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Travel + Leisure Co. (TNL) announced fourth quarter results that beat Wall Street's expectations on the top and bottom lines. The company's CEO and president, Mike Brown, joins Market Domination Overtime to discuss Travel + Leisure's results, the health of the consumer, and the impact of inflation.
"What we saw in the fourth quarter was an acceleration in the final two months of the year," Brown says. "Real close after the election, there just seemed to be ... elimination of uncertainty or just a change in the overall confidence. It really propelled us to a very strong fourth quarter where we beat expectations."
He notes that the earnings report indicates the consumer remains strong. "We've continued that success in the first half of Q1, and ultimately, we get a daily check on how consumers are thinking about vacations ... and that there doesn't seem to be any cracks in the consumer confidence from our standpoint."
Looking at other macro factors, the CEO says that inflation "has actually been a big propellant for us in the last three to four years because seven out of eight of our consumers have fully paid for their ownership, which means they're vacationing with dollars that they spent three years ago, five years ago, and ten years ago."
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This post was written by Naomi Buchanan.