Travel + Leisure Co. reported a solid financial performance for the fiscal year ending December 31, 2024, with net revenues reaching $3.86 billion, a 3% increase from $3.75 billion in 2023. The company's net income attributable to shareholders rose to $411 million, compared to $396 million in the previous year. Adjusted EBITDA also saw an increase, climbing to $929 million from $908 million in 2023, reflecting the company's effective management of costs and strategic initiatives.
The Vacation Ownership segment was a significant contributor to this growth, generating $3.17 billion in revenues, up from $3.04 billion in 2023. This increase was driven by a 6.7% rise in gross vacation ownership interest sales, which totaled $2.15 billion, alongside a 7.2% increase in the number of tours taken by potential buyers. However, the volume per guest (VPG) decreased slightly due to a higher mix of new owners, who typically generate lower sales per tour. The Travel and Membership segment, while experiencing a revenue decline to $695 million from $711 million, benefited from pricing increases that partially offset lower transaction volumes.
Strategically, Travel + Leisure Co. made notable acquisitions, including the Accor Vacation Club for $50 million, which added 24 resorts and nearly 30,000 members to its portfolio. This acquisition is expected to enhance the company's offerings in the Asia Pacific, Middle East, Africa, and Türkiye regions. Additionally, the company is in the early stages of developing a new line of sports-themed resorts under the Sports Illustrated brand, which is anticipated to begin sales within the next 9 to 18 months.
Operationally, the company reported a total of 809,000 vacation ownership owners and 3.4 million members in its exchange network, RCI. The company also noted a workforce of approximately 19,000 employees globally, with a focus on enhancing employee development and retention. Despite facing challenges such as increased delinquencies in its loan portfolio, the company remains optimistic about future growth, citing strong demand for leisure travel and improvements in capital markets as positive indicators for 2025 and beyond.
Looking ahead, Travel + Leisure Co. anticipates continued growth in its core segments, supported by strategic acquisitions and product innovations. However, the company acknowledges potential risks from economic conditions, including inflation and interest rates, which could impact consumer behavior and overall business performance.
About Travel & Leisure Co.
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