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Travel + Leisure TNL Vacation Ownership — Property management expense

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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:PropertyManagementExpense.

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 vacation ownership — property management expense?
Travel + Leisure (TNL) reported vacation ownership — property management expense of $173M in Q1 2026.
How has Travel + Leisure's vacation ownership — property management expense changed year-over-year?
Travel + Leisure's vacation ownership — property management expense decreased by 0.0% year-over-year, from $173M to $173M.
What is the long-term trend for Travel + Leisure's vacation ownership — property management expense?
Over 3 years (2022 to 2025), Travel + Leisure's vacation ownership — property management expense has grown at a 6.5% compound annual growth rate (CAGR), from $564M to $682M.
What does vacation ownership — property management expense mean?
The operating costs incurred to manage, maintain, and service vacation properties on behalf of owners. This metric reflects the operational efficiency and scale of the segment's property management service obligations.