Executive Overview
July 2022
As we pass the two-year mark of the global COVID-19 pandemic, I’m pleased to see travel and vacations continue to rebound. With the increase in tourism comes a need to act responsibly.
Through our Full Circle environmental, social, and governance (ESG) program, Travel + Leisure Co. aims to do just that. I’d like to share a few examples of our recent ESG progress, but I encourage you to read our full report. Grounded in our own Green Certification program, we continue to enact efficiency projects and explore renewable energy consumption at our resorts. In 2021, we entered into an offsite community solar agreement in Portland, Oregon, and readied two resorts for solar array installations. As we close in on our 2025 greenhouse gas emissions (Scope 1 and Scope 2) reduction target, we are considering science-based targets to support an urgent transition to a low carbon economy.
As the world returns to traveling, our need to attract and retain great talent is more important than ever. We offered incentives to retain associates for the busy summer season at key resort locations, and increased our referral payouts. We continue to lead the industry when it comes to our healthcare, mental health, and wellbeing benefits. In 2021, we conducted a pay equity study and found no significant differences in pay between males and females in comparable positions. We remain steadfast in our commitment to inclusion and diversity, launching the Traveler’s Pledge in May 2021. The pledge is a Code of Conduct for our owners, members, and guests that helps our teams provide great vacation experiences in a safe, inclusive, and welcoming environment. We also renamed some of our resorts to be more inclusive. Adhering to COVID-19 safety protocols remains top of mind. We established a global We’ll Be Ready return-to-work plan and incentivized associates to get vaccinated.
In the summer of 2021, we launched the Travel + Leisure Charitable Foundation and initiated the Travel + Leisure Eatonville Scholarship Program in partnership with the School Board of Orange County, Florida. Through corporate, in-kind, and associate workplace giving, we donated more than $1.1 million to our communities in 2021. We welcomed Lucinda C. Martinez to our Board of Directors, growing our Board’s diversity and experience. We continue to foster a strong culture where we emphasize the importance of ethics and integrity, human rights, and cybersecurity – and require the same of our suppliers.
Because of our ESG progress, Travel + Leisure Co. has been named one of Newsweek’s America’s Most Responsible Companies (for a second consecutive year), DiversityInc’s Most Noteworthy Companies, and Forbes Magazine’s America’s Best Large Employers, among others. This recognition would not be possible without the support of 16,800+ associates, our guests, members and owners, suppliers, and many other stakeholders. Thank you - and we look forward to continuing to put the world on vacation in the year ahead.
Michael D. Brown
PRESIDENT & CHIEF EXECUTIVE OFFICER
