Travel + Leisure(US:TNL)2022-03-07 18:26Financial Performance & Targets - For the three months ended December 31, 2021, net revenue was $870 million and Gross VOI Sales was $432 million[9] - For the twelve months ended December 31, 2021, net revenue was $3222 billion and Gross VOI Sales was $15 billion[11, 12] - The company is targeting an Adjusted EBITDA growth rate of 11-14% from 2021-2025[23] - The company is targeting an Adjusted FCF conversion range of 58-63% from 2022-2025[23] Vacation Ownership - Wyndham Destinations has a scale of 245+ resorts and 833K owners[46] - Approximately 80% of owners have no loans outstanding[53] - The annual retention rate of owners is about 98%[54] - Sales to Millennials/GenX account for 65% of sales[55] RCI Business - RCI has 36 million members and 4200 resorts across ~110 countries[71, 72] Growth Outlook - Vacation Ownership is projected to have a revenue CAGR of 9-10% from 2021-2025, with Gross VOI Sales between $25 billion and $26 billion in 2025[99] - Travel and Membership is projected to have a revenue CAGR of 27-30% from 2021-2025[104]