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Travel + Leisure Co (NYSE:TNL) officially debuted on the New York Stock Exchange today, marking a significant milestone as it transitions from its previous name, Wyndham Destinations (NYSE:WYND). This change follows the acquisition of the Travel + Leisure brand in January. CEO Michael Brown emphasized the strategic advantages this new identity brings to expand within the global leisure travel market. The company will retain its diverse portfolio while launching innovative travel products and services, aiming to meet the growing demand for travel experiences.
Extra Holidays, an online travel provider, celebrates Groundhog Day with a special promotion offering 30% off seven-night stays at select winter and spring vacation destinations. The offer is contingent on Punxsutawney Phil’s prediction on February 2, determining if guests can enjoy skiing or warmer getaways. Families can book by February 9 for travel by June 20, 2021, utilizing promo code HIBERNATE. The initiative aims to brighten winter blues and provide affordable vacation options at resorts such as Club Wyndham and WorldMark.
Wyndham Destinations (NYSE:WYND) will release its fourth quarter and full-year 2020 financial results on February 24, 2021, before market open. Following this, a conference call will take place at 8:30 a.m. ET, featuring CEO Michael D. Brown and CFO Michael Hug discussing the company's performance and outlook. The company recently acquired the Travel + Leisure brand and will change its name to Travel + Leisure Co. and its ticker symbol to TNL on February 17. The acquisition, completed on January 5, will not affect 2020 results.
Wyndham Destinations (NYSE: WYND) reported preliminary operating metrics for Q4 2020, revealing gross vacation ownership interest (VOI) sales of $281 million. This marks a 51.8% decline year-over-year, primarily due to COVID-19 restrictions, particularly in Hawaii and California. Tour sales fell by 63.8% year-over-year. Excluding affected areas, VOI sales decreased by 48.5%. Despite these challenges, the company anticipates a strong return of leisure travel in 2021, with positive adjusted free cash flow expected for the full year. The loan loss provision is projected to remain below 20%.
Wyndham Destinations (NYSE:WYND) has acquired the Travel + Leisure brand from Meredith Corporation for $100 million, funded by $35 million at closing and trailing payments by June 2024. This acquisition enhances Wyndham’s position in the vacation club market and offers access to a global audience of 35 million. Wyndham plans to rebrand itself as Travel + Leisure Co. in early 2021, aiming to grow through new services and licensing opportunities. The acquisition is expected to be neutral to earnings in its first year and accretive by the second year.
Wyndham Destinations announced the reopening of Limetree Beach Resort by Club Wyndham and Club Wyndham Elysian Beach Resort in St. Thomas after a three-year hiatus. Limetree Beach Resort features 74 renovated vacation club suites, including 10 new oceanfront suites, and upgraded amenities such as a pool with a swim-up bar. Club Wyndham Elysian Beach Resort has refurbished all 69 suites. Both resorts offer easy access to local attractions and amenities, aiming to enhance guest experiences.
Wyndham Destinations (NYSE: WYND) presented at the Barclays Eat, Sleep, Play Conference, where executives provided insights into recent operational metrics. Gross Vacation Ownership Interest (VOI) sales reached $195 million in October, with estimates of $85 million for November. Although North American tour-generated VOI sales declined 46% year-over-year in October, this marks an improvement from the previous months. The company expects a 60% decline in tours and a 45% drop in gross VOI sales year-over-year for Q4 2020. Despite challenges, positive adjusted free cash flow is projected for the full year.
Wyndham Destinations (NYSE: WYND) announced that CEO Michael D. Brown will present at the Barclays Eat, Sleep, Play Conference on December 1, 2020, at 11:20 a.m. ET. A live audio webcast of the event will be accessible via the investor relations section of the company's website, with a replay available for 30 days. Wyndham Destinations, the largest vacation club and exchange company globally, offers over 4 million members vacation ownership options through various brands and a presence in 110 countries.
The online vacation provider Extra Holidays is launching a Black Friday sale offering up to 35% off on apartment-style suites at over 60 resorts. This promotion runs from November 24 to November 30, 2020, for travel through April 11, 2021. Featured destinations include popular locations like Orlando, Hawaii, and the Caribbean. Reservations require a two-night minimum and are subject to availability. This offer allows families to utilize unused PTO effectively while enjoying vacation club resorts alongside branded hospitality protocols.
Wyndham Destinations announced the launch of 7Across, a new branding for its timeshare exchange platform previously known as Dial an Exchange (DAE). This initiative aims to simplify and enhance the vacation ownership experience for its members worldwide, offering numerous benefits without additional costs. With over 20 million timeshare owners globally, 7Across provides a free membership model that allows users to exchange stays at over 2,700 resorts, access discounted hotel rooms, and enjoy flexible booking options. The platform focuses on transparency and accessibility in vacation planning.
