TRAVEL & LEISURE CO. Management’s Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)

FORWARD-LOOKING STATEMENTS

This report includes "forward-looking statements" as that term is defined by the
Securities and Exchange Commission ("SEC"). Forward-looking statements are any
statements other than statements of historical fact, including statements
regarding our expectations, beliefs, hopes, intentions or strategies regarding
the future. In some cases, forward-looking statements can be identified by the
use of words such as "may," "will," "expects," "should," "believes," "plans,"
"anticipates," "estimates," "predicts," "potential," "continue," "future,"
"intend," and other words of similar meaning. Forward-looking statements are
subject to risks and uncertainties that could cause actual results of Travel +
Leisure Co. and its subsidiaries ("Travel + Leisure Co." or "we") to differ
materially from those discussed in, or implied by, the forward-looking
statements. Factors that might cause such a difference include, but are not
limited to, risks associated with: the acquisition of the Travel + Leisure brand
and the future prospects and plans for Travel + Leisure Co., including our
ability to execute our strategies to grow our cornerstone timeshare and exchange
businesses and expand into the broader leisure travel industry through new
business extensions; our ability to compete in the highly competitive timeshare
and leisure travel industries; uncertainties related to acquisitions,
dispositions and other strategic transactions; the health of the travel industry
and declines or disruptions caused by adverse economic conditions and
unemployment rates, terrorism or acts of gun violence, political strife, war,
including hostilities in Ukraine, pandemics, and severe weather events and other
natural disasters; adverse changes in consumer travel and vacation patterns,
consumer preferences and demand for our products; increased or unanticipated
operating costs and other inherent business risks; our ability to comply with
financial and restrictive covenants under our indebtedness and our ability to
access capital markets on reasonable terms, at a reasonable cost or at all;
maintaining the integrity of internal or customer data and protecting our
systems from cyber-attacks; uncertainty with respect to the scope, impact and
duration of the novel coronavirus global pandemic ("COVID-19"), including
resurgences, the pace of recovery, distribution and adoption of vaccines and
treatments, and actions in response to the evolving pandemic 
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TRAVEL & LEISURE CO. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K)

BUSINESS AND OVERVIEW

We are a global provider of hospitality services and travel products and operate
our business in the following two segments:

•Vacation Ownership - develops, markets and sells vacation ownership interests
("VOIs") to individual consumers, provides consumer financing in connection with
the sale of VOIs, and provides property management services at resorts.

•Travel and Membership – operates a variety of travel businesses, including
three vacation exchange brands, a home exchange network, travel technology
platforms, travel memberships, and direct-to-consumer rentals.

Travel + Leisure Brand Acquisition

On January 5, 2021, Wyndham Destinations, Inc. acquired the Travel + Leisure
brand and related assets from Meredith Corporation ("Meredith") for $100
million, of which $55 million was paid during 2021. The remaining payments are
to be completed by June 2024. This acquisition included Travel + Leisure branded
travel clubs and members. We acquired the Travel + Leisure brand to accelerate
our strategic plan to broaden our reach with the launch of new travel services,
expand our membership travel business, and amplify the global visibility of our
leisure travel products. Meredith will continue to operate and monetize Travel +
Leisure branded multi-platform media assets across multiple channels under a
30-year royalty-free, renewable licensing relationship. In connection with this
acquisition, on February 17, 2021, Wyndham Destinations, Inc. was renamed Travel
+ Leisure Co. and continues to trade on the New York Stock Exchange under the
new ticker symbol TNL.

In connection with the Travel + Leisure brand acquisition we updated the names
and composition of our reportable segments to better align with how they are
managed. We created the Travel + Leisure Group which falls under the Travel and
Membership segment along with the Panorama business line. With the formation of
the Travel + Leisure Group, we decided that the operations of our Extra Holidays
business, which focuses on direct-to-consumer bookings, better aligns with the
operations of this new business line and therefore transitioned the management
of our Extra Holidays business to the Travel and Membership segment. As such, we
reclassified the results of our Extra Holidays business, which were 
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Terrific Bay Condition spots to make getaway 7 days unforgettable

Are we definitely back to pondering adventures closer to home for a even though?

