Net revenues

Travel + Leisure·Products & Services·17 segments·Rolls up to Total Revenue

Breakdown

Segment	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Vacation ownership interest sales	$441M	$455M	$456M	$384M	$474M	$494M	$495M	$427M
Property management fees and reimbursable revenues	$210M	$216M	—	$223M	$217M	$218M	—	$223M
Transaction revenues	$126M	$116M	—	$130M	$117M	$119M	—	$117M
Consumer financing	$111M	$114M	$115M	$112M	$112M	$115M	$115M	$113M
Deferred subscription revenue	$44M	$44M	—	$43M	$43M	$43M	—	$42M
Subscription revenue	$44M	$44M	$46M	$43M	$43M	$43M	$43M	$42M
Fee-for-Service commissions	$27M	$16M	—	$16M	$26M	$22M	—	$11M
Eliminations	$0	-$1M	—	-$2M	-$2M	-$2M	—	-$2M
Ancillary revenues	$1M	$1M	—	$1M	$1M	$1M	—	$0
Total	$985M	$993M	$971M	$934M	$1.02B	$1.04B	$1.03B	$961M

Exchange-related revenue is derived from annual filings.

Vacation ownership interest salesView metric

Service and membership feesView metric

Consumer financingView metric

Ancillary revenuesView metric

EliminationsView metric

Management fee revenuesView metric

Reimbursable revenuesView metric

Property management fees and reimbursable revenuesView metric

Deferred exchange-related revenueView metric

Fee-for-Service commissionsView metric

Transaction revenuesView metric

Deferred subscription revenueView metric

Management Fee RevenueView metric

Reimbursement RevenueView metric

Exchange-related revenueView metric

Subscription revenueView metric