks and uncertainties that could cause actual results of Travel +
Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”)
to differ materially from those discussed in, or implied by, the
forward-looking statements. Factors that might cause such a
difference include, but are not limited to, risks associated with:
the acquisition of the Travel + Leisure brand and the future
prospects and plans for Travel + Leisure Co., including our ability
to execute our strategies to grow our cornerstone timeshare and
exchange businesses and expand into the broader leisure travel
industry through new business extensions; our ability to compete in
the highly competitive timeshare and leisure travel industries;
uncertainties related to acquisitions, dispositions and other
strategic transactions; the health of the travel industry and
declines or disruptions caused by adverse economic conditions and
unemployment rates, terrorism or acts of gun violence, political
strife, war, pandemics, and severe weather events and other natural
disasters; adverse changes in consumer travel and vacation
patterns, consumer preferences and demand for our products;
increased or unanticipated operating costs and other inherent
business risks; our ability to comply with financial and
restrictive covenants under our indebtedness and our ability to
access capital markets on reasonable terms, at a reasonable cost or
at all; maintaining the integrity of internal or customer data and
protecting our systems from cyber-attacks; uncertainty with respect
to the scope, impact and duration of the novel coronavirus global
pandemic (“COVID-19”), including resurgences, the pace of recovery,
distribution and adoption of vaccines and treatments, and actions
in response to the evolving pandemic by governments, businesses and
individuals; the timing and amount of future dividends and share
repurchases, if any; and those other factors disclosed as risks
under “Risk Factors” in documents we have filed with the SEC,
including in Part I, Item 1A of our Annual Report on Form 10-K for
the fiscal year ended December 31, 2021, filed with the SEC on
February 23, 2022. We caution readers that any such statements are
based on currently available operational, financial and competitive
information, and they should not place undue reliance on these
forward-looking statements, which reflect management’s opinion only
as of the date on which they were made. Except as required by law,
we undertake no obligation to review or update these
forward-looking statements to reflect events or circumstances as
they occur.
Travel + Leisure Co. Table of Contents
Table Number
- Condensed Consolidated Statements of Income (Unaudited)
- Summary Data Sheet
- Non-GAAP Measure: Reconciliation of Net Income to Adjusted Net
Income to Adjusted EBITDA
- Non-GAAP Measure: Reconciliation of Net Cash Provided by
Operating Activities to Adjusted Free Cash Flow
- COVID-19 Impacts
- Definitions
Table 1
Travel + Leisure Co.
Condensed Consolidated Statements
of Income (Unaudited)
(in millions, except per share
amounts)
Three Months Ended
March 31,
2022
2021
Net revenues
Service and membership fees
$
402
$
348
Net VOI sales
297
172
Consumer financing
98
98
Other
12
10
Net revenues
809
628
Expenses
Operating
381
290
Cost of vacation ownership interests
40
21
Consumer financing interest
17
24
General and administrative
120
106
Marketing
94
69
Depreciation and amortization
30
31
Restructuring
7
(1
)
COVID-19 related costs
2
1
Asset impairments
1
—
Total expenses
692
541
Operating income
117
87
Interest expense
47
53
Interest (income)
(1
)
(1
)
Other (income), net
(3
)
—
Income before income taxes
74
35
Provision for income taxes
23
6
Net income attributable to TNL
shareholders
$
51
$
29
Earnings per share
Basic
$
0.59
$
0.33
Diluted
0.59
0.33
Weighted average shares
outstanding
Basic
85.9
86.3
Diluted
87.0
86.9
Table 2
Travel + Leisure Co.
Summary Data Sheet
(in millions, except per share
amounts, unless otherwise indicated)
Three Months Ended March
31,
2022
2021
Change
Consolidated
Results
Net income attributable to TNL
shareholders
$
51
$
29
76
%
Diluted earnings per share
$
0.59
$
0.33
79
%
Net income margin
6.3
%
4.6
%
Adjusted Earnings
Adjusted EBITDA
$
170
$
129
32
%
Adjusted net income
$
60
$
34
76
%
Adjusted diluted earnings per share
$
0.69
$
0.39
77
%
Segment
Results
Net Revenues
Vacation Ownership
$
604
$
449
35
%
Travel and Membership
210
183
15
%
Corporate and other
(5
)
(4
)
Total
$
809
$
628
29
%
Adjusted EBITDA
Vacation Ownership
$
103
$
66
56
%
Travel and Membership
84
75
12
%
Segment Adjusted EBITDA
187
141
Corporate and other
(17
)
(12
)
Total Adjusted EBITDA
$
170
$
129
32
%
Adjusted EBITDA margin
21.0
%
20.5
%
Note: Amounts may not calculate due to
rounding. See Table 6 for definitions. For a full reconciliation of
non-GAAP financial measures to the most directly comparable GAAP
financial measures, refer to Table 3. See "Presentation of
Financial Information" and the tables for the definitions and
reconciliations of these non-GAAP measures in accordance with
GAAP.
