TNL revenue +4.4% as resort optimization completes, two acquisitions expand network

Filed July 22, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 23, 2025 · ~2 min read

Key Changes

• high

  Completed $193M Yes& Vacations acquisition and signed $150M Spinnaker Resorts deal (closing Q3), expanding resort network and owner base with transactions expected to be immediately accretive.

  Notes: Yes& Vacations and Spinnaker acquisitions view on EDGAR →
• high

  Resort optimization initiative received all HOA board and member approvals to remove 17 resorts; incurred $31M in H1 FY26 costs (inventory write-downs, impairments, severance) and achieved $40M reduction in developer obligations vs prior year.

  MD&A: Resort optimization verify on EDGAR →
• high

  Issued $900M 6.25% secured notes due 2031 to refinance $650M 6.625% notes due July 2026, reducing interest rate by 40 basis points and extending maturity five years; closed $625M term securitizations at 5.11%-5.52% coupons with 98% advance rates.

  MD&A: Corporate debt and securitizations verify on EDGAR →