Travel & Leisure annual operating expenses
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Travel & Leisure Operating Expenses Growth & History (TNL)
Travel & Leisure's operating expenses was $3.47B for fiscal 2025.
View full Travel & Leisure company overviewTravel & Leisure annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $3.47B | $337.0M | +10.76% |
| 2024 | 2024-12-31 | $3.13B | $103.0M | +3.40% |
| 2023 | 2023-12-31 | $3.03B | $114.0M | +3.91% |
| 2022 | 2022-12-31 | $2.91B | $398.0M | +15.82% |
| 2021 | 2021-12-31 | $2.52B | $251.0M | +11.08% |
| 2020 | 2020-12-31 | $2.27B | $617.0M | +37.44% |
| 2019 | 2019-12-31 | $1.65B | −$1.76B | −51.64% |
| 2018 | 2018-12-31 | $3.41B | $41.0M | +1.22% |
| 2017 | 2017-12-31 | $3.37B | $333.0M | +10.98% |
| 2016 | 2016-12-31 | $3.03B | −$909.0M | −23.05% |
| 2015 | 2015-12-31 | $3.94B | −$397.0M | −9.15% |
| 2014 | 2014-12-31 | $4.34B | $241.0M | +5.88% |
| 2013 | 2013-12-31 | $4.10B | $417.0M | +11.33% |
| 2012 | 2012-12-31 | $3.68B | $195.0M | +5.59% |
| 2011 | 2011-12-31 | $3.49B | $354.0M | +11.30% |
| 2010 | 2010-12-31 | $3.13B | −$23.0M | −0.73% |
| 2009 | 2009-12-31 | $3.16B | −$1.96B | −38.25% |
| 2008 | 2008-12-31 | $5.11B | — | — |
Travel & Leisure quarterly operating expenses
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Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $853.0M | $41.0M | +5.05% |
| Q1 2026 | 2026-03-31 | $802.0M | $24.0M | +3.08% |
| Q4 2025 | 2025-12-31 | $1.05B | $283.0M | +36.99% |
| Q3 2025 | 2025-09-30 | $830.0M | $26.0M | +3.23% |
| Q2 2025 | 2025-06-30 | $812.0M | $16.0M | +2.01% |
| Q1 2025 | 2025-03-31 | $778.0M | $12.0M | +1.57% |
| Q4 2024 | 2024-12-31 | $765.0M | $21.0M | +2.82% |
| Q3 2024 | 2024-09-30 | $804.0M | $25.0M | +3.21% |
| Q2 2024 | 2024-06-30 | $796.0M | $30.0M | +3.92% |
| Q1 2024 | 2024-03-31 | $766.0M | $27.0M | +3.65% |
| Q4 2023 | 2023-12-31 | $744.0M | $7.0M | +0.95% |
| Q3 2023 | 2023-09-30 | $779.0M | $31.0M | +4.14% |
| Q2 2023 | 2023-06-30 | $766.0M | $29.0M | +3.93% |
| Q1 2023 | 2023-03-31 | $739.0M | $47.0M | +6.79% |
| Q4 2022 | 2022-12-31 | $737.0M | $61.0M | +9.02% |
| Q3 2022 | 2022-09-30 | $748.0M | $95.0M | +14.55% |
| Q2 2022 | 2022-06-30 | $737.0M | $91.0M | +14.09% |
| Q1 2022 | 2022-03-31 | $692.0M | $151.0M | +27.91% |
| Q4 2021 | 2021-12-31 | $676.0M | $116.0M | +20.71% |
| Q3 2021 | 2021-09-30 | $653.0M | $103.0M | +18.73% |
| Q2 2021 | 2021-06-30 | $646.0M | $189.0M | +41.36% |
| Q1 2021 | 2021-03-31 | $541.0M | −$158.0M | −22.60% |
| Q4 2020 | 2020-12-31 | $560.0M | −$116.0M | −17.16% |
| Q3 2020 | 2020-09-30 | $550.0M | −$341.0M | −38.27% |
