Michael Brown, CEO of Travel and Leisure Co., topped the list of compensation among timeshare company CEOs in 2023, earning $8.4 million in total compensation. His company, the world’s largest timeshare operator, reported the highest revenue and net income among its peers last year. In comparison, Mark Wang, CEO of Hilton Grand Vacations, received around $6.7 million in take-home pay, while John Geller Jr., CEO of Marriott Vacations, collected approximately $1.1 million.
Brown’s base salary for 2023 was around $1.3 million, with the majority of his total compensation being variable and contingent on the company meeting performance targets. A significant portion of Geller’s compensation at Marriott Vacations was tied to his company’s stock performance, which saw a 38% drop in stock price between the start and end of last year. Geller had previously enjoyed higher take-home pay, such as in 2021 when he earned around $17.4 million after the company’s stock soared.
Overall, Travel and Leisure Co. had a strong financial performance in 2023, generating $396 million in net income, the highest among its peers. The company’s success was attributed to brands like Wyndham Destinations and Margaritaville Vacation Club in its portfolio. In contrast, Marriott Vacations faced challenges such as worse-than-expected contract sales and reduced occupancy at some Hawaiian properties due to wildfires in Maui. These challenges impacted Geller’s compensation and the company’s stock performance.
The accommodations sector stock index performance year-to-date showed the performance of hotels and short-term rental sector stocks within the ST200. The index includes publicly traded companies across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number, providing insight into the overall financial health of the travel industry.
In summary, Michael Brown’s high total compensation in 2023 reflects the success of Travel and Leisure Co. as the world’s largest timeshare operator. The company’s strong financial performance, driven by brands like Wyndham Destinations and Margaritaville Vacation Club, contributed to Brown’s earnings. In contrast, challenges faced by Marriott Vacations, including reduced occupancy and stock price performance, impacted CEO John Geller Jr.’s compensation. The accommodations sector stock index performance year-to-date offers a broader view of the financial health of the travel industry, including hotels, short-term rentals, and timeshare companies within the ST200.
