Travel Leisure Co. (TNL) Stock Price & How to Invest

Travel + Leisure Co, formerly Wyndham Destinations, is one of the largest vacation-ownership companies in the world. Its core business develops, sells and finances timeshare interests under brands including Club Wyndham, WorldMark, Margaritaville Vacation Club, Sports Illustrated Resorts and Accor Vacation Club, and it earns money three ways: selling vacation-ownership interests (VOIs), financing those purchases with consumer loans, and collecting recurring management and club fees. A second, smaller Travel and Membership segment runs exchange networks (RCI) and subscription travel clubs. In 2025 the company reported roughly $4.0 billion in net revenue and about $230 million in net income, with adjusted EBITDA near $990 million.

The investment picture is that of a mature, capital-returning consumer-cyclical: modest top-line growth driven by tours, volume per guest (VPG) and new-owner mix, offset by exposure to the health of the leisure consumer and to the performance of the receivables it carries on its balance sheet. Management leans heavily on shareholder returns, paying a dividend yielding around 3% and repurchasing stock under a large buyback authorization. The stock tends to trade at a lower earnings multiple than asset-light hotel brands because timeshare carries development capital and consumer-lending risk, which is the central trade-off for anyone weighing it.

TNL is a consumer-cyclical, so a slowdown in discretionary leisure spending or a weaker economy can quickly pressure timeshare sales and tour volumes. Because the company finances many buyers itself, rising loan delinquencies and defaults can raise its loan-loss provision and hit earnings, and higher interest rates increase its own cost of funding the securitized receivables. The Travel and Membership segment has been softening (revenue down about 8% in Q1 2026), and the business carries meaningful debt. Timeshare also faces reputational and regulatory scrutiny around sales practices and contract cancellations, and competition from hotels, cruises and short-term rentals is persistent.

10 analysts publish price targets on TNL, averaging $91.60 against a $76.02 price as of August 2026, or +20.5%. The published targets run from $77.00 to $107.00, a moderate spread, and the ratings split 11 buy, 1 hold, 0 sell. Over the last six months there have been 4 raises and 4 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full TNL forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Travel Leisure Co.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Resilient vacation-ownership demand. The Vacation Ownership segment, which is the bulk of revenue, grew about 6% year over year in Q1 2026 with gross VOI sales up 7%. The most optimistic published target, $107.00, assumes this works close to its best case.

The case against. TNL is a consumer-cyclical, so a slowdown in discretionary leisure spending or a weaker economy can quickly pressure timeshare sales and tour volumes. The most pessimistic target, $77.00, is roughly what TNL is worth if this bites instead.

Read the full bull and bear case on TNL, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Travel Leisure Co.'s investor relations page or your broker.

• Revenue (2025): ~$4.0B
• Net income (2025): ~$230M
• Adjusted EBITDA (2025): ~$990M
• Market cap: ~$4.7B
• P/E (TTM): ~21x
• Dividend yield: ~3.2%

As of July 2026 TNL trades around the mid-$70s with a market cap near $4.7 billion and a trailing P/E of roughly 21. The dividend yields about 3.2% on a $2.40 annual payout. The valuation sits below asset-light hotel brands, reflecting the development capital and consumer-lending risk embedded in the timeshare model; management guides full-year 2026 adjusted EBITDA to roughly $1.03 to $1.055 billion.

Other names that sit close to TNL: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get TNL exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so TNL sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where TNL fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

TNL is an established, cash-generative vacation-ownership operator that pays a healthy dividend and buys back stock, but its fortunes rise and fall with consumer leisure spending and the credit quality of the loans it makes to timeshare buyers.

Whether TNL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TNL a buy or a sell?, and where the stock could go from here in the TNL stock forecast.

For income investors, whether TNL pays a dividend and how the payout looks is covered in does TNL pay a dividend? And to weigh TNL against a peer, read the full side-by-side comparisons: TNL vs HGV and TNL vs VAC.