Travel + Leisure Co

Travel + Leisure Co (TNL) is a leisure-focused company that combines vacation ownership, membership services and travel-related experiences under a recognised consumer brand. With a market capitalisation around $3.94bn, its revenue mix typically includes resort sales, membership fees, exchange services and licensing of the Travel + Leisure name. Investors should understand the business is cyclical—demand tracks consumer travel sentiment, disposable income and broader economic conditions. The company has sought to grow recurring revenue through memberships and brand-led travel offerings, while managing capital intensity associated with resort operations. Key metrics to watch are cash flow from operations, membership sales and leverage levels, as high interest rates can amplify financing costs. For longer-term investors, the brand licence and membership base can offer steady cash conversion, but returns are not guaranteed and value can fall as well as rise. This is general educational information, not personal financial advice; suitability depends on individual circumstances.