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) will host the 2023 HGV Tournament of Champions in Orlando, featuring approximately 50 celebrities alongside LPGA professionals. This star-studded event will take place from January 19-22, 2023, with a total prize pool of $2 million. Notable participants include Roger Clemens, Annika Sörenstam, and Vince Carter. The tournament aims to boost women’s golf visibility and will be televised on NBC and Golf Channel. HGV's commitment to experiential events continues with entertainment from renowned artists.
Hilton Grand Vacations (NYSE: HGV) reported strong third quarter 2022 results, with total contract sales reaching $621 million and total revenues of $1,116 million, up from $928 million in 2021. Net income rose to $150 million, compared to $99 million last year. The company achieved $150 million in run-rate cost synergies ahead of schedule following the Diamond Acquisition. HGV expects 2022 Adjusted EBITDA guidance between $1,025 million and $1,045 million. The company continues to return capital to shareholders, repurchasing 2.3 million shares for $89 million.
Hilton Grand Vacations (NYSE:HGV) will report its third-quarter financial results on November 9, 2022, before the market opens. The results will be followed by a teleconference at 11 a.m. ET. Participants can listen to the live webcast via the HGV Investor Relations website. For phone access, dial 1-877-407-0784 within the U.S. or +1-201-689-8560 internationally. A replay of the teleconference will be available until November 16, 2022. Hilton Grand Vacations is a leading global timeshare company based in Orlando, Florida.
Hilton Grand Vacations (NYSE:HGV) celebrated the one-year anniversary of The Beach Resort Sesoko in Japan with a grand opening on
Hilton Grand Vacations (NYSE:HGV) has announced a national partnership with Boys & Girls Clubs of America as part of its HGV Serves corporate social responsibility initiative. This partnership aims to empower and inspire young people through volunteer opportunities for HGV team members at local Clubs. The initiative aligns with HGV’s commitment to youth development, alongside disaster relief, homelessness, and veteran support. Mark Wang, CEO of HGV, emphasizes the company's responsibility to create positive community impacts.
Hilton Grand Vacations (HGV) announces the return of the HGV Tournament of Champions, set for January 19-22, 2023, in Orlando, Florida. This premier LPGA Tour event features an all-female concert lineup, including En Vogue, Maren Morris, Ellie Goulding, and Paris Hilton. Participants compete for $1.5 million in prize money, while celebrities vie for $500,000. HGV also introduces the Viva! Las Vegas event, a members-only experience with concerts by Michael Ray and Joey Fatone. HGV aims to enhance its experiential events platform, HGV Ultimate Access, to attract a new generation of travelers.
Hilton Grand Vacations (NYSE:HGV) has successfully completed a $269 million securitization of ownership loans through Hilton Grand Vacations Trust 2022-2. The issued Notes include approximately $153 million of Class A, $73 million of Class B, $26 million of Class C, and $17 million of Class D Notes, with overall interest rates ranging from 4.30% to 8.73%. Proceeds will be used for debt repayment and corporate purposes. Five new investors joined the platform, allowing competitive pricing despite higher benchmark rates.
Hilton Grand Vacations (HGV) reported its Q2 2022 results with total contract sales of $617 million, exceeding pre-pandemic levels. The company achieved $948 million in total revenues, a significant increase from $334 million in Q2 2021. Net income rose to $73 million from $9 million year-over-year, with diluted EPS climbing to $0.60, compared to $0.10. Adjusted EBITDA reached $273 million, driven by improved travel demand and a growing member base from the Diamond Acquisition. HGV maintains its 2022 guidance for Deferral Adjusted EBITDA between $960 million and $990 million.
Hilton Grand Vacations (NYSE:HGV) announces a three-day concert series headlined by En Vogue, Maren Morris, and Ellie Goulding during the 2023 HGV Tournament of Champions, scheduled for January 17, 19, and 21 in Orlando, Florida.
This event will feature LPGA Tour winners alongside celebrities and has a total purse of $2 million. The tournament also supports the ANNIKA Foundation, which promotes opportunities for female golfers.
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