The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how consumer discretionary - travel and vacation providers stocks fared in Q4, starting with Travel + Leisure (NYSE: TNL).

The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Travel and vacation providers operate tour packages, cruise lines, online travel agencies, and vacation rental platforms, connecting consumers with leisure and business travel experiences. Tailwinds include robust post-pandemic travel demand, a consumer preference shift toward experiences over goods, and technology-enabled personalization improving conversion and loyalty. However, headwinds are significant: the industry is acutely sensitive to macroeconomic cycles, geopolitical instability, and fuel price volatility. Low switching costs mean fierce price competition, while capacity additions in segments like cruises can lead to oversupply. Regulatory burdens, weather disruptions, and public health risks further create episodic but potentially severe demand shocks.

The 19 consumer discretionary - travel and vacation providers stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.7% while next quarter’s revenue guidance was in line.

While some consumer discretionary - travel and vacation providers stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.4% since the latest earnings results.

Travel + Leisure (NYSE: TNL)

Formerly known as Wyndham Destinations, Travel + Leisure (NYSE: TNL) is a global vacation company that provides travelers with vacation ownership, exchange, and travel services.

Travel + Leisure reported revenues of $1.03 billion, up 5.7% year on year. This print exceeded analysts’ expectations by 3%. Overall, it was a strong quarter for the company with EBITDA guidance for next quarter beating analysts’ expectations and a decent beat of analysts’ revenue estimates.

President and Chief Executive Officer Michael D. Brown commented, “Travel + Leisure Co.’s 2025 results demonstrate the consistency and resilience of our performance, led by sustained momentum in our core Vacation Ownership business. We exceeded our full-year outlook, delivering solid revenue growth, margin expansion and meaningful returns for our shareholders. As we begin 2026, leisure travel demand remains strong, reinforcing our confidence in the durability of our business. "

Unsurprisingly, the stock is down 3.3% since reporting and currently trades at $70.46.

Is now the time to buy Travel + Leisure? Access our full analysis of the earnings results here, it’s free.

Best Q4: Viking (NYSE: VIK)

From a single river cruise offering to a fleet of 96 vessels across multiple continents, Viking (NYSE: VIK) operates a fleet of small luxury cruise ships offering river, ocean, and expedition voyages focused on cultural enrichment and destination immersion.

Viking reported revenues of $1.72 billion, up 27.8% year on year, outperforming analysts’ expectations by 6.6%. The business had an exceptional quarter with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

Viking pulled off the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.7% since reporting. It currently trades at $72.05.

Is now the time to buy Viking? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Hilton Grand Vacations (NYSE: HGV)

Spun off from Hilton Worldwide in 2017, Hilton Grand Vacations (NYSE: HGV) is a global timeshare company that provides travel experiences for its customers through its timeshare resorts and club membership programs.

Hilton Grand Vacations reported revenues of $1.33 billion, up 3.8% year on year, falling short of analysts’ expectations by 2.9%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates.

As expected, the stock is down 13.7% since the results and currently trades at $41.94.

Read our full analysis of Hilton Grand Vacations’s results here.

Norwegian Cruise Line (NYSE: NCLH)

With amenities like a full go-kart race track built into its ships, Norwegian Cruise Line (NYSE: NCLH) is a premier global cruise company.

Norwegian Cruise Line reported revenues of $2.24 billion, up 6.4% year on year. This result missed analysts’ expectations by 4.2%. It was a slower quarter as it also logged a significant miss of analysts’ revenue estimates and a miss of analysts’ adjusted operating income estimates.

Norwegian Cruise Line had the weakest performance against analyst estimates among its peers. The stock is down 18.2% since reporting and currently trades at $20.28.

Read our full, actionable report on Norwegian Cruise Line here, it’s free.

Wyndham (NYSE: WH)

Established in 1981, Wyndham (NYSE: WH) is a global hotel franchising company with over 9,000 hotels across nearly 95 countries on six continents.

Wyndham reported revenues of $334 million, down 2.1% year on year. This print came in 0.6% below analysts' expectations. Overall, it was a slower quarter as it also produced a significant miss of analysts’ adjusted operating income estimates and full-year EBITDA guidance missing analysts’ expectations.

Wyndham had the slowest revenue growth among its peers. The stock is down 2.7% since reporting and currently trades at $78.06.

Read our full, actionable report on Wyndham here, it’s free.

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