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Timeshare Receivables Financing — Subsequent to the end of the primary quarter, the Company closed on a $250 million term securitization transaction with a weighted average coupon of 6.3% and a 91.3% advance rate. Travel and Membership income of $200 million within the first quarter of 2023 was flat in comparability with the same interval within the prior yr, as income per transaction growth of 2% was offset by a 2% lower in transactions. The transaction lower was impacted by a 2% decrease in average variety of Exchange members. First quarter adjusted EBITDA was $131 million compared to $105 million within the prior 12 months period. The improve was pushed by greater Gross VOI sales, partially offset by higher provision for loan losses as a end result of a rise in financed gross sales. “We reported a powerful quarter which saw 9% year-over-year progress of web income and a 29% year-over-year progress of adjusted EPS, enabling us to beat our expectations,” said Michael D. Brown, president and CEO of Travel + Leisure Co.

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