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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 83 $ 16
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 142 126
Amortization of deferred financing costs, acquisition premiums and other 31 37
Provision for loan losses 211 180
Loss on sale and impairment 48 1
Other loss (gain), net 1 (10)
Share-based compensation 36 35
Deferred income tax expense 0 6
Equity in earnings from unconsolidated affiliates (7) (11)
Return on investment in unconsolidated affiliates 7 5
Net changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (28) (123)
Timeshare financing receivables, net (302) (224)
Inventory (17) (63)
Purchases and development of real estate for future conversion to inventory (29) (61)
Other assets (249) (222)
Accounts payable, accrued expenses and other 109 99
Advanced deposits (1) 9
Deferred revenue 227 299
Net cash provided by operating activities 262 99
Investing Activities    
Acquisitions, net of cash, cash equivalents and restricted cash acquired (100) 0
Capital expenditures for property and equipment (excluding inventory) (9) (29)
Software capitalization costs (32) (37)
Net cash used in investing activities (141) (66)
Financing Activities    
Proceeds from debt 1,285 1,427
Proceeds from non-recourse debt 1,469 1,690
Repayment of debt (968) (1,507)
Repayment of non-recourse debt (1,594) (1,511)
Payment of debt issuance costs (13) (13)
Repurchase and retirement of common stock (300) (300)
Payment of withholding taxes on vesting of restricted stock units (18) (8)
Proceeds from employee stock plan purchases 8 8
Proceeds from stock option exercises 19 2
Other (3) (1)
Net cash used in financing activities (115) (213)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (9) 6
Net decrease in cash, cash equivalents and restricted cash (3) (174)
Cash, cash equivalents and restricted cash, beginning of period 571 766
Cash, cash equivalents and restricted cash, end of period 568 592
Less: Restricted cash 296 323
Cash and cash equivalents $ 272 $ 269