Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

The table below sets forth our segment information for the three months ended March 31, 2020 (in thousands):

Revenue:	Sales of ‎VOIs and ‎financing		Resort ‎operations ‎and club ‎management		Corporate ‎and other		Elimination		‎Total
Sales of VOIs	$	45,128	$	—	$	—	$	—	$	45,128
Fee-based sales commission revenue		41,365		—		—		—		41,365
Other fee-based services revenue		2,723		26,591		—		—		29,314
Cost reimbursements		—		19,120		—		—		19,120
Mortgage servicing revenue		1,595		—		—		(1,595)		—
Interest income		20,148		—		1,718		—		21,866
Other income, net		—		—		133		—		133
Total revenue		110,959		45,711		1,851		(1,595)		156,926
Costs and expenses:
Cost of VOIs sold		4,099		—		—		—		4,099
Net carrying cost of VOI inventory		7,914		—		—		(7,914)		—
Cost of other fee-based services		1,470		13,327		—		7,914		22,711
Cost reimbursements		—		19,120		—		—		19,120
Selling, general and administrative expenses		82,138		—		19,234		(175)		101,197
Mortgage servicing expense		1,420		—		—		(1,420)		—
Interest expense		4,664		—		4,154		—		8,818
Total costs and expenses		101,705		32,447		23,388		(1,595)		155,945
Income (loss) before non-controlling
interest and provision for income taxes	$	9,254	$	13,264	$	(21,537)	$	—	$	981
Add: Depreciation and amortization		1,559		190
Add: Severance		2,563		1,134
Segment Adjusted EBITDA (1)	$	13,376	$	14,588

(1)See Management’s Discussion and Analysis of Financial Condition and Results of Operations for information regarding Adjusted EBITDA, including how we define Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income.

The table below sets forth our segment information for the three months ended March 31, 2019 (in thousands):

Revenue:	Sales of ‎VOIs and ‎financing		Resort ‎operations ‎and club ‎management		Corporate ‎and other		Elimination		‎Total
Sales of VOIs	$	51,731	$	—	$	—	$	—	$	51,731
Fee-based sales commission revenue		45,212		—		—		—		45,212
Other fee-based services revenue		2,728		26,840		—		—		29,568
Cost reimbursements		—		17,044		—		—		17,044
Mortgage servicing revenue		1,490		—		—		(1,490)		—
Interest income		20,017		—		1,991		—		22,008
Other income, net		—		—		89		—		89
Total revenue		121,178		43,884		2,080		(1,490)		165,652
Costs and expenses:
Cost of VOIs sold		3,848		—		—		—		3,848
Net carrying cost of VOI inventory		7,687		—		—		(7,687)		—
Cost of other fee-based services		1,210		13,971		—		7,687		22,868
Cost reimbursements		—		17,044		—		—		17,044
Selling, general and administrative expenses		72,196		—		18,128		(110)		90,214
Mortgage servicing expense		1,380		—		—		(1,380)		—
Interest expense		5,262		—		4,244		—		9,506
Total costs and expenses		91,583		31,015		22,372		(1,490)		143,480
Income (loss) before non-controlling
interest and provision for income taxes	$	29,595	$	12,869	$	(20,292)	$	—	$	22,172
Add: Depreciation and amortization		1,536		365
Segment Adjusted EBITDA (1)	$	31,131	$	13,234

(1) See Management’s Discussion and Analysis of Financial Condition and Results of Operations for information regarding Adjusted EBITDA including, how we define Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income.