Travel + Leisure expands into wine

Article Excerpt

TRAVEL + LEISURE CO., $55.79, is a buy. The company (New York symbol TNL; TSINetwork Rating: Extra Risk) (www.travelandleisureco.com; Shares o/s: 85.5 million; Market cap: $4.7 billion; Dividend yield: 2.9%) is now the world’s largest vacation-ownership and exchange company. It operates 245 timeshare resorts with 880,000 owners. Travel + Leisure recently announced the launch of travelandleisurewine.com. The site offers multiple-vineyard club memberships as well as an online bottle shop in partnership with Vintage Wine Estates Inc. The website also provides access to the highly curated experiences that come with a wine club membership; they include in-person VIP tastings at wineries or virtually, and the annual harvest celebration events at Vintage Wine Estates’ 12 wineries. They’re spread across California, Oregon and Washington. Vintage Wine Estates is also overseeing the management, fulfillment and customer support services for Travel + Leisure Wine. Meanwhile, now that travel volumes are rising as more countries relax their COVID-19 restrictions, Travel + Leisure has increased its quarterly dividend by 14.3% with the March 31, 2022,…