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Gaming & Lodging

Travel & Leisure Executive Compensation (FY25)

TNL · Orlando, FL · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
286 figures on this page: 278 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
Total compensation for Michael Brown, President and Chief Executive Officer, came to $16,000,693 in fiscal 2025, and Brown's total moved 9.1% higher from the $14,659,501 reported for fiscal 2024. Separately, the disclosed chief executive pay ratio for fiscal 2025 is 279:1, against median employee compensation of $57,430. Meanwhile, shareholders supported the say-on-pay proposal with 92.7% of votes cast including abstentions in favor at the meeting held May 20, 2026 for fiscal 2025. The disclosed peer group includes Alaska Air Group, Inc., Bloomin' Brands, Inc., Boyd Gaming Corporation, Caesars Entertainment, Inc. and Chipotle Mexican Grill, Inc., among others.
Chief executive, fiscal 2025
◇
Michael Brown
Median of the other named officers
$4,819,214
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 20, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Michael Brown: $14,659,501 → $16,000,693 (9.1% higher)
CEO pay ratio: 308:1 → 279:1 (9.4% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Travel & Leisure's chief executive and what were they paid?
Total compensation for Michael Brown, President and Chief Executive Officer, came to $16,000,693 in fiscal 2025. Brown's total moved 9.1% higher from the $14,659,501 reported for fiscal 2024.
What was Travel & Leisure's say-on-pay result?
Shareholders supported the say-on-pay proposal with 92.7% of votes cast including abstentions in favor at the meeting held May 20, 2026 for fiscal 2025.
Which companies are in Travel & Leisure's peer group?
The disclosed peer group includes Alaska Air Group, Inc., Bloomin' Brands, Inc., Boyd Gaming Corporation, Caesars Entertainment, Inc. and Chipotle Mexican Grill, Inc., among others.
What is Travel & Leisure's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 279:1, against median employee compensation of $57,430.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Brown
President and Chief Executive Officer
◇—◇—◇—◇◇
Jeffrey Myers
Chief Sales and Marketing Officer - Vacation Ownership
◇—◇—◇—◇◇
Michael Hug
Chief Financial Officer
◇—◇—◇—◇◇
Geoffrey Richards
Chief Operating Officer - Vacation Ownership
◇—◇—◇—◇◇
James Savina
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Brown
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Hug
Chief Financial Officer
◇◇◇—◇—◇◇
Jeffrey Myers
Chief Sales and Marketing Officer - Vacation Ownership
◇◇◇—◇—◇◇
Geoffrey Richards
Chief Operating Officer - Vacation Ownership
◇◇◇—◇—◇◇
James Savina
General Counsel and Corporate Secretary
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Brown
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Hug
Chief Financial Officer
◇—◇—◇—◇◇
Jeffrey Myers
Chief Sales and Marketing Officer - Vacation Ownership
◇—◇—◇—◇◇
Geoffrey Richards
Chief Operating Officer - Vacation Ownership
◇—◇—◇—◇◇
James Savina
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Brown
President and Chief Executive Officer
◇—◇—◇—◇◇
Erik Hoag
Chief Financial Officer
◇—◇—◇—◇◇
Jeffrey Myers
Chief Sales and Marketing Officer - Vacation Ownership
◇—◇—◇—◇◇
Geoffrey Richards
Chief Operating Officer - Vacation Ownership
◇—◇—◇—◇◇
James Savina
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Michael Hug
Former Chief Financial Officer
Departed during or after this year
◇—————◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Erik HoagRSU◇——◇——◇
Erik HoagPSU◇◇◇—◇—◇
Geoffrey RichardsRSU◇——◇——◇
Geoffrey RichardsPSU◇◇◇—◇—◇
James SavinaPSU◇◇◇—◇—◇
James SavinaRSU◇——◇——◇
Jeffrey MyersRSU◇——◇——◇
Jeffrey MyersPSU◇◇◇—◇—◇
Michael BrownPSU◇◇◇—◇—◇
Michael BrownRSU◇——◇——◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Geoffrey RichardsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James SavinaRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Jeffrey MyersRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Erik HoagRSU◇◇——
RSU◇◇——
Michael BrownRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Michael HugRSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
James E. Buckman
Lead independent director
◇◇———◇◇
Stephen P. Holmes
Board chair
◇◇———◇◇
Louise F. Brady
—◇———◇◇
Michael H. Wargotz
◇◇———◇◇
Denny Marie Post
◇◇———◇◇
George Herrera
◇◇———◇◇
Ronald L. Rickles
◇◇———◇◇
Lucinda C. Martinez
◇◇———◇◇
Michael D. Brown served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Alaska Air Group, Inc. ALK
  • Bloomin' Brands, Inc. BLMN
  • Boyd Gaming Corporation BYD
  • Caesars Entertainment, Inc. CZR
  • Chipotle Mexican Grill, Inc. CMG
  • Darden Restaurants, Inc. DRI
  • Hilton Grand Vacations, Inc. HGV
  • Hilton Worldwide Holdings, Inc. HLT
  • Host Hotels & Resorts, Inc. HST
  • Hyatt Hotels Corporation H
  • JetBlue Airways Corporation JBLU
  • Las Vegas Sands Corp. LVS
  • Marriott International, Inc. MAR
  • PENN Entertainment, Inc. PENN
  • Sabre Corporation SABR
  • Six Flags Entertainment Corporation FUN
  • Vail Resorts, Inc. MTN
  • Wyndham Hotels & Resorts, Inc. WH

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 20, 2026=◇◇◇
2024May 21, 2025=◇◇◇
2023May 15, 2024=◇◇◇
2022May 17, 2023=◇◇◇
2021May 18, 2022=◇◇◇
2020May 13, 2021=◇◇◇
2019May 14, 2020=◇◇◇
2018May 16, 2019=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Travel & Leisure disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Travel & Leisure sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
286 figures on this page: 278 cited to the filing that reported them, 8 calculated from figures it prints.
278 cited to the filing
8 calculated from the filing

Documents cited

  1. 0001361658-26-000038
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001361658-26-000019
    2025 Director Compensation Table · 2025 Grants of Plan-Based Awards Table · 2025 Summary Compensation Table · CEO Pay Ratio · and 3 more sections
  3. 0001361658-25-000217
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001361658-25-000178
    2024 Summary Compensation Table
  5. 0001361658-24-000129
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001361658-24-000109
    2023 Summary Compensation Table
  7. 0001361658-23-000165
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001361658-23-000120
    2022 Summary Compensation Table
  9. 0001361658-22-000160
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001361658-21-000165
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001361658-20-000138
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001361658-19-000088
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Travel & Leisure executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/TNL (accessed 2026).
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Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers Travel & Leisure discloses

The companies named in TNL's own disclosed peer group.

Boyd Gaming CorporationCaesars Entertainment, Inc.Hilton Worldwide Holdings, Inc.Host Hotels & Resorts, Inc.Hyatt Hotels CorporationLas Vegas Sands Corp.Marriott International, Inc.PENN Entertainment, Inc.Sabre CorporationSix Flags Entertainment CorporationVail Resorts, Inc.Wyndham Hotels & Resorts, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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