Travel + Leisure Co. (TNL) reported third quarter 2024 results that showed continued solid demand for its vacation ownership products and services. The key highlights were:

The company's net income was $97 million, or $1.39 per diluted share, compared to $110 million, or $1.49 per diluted share in the prior year quarter. Adjusted EBITDA was $242 million, down 2% year-over-year but within its guidance range.

Revenue from the Vacation Ownership segment increased 2% year-over-year to $825 million. This was driven by a 5% increase in net vacation ownership interest (VOI) sales to $455 million, despite higher loan loss provisions.

Volume Per Guest (VPG), an important metric for vacation ownership sales efficiency, remained above $3,000 at $3,012. This was achieved on a 4% increase in tours year-over-year, with new owner tours up 9%.

The company reiterated its full-year 2024 adjusted EBITDA guidance of $915 million to $935 million. It expects fourth quarter adjusted EBITDA between $240 million and $260 million.

Travel + Leisure returned $105 million to shareholders through $35 million in dividends and $70 million in share repurchases during the quarter.