Hilton Grand Vac - HGV STOCK NEWS

Hilton Grand Vacations (NYSE: HGV) has upsized its offering to $850 million in senior unsecured notes, with a fixed interest of 5.000% due in June 2029. The offering, which is set to close on June 4, 2021, was increased by $175 million from its initial proposal. The funds will primarily be used to repay existing debt related to HGV's acquisition of Dakota Holdings, valued at approximately $1.4 billion. The notes will be issued by HGV's wholly-owned subsidiaries and are exempt from certain registration requirements under federal securities laws.

Hilton Grand Vacations is offering $675 million in new senior unsecured notes, maturing in 2029, through its subsidiaries. The proceeds will be used to repay debt related to the merger with Dakota Holdings, valued at approximately $1.4 billion. The offering is exempt from registration under the Securities Act and targets qualified institutional buyers. The notes will be guaranteed by Hilton Grand Vacations and its subsidiaries. The transaction is subject to market conditions and certain escrow release conditions.

Diamond Resorts announced its investor materials due to the pending merger with Hilton Grand Vacations (NYSE: HGV). The quarterly report for the period ended March 31, 2021, is publicly accessible. Key materials include the Q1 2021 earnings summary and a transcript of the investor call. The company emphasizes its focus on providing quality experiences for members. For further inquiries, investors can contact Diamond's or Hilton's investor relations departments.

Hilton Grand Vacations (HGV) reported its Q1 2021 results, showing contract sales of $139 million and total revenues of $235 million, down from $351 million in 2020. The company experienced a net loss of $7 million, compared to a net income of $8 million a year earlier, with diluted EPS at ($0.08). Adjusted EBITDA increased to $42 million from $33 million in Q1 2020. The pandemic continued to affect operations, but roughly 80% of resorts and nearly all sales centers are now open. Management expresses optimism about leisure travel recovery, supported by government assistance and the upcoming acquisition of Diamond Resorts.

Hilton Grand Vacations Inc. (NYSE:HGV) is set to report its financial results for the first quarter of 2021 on April 29, 2021, before the markets open. A teleconference will follow at 11 a.m. (ET), with participants encouraged to join via the Investor Relations website or by phone at 1-877-407-0784 (U.S./Canada) and +1-201-689-8560 (internationally). A replay of the call will be available until May 6, 2021. Hilton Grand Vacations is a prominent global timeshare company based in Orlando, Florida, with over 325,000 club members.

Hilton Grand Vacations (NYSE:HGV) announced its definitive agreement to acquire Diamond Resorts for approximately $1.4 billion, equivalent to 34.5 million shares of HGV stock. This strategic acquisition aims to create the leading vacation ownership company, increasing HGV's market presence to 154 resorts and 720,000 owners. The merger is expected to yield over $125 million in cost synergies and enhance HGV's cash flow and EBITDA streams. The transaction, set to close in summer 2021 pending shareholder and regulatory approvals, will see HGV shareholders retaining 72% ownership of the combined entity.

Hilton Grand Vacations (HGV) reported a challenging fourth quarter for 2020, with contract sales at $132 million, a 63.8% decrease compared to 2019. Total revenues plunged to $212 million from $468 million, influenced by $21 million in revenue deferrals. The company faced a net loss of $154 million due to a non-cash impairment expense of $209 million. Diluted EPS was ($1.81), down from $0.83 in Q4 2019. Despite setbacks from COVID-19, HGV highlighted positive adjusted free cash flow of $68 million and significant liquidity of over $700 million entering 2021.

Hilton Grand Vacations (NYSE:HGV) has opened its first timeshare resort in Mexico, La Pacifica Los Cabos by Hilton Club. Located in Los Cabos, this resort features 74 units with ocean views, swimming pools, a spa, and multiple dining options. Sales began in December 2020, and the resort is now fully operational. HGV aims to enhance vacation experiences while ensuring cleanliness through their Hilton CleanStay program. The resort provides exclusive access to nearby amenities, including a new beach club, promoting safe travel with available COVID-19 testing on-site.

Hilton Grand Vacations Inc. (NYSE:HGV) will report its fourth quarter and full year financial results for 2020 on March 1, 2021, prior to market opening. A teleconference is scheduled for 11 a.m. EST the same day. Investors can join the live webcast on the HGV Investor Relations website or dial in via phone at 1-877-407-0784 in the U.S./Canada. A replay will be available after the call until March 8, 2021. Hilton Grand Vacations is a major player in the timeshare market, offering vacation ownership resorts and club membership programs.