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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities    
Net income $ 380 $ 46
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 212 193
Amortization of deferred financing costs, acquisition premiums and other 52 57
Provision for loan losses 296 311
Loss on sale and impairment, net 41 2
Other loss (gain), net 2 (7)
Share-based compensation 56 54
Deferred income tax expense 0 6
Equity in earnings from unconsolidated affiliates (8) (17)
Return on investment in unconsolidated affiliates 8 10
Net changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net 28 (117)
Timeshare financing receivables (497) (471)
Inventory 154 (85)
Purchases and development of real estate for future conversion to inventory (45) (73)
Other assets 17 (102)
Accounts payable, accrued expenses and other 31 (61)
Advanced deposits (5) 3
Deferred revenue (373) 384
Net cash provided by operating activities 349 133
Investing Activities    
Acquisitions, net of cash, cash equivalents and restricted cash acquired (103) 0
Capital expenditures for property and equipment (excluding inventory) (23) (50)
Software capitalization costs (53) (54)
Net cash used in investing activities (179) (104)
Financing Activities    
Proceeds from debt 1,713 2,237
Proceeds from non-recourse debt 2,044 2,755
Repayment of debt (1,374) (2,181)
Repayment of non-recourse debt (2,183) (2,598)
Payment of debt issuance costs (32) (21)
Repurchase and retirement of common stock (410) (450)
Payment of withholding taxes on vesting of restricted stock units (18) (9)
Proceeds from employee stock plan purchases 8 8
Proceeds from stock option exercises 19 11
Other (4) (4)
Net cash used in financing activities (237) (252)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (2) 0
Net decrease in cash, cash equivalents and restricted cash (69) (223)
Cash, cash equivalents and restricted cash, beginning of period 571 766
Cash, cash equivalents and restricted cash, end of period 502 543
Less: Restricted cash 275 328
Cash and cash equivalents $ 227 $ 215