Travel + Leisure Co. provides update on strong third quarter momentum ahead of conference presentations
ORLANDO, Florida, September 15, 2022–(BUSINESS WIRE)–Travel + Leisure Co. (NYSE:TNL), the global leader in membership and leisure travel, provided an update on its third quarter results and outlook for the remainder of 2022 ahead of presentations at multiple conferences in September.
Travel + Leisure Co. will be participating in the NYSE’s 3rd Annual Investor Access Consumer Day on September 20, 2022, Deutsche Bank’s 30th Annual Leveraged Finance Conference on September 20, and the Wells Fargo consumers on September 21.
A link to the Company’s updated Fall 2022 Investor Relations Presentation is available online at travelandleisureco.com/investors.
Third quarter update
The Company reiterates the third quarter and full year outlook provided on July 28, 2022 in its earnings press release, including the following measures1:
“The strong momentum we saw in the second quarter continued into August, as our vacation ownership business continues to attract families who put their vacations first. year, the pace of bookings at our vacation resorts remains strong with nights in our books 8 percent above 2019,” said Michael D. Brown, President and CEO of Travel + Leisure Co.
About Travel + Leisure Co.
Travel + Leisure Co. (NYSE: TNL) is the global leader in membership and leisure travel, with nearly 20 travel brands in its portfolio of resorts, travel clubs and lifestyle. The company delivers exceptional vacation experiences and travel inspiration to millions of owners, members and subscribers each year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 resorts in worldwide ; Panorama, the world’s leading membership travel company that includes the largest vacation exchange company and subscription travel brands; and Travel + Leisure Group, offering leading travel content and services, including the brand’s eponymous travel club. At Travel + Leisure Co., our global team of associates brings hospitality to millions of people each year, transforming vacation inspiration into exceptional travel experiences. We put the world on vacation. Learn more about travelandleisureco.com.
This press release contains “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are all statements other than statements of historical fact, including statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the future. In some instances, forward-looking statements can be identified by the use of words such as “may”, “will”, “expect”, “should”, “believe”, “anticipate”, “anticipate”, ” estimates’, ‘predicts’, ‘potential’, ‘continues’, ‘future’, ‘intends’ or other words of similar meaning. Forward-looking statements are subject to risks and uncertainties that could cause the actual results of Travel + Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”) to differ materially from those discussed or implied by forward-looking statements. Factors that could cause such a difference include, but are not limited to, risks associated with: the acquisition of the Travel + Leisure brand and Travel + Leisure Co.’s future prospects and plans, including our ability to execute our strategies to grow our cornerstone timeshare and exchange businesses and expand into the broader leisure travel industry through new business expansions; our ability to compete in the highly competitive timeshare and leisure travel industries; uncertainties relating to acquisitions, divestitures and other strategic transactions; the health of the travel industry and declines or disruptions caused by adverse economic conditions, unemployment rates and consumer sentiment, terrorism or acts of armed violence, political strife, war, including hostilities in Ukraine, pandemics, severe weather and other natural disasters; adverse changes in consumer travel and vacation habits, consumer preferences and demand for our products; increased or unexpected operating costs and other inherent business risks; our ability to meet financial and covenant covenants under our indebtedness and our ability to access capital markets on reasonable terms, at reasonable cost or not at all; maintain the integrity of internal or customer data and protect our systems from cyberattacks; uncertainty about the scope, impact and duration of the novel coronavirus (“COVID-19”) global pandemic, including resurgences, pace of recovery, distribution and uptake of vaccines and treatments , and actions in response to the evolution of the pandemic by governments, businesses and individuals; the timing and amount of future dividends and share buybacks, if any; and other factors disclosed as risks under the heading “Risk Factors” in our filings with the SEC, including in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC. SEC on February 23, 2022. We caution readers that these statements are based on currently available operational, financial and competitive information, and that they should not place undue reliance on these forward-looking statements, which reflect management’s opinion only. on the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.
1 Adjusted EBITDA is a non-GAAP financial measure. This guidance is presented only on a non-GAAP basis because all information necessary for a quantitative reconciliation of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure is not available without unreasonable effort, primarily due to uncertainties related to the occurrence or amount of such adjustments that may arise in the future. Where one or more of the items currently unavailable are applicable, those items could be material, individually or in the aggregate, to reported results under GAAP.
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Senior Vice President, FP&A and Investor Relations