Travel + Leisure Co.

Club Wyndham, WorldMark, and the Multi-Brand Portfolio

1. What is Travel + Leisure Co.?

Travel + Leisure Co. (NYSE: TNL) is the largest vacation ownership company in the world by number of owners and resort properties. The company operates 280+ resorts with 29,000 units serving approximately 797,000 owner families. TNL also owns and operates RCI, the world’s largest timeshare exchange network, with 3.3 million exchange members and 3,600+ affiliated resorts in over 110 countries.

TNL is not a hotel company. It separated from Wyndham Hotels & Resorts in 2018. The two companies are independent, publicly traded entities. TNL licenses the Wyndham name for its Club Wyndham and WorldMark by Wyndham vacation ownership brands and connects to the Wyndham Rewards loyalty program under a licensing agreement.

The company’s corporate history is complex. It traces back through Wyndham Destinations (2018-2021), Wyndham Worldwide (2006-2018), Cendant Corporation (1997-2006), and Hospitality Franchise Systems (1990-1997). In January 2021, the company acquired the Travel + Leisure brand from Meredith Corporation and renamed itself Travel + Leisure Co. in February 2021.

This article provides an independent overview of TNL’s brands, ownership structures, financial performance, and international operations.

Last updated: April 2026. Sources: TNL FY2025 10-K filing, Q4 2025 earnings release, TNL investor relations.

2. Travel + Leisure Co. Company Overview

The table below summarizes key corporate data for Travel + Leisure Co. as of full year 2025 results.

TNL recorded $216 million in inventory write-downs and impairments in 2025 as part of a Resort Optimization Initiative. The company returned significant capital to shareholders through dividends ($0.56 per share, increased to $0.60 in Q1 2026) and share repurchases ($210 million through the first nine months of 2025). The board approved a new $750 million share repurchase authorization.

3. How Does Club Wyndham and WorldMark Ownership Work?

TNL operates six vacation ownership brands, each with its own club structure and points system. The core brands are Club Wyndham and WorldMark by Wyndham.

Club Wyndham

Club Wyndham is TNL’s flagship U.S. vacation ownership brand. It operates as a points-based system. Owners purchase a deeded real estate interest at a specific resort (their Home Resort) and receive an annual allocation of points. Points are used to book stays across the Club Wyndham network. Points requirements vary by resort, unit size, season, and day of week. Club Wyndham owners have access to the Wyndham Rewards loyalty program, earning hotel loyalty points and elite status.

WorldMark by Wyndham

WorldMark is a points-based vacation club focused on the western United States. It operates as a trust structure. Owners purchase credits (points) in the WorldMark trust rather than a deeded interest at a specific resort. WorldMark has nearly 100 resort destinations. The trust structure gives members access to the full portfolio without a Home Resort priority system.

Margaritaville Vacation Club

A lifestyle-branded vacation ownership product developed in partnership with the Margaritaville brand. Properties target beach and leisure destinations. The brand appeals to a casual, experience-driven traveler.

Accor Vacation Club

Acquired in 2024, Accor Vacation Club operates 24 resorts across Australia, New Zealand, and Indonesia. Properties operate under Accor hotel brands including Peppers, MGallery, Grand Mercure, The Sebel, Novotel, Mantra, and Mercure. The acquisition added nearly 30,000 members and expanded TNL’s Asia-Pacific membership to over 100,000. TNL holds exclusive rights to develop new Accor Vacation Club products across Asia Pacific, the Middle East, Africa, and Turkey under a licensing agreement with Accor.

Sports Illustrated Resorts

A new brand developed through a partnership with Authentic Brands Group. Sports Illustrated Resorts will feature hotels, residential condominiums, and vacation ownership clubs designed around sports-themed experiences. Sales launched in 2025.

Eddie Bauer Adventure Club

The newest addition to the portfolio, also through a partnership with Authentic Brands Group. Eddie Bauer Adventure Club targets outdoor and adventure-oriented travelers. Announced in 2025.

RCI Exchange

All TNL vacation ownership brands connect to RCI, which TNL owns. RCI is the world’s largest timeshare exchange network with 3,600+ affiliated resorts in 110+ countries and 3.3 million exchange members. Through RCI, TNL owners have the option to exchange their points for stays at non-TNL affiliated resorts worldwide.

4. Travel + Leisure Co. Resort Portfolio

TNL’s combined portfolio exceeds 280 resorts with 29,000 units. The majority are located in the United States, with international properties in the Caribbean, Mexico, Australia, New Zealand, Indonesia, Japan, Thailand, Fiji, and Europe.

Club Wyndham (U.S.)

The largest segment of the portfolio. Properties span popular U.S. vacation destinations including Orlando, Myrtle Beach, Las Vegas, Branson, Williamsburg, San Francisco, Nashville, New York, Bonnet Creek (Orlando), Ocean Walk (Daytona Beach), National Harbor (Washington D.C. area), and multiple Hawaii locations. The Club Wyndham app handles 28{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} of all bookings with a 71{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} search-to-book conversion rate.

WorldMark by Wyndham

Nearly 100 resort destinations concentrated in the western and northwestern United States, including locations in California, Oregon, Washington, Colorado, Arizona, Utah, Nevada, Hawaii, and Fiji. WorldMark launched its own booking app in Q3 2025.

Japan (16+ Sundance Resort Club properties)

TNL entered the Japanese market in July 2019 through the acquisition of Resort Frontier Co. Ltd., the management company for Sundance Resort Club. This added 16 resort properties across Japan, all within approximately two hours of Tokyo by train. Locations include the Yuzawa ski area, Mount Fuji region, Hakone hot springs, Izu Peninsula, and the Onjuku beach area. In April 2024, TNL acquired an additional property, Club Wyndham Chikumakan Nagano, in the Shiga Kogen ski area. The Sundance properties have been integrated into the Club Wyndham South Pacific network.

Asia-Pacific (Accor Vacation Club)

24 resorts across Australia, New Zealand, and Indonesia acquired in 2024. Locations include Sydney (Darling Harbour), Bali (Nusa Dua), Queenstown (New Zealand), and various resort destinations across the Australian coast and interior. TNL manages approximately 90 properties across Asia Pacific through its international operations, headquartered in Singapore.

Margaritaville Vacation Club

Properties in Rio Mar (Puerto Rico), St. Thomas (U.S. Virgin Islands), Nashville, and other locations aligned with the Margaritaville lifestyle brand.

5. How Does Wyndham Rewards Work with Vacation Ownership?

Wyndham Rewards Connection

TNL licenses the Wyndham name from Wyndham Hotels & Resorts. The two companies are separate. Club Wyndham and WorldMark owners have access to Wyndham Rewards, earning loyalty points and elite status. Wyndham Rewards provides access to 9,200+ Wyndham-branded hotels across 95+ countries. In March 2026, Wyndham Rewards launched a 1:1 points transfer partnership with Bilt Rewards, expanding redemption options.

The Wyndham Rewards connection differentiates TNL from DVC (which has no hotel loyalty program) and positions it alongside MVW (Marriott Bonvoy) and HGV (Hilton Honors) in offering hotel network access beyond the resort portfolio.

6. Where Does Travel + Leisure Co. Operate Internationally?

TNL derives 12{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} of revenue internationally. The company’s international operations are managed from Singapore under Barry Robinson, President and Managing Director of International Operations.

Asia-Pacific

TNL’s Asia-Pacific operations span Australia, New Zealand, Fiji, Indonesia, Thailand, and Japan. The 2024 Accor Vacation Club acquisition expanded the Asia-Pacific membership to over 100,000 and added 24 resorts. TNL holds exclusive Accor Vacation Club development rights across Asia Pacific, the Middle East, Africa, and Turkey. Club Wyndham Asia and Club Wyndham South Pacific are the primary club brands in the region.

