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
OnJanuary 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 byJune 2024 . This acquisition included Travel + Leisure branded travel clubs and members. We acquired the...