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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Total revenues $ 4,981 $ 3,978 $ 3,835
Expenses      
General and administrative 199 194 212
Depreciation and amortization 268 213 244
Impairment expense 2 3 17
Total operating expenses 4,523 3,365 3,224
Interest expense (329) (178) (142)
Equity in earnings from unconsolidated affiliates 18 12 13
Other (loss) gain, net (11) 2 (1)
Income before income taxes 136 449 481
Income tax expense (76) (136) (129)
Net income 60 313 352
Net income attributable to noncontrolling interest 13 0 0
Net income attributable to stockholders $ 47 $ 313 $ 352
Earnings per share attributable to stockholders:      
Basic (in dollars per share) $ 0.46 $ 2.84 $ 2.98
Diluted (in dollars per share) $ 0.45 $ 2.80 $ 2.93
Sales of VOIs, net      
Revenues      
Total revenues $ 1,909 $ 1,416 $ 1,491
Sales, marketing, brand and other fees      
Revenues      
Total revenues 637 634 620
Financing      
Revenues      
Total revenues 464 307 267
Expenses      
Expenses 188 99 103
Resort and club management      
Revenues      
Total revenues 722 569 534
Expenses      
Expenses 211 177 161
Rental and ancillary services      
Revenues      
Total revenues 733 666 626
Expenses      
Expenses 724 612 579
Cost reimbursements      
Revenues      
Total revenues 516 386 297
Expenses      
Expenses 516 386 297
Cost of VOI sales      
Expenses      
Expenses 239 194 274
Sales and marketing      
Expenses      
Expenses 1,768 1,281 1,146
Acquisition and integration-related expense      
Expenses      
Expenses 237 68 67
License fee expense      
Expenses      
Expenses $ 171 $ 138 $ 124