Travel + Leisure Co
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Travel + Leisure Co (TNL). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Vacation Ownership | $1.64B 75.6% | $2.42B 77.2% · +48.0% | $2.84B 79.4% · +17.0% | $3.04B 81.1% · +7.3% | $3.17B 82.0% · +4.3% | $3.36B 83.5% · +6.0% |
| Travel and Membership | $528.0M 24.4% | $714.0M 22.8% · +35.2% | $735.0M 20.6% · +2.9% | $711.0M 18.9% · -3.3% | $695.0M 18.0% · -2.3% | $662.0M 16.5% · -4.7% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| United States | $1.90B 88.1% | $2.75B 87.8% · +44.6% | $3.17B 88.8% · +15.0% | $3.32B 88.5% · +4.9% | $3.40B 88.1% · +2.5% | $3.55B 88.2% · +4.1% |
| Non-US | – | – | – | $430.0M 11.5% | $460.0M 11.9% · +7.0% | $476.0M 11.8% · +3.5% |
| All Other Countries | $256.0M 11.9% | $381.0M 12.2% · +48.8% | $401.0M 11.2% · +5.2% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Vacation ownership interest sales | $505.0M 23.4% | $1.18B 37.5% · +132.9% | $1.48B 41.6% · +26.2% | $1.58B 42.2% · +6.6% | $1.72B 44.5% · +8.8% | $1.85B 45.9% · +7.3% |
| Service and membership fees | $1.14B 52.7% | $1.50B 47.9% · +31.9% | $1.61B 45.2% · +7.3% | $1.65B 44.0% · +2.4% | $1.61B 41.6% · -2.5% | $1.62B 40.2% · +0.5% |
| Consumer financing | $467.0M 21.6% | $404.0M 12.9% · -13.5% | $406.0M 11.4% · +0.5% | $427.0M 11.4% · +5.2% | $450.0M 11.6% · +5.4% | $454.0M 11.3% · +0.9% |
| Other | $49.0M 2.3% | $52.0M 1.7% · +6.1% | $66.0M 1.9% · +26.9% | $92.0M 2.5% · +39.4% | $86.0M 2.2% · -6.5% | $105.0M 2.6% · +22.1% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 14, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.