Logotype for Travel + Leisure Co.

Travel + Leisure (TNL) investor relations material

Travel + Leisure Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Travel + Leisure Co.
Q2 2025 earnings summary23 Jul, 2025

Executive summary

  • Q2 2025 net revenue exceeded $1B, with adjusted EBITDA of $250M and adjusted EPS of $1.65, driven by Vacation Ownership growth and higher property management fees, offsetting Travel and Membership declines.

  • Net income from continuing operations was $108M, up year-over-year; diluted EPS from continuing operations was $1.62.

  • Returned $107M to shareholders in Q2 via $37M dividends and $70M buybacks, reflecting strong free cash flow.

  • Announced new projects and partnerships, including Margaritaville in Orlando, Sports Illustrated Resorts in Nashville, and Accor in Indonesia.

  • Continued investment in technology, marketing, and product innovation, including app launches and AI-driven personalization.

Financial highlights

  • Q2 2025 revenue reached $1.02B, up 3% year-over-year, with Vacation Ownership revenue up 6% to $853M and VPG up 7%.

  • Adjusted EBITDA was $250M, up 2% year-over-year; adjusted EBITDA margin was 24.6%.

  • Net cash provided by operating activities for the first six months was $353M, up $132M year-over-year.

  • Adjusted free cash flow for the first six months was $123M, up from $112M year-over-year.

  • Interest expense decreased $6M year-over-year in Q2 2025, reflecting lower effective rates and reduced debt.

Outlook and guidance

  • Full-year 2025 adjusted EBITDA expected in the $955M–$985M range; gross VOI sales $2.4B–$2.5B; VPG guidance raised to $3,200–$3,250.

  • Q3 2025 guidance: adjusted EBITDA of $250M–$260M, gross VOI sales of $650M–$680M, VPG of $3,200–$3,250.

  • Management expects continued leisure travel demand to support Vacation Ownership growth, but notes ongoing pressure on loan portfolio delinquencies and economic uncertainties.

  • Full-year capital expenditures expected between $125M and $135M; vacation ownership development spending $150M–$180M.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Travel + Leisure earnings date

Logotype for Travel + Leisure Co.
Q3 202522 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Travel + Leisure earnings date

Logotype for Travel + Leisure Co.
Q3 202522 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Travel + Leisure Co. operates as a global provider of hospitality and vacation ownership services. The company offers vacation ownership programs, travel subscriptions, and related services under various brand names. Travel + Leisure serves customers seeking leisure travel experiences through a portfolio of resorts, clubs, and rental properties. The company is headquartered in Orlando, Florida, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage