Travel + Leisure Co.
Travel + Leisure Co. is a U.S.-based vacation ownership, timeshare exchange, and membership travel company formerly known as Wyndham Worldwide and Wyndham Destinations.
Last updated August 31, 2026
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Overview
Travel + Leisure Co. is an American vacation ownership and membership travel company headquartered in Orlando, Florida. Although the supplied historical name is Wyndham Worldwide, the authoritative subject is Travel + Leisure Co., the company that emerged from the 2018 separation of Wyndham's hotel business and adopted its current name in 2021. The company develops, markets, sells, finances, and manages vacation ownership interests, while also operating vacation exchange, travel membership, and related technology businesses. The company's corporate roots extend to Hospitality Franchise Systems, established in 1990 as an acquisition vehicle for hotel franchises. Hospitality Franchise Systems built a large lodging portfolio during the 1990s, acquiring brands including Days Inn, Howard Johnson, Ramada, and Super 8. In 1996 it acquired Resort Condominiums International, commonly known as RCI, a timeshare exchange business that became a major part of the group's later travel platform. Hospitality Franchise Systems merged with CUC International in 1997 to create Cendant Corporation. Cendant subsequently expanded its vacation ownership activities through the acquisitions of Fairfield Communities in 2001 and Trendwest Resorts in 2002, and acquired the Wyndham hotel brand from the Blackstone Group in 2005. On July 31, 2006, Cendant separated into several publicly traded businesses. Wyndham Worldwide was created with the former group's hotel and timeshare operations. For much of its existence, the company therefore combined hotel franchising, vacation ownership, exchange services, and vacation rentals under a broad travel portfolio. It expanded its vacation ownership platform through the 2013 acquisition of Shell Vacations Club, a transaction valued at $102 million plus assumed debt of $153 million according to the cited reference material. The company's structure changed substantially in 2018. In August 2017, Wyndham announced a plan to separate its hotel division. The spin-off was completed on May 31, 2018, creating Wyndham Hotels & Resorts as a separate public company. The remaining vacation ownership and travel businesses were renamed Wyndham Destinations. In the same period, the company sold its European vacation rental business to Platinum Equity for approximately $1.3 billion, including brands such as cottages.com, Hoseasons, James Villa Holidays, Landal GreenParks, and Novasol. It later sold its North American vacation rental business and related brands to Vacasa in July 2019 and acquired Alliance Reservations Network for $92 million in August 2019. In 2021, Wyndham Destinations acquired the Travel + Leisure brand from Meredith Corporation, now known as People Inc., and changed its corporate name to Travel + Leisure Co. The Travel + Leisure magazine continues to be published independently by People under a long-term license arrangement. The company's current portfolio includes vacation ownership clubs such as Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Accor Vacation Club, as well as RCI exchange services and travel membership products including Travel + Leisure GO. Travel + Leisure Co. reports two principal business lines: Vacation Ownership and Travel & Membership. Vacation Ownership covers sales and marketing of vacation ownership interests, consumer financing connected with purchases, resort development and acquisition, and property management services for owners' associations. Travel & Membership includes timeshare exchange, membership travel, and travel technology activities. The company describes its vacation ownership network as extending across North America, the Caribbean, and the South Pacific, with more than 270 properties, approximately 25,000 individual units, and more than 800,000 owners in the reference material. Its former exchange and rental platform served properties in more than 100 countries. The business remains active under the Travel + Leisure Co. name.
History
Travel + Leisure Co.'s history begins with Hospitality Franchise Systems, founded in 1990 as a vehicle for acquiring hotel franchises. During the 1990s, Hospitality Franchise Systems assembled a substantial lodging portfolio, acquiring Days Inn, Howard Johnson, Ramada, and Super 8 by 1995. It entered the vacation exchange sector in 1996 by acquiring Resort Condominiums International, or RCI. In 1997, Hospitality Franchise Systems merged with CUC International to form Cendant Corporation. Cendant broadened the group's vacation ownership exposure through the acquisition of Fairfield Communities in 2001 and Trendwest Resorts in 2002. In 2005, Cendant acquired the Wyndham hotel brand from the Blackstone Group, adding a prominent identity that would later be used by the company's hotel and vacation ownership businesses. Cendant's planned division into separate companies led to the formation of Wyndham Worldwide on July 31, 2006. The new company received Cendant's hotel and timeshare operations. It subsequently operated across several travel categories, including hotel franchising, vacation ownership, exchange services, and vacation rentals. In 2013, it acquired Shell Vacations Club for $102 million plus $153 million of assumed debt, strengthening its vacation ownership platform. The company began simplifying its structure in the late 2010s. In August 2017, it announced that its hotel division would be separated from the rest of the business. The transaction closed on May 31, 2018, when Wyndham Hotels & Resorts became an independent publicly traded company. The remaining company changed its name to Wyndham Destinations and focused on vacation ownership, exchange, and membership travel. In 2018, it also sold its European vacation rental operations to Platinum Equity for approximately $1.3 billion. The divestment included several established rental brands, among them cottages.com, Hoseasons, James Villa Holidays, Landal GreenParks, and Novasol. In July 2019, Wyndham Destinations sold its North American vacation rental business and associated brands to Vacasa, and in August 2019 it acquired Alliance Reservations Network for $92 million. A further identity change occurred in 2021. Wyndham Destinations acquired the Travel + Leisure brand from Meredith Corporation and adopted Travel + Leisure Co. as its corporate name. The magazine itself remained a separately published People property under a long-term licensing agreement. The renamed company retained and developed its vacation ownership and travel membership operations rather than becoming a conventional magazine publisher. The company's current business is organized around Vacation Ownership and Travel & Membership. Vacation Ownership includes the sale and marketing of vacation ownership interests, related consumer financing, resort development and acquisitions, and services for property owners' associations. Travel & Membership includes RCI's exchange activities, travel clubs, membership products, and technology businesses. The portfolio includes Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, Accor Vacation Club, RCI, and Travel + Leisure GO. The cited reference describes a vacation ownership network of more than 270 properties, approximately 25,000 units, and over 800,000 owners across North America, the Caribbean, and the South Pacific.
- 2021
Company becomes Travel + Leisure Co.
[1]Following its acquisition of the Travel + Leisure brand from Meredith Corporation, Wyndham Destinations adopts the Travel + Leisure Co. name.
- 2019
North American vacation rental business is sold
[1]Wyndham Destinations sells its North American vacation rental business and related brands to Vacasa.
- 2018
Hotel business is separated
[1]Wyndham Hotels & Resorts becomes a separate company on May 31, and the remaining company becomes Wyndham Destinations.
- 2016
Wyndham Destination Network name is introduced
[1]The former Wyndham Exchange and Rentals business adopts the Wyndham Destination Network name as the company reorganizes its travel and membership activities.
- 2013
Shell Vacations Club is acquired
[1]Wyndham acquires Shell Vacations Club for $102 million plus $153 million of assumed debt.
- 2006
Wyndham Worldwide is spun off from Cendant
[1]Wyndham Worldwide is created on July 31 as part of Cendant's division into separate companies.
- 2005
Wyndham hotel brand is acquired
[1]Cendant purchases the Wyndham hotel brand from the Blackstone Group.
- 2002
Trendwest Resorts is acquired
[1]Cendant acquires Trendwest Resorts, adding further vacation ownership operations.
- 2001
Fairfield Communities is acquired
[1]Cendant expands its vacation ownership activities through the acquisition of Fairfield Communities.
- 1997
Cendant Corporation is formed
[1]Hospitality Franchise Systems merges with CUC International to create Cendant Corporation.
Products and positioning
A global vacation ownership and membership travel platform combining resort-based timeshare products, exchange services, vacation clubs, and travel technology.
Vacation ownership club
Club Wyndham
A vacation ownership club associated with the Wyndham portfolio. It provides members with access to vacation accommodations through an ownership-based points and resort network model.
Vacation ownership club
WorldMark by Wyndham
A vacation ownership brand serving members through a network of resort accommodations, particularly associated with destinations in North America and the South Pacific.
Vacation ownership club
Margaritaville Vacation Club
A branded vacation ownership club operated within the company's portfolio and connected to Margaritaville-themed resort and leisure experiences.
Vacation ownership club
Accor Vacation Club
A vacation ownership offering operated within the company's portfolio under the Accor Vacation Club identity.
Timeshare exchange · 1974
RCI
The company's principal vacation exchange business. RCI enables participating vacation ownership members to exchange usage rights for stays at other resorts and destinations.
Travel membership
Travel + Leisure GO
A travel membership product associated with the Travel + Leisure Co. portfolio, intended to provide members with access to travel offers, booking capabilities, and related benefits.
Controversies
2016
Investigations into Wyndham vacation ownership sales practices
Wyndham Vacation Resorts faced investigations into sales practices in Pennsylvania and Wisconsin. In Pennsylvania, the state Real Estate Commission fined Wyndham and broker Craig Roberts a combined $15,000 in connection with the company's Shawnee-on-Delaware location. In Wisconsin, Wyndham settled similar allegations and paid $655,000 in restitution to 29 consumers.
2016
Trish Williams wrongful-termination verdict
A San Francisco jury awarded $20 million to former Wyndham timeshare sales representative Trish Williams. The case concerned allegations that she was wrongfully terminated in 2010 after reporting timeshare fraud involving elderly customers.