Table 2
(continued)
Travel + Leisure Co.
Summary Data Sheet
(in millions, unless otherwise
indicated)
Three Months Ended March
31,
2022
2021
Change
Vacation
Ownership
Net VOI sales
$
297
$
172
73
%
Loan loss provision
48
38
26
%
Gross VOI sales, net of Fee-for-Service
sales
345
210
64
%
Fee-for-Service sales
34
26
31
%
Gross VOI sales
$
379
$
236
61
%
Tours (in thousands)
108
76
42
%
VPG (in dollars)
$
3,377
$
2,847
19
%
Tour generated VOI sales
$
366
$
218
68
%
Telesales and other
13
18
(28
) %
Gross VOI sales
$
379
$
236
61
%
Net VOI sales
$
297
$
172
73
%
Property management revenue
180
157
15
%
Consumer financing
98
98
—
%
Other (a)
29
22
32
%
Total Vacation Ownership
revenue
$
604
$
449
35
%
Travel and
Membership (b)
Avg. number of exchange members (in
thousands)
3,570
3,576
—
%
Transactions (in thousands)
311
317
(2
) %
Revenue per transaction (in dollars)
$
328
$
297
10
%
Exchange transaction revenue
$
102
$
94
9
%
Transactions (in thousands)
232
196
18
%
Revenue per transaction (in dollars)
$
234
$
194
21
%
Travel Club transaction revenue
$
54
$
38
42
%
Transactions (in thousands)
543
513
6
%
Revenue per transaction (in dollars)
$
288
$
258
12
%
Travel and Membership transaction
revenue
$
156
$
132
18
%
Transaction revenue
$
156
$
132
18
%
Subscription revenue
45
41
10
%
Other (c)
9
10
(10
) %
Total Travel and Membership
revenue
$
210
$
183
15
%
Note:
Percentages may not compute due to
rounding.
(a)
Includes fee-for-service commission
revenues and other ancillary revenues.
(b)
In 2022, the Travel and Membership segment
determined that certain rental transactions to travelers that were
not RCI members are more closely aligned with Travel Club
transactions (previously “Non-exchange”). Prior period results
reflect the reclassification of this activity from Exchange to
Travel Club.
(c)
Primarily related to cancellation fees,
commissions and other ancillary revenue.
Table 3
Travel + Leisure Co.
Non-GAAP Measure: Reconciliation
of Net Income to
Adjusted Net Income to Adjusted
EBITDA
(in millions, except diluted per
share amounts)
Three Months Ended March
31,
2022
EPS
Margin %
2021
EPS
Margin %
Net income attributable to TNL
shareholders
$
51
$
0.59
6.3
%
$
29
$
0.33
4.6
%
Restructuring (a)
7
(1
)
COVID-19 related costs (b)
2
1
Amortization of acquired intangibles
(c)
2
2
Legacy items
1
4
Impairments costs
1
—
Taxes (d)
(4
)
(1
)
Adjusted net income
$
60
$
0.69
7.4
%
$
34
$
0.39
5.4
%
Income taxes on adjusted net income
27
7
Interest expense
47
53
Depreciation
28
29
Stock-based compensation expense (e)
9
7
Interest income
(1
)
(1
)
Adjusted EBITDA
$
170
21.0
%
$
129
20.5
%
Diluted Shares Outstanding
87.0
86.9
Amounts may not calculate due to rounding. The tables above
reconcile certain non-GAAP financial measures to their closest GAAP
measure. The presentation of these adjustments is intended to
permit the comparison of particular adjustments as they appear in
the income statement in order to assist investors' understanding of
the overall impact of such adjustments. In addition to GAAP
financial measures, the Company provides adjusted net income,
adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS
to assist our investors in evaluating our ongoing operating
performance for the current reporting period and, where provided,
over different reporting periods, by adjusting for certain items
which in our view do not necessarily reflect ongoing performance.
