REVENUE AND RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]


	Three Months Ended June 30, 2026
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Sale of vacation ownership products	$	430	$	—	$	—	$	430

Ancillary revenues	74		1		—		75
Management fee revenues	56		2		—		58
Exchange and other services revenues	36		39		17		92
Management and exchange	166		42		17		225

Rental	165		8		—		173

Cost reimbursements	407		4		(11)		400
Revenue from contracts with customers	1,168		54		6		1,228

Financing	92		—		—		92
Total Revenues	$	1,260	$	54	$	6	$	1,320


	Three Months Ended June 30, 2025
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Sale of vacation ownership products	$	370	$	—	$	—	$	370

Ancillary revenues	75		1		—		76
Management fee revenues	55		1		—		56
Exchange and other services revenues	35		39		13		87
Management and exchange	165		41		13		219

Rental	150		10		—		160

Cost reimbursements	413		2		(8)		407
Revenue from contracts with customers	1,098		53		5		1,156

Financing	90		—		—		90
Total Revenues	$	1,188	$	53	$	5	$	1,246


	Six Months Ended June 30, 2026
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Sale of vacation ownership products	$	773	$	—	$	—	$	773

Ancillary revenues	139		2		—		141
Management fee revenues	112		4		(1)		115
Exchange and other services revenues	71		80		34		185
Management and exchange	322		86		33		441

Rental	332		17		—		349

Cost reimbursements	842		8		(20)		830
Revenue from contracts with customers	2,269		111		13		2,393

Financing	184		—		—		184
Total Revenues	$	2,453	$	111	$	13	$	2,577


	Six Months Ended June 30, 2025
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Sale of vacation ownership products	$	725	$	—	$	—	$	725

Ancillary revenues	140		2		—		142
Management fee revenues	110		4		(1)		113
Exchange and other services revenues	70		81		28		179
Management and exchange	320		87		27		434

Rental	309		20		—		329

Cost reimbursements	791		4		(15)		780
Revenue from contracts with customers	2,145		111		12		2,268

Financing	178		—		—		178
Total Revenues	$	2,323	$	111	$	12	$	2,446

Schedule of Revenue Remaining Performance Obligation

The following tables detail the timing of revenue from contracts with customers by segment for the time periods presented.


	Three Months Ended June 30, 2026
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Services transferred over time	$	658	$	22	$	6	$	686
Goods or services transferred at a point in time	510		32		—		542
Revenue from contracts with customers	$	1,168	$	54	$	6	$	1,228


	Three Months Ended June 30, 2025
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Services transferred over time	$	649	$	20	$	5	$	674
Goods or services transferred at a point in time	449		33		—		482
Revenue from contracts with customers	$	1,098	$	53	$	5	$	1,156


	Six Months Ended June 30, 2026
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Services transferred over time	$	1,345	$	44	$	13	$	1,402
Goods or services transferred at a point in time	924		67		—		991
Revenue from contracts with customers	$	2,269	$	111	$	13	$	2,393


	Six Months Ended June 30, 2025
($ in millions)	Vacation Ownership		Exchange & Third-Party Management		Corporate and Other		Total
Services transferred over time	$	1,268	$	41	$	12	$	1,321
Goods or services transferred at a point in time	877		70		—		947
Revenue from contracts with customers	$	2,145	$	111	$	12	$	2,268

Schedule of Contract with Customer, Asset and Liability

The following table shows the composition of our receivables from contracts with customers and contract liabilities. We had no contract assets at either June 30, 2026 or December 31, 2025.


($ in millions)	At June 30, 2026		At December 31, 2025
Receivables from Contracts with Customers
Accounts and contracts receivable, net	$	290	$	271
Vacation ownership notes receivable, net	2,587		2,565
	$	2,877	$	2,836
Contract Liabilities(1)
Advance deposits	$	166	$	163
Deferred revenue and other	416		371
	$	582	$	534

(1)Includes $105 million and $99 million of other refundable deposits at June 30, 2026 and December 31, 2025, respectively.

Schedule of Accounts and Nontrade Receivable

The following table shows the composition of our accounts and contracts receivable balances:


($ in millions)	At June 30, 2026		At December 31, 2025
Receivables from contracts with customers, net	$	290	$	271
Interest receivable	20		20
Tax receivable	64		77
Indemnification assets	35		40
Employee tax credit receivable	1		4
Other	18		16
	$	428	$	428