Thanks, omicron.

But we New Englanders are savvy, resourceful and tricky as nails.

We also occur to live where there is heaps to do and see and investigate inside of driving distance.

This holiday getaway 7 days, look at these excursions that will maintain the little ones fast paced and entertain the grownups as very well. All  make good day visits, are simple to entry and can make a holiday vacation week unforgettable.

Find out your interior paleontologist: No need to e book passage to the Sahara to learn dinosaurs and their heritage: Faneuil Hall is wherever it’s at with Dino Safari Boston: A Stroll-Via Journey (dinosafariboston.com).

Dinosaur fans of all ages have the possibility to learn about dino evolution around time along with the discoveries paleontologists have made about their conduct.

While it wows from start out to finish, it is also obtained severe science cred. The exhibit’s adviser is environment-renowned paleontologist Dr. Gregory M. Erickson.

You are going to see fossils, a lot of types of superior animatronic dinosaurs, and be invited to engage in interactive games.

The tour will take about an hour and charges $20 young children 2 and beneath are absolutely free. And because it is proper in the coronary heart of Boston, you can adhere to it up with a quick lunch proper at Faneuil Hall or a take a look at to the Boston Public Marketplace correct across the road.

Pro tip: Tickets are promoting speedily. Guide now for your experience.

A drive by way of the Berkshires on the way to or from the Mohawk Trail Point out Forest affords many opportunities to check out out other hikes or just acquire in the beautiful surroundings. (Photo courtesy Massachusetts Business of Journey and Tourism)

Get out, get moving: Winter season hikes are super entertaining, and a good way for children — and older people — to not only get out, breathe refreshing air and move, but also to master.

Massachusetts (and encompassing states) have a great number

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HTA: Maui County has major holiday vacation rental provide in condition in November 2021

Maui ADR up 16% from 2019

Maui County experienced the premier trip rental provide of all 4 counties in November, with 189,300 obtainable unit evenings (-15.6% vs. 2020, -37.8% vs. 2019), in accordance to the Hawaiʻi Family vacation Rental Efficiency Report issued by the Hawai.i Tourism Authority.

Unit need in Maui County was 122,700 device nights (+87.2% vs. 2020, -46.9% vs. 2019), resulting in 64.8% occupancy (+35.6 share points vs. 2020, -11.1 percentage factors vs. 2019), the HTA reports.

The Regular Everyday Rate in Maui County was $285 (+19.5% vs. 2020, +16.3% vs. 2019). In comparison, Maui County inns described ADR at $531 and occupancy of 65.4%, in accordance to the report.

Maui County Holiday vacation Rental Efficiency. Personal computer: Hawaiʻi Tourism Authority.

Statewide overview:

Statewide, Hawaiʻi getaway rentals statewide described considerable improves in provide, desire, occupancy and regular daily charge in November 2021 when compared to November 2020. Having said that, in comparison to November 2019, ADR was better in November 2021, but holiday vacation rental source, demand and occupancy had been down, according to the HTA.

The facts in the Hawaiʻi Getaway Rental Efficiency Report utilized facts compiled by Transparent Intelligence, Inc.

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In November 2021, the full monthly source of statewide vacation rentals was 547,600 unit nights (-1.3% vs. 2020, -40.4% vs. 2019) and every month demand from customers was 343,900 unit evenings (+96.% vs. 2020, -45.5% vs. 2019). That resulted in an normal monthly device occupancy of 62.8% (+31.2 percentage details vs. 2020, -5.8 percentage details vs. 2019) for November. Occupancy for Hawaiʻi’s motels was 59.7% in November 2021.

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The ADR for holiday rental models statewide in November was $248 (+7.8% vs. 2020, +17.5% vs. 2019). By comparison the ADR for resorts was $333 in November 2021.

For November 2021, the report bundled details for 25,966 models, symbolizing 44,157 bedrooms in the Hawaiian Islands.

The HTA notes that in contrast to inns, units in holiday vacation rentals are not always readily available 12 months-round or each individual working day of the month and often accommodate a much larger

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