We also internally use these measures to assess our operating
performance, both absolutely and in comparison to other companies,
and in evaluating or making selected compensation decisions. These
supplemental disclosures are in addition to GAAP reported measures.
Non-GAAP measures should not be considered a substitute for, nor
superior to, financial results and measures determined or
calculated in accordance with GAAP. Our presentation of adjusted
measures may not be comparable to similarly-titled measures used by
other companies. See "Presentation of Financial Information" and
table 6 for the definitions of these non-GAAP measures.
(a)
Includes $3 million of
stock-based compensation expenses for the three months ended March
31, 2022 associated with the 2022 restructuring.
(b)
Includes expenses related to
COVID-19 testing and other expenses associated with our
return-to-work program in 2022. In 2021, this includes severance
and other employee costs associated with layoffs due to the
COVID-19 workforce reduction offset in part by U.S. and
international government employee retention credits.
(c)
Amortization of
acquisition-related intangible assets is excluded from adjusted net
income and adjusted EBITDA.
(d)
Represents the tax effects on the
adjustments.
(e)
All stock-based compensation is
excluded from adjusted EBITDA.
Table 4
Travel + Leisure Co.
Non-GAAP Measure: Reconciliation
of Net Cash Provided by Operating Activities to Adjusted Free Cash
Flow
(in millions)
Three Months Ended March
31,
2022
2021
Net cash provided by operating
activities
$
141
$
78
Property and equipment additions
(10
)
(12
)
Sum of proceeds and principal payments of
non-recourse vacation ownership debt
13
(47
)
Free cash flow
$
144
$
19
COVID-19 related adjustments (a)
2
1
Adjusted free cash flow (b)
$
146
$
20
(a)
Includes cash paid for COVID-19 expenses
factored into the calculation of Adjusted EBITDA.
(b)
The Company had $16 million of net cash
used in investing activities and $79 million of net cash used in
financing activities for the three months ended March 31, 2022, and
$47 million of net cash used in investing activities and $884
million of net cash used in financing activities for the three
months ended March 31, 2021.
Table 5
Travel + Leisure Co.
COVID-19 Related Impacts
(in millions)
The tables below present the COVID-19
related impacts on our results of operations and the related
classification on the Condensed Consolidated Statements of
Income:
Three Months Ended
Vacation Ownership
Travel and Membership
Corporate & Other
Consolidated
Non-GAAP Adjustments
Income Statement
Classification
March 31, 2022
Employee compensation related and
other
$
—
$
—
$
2
$
2
$
2
COVID-19 related costs
Total COVID-19
$
—
$
—
$
2
$
2
$
2
Three Months Ended
Vacation Ownership
Travel and Membership
Corporate & Other
Consolidated
Non-GAAP Adjustments
Income Statement
Classification
March 31, 2021
Employee compensation related and
other
$ —
$ —
$ 1
$ 1
$ 1
COVID-19 related costs
Lease related
(1)
—
—
(1)
(1)
Restructuring
Total COVID-19
$ (1)
$ —
$ 1
$ —
$ —
Table 6
Definitions
Adjusted Diluted
Earnings per Share: A non-GAAP measure, defined by the
Company as Adjusted net income divided by the diluted weighted
average number of common shares.
Adjusted
EBITDA: A non-GAAP measure, defined by the Company as net
income from continuing operations before depreciation and
amortization, interest expense (excluding consumer financing
interest), early extinguishment of debt, interest income (excluding
consumer financing revenues) and income taxes, each of which is
presented on the Condensed Consolidated Statements of Income.
Adjusted EBITDA also excludes stock-based compensation costs,
separation and restructuring costs, legacy items, transaction costs
for acquisitions and divestitures, impairments, gains and losses on
sale/disposition of business, and items that meet the conditions of
unusual and/or infrequent. Legacy items include the resolution of
and adjustments to certain contingent assets and liabilities
related to acquisitions of continuing businesses and dispositions,
including the separation of Wyndham Hotels and Cendant, and the
sale of the vacation rentals businesses. We believe that when
considered with GAAP measures, Adjusted EBITDA is useful to assist
our investors in evaluating our ongoing operating performance for
the current reporting period and, where provided, over different
reporting periods. We also internally use these measures to assess
our operating performance, both absolutely and in comparison to
other companies, and in evaluating or making selected compensation
decisions. Adjusted EBITDA should not be considered in isolation or
as a substitute for net income/(loss) or other income statement
data prepared in accordance with GAAP and our presentation of
Adjusted EBITDA may not be comparable to similarly-titled measures
used by other companies.
