Younger families are increasingly turning to timeshares, a service offered by Travel + Leisure Co. (TNL), which recently topped earnings estimates for the first quarter. Travel + Leisure CEO Mike Brown joins Yahoo Finance to discuss the company's niche in the vacation ownership market and broader travel trends.

Travel + Leisure's "very strong Q1" was driven by consumer demand to purchase timeshares, Brown says. "Leisure travel doesn't seem to be slowing from our perspective," he adds, pointing to the Sun Belt, Florida theme parks, and East Coast beaches as particularly popular destinations.

The post-pandemic transformation of work has boosted the company's length of stay, the CEO explains, with consumers getting away from the office earlier and working remotely toward the end of the week. Accommodations like timeshares that offer more space "are at the front end" of what consumers desire for future vacations, Brown adds.

Though Airbnb and VRBO also offer rentals with more space, Brown says Travel + Leisure's commitment to brand differentiates the company from vacation rental businesses. Highlighting the Margaritaville and Wyndham collections, Brown says consumers like the consistency a brand provides. "That's what we offer: brand and great value in vacation ownership," the CEO tells Yahoo Finance.

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This article was written by Gabriel Roy.