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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income (loss) $ 68 $ (12)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 71 67
Amortization of deferred financing costs, acquisition premiums and other 15 19
Provision for loan losses 89 79
Other loss (gain), net 1 (6)
Share-based compensation 11 12
Deferred income tax expense 0 6
Equity in earnings from unconsolidated affiliates (5) (5)
Return on investment in unconsolidated affiliates 1 5
Net changes in assets and liabilities:    
Accounts receivable, net (3) (60)
Timeshare financing receivables, net (113) (93)
Inventory (11) (33)
Purchases and development of real estate for future conversion to inventory (15) (52)
Other assets (412) (391)
Accounts payable, accrued expenses and other 238 223
Advanced deposits 5 10
Deferred revenue 188 269
Net cash provided by operating activities 128 38
Investing Activities    
Capital expenditures for property and equipment (excluding inventory) (6) (14)
Software capitalization costs (14) (18)
Net cash used in investing activities (20) (32)
Financing Activities    
Proceeds from debt 755 645
Proceeds from non-recourse debt 585 750
Repayment of debt (545) (806)
Repayment of non-recourse debt (752) (625)
Payment of debt issuance costs 0 (7)
Repurchase and retirement of common stock (150) (150)
Payment of withholding taxes on vesting of restricted stock units (14) (7)
Proceeds from stock option exercises 1 0
Other (2) (1)
Net cash used in financing activities (122) (201)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (5) 0
Net decrease in cash, cash equivalents and restricted cash (19) (195)
Cash, cash equivalents and restricted cash, beginning of period 571 765
Cash, cash equivalents and restricted cash, end of period 552 570
Less: Restricted cash 291 311
Cash and cash equivalents $ 261 $ 259