Welcome to our dedicated page for Hilton Grand Vacations news (Ticker: HGV), a resource for investors and traders seeking the latest updates and insights on Hilton Grand Vacations stock.
Hilton Grand Vacations Inc. (HGV) is a leading timeshare company and a division of Hilton Hotels Corporation. Headquartered in Orlando, Florida, HGV specializes in the development, marketing, and management of high-quality vacation ownership resorts in select travel destinations.
Core Business: The company operates in two main segments: Real Estate Sales and Financing and Resort Operations and Club Management. The Real Estate Sales and Financing segment predominately generates revenue from the sale of Vacation Ownership Interests (VOIs) and related financing. The Resort Operations and Club Management segment provides comprehensive management services to a network of resorts. This includes managing owner rental programs, recreational programs, and retail outlets.
Membership Programs: HGV operates two exclusive club membership programs: Hilton Grand Vacations Club® and The Hilton Club®. These programs offer over 127,000 members exclusive access to exchange, leisure travel, and reservation services, enhancing their vacation experience.
Recent Achievements and Current Projects: The company has been expanding its portfolio with new properties in top vacation destinations. It's recognized for its successful resale programs for managed resort properties, ensuring the value of ownership remains strong. HGV also focuses on enhancing customer experience through innovative services and world-class hospitality, which are hallmarks of the Hilton brand.
Financial Condition: The majority of HGV's revenue is derived from its Real Estate Sales and Financing segment, showcasing a robust financial model. The company is committed to maintaining strong financial health to support its strategic growth initiatives.
Partnerships: As part of the Hilton Hotels Corporation, HGV leverages its association with one of the most recognized names in global hospitality to provide exceptional vacation experiences. Their strategic partnerships continue to drive customer satisfaction and operational excellence.
Significance: Hilton Grand Vacations Inc. stands out in the timeshare industry for its quality offerings and strong brand reputation. Investors and travelers alike recognize the value of its well-managed resorts and innovative vacation solutions.
Hilton Grand Vacations (NYSE:HGV) has closed an upsized $850 million revolving warehouse facility that will accommodate both deeded and trust inventory, including loans from recently acquired Bluegreen Vacations. The facility maintains a 90% maximum advance rate and will revolve until November 2026, with final maturity in November 2027. Bank of America continues as administrative agent, with participation from multiple major banks. This consolidation represents a significant milestone in integrating HGV's capital markets platforms following the Bluegreen acquisition in January 2024.
Hilton Grand Vacations (NYSE:HGV) has completed a $500 million securitization of timeshare loans through Hilton Grand Vacations Trust 2024-3. The Trust issued three classes of Notes: $273 million Class A Notes (4.98% coupon), $147 million Class B Notes (5.27% coupon), and $80 million Class C Notes (5.71% coupon), achieving an overall weighted average coupon rate of 5.18% and a 98% advance rate.
This marks HGV's 12th term securitization and first issuance combining HGV, Diamond Resorts, and Bluegreen Vacations collateral under the Hilton Grand Vacations Trust platform. The proceeds will be used to pay down debt and for general corporate purposes.
Hilton Grand Vacations (HGV) reports Q3 2024 results with total revenues of $1.306 billion, up from $1.018 billion in Q3 2023. Contract sales reached $777 million with a member count of 722,000. Net income decreased to $29 million from $92 million year-over-year, while Adjusted EBITDA rose to $303 million from $269 million. The company repurchased 2.8 million shares for $108 million and maintains its full-year 2024 Adjusted EBITDA guidance of $1.075-1.135 billion. Total corporate debt stands at $5.0 billion with a weighted average interest rate of 6.699%.
Hilton Grand Vacations (NYSE:HGV) has scheduled its third quarter 2024 financial results announcement for Thursday, Nov. 7, 2024, before market open. The company will host a teleconference at 11 a.m. ET the same day. Investors can access the live webcast through HGV's Investor Relations website or join via phone using specified dial-in numbers. A replay will be available until Nov. 21, 2024, accessible through both phone and website.