| Q2 2020 | 2020-06-30 | $457.0M | −$384.0M | −45.66% |
| Q1 2020 | 2020-03-31 | $699.0M | −$79.0M | −10.15% |
| Q4 2019 | 2019-12-31 | $676.0M | −$121.0M | −15.18% |
| Q3 2019 | 2019-09-30 | $891.0M | $26.0M | +3.01% |
| Q2 2019 | 2019-06-30 | $841.0M | −$101.0M | −10.72% |
| Q1 2019 | 2019-03-31 | $778.0M | −$26.0M | −3.23% |
| Q4 2018 | 2018-12-31 | $797.0M | −$42.0M | −5.01% |
| Q3 2018 | 2018-09-30 | $865.0M | $34.0M | +4.09% |
| Q2 2018 | 2018-06-30 | $942.0M | $9.0M | +0.96% |
| Q1 2018 | 2018-03-31 | $804.0M | $41.0M | +5.37% |
| Q4 2017 | 2017-12-31 | $839.0M | −$281.0M | −25.09% |
| Q3 2017 | 2017-09-30 | $831.0M | $152.0M | +22.39% |
| Q2 2017 | 2017-06-30 | $933.0M | $311.0M | +50.00% |
| Q1 2017 | 2017-03-31 | $763.0M | $150.0M | +24.47% |
| Q4 2016 | 2016-12-31 | $1.12B | $594.0M | +112.93% |
| Q3 2016 | 2016-09-30 | $679.0M | −$565.0M | −45.42% |
| Q2 2016 | 2016-06-30 | $622.0M | −$505.0M | −44.81% |
| Q1 2016 | 2016-03-31 | $613.0M | −$433.0M | −41.40% |
| Q4 2015 | 2015-12-31 | $526.0M | −$552.0M | −51.21% |
| Q3 2015 | 2015-09-30 | $1.24B | $81.0M | +6.96% |
| Q2 2015 | 2015-06-30 | $1.13B | $50.0M | +4.64% |
| Q1 2015 | 2015-03-31 | $1.05B | $24.0M | +2.35% |
| Q4 2014 | 2014-12-31 | $1.08B | $856.0M | +385.59% |
| Q3 2014 | 2014-09-30 | $1.16B | $59.0M | +5.34% |
| Q2 2014 | 2014-06-30 | $1.08B | $65.0M | +6.42% |
| Q1 2014 | 2014-03-31 | $1.02B | $70.0M | +7.35% |
| Q4 2013 | 2013-12-31 | $222.0M | $18.0M | +8.82% |
| Q3 2013 | 2013-09-30 | $1.10B | $127.0M | +13.00% |
| Q2 2013 | 2013-06-30 | $1.01B | $104.0M | +11.45% |
| Q1 2013 | 2013-03-31 | $952.0M | $94.0M | +10.96% |
| Q4 2012 | 2012-12-31 | $204.0M | $56.0M | +37.84% |
| Q3 2012 | 2012-09-30 | $977.0M | $49.0M | +5.28% |
| Q2 2012 | 2012-06-30 | $908.0M | $48.0M | +5.58% |
| Q1 2012 | 2012-03-31 | $858.0M | $58.0M | +7.25% |
| Q4 2011 | 2011-12-31 | $148.0M | −$35.0M | −19.13% |
| Q3 2011 | 2011-09-30 | $928.0M | $142.0M | +18.07% |
| Q2 2011 | 2011-06-30 | $860.0M | $69.0M | +8.72% |
| Q1 2011 | 2011-03-31 | $800.0M | $44.0M | +5.82% |
| Q4 2010 | 2010-12-31 | $183.0M | — | — |
| Q3 2010 | 2010-09-30 | $786.0M | −$24.0M | −2.96% |
| Q2 2010 | 2010-06-30 | $791.0M | $22.0M | +2.86% |
| Q1 2010 | 2010-03-31 | $756.0M | — | — |
| Q3 2009 | 2009-09-30 | $810.0M | — | — |
| Q2 2009 | 2009-06-30 | $769.0M | — | — |
Travel & Leisure operating expenses trends
Over the last five fiscal years, Travel & Leisure's operating expenses increased from $2.27B to $3.47B, a change of $1.20B. The latest reported quarter, Q2 2026, shows $853.0M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Travel & Leisure source filings ↗