Consolidated Statements of Cash Flows - USD ($)		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Operating Activities
Net (loss) income	[1]	$ (200,709,244)	[2]	$ 215,695,961	[2]	$ 298,124,983
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		45,000,000		44,000,000		33,000,000
Amortization of deferred financing costs, contract costs and other		18,000,000		17,000,000		10,000,000
Provision for financing receivables losses	[3]	75,000,000		74,000,000		69,000,000
Impairment expense		209,000,000
Other (gain) loss, net		(1,000,000)		3,000,000		1,000,000
Share-based compensation		15,000,000		22,000,000		16,000,000
Deferred income tax (benefit) expense		(123,000,000)		3,000,000		20,000,000
Equity in losses (earnings) from unconsolidated affiliates		(5,000,000)		(4,000,000)
Distributions received from unconsolidated affiliates						2,000,000
Net changes in assets and liabilities:
Accounts receivable, net		56,000,000		(20,000,000)		(41,000,000)
Timeshare financing receivables, net		107,000,000		(111,000,000)		(118,000,000)
Inventory		(91,000,000)		(4,000,000)		16,000,000
Purchases and development of real estate for future conversion to inventory		(36,000,000)		(168,000,000)		(299,000,000)
Other assets		(11,000,000)		(18,000,000)		(36,000,000)
Accounts payable, accrued expenses and other		(56,000,000)		(17,000,000)		(24,000,000)
Advanced deposits		2,000,000		14,000,000		14,000,000
Deferred revenues		76,000,000		91,000,000		(126,000,000)
Other				1,000,000		1,000,000
Net cash provided by (used in) operating activities		79,000,000		143,000,000		(164,000,000)
Investing Activities
Capital expenditures for property and equipment		(8,000,000)		(37,000,000)		(44,000,000)
Software capitalization costs		(23,000,000)		(24,000,000)		(14,000,000)
Return of investment from unconsolidated affiliates						11,000,000
Investments in unconsolidated affiliates		(2,000,000)		(2,000,000)		(10,000,000)
Net cash used in investing activities		(33,000,000)		(63,000,000)		(57,000,000)
Financing Activities
Issuance of debt		495,000,000		485,000,000		530,000,000
Issuance of non-recourse debt		495,000,000		365,000,000		663,000,000
Repayment of debt		(165,000,000)		(290,000,000)		(408,000,000)
Repayment of non-recourse debt		(475,000,000)		(376,000,000)		(485,000,000)
Debt issuance costs		(9,000,000)		(6,000,000)		(12,000,000)
Repurchase and retirement of common stock		(10,000,000)		(283,000,000)		(183,000,000)
Payment of withholding taxes on vesting of restricted stock units		(4,000,000)		(4,000,000)		(4,000,000)
Proceeds from employee stock plan purchases		2,000,000		3,000,000
Capital contribution						3,000,000
Proceeds from stock option exercises		1,000,000
Other financing activity		(2,000,000)		(2,000,000)
Net cash provided by (used in) financing activities		328,000,000		(108,000,000)		104,000,000
Net increase (decrease) in cash, cash equivalents and restricted cash		374,000,000		(28,000,000)		(117,000,000)
Cash, cash equivalents and restricted cash, beginning of period		152,000,000		180,000,000		297,000,000
Cash, cash equivalents and restricted cash, end of period		$ 526,000,000		$ 152,000,000		$ 180,000,000

[1] Net (loss) income for years ended December 31, 2020, 2019, and 2018 was ($200,709,244), $215,695,961, and $298,124,983, respectively.  

[2] The sum of the earnings per share for the four quarters may differ from annual earnings per share due to the required method of computing the weighted average shares in interim periods.

[3] Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.