Hilton Grand Vacations Inc. (NYSE:HGV) has announced the purchase of Citadines Kyoto Karasuma Gojo in Kyoto, Japan, marking its first property in Kyoto and third in Japan. The company plans to renovate the property into 63 modern one-bedroom timeshare units with kitchens and a fitness center. Renovation is expected to begin in Q2 2025, with completion in Q1 2026 and sales starting in Q2 2025.
Kyoto, a popular cultural destination, saw a record 75 million tourists in 2023, a 13% increase from the previous year. The property's location in the historic Kyoto tourism and business district provides easy access to restaurants, shopping, and UNESCO World Heritage Sites. This acquisition aligns with HGV's expansion strategy in Japan, where it has experienced year-over-year member growth since 2012, currently exceeding 72,000 members.
Hilton Grand Vacations Inc. (NYSE:HGV) has successfully issued a $400 million Senior Secured Term Loan A, maturing in January 2028, with pricing of SOFR plus 175 basis points. The funds will be used to partially pre-pay the $1.3 billion Term Loan B, which matures in August 2028.
Dan Mathewes, president and CFO of Hilton Grand Vacations, stated that this move will lower interest costs and optimize the company's balance sheet. The issuance is expected to generate nearly $10 million in interest savings over the life of the Term Loan A.
Bank of America served as the lead arranger for the transaction, while Simpson Thacher & Bartlett LLP represented HGV as issuer counsel.
Hilton Grand Vacations (NYSE:HGV) has been recognized for its exceptional company culture, securing the second place in the hospitality category on Newsweek's 'Top Most Loved Workplaces®' list and featuring on the 'Most Admired Workplaces 2025' list. These accolades highlight HGV's commitment to its 'Putting People First' mission, supporting over 20,000 team members globally.
HGV offers industry-leading benefits, including day one medical, dental, vision, disability, life insurance, and 401k plans. The company also provides a DailyPay option and discounted travel experiences through its Go Hilton program. In August 2024, HGV opened a Wellness Center at its Orlando headquarters, offering high-quality healthcare to team members and their dependents.
The Newsweek recognitions were based on extensive surveys involving millions of employees across various companies. HGV has also been acknowledged by USA Today's Top Workplaces USA list and earned its Great Place To Work Certification® for the third consecutive year.
Hilton Grand Vacations Inc. (NYSE:HGV) has appointed Christine Cahill to its board of directors, replacing Alex Van Hoek. Cahill, a principal at Apollo Global Management since 2018, brings expertise in investment banking, finance, and board experience. She will continue her role at Apollo while serving on HGV's board.
Len Potter, chairman of HGV's board, expressed enthusiasm for Cahill's appointment, highlighting her unique balance of financial acumen, strategy development, and investment banking experience. Cahill, a Harvard College graduate, also serves on the boards of Lifepoint Health and ScionHealth. This strategic addition aims to enhance HGV's leadership and guide the company's future direction in the vacation ownership and experiences industry.
Hilton Grand Vacations Inc. (NYSE: HGV) reported its second quarter 2024 results. Key highlights include:
- Total contract sales of $757 million
- Total revenues of $1.235 billion, up from $1.007 billion in Q2 2023
- Net income attributable to stockholders of $2 million, down from $80 million in Q2 2023
- Adjusted EBITDA attributable to stockholders of $262 million, up from $248 million in Q2 2023
- Diluted EPS of $0.02, down from $0.71 in Q2 2023
- Adjusted diluted EPS of $0.62, down from $0.85 in Q2 2023
The company updated its full-year 2024 Adjusted EBITDA guidance to $1.075-$1.135 billion, a reduction of $125 million from previous guidance. HGV cited sales challenges and consumer spending pullback as factors affecting performance.
Hilton Grand Vacations (NYSE:HGV) has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, before the market opens. This will be followed by a teleconference at 11 a.m. ET. Investors and analysts can access the live webcast through the HGV Investor Relations website or join via phone by dialing 1-877-407-0784 (U.S./Canada) or +1-201-689-8560 (international). A replay will be available for a week after the call, accessible by dialing 1-844-512-2921 (U.S.) or +1-412-317-6671 (international) with ID# 13743187. A webcast replay and transcript will also be posted on the company's investor relations website within 24 hours of the live event.
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