Adjusted diluted EPS was $1.33, up 11% on a comparable basis, driven by EBITDA growth, share repurchases, and lower depreciation.
Adjusted EBITDA was $195 million, growing 5% on a comparable basis, partially offset by higher operating expenses.
Adjusted free cash flow was $88 million in Q2 and $168 million year-to-date, with a conversion rate of approximately 50%.
Ancillary fee streams increased nearly 20%, with continued expansion in U.S. and international royalty rates.
Comparable adjusted EBITDA grew by 5% and EPS increased by 11% despite a challenging RevPAR environment.
Net leverage ratio was 3.5x at quarter end, with $580 million in total liquidity.
Returned $109 million to shareholders in Q2 through $77 million in share repurchases and $32 million in dividends.
Second quarter fee-related and other revenues were $397 million, up $31 million year-over-year, driven by higher royalties, franchise fees, and ancillary fees.
Wyndham reported global system growth of 4% and sequential net room growth across every region.
Contract sales were down less than 1% for the quarter, with first-time buyer sales up 6% year-over-year and owner sales down 4% due to lower VPGs.
Development profit more than doubled year-over-year due to a prior year sales reserve adjustment, though excluding that, development profit declined 11%.
Leverage ended at 3.9x with $800 million in liquidity; $1 billion of inventory on the balance sheet with $310 million of inventory commitments over the next few years.
Loan delinquencies declined 110 basis points year-over-year to the lowest levels in two years, with a sales reserve of 13% of contract sales in the quarter.
Management and exchange profit increased 3% to $98 million, and financing profit increased 7% to $53 million.
Marriott Vacations Worldwide delivered $203 million in adjusted EBITDA in Q2 2025, a 29% increase with margins improving 360 basis points compared to last year.
Total company rental profit declined 16% to $35 million, driven by increased unsold maintenance fees and marketing expenses, partially offset by higher ADRs.
Dafinchi