RCI Global Exchange Network

Through RCI, TNL operates the world’s largest timeshare exchange network. RCI provides exchange access to 3,600+ affiliated resorts in 110+ countries. This gives TNL owners the broadest international exchange access of any vacation ownership company, though the quality and availability of exchange inventory varies significantly by destination and season.

7. How Does TNL Compare to Other Vacation Ownership Companies?

TNL is the largest vacation ownership company by owner count (797,000 families) and resort count (280+). By revenue ($4.02 billion in FY2025), it ranks third behind MVW ($5.03 billion) and HGV ($5.05 billion). TNL’s VPG (Volume Per Guest) of $3,304 in Q3 2025 represents a 10{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} year-over-year increase, indicating improving sales efficiency.

TNL’s competitive strategy centers on a multi-brand portfolio approach. Rather than operating under a single brand, TNL licenses and develops multiple vacation ownership brands targeting different traveler demographics. This strategy aims to expand the addressable market beyond the traditional timeshare buyer.

Recent Strategic Developments

• Multi-Brand Expansion: TNL has rapidly expanded its brand portfolio from two core brands (Club Wyndham, WorldMark) to six, adding Margaritaville Vacation Club, Accor Vacation Club, Sports Illustrated Resorts, and Eddie Bauer Adventure Club. Each new brand targets $200-$400 million in potential annual sales.
• Accor Vacation Club Acquisition (2024): Added 24 resorts, 30,000 members, and exclusive development rights across Asia Pacific, Middle East, Africa, and Turkey. Accor is the largest international hotel chain in Asia Pacific with 1,600+ hotels.
• Digital Investment: Club Wyndham app reached 215,000 downloads with 28{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} of bookings and 71{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} search-to-book conversion. WorldMark app launched Q3 2025.
• Resort Optimization Initiative: $216 million in inventory write-downs and impairments in 2025 as TNL restructures its resort portfolio for efficiency.
• New Headquarters (January 2026): Opened a new global headquarters at 501 W. Church St. in downtown Orlando, consolidating 900+ associates. Capital investment exceeded $36 million.
• Travel + Leisure Brand: TNL owns the Travel + Leisure brand under a 30-year royalty-free, renewable license from People Inc. (formerly Meredith Corporation). Travel + Leisure GO is TNL’s subscription travel club brand built on this acquisition.

8. What Should You Know Before Buying Club Wyndham or WorldMark?

The following considerations are editorial guidance from VacationPlaces. They are not purchase recommendations.

Understand Which Brand You Are Buying

TNL operates six separate vacation ownership clubs. Each has its own points system, resort network, and club rules. Club Wyndham and WorldMark are the largest and most established. Margaritaville, Sports Illustrated, Eddie Bauer, and Accor are newer or smaller programs. Cross-booking between clubs is limited. Before purchasing, understand exactly which club’s resorts you will have access to and what cross-booking options exist.

Club Wyndham vs. WorldMark

Club Wyndham uses deeded ownership at a specific resort with points. WorldMark uses a trust structure without a home resort. If you prefer a specific destination and want Home Resort priority, Club Wyndham is the appropriate product. If you prefer flexibility across the western U.S. without a home base, WorldMark provides that structure.

Developer vs. Resale Pricing

TNL sells new ownership interests through its direct sales channel. A resale market exists for both Club Wyndham and WorldMark. Resale prices are often significantly lower than developer prices. Evaluate which benefits are available to resale vs. developer purchasers before making a decision. The specific restrictions vary by brand and contract type.

Total Cost of Ownership

The purchase price is the initial cost. Annual maintenance fees are the ongoing cost. TNL’s maintenance fees vary by resort and increase over time. Budget for both. Also factor in RCI exchange fees if you plan to use the exchange network, and club dues if applicable to your brand.

