Skift Take
It's not wholly surprising that Michael Brown, CEO of Travel and Leisure Co., topped the list of compensation among the top bosses of timeshare operators. His company led its peers in revenue and net income last year.
Key Points
- Michael Brown of Travel and Leisure Co. earned $8.4 million in 2023, the highest among timeshare CEOs.
- Travel and Leisure Co. generated $396 million in net income, the highest in its industry.
- John Geller Jr.'s compensation was impacted by a 38% drop in Marriott Vacations' stock price and other operational challenges.
Summary
Michael Brown, CEO of Travel and Leisure Co., was the highest-paid timeshare CEO in 2023, earning $8.4 million in total compensation. Travel and Leisure Co. is the world's largest timeshare operator, generating $396 million in net income. Mark Wang of Hilton Grand Vacations and John Geller Jr. of Marriott Vacations were the second and third highest-paid CEOs, earning $6.7 million and $1.1 million respectively. Geller's compensation was affected by a 38% drop in Marriott Vacations' stock price and other challenges such as reduced occupancy after wildfires in Maui.
Michael Brown, CEO of Travel and Leisure Co., made $8.4 million in total compensation in 2023. That was the highest take-home pay among timeshare company CEOs, according to proxy statements filed last week.
Travel and Leisure Co. is the world’s largest timeshare operator, with brands like Wyndham Destinations and Margaritaville Vacation Club in its portfolio. Last year, it generated $396 million in net income — the highest of its peers.
Mark Wang, the CEO of Hilton Grand Vacations, received around $6.7 million in take-home pay in 2023 — the second-highest amount. The company produced $313 million in net income.
John Geller Jr., CEO of Marriott Vacations, collected around $1.1 million in take-home pay in 2023. The company generated the third-largest net income: $253 million.
Brown, from Travel and Leisure, received a 2023 base salary of around $1.3 million. However, 90% of his total compensation was variable, including a mix of incentives and awards generally contingent on the company meeting performance targets, such as for adjusted EBITDA.
Travel and Leisure’s filing noted that the $8.4 million was the compensation Brown actually received in 2023, reflecting the paper gains and losses of equity awards the company has awarded him during the three most recent years.
For Geller at Marriott Vacations, about 63% of compensation was tied to his company’s stock performance. Between the start and end of last year, the company saw its stock price drop by 38%.
The company faced a mix of headwinds, including worse-than-expected contract sales and reduced occupancy at some Hawaiian properties after wildfires in Maui.
In some prior years, Geller has enjoyed higher take-home pay. In 2021, he took home around $17.4 million after the company’s stock soared on a post-pandemic boom.
Accommodations Sector Stock Index Performance Year-to-Date
What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded 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. See more hotels and short-term rental financial sector performance.
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Tags: ceo pay, future of lodging, hilton grand vacations, marriott vacations, timeshares
Photo credit: Exterior of Club Wyndham Ocean Boulevard in Myrtle Beach, South Carolina. Source: Travel and Leisure Co.