Travel + Leisure Co. Provides Update on Strong Momentum in Third Quarter Prior to Conference Presentations
September 15 2022 - 4:30PM
Business Wire
Travel + Leisure Co. (NYSE:TNL), the world’s leading membership
and leisure travel company, provided an update on its third quarter
results and outlook for the remainder of 2022 in advance of
presentations at several conferences in September.
Travel + Leisure Co. will be attending NYSE’s 3rd Annual
Investor Access Consumer Day on September 20, 2022, Deutsche Bank’s
30th annual Leveraged Finance Conference on September 20, and Wells
Fargo’s Consumer Conference on September 21.
A link to the company’s updated Fall 2022 investor relations
presentation is available online at
travelandleisureco.com/investors.
Third Quarter Update
The company is reiterating the third quarter and full year
outlook provided on July 28, 2022, in its earnings press release,
including the following measures1:
- Third quarter adjusted EBITDA of $230 million to $240
million
- Full year adjusted EBITDA of $860 million to $880 million
“The strong momentum we saw in the second quarter continued
through August as our vacation ownership business continues to draw
families prioritizing their vacations. Through the end of the year,
booking pace at our vacation ownership resorts remains strong with
room nights on our books 8 percent above 2019,” said Michael D.
Brown, president and CEO of Travel + Leisure Co.
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,
unemployment rates and consumer sentiment, terrorism or acts of gun
violence, political strife, war, including hostilities in Ukraine,
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.
1 Adjusted EBITDA is a non-GAAP financial
measure. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220915005902/en/
Investor Contact: Christopher Agnew Senior Vice
President, FP&A and Investor Relations (407) 626-4050
Christopher.Agnew@travelandleisure.com
Media Contact: Steven Goldsmith Public Relations (407)
626-5882 Steven.Goldsmith@travelandleisure.com
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