Travel + Leisure TNL Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net revenues by Business | ||||||
| Travel and Membership | $165M— | —— | $169M+1.8% | $166M-7.8% | $180M— | |
| Vacation Ownership | $798M— | —— | $876M+2.7% | $853M+13.0% | $755M— | |
| Net revenues by Product | ||||||
| Ancillary revenues | $0— | —— | $1M0.0% | $1M0.0% | $1M— | |
| Consumer financing | $113M-1.7% | $115M0.0% | $115M+2.7% | $112M0.0% | $112M-2.6% | |
| Deferred subscription revenue | $42M— | —— | $43M0.0% | $43M0.0% | $43M— | |
| Eliminations | -$2M— | —— | -$2M0.0% | -$2M0.0% | -$2M— | |
| Fee-for-Service commissions | $11M— | —— | $22M-15.4% | $26M+62.5% | $16M— | |
| Property management fees and reimbursable revenues | $223M— | —— | $218M+0.5% | $217M-2.7% | $223M— | |
| Transaction revenues | $117M— | —— | $119M+1.7% | $117M-10.0% | $130M— | |
| Vacation ownership interest sales | $427M-13.7% | $495M+0.2% | $494M+4.2% | $474M+23.4% | $384M-15.8% |
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.
