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3Q 2021 Results THREE MONTHS ENDED 09/30/21 $ Net Revenue $ 839M Gross VOI Sales G ↑ $ 440M $ TRAVEL + LEISURE Adj . EBITDA Margin 27.2 % YTD Adj . FCF $ 128M Adj . EBITDA $ 228M For full financial data and non - GAAP reconciliation , please see the Company's 3Q'21 earnings release at : investor.travelandleisureco.com . HIGHLIGHTS + Hosted 2021 Investor Day and presented four - year plan to accelerate growth + Launched members - only subscription travel club , Travel + Leisure Club + Released 2020-2021 Social + Responsibility report , highlighting key objectives , milestones and impact Renewed revolving credit facility in October , eliminating relief period restrictions regarding share repurchases and acquisitions