What does travel and membership — licensing fees mean?

Costs paid to third parties for the right to use specific brands, intellectual property, or proprietary systems within the travel and membership business. This metric represents the royalty or licensing burden on the segment's operations. High fees may indicate a reliance on external brand equity versus internal development.

Travel + Leisure TNL Travel and Membership — Licensing fees

Similar metrics at other companies

WHLicense and other fees — Royalties and franchise fee revenues

$30M+11.1%

CMELicensing and other fee agreements

$106.8M+10.6%

WHManagement and other fees — Royalties and franchise fee revenues

$4M+100%

WHMarketing, reservation and loyalty — Royalties and franchise fee revenues

$122M+5.2%

WHManagement fees — Royalties and franchise fee revenues

$3M—

IDCCLicensing

$52.12M+195%

Other financials

Income statement

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Revenue$961.0M+2.9%

Gross profit$926.0M+1.6%

Operating income$159.0M+1.9%

Net income$79.0M+8.2%

EPS (diluted)$1.22+14.0%

Balance sheet

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Cash & equivalents$456.0M+24.3%

Total debt$4.7B+11.9%

Total equity-$1.0B-13.2%

Total assets$6.8B+1.1%

Cash flow

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Operating cash flow$38.0M-68.6%

CapEx$19.0M-9.5%

Free cash flow$19.0M-81.0%

Valuation

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Market cap$4.79B+39.8%

Profitability

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Gross margin93%-4.9pp

Operating margin14.3%-4.8pp

Net margin10.4%-0.6pp

FCF margin10.9%-0.7pp

Returns & leverage

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Return on equity122.1%—

Debt / equity6.6×—

Current ratio1.2×—

Where this comes from

Reported directly by Travel + Leisure in its filing.

Tagged under the XBRL concept wyn:LicensingFees.

The official record: Travel + Leisure’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Travel + Leisure's travel and membership — licensing fees?: Travel + Leisure (TNL) reported travel and membership — licensing fees of $0 in Q1 2026.
What does travel and membership — licensing fees mean?: Costs paid to third parties for the right to use specific brands, intellectual property, or proprietary systems within the travel and membership business. This metric represents the royalty or licensing burden on the segment's operations. High fees may indicate a reliance on external brand equity versus internal development.