Highest Paid Timeshare CEOs in 2023
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.
Hilton, Travel and Leisure, and Marriott Timeshares: 2024 State of Play
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