Travel + Leisure Co. Q1 2026 Earnings Call Summary

Travel + Leisure Co. Q1 2026 Earnings Call Summary Moby Intelligence Wed, April 22, 2026 at 12:47 PM EDT 3 min read TNL PRKS Travel + Leisure Co. Q1 2026 Earnings Call Summary - Moby Strategic Execution and Operational Context Performance was driven by strong execution in Vacation Ownership and resilient owner demand, resulting in 180 basis points of EBITDA margin expansion. The resort optimization initiative is successfully realizing expense savings while maintaining historical sales growth rates despite the closure of aging, lower-demand resorts. Management attributes the 7% gross VOI sales growth to a 5% increase in tour flow and volume per guest (VPG) performing above internal plans. The multi-brand strategy is gaining traction, with Margaritaville approaching $150 million in annual sales and the new Eddie Bauer and Sports Illustrated brands expanding the addressable market. Owner behavior remains stable with a steady 100-day booking window and consistent length of stay, suggesting the value proposition remains relevant to the 80% of owners who have paid off their loans. Strategic partnerships, including an expanded 5-year agreement with United Parks & Resorts, are strengthening top-of-funnel demand and new owner acquisition prospects. Outlook and Strategic Assumptions Full-year 2026 guidance is reaffirmed, assuming mid-single-digit tour flow growth and gross VOI sales between $2.5 billion and $2.6 billion. Free cash flow generation is expected to be backloaded in 202…