Travel + Leisure TNL Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net revenues by Business | ||||||
| Travel and Membership | $165M-8.3% | —— | $169M+0.6% | $166M-6.2% | $180M-6.7% | |
| Vacation Ownership | $798M+5.7% | —— | $876M+6.2% | $853M+5.7% | $755M+4.1% | |
| Net revenues by Product | ||||||
| Ancillary revenues | $0-100% | —— | $1M0.0% | $1M0.0% | $1M0.0% | |
| Consumer financing | $113M+0.9% | $115M0.0% | $115M+0.9% | $112M+0.9% | $112M+1.8% | |
| Deferred subscription revenue | $42M-2.3% | —— | $43M-2.3% | $43M-2.3% | $43M-4.4% | |
| Eliminations | -$2M0.0% | —— | -$2M-100% | -$2M— | -$2M+33.3% | |
| Fee-for-Service commissions | $11M-31.3% | —— | $22M+37.5% | $26M-3.7% | $16M-11.1% | |
| Property management fees and reimbursable revenues | $223M0.0% | —— | $218M+0.9% | $217M+3.3% | $223M+5.7% | |
| Transaction revenues | $117M-10.0% | —— | $119M+2.6% | $117M-7.1% | $130M-7.1% | |
| Vacation ownership interest sales | $427M+11.2% | $495M+8.6% | $494M+8.6% | $474M+7.5% | $384M+4.1% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Travel + Leisure break its business down?
- Travel + Leisure (TNL) reports net revenues by business across 2 parts — Travel and Membership and Vacation Ownership. Each is extracted from the segment footnotes and tracked over time.
- Where does Travel + Leisure's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Travel + Leisure's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
