Travel + Leisure Co. reported Q4 2025 net revenue of USD 1.03 billion (+6% YoY) and gross VOI sales of USD 638 million (+8% YoY), with tours up 5% and VPG up 2%. The company posted a Q4 net loss of USD 61 million (diluted loss per share of USD 0.95), including USD 210 million of inventory write-downs and impairments tied to its Resort Optimization Initiative; adjusted EBITDA was USD 272 million and adjusted diluted EPS was USD 1.83. For FY 2025, net revenue was USD 4.02 billion (+4% YoY) and gross VOI sales were USD 2.49 billion (+8% YoY), while net income was USD 230 million (diluted EPS of USD 3.44), including USD 216 million of inventory write-downs and impairments; adjusted EBITDA was USD 990 million and adjusted diluted EPS was USD 6.34. Segmentally, FY Vacation Ownership revenue was USD 3.36 billion (+6% YoY) with adjusted EBITDA of USD 861 million (+13% YoY), while Travel and Membership revenue was USD 662 million (-5% YoY) with adjusted EBITDA of USD 228 million (-9% YoY). FY operating cash flow was USD 640 million and adjusted free cash flow was USD 516 million. TNL guided FY 2026 adjusted EBITDA of USD 1.03 billion to USD 1.06 billion and Q1 2026 adjusted EBITDA of USD 210 million to USD 220 million, and expects the Resort Optimization Initiative—covering 17 resorts—to have a positive net impact on adjusted EBITDA beginning in 2026. The board approved a new USD 750 million share repurchase authorization; TNL repurchased USD 300 million of shares in FY 2025 and paid FY 2025 dividends of USD 149 million, with management set to recommend a Q1 2026 dividend of USD 0.60 per share. CEO Michael D. Brown said demand remains strong and the company is focused on execution while scaling newer brands and advancing the resort optimization plan.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Travel + Leisure Co. published the original content used to generate this news brief via Business Wire (Ref. ID: 202602180630BIZWIRE_USPR_____20260218_BW727464) on February 18, 2026, and is solely responsible for the information contained therein.