Brand decisions
2021
Adopt the Travel + Leisure corporate identityStrategyBackground
The company wanted to build a broader consumer-facing travel identity after separating its hotel division and focusing on vacation ownership and membership travel.
Action taken
After acquiring the Travel + Leisure brand from Meredith Corporation, Wyndham Destinations changed its corporate name to Travel + Leisure Co.
Aftermath
The company continued operating vacation ownership and travel membership businesses under a name associated with a licensed travel media brand. The Travel + Leisure magazine remained independently published by People under a long-term license.
2019
Acquire Alliance Reservations NetworkM&ABackground
Wyndham Destinations sought to broaden its travel technology and reservation capabilities.
Action taken
The company acquired Alliance Reservations Network.
Aftermath
The acquisition added reservation and travel technology capabilities to the Travel & Membership business.
Acquisition price. $92 million (August 2019)
2018
Sell the European vacation rental businessM&ABackground
Following the hotel separation, the company continued to narrow its focus on vacation ownership, exchange, and membership travel.
Action taken
The European vacation rental business, including several established rental brands, was sold to Platinum Equity.
Aftermath
The sale reduced the company's direct exposure to European vacation rentals.
Reported transaction value. Approximately $1.3 billion (2018)
2017
Separate the hotel divisionStrategyBackground
Wyndham Worldwide operated both hotel and vacation ownership businesses, but management announced a plan to create a more focused vacation ownership company.
Action taken
The company announced that its hotel division would be spun off to shareholders as a separate publicly traded company.
Aftermath
The separation closed in 2018, creating Wyndham Hotels & Resorts and leaving Wyndham Destinations as a vacation ownership and travel company.
2013
Acquire Shell Vacations ClubM&ABackground
The company sought to expand its vacation ownership platform.
Action taken
Wyndham acquired Shell Vacations Club for $102 million and assumed $153 million of debt.
Aftermath
The transaction added Shell Vacations Club to the company's vacation ownership portfolio.
Acquisition consideration and assumed debt. $102 million consideration plus $153 million assumed debt (2013)
2006
Create Wyndham Worldwide through a corporate spin-offM&ABackground
Cendant planned to divide its hotel, travel, vehicle-rental, and related businesses into separate companies.
Action taken
On July 31, Wyndham Worldwide was established with Cendant's hotel and timeshare operations.
Aftermath
The new company became the corporate platform that later separated its hotel business and evolved into Travel + Leisure Co.
Recent events
- 2021
Travel + Leisure brand is acquired and adopted as the corporate name[1]
M&A · Leadership change
Wyndham Destinations acquired the Travel + Leisure brand from Meredith Corporation and changed its corporate name to Travel + Leisure Co.
- 2019
North American vacation rental business is sold to Vacasa[1]
M&A
Wyndham Destinations sold its North American vacation rental business and associated brands to Vacasa.
- 2018
Wyndham Hotels & Resorts is separated from the company[1]
M&A
The hotel division became Wyndham Hotels & Resorts on May 31, 2018, while the remaining business was renamed Wyndham Destinations.
- 2018
European vacation rental business is sold to Platinum Equity[1]
M&A
Wyndham Worldwide completed the sale of its European vacation rental operations and associated brands to Platinum Equity for approximately $1.3 billion, according to the reference material.
- 2018
Wyndham Hotels & Resorts is separated from Wyndham Destinations[1]
Other
The hotel division became Wyndham Hotels & Resorts, while the remaining company was renamed Wyndham Destinations.
- 2017
Wyndham Worldwide announces hotel division separation[1]
M&A
The company announced plans to spin off its hotel business, allowing the remaining company to focus on vacation ownership and related travel services.
- 2017
Wyndham announces hotel-business separation[1]
Other
Wyndham Worldwide announced plans to spin off its hotel division, leaving the remaining company more focused on vacation ownership and related travel businesses.
- 2006
Wyndham Worldwide is created through the Cendant spin-off[1]
M&A · Other
Cendant separated its businesses into several independent companies, creating Wyndham Worldwide with the former group's hotel and timeshare operations.
- 2006
Wyndham Worldwide is spun off from Cendant[1]
Other
Cendant separated its hotel and timeshare businesses into the newly established Wyndham Worldwide.
Sources4 sources
- 1Travel + Leisure Co.en.wikipedia.org
- 2Wyndham Destinations Acquires Travel + Leisure Brandftnnews.com
- 3Wyndham Destinations acquires Travel + Leisure in $100 million dealorlandosentinel.com
- 4Wyndham Destinations Announces Upsizing And Pricing Of $650 Million Of Senior Secured Notes Due 2026prnewswire.com
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