Adjusted EBITDA
Margin: A non-GAAP measure, represents Adjusted EBITDA as a
percentage of revenue.
Adjusted Free Cash
Flow: A non-GAAP measure, defined by the Company as net cash
provided by operating activities from continuing operations less
property and equipment additions (capital expenditures) plus the
sum of proceeds and principal payments of non-recourse vacation
ownership debt, while also adding back cash paid for transaction
costs for acquisitions and divestitures, separation adjustments
associated with the spin-off of Wyndham Hotels, and certain
adjustments related to COVID-19. A limitation of using Adjusted
free cash flow versus the GAAP measure of net cash provided by
operating activities as a means for evaluating TNL is that Adjusted
free cash flow does not represent the total cash movement for the
period as detailed in the consolidated statement of cash flows.
Adjusted Net
Income: A non-GAAP measure, defined by the Company as net
income from continuing operations adjusted to exclude separation
and restructuring costs, legacy items, transaction costs for
acquisitions and divestitures, amortization of acquisition-related
assets, debt modification costs, impairments, gains and losses on
sale/disposition of business, and items that meet the conditions of
unusual and/or infrequent and the tax effect of such adjustments.
Legacy items include the resolution of and adjustments to certain
contingent assets and liabilities related to acquisitions of
continuing businesses and dispositions, including the separation of
Wyndham Hotels and Cendant, and the sale of the vacation rentals
businesses.
Average Number of
Exchange Members: Represents paid members in our vacation
exchange programs who are considered to be in good standing.
Free Cash Flow
(FCF): A non-GAAP measure, defined by TNL as net cash
provided by operating activities from continuing operations less
property and equipment additions (capital expenditures) plus the
sum of proceeds and principal payments of non-recourse vacation
ownership debt. TNL believes FCF to be a useful operating
performance measure to evaluate the ability of its operations to
generate cash for uses other than capital expenditures and, after
debt service and other obligations, its ability to grow its
business through acquisitions and equity investments, as well as
its ability to return cash to shareholders through dividends and
share repurchases. A limitation of using FCF versus the GAAP
measure of net cash provided by operating activities as a means for
evaluating TNL is that FCF does not represent the total cash
movement for the period as detailed in the consolidated statement
of cash flows.
Gross Vacation
Ownership Interest Sales: A non-GAAP measure, represents
sales of vacation ownership interests (VOIs), including sales under
the fee-for-service program before the effect of loan loss
provisions. We believe that Gross VOI sales provide an enhanced
understanding of the performance of our vacation ownership business
because it directly measures the sales volume of this business
during a given reporting period.
Leverage
Ratio: The Company calculates leverage ratio as net debt
divided by Adjusted EBITDA as defined in the credit agreement.
Net Debt: Net
debt equals total debt outstanding, less non-recourse vacation
ownership debt and cash and cash equivalents.
Tours:
Represents the number of tours taken by guests in our efforts to
sell VOIs.
Travel and
Membership Revenue per Transaction: Represents transactional
revenue divided by transactions, provided in two categories;
Exchange, which is primarily RCI, and Travel Club.
Travel and
Membership Transactions: Represents the number of vacation
bookings recognized as revenue during the period, net of
cancellations, provided in two categories; Exchange, which is
primarily RCI, and Travel Club.
Volume Per Guest
(VPG): Represents Gross VOI sales (excluding tele-sales
upgrades, which are non-tour upgrade sales) divided by the number
of tours. The Company has excluded non-tour upgrade sales in the
calculation of VPG because non-tour upgrade sales are generated by
a different marketing channel.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220428005424/en/
Investors: Christopher Agnew Senior Vice President,
FP&A and Investor Relations (407) 626-4050
Christopher.Agnew@travelandleisure.com Media: Steven
Goldsmith Corporate Communications (407) 626-5882
Steven.Goldsmith@travelandleisure.com
Travel plus Leisure (NYSE:TNL)
Historical Stock Chart
From May 2024 to Jun 2024
Travel plus Leisure (NYSE:TNL)
Historical Stock Chart
From Jun 2023 to Jun 2024