Compare to Competitors

TNL’s resort portfolio is concentrated in mid-tier U.S. leisure destinations. MVW and HGV operate in more premium resort and urban locations. DVC is Disney-exclusive. If your vacation priorities center on premium resort destinations (Hawaii, Caribbean, Europe), evaluate whether TNL’s portfolio matches your travel patterns before purchasing. If you prefer domestic drive-to destinations with a large network, TNL’s portfolio has the broadest U.S. coverage.

9. What Should Existing TNL Owners Know?

Multi-Brand Cross-Booking

If you are a Club Wyndham or WorldMark owner, review what cross-booking access you have to the newer brands (Margaritaville, Accor, Sports Illustrated, Eddie Bauer). Cross-club agreements are limited and vary. Do not assume that owning in one TNL brand gives you automatic access to all TNL brands.

Digital Tools

The Club Wyndham app handles a growing share of bookings (28{47e772cd852496d685f7768c1e1ff3926845e99bc685d09b5cb3e90ff014ab6d} as of Q3 2025). If you are not using the app, download it and evaluate whether the booking experience improves your ability to find availability. The WorldMark app launched in late 2025.

RCI Exchange Value

If you are exchanging through RCI, evaluate whether you are getting fair value for your deposited points. Exchange availability and quality vary by destination. High-demand weeks at high-demand resorts exchange better than off-peak inventory at lower-demand properties.

Resort Optimization Impact

TNL recorded $216 million in resort-related write-downs in 2025. If your Home Resort or a resort you frequent is affected by optimization decisions (renovations, closures, or inventory changes), contact your owner association for details on how this affects your maintenance fees and unit availability.

Resale and Exit Considerations

The resale market for TNL ownership varies by brand, resort, and contract type. WorldMark credits and high-demand Club Wyndham resorts retain value better than low-demand properties. If you are considering selling, research current resale pricing through licensed timeshare resale brokers. Be cautious of unsolicited offers from third parties.

Frequently Asked Questions

What is Travel + Leisure Co.?

Travel + Leisure Co. (NYSE: TNL) is the largest vacation ownership company in the world by number of owners (797,000 families) and resort properties (280+). TNL operates six vacation ownership brands: Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, Accor Vacation Club, Sports Illustrated Resorts, and Eddie Bauer Adventure Club. TNL also owns RCI, the world’s largest timeshare exchange network.

Is Travel + Leisure Co. the same as Wyndham Hotels?

No. Travel + Leisure Co. and Wyndham Hotels & Resorts are separate, independent, publicly traded companies. They separated in 2018. TNL licenses the Wyndham name for its Club Wyndham and WorldMark by Wyndham vacation ownership brands. TNL does not own or operate Wyndham-branded hotels.

What is the difference between Club Wyndham and WorldMark?

Club Wyndham uses deeded ownership at a specific resort with a points system. WorldMark uses a trust structure without a home resort. Club Wyndham is the larger programme spanning popular U.S. vacation destinations. WorldMark is concentrated in the western and northwestern United States with nearly 100 resort destinations.

What is TNL’s annual revenue?

Travel + Leisure Co. reported $4.02 billion in total revenue for fiscal year 2025. By revenue, TNL ranks third behind MVW ($5.03 billion) and HGV ($5.05 billion). TNL is the largest by owner count (797,000 families) and resort count (280+). Source: TNL FY2025 10-K filing.

What is RCI?

RCI is the world’s largest timeshare exchange network. TNL owns RCI. RCI has 3.3 million+ exchange members and 3,600+ affiliated resorts in 110+ countries. All TNL vacation ownership brands connect to RCI, giving owners access to exchange their points or weeks for stays at resorts outside the TNL portfolio.

Information in this article is current as of April 2026. Vacation ownership programs, pricing, and resort facilities are subject to change. Please consult each company’s official materials before making purchase decisions. VacationPlaces does not endorse or recommend any specific product.