Hilton Grand Vac - HGV STOCK NEWS

Hilton Grand Vacations Inc. (NYSE:HGV) has achieved a significant legal victory in its lawsuit against third-party timeshare exit companies accused of false advertising. The federal court ruling determined that these companies misled timeshare owners into believing they could exit their contracts legally, often charging hefty fees exceeding $100,000. In reality, their services only led to defaults and negative credit consequences for owners. The court found violations of the Lanham Act by the defendants, emphasizing the urgent need for consumer protection against such deceptive practices.

Hilton Grand Vacations (HGV) is launching its second annual fundraising campaign with the American Red Cross, coinciding with Red Cross Giving Day on March 22. The initiative, dubbed 'Early Giving Day', will match public donations up to $50,000 on March 14 to support disaster relief. Each year, natural disasters in the U.S. cause over $150 billion in damages. HGV's partnership aims to assist the Red Cross in providing essential aid to disaster-affected communities. This initiative showcases HGV's commitment to corporate social responsibility and community support through its HGV Serves program.

Hilton Grand Vacations (NYSE: HGV) reported strong fourth quarter 2022 results with total revenues of $992 million, up from $838 million in 2021. Contract sales reached $634 million, reflecting a 21.9% increase in tours. Net income improved to $78 million from $75 million a year prior, with diluted EPS rising to $0.67. Adjusted EBITDA was $252 million, slightly down from $264 million in Q4 2021. The company repurchased 2.5 million shares for $100 million during the quarter. Looking ahead, HGV forecasts 2023 Adjusted EBITDA between $1,090 million and $1,120 million.

Hilton Grand Vacations (NYSE:HGV) will announce its financial results for Q4 and full year 2022 on March 1, 2023, before markets open. This will be followed by a teleconference at 11 a.m. ET. Investors can access the live webcast through the HGV Investor Relations website. For phone access, dial 1-877-407-0784 in the U.S. or +1-201-689-8560 internationally. A replay of the call will be available three hours after its completion until March 8, 2023. The company specializes in vacation ownership resorts and caters to over 725,000 owners globally. More information is available at http://investors.hgv.com.

Hilton Grand Vacations (HGV) announces its Tournament of Champions set for January 19-22, 2023, at Lake Nona Golf & Country Club in Orlando, Florida, featuring 30 top LPGA players competing for a $1.5 million purse. Defending champion Danielle Kang will participate, alongside stars like Nelly Korda and Jodi Ewart Shadoff. The event includes celebrity competitions for a $500,000 purse. The tournament marks the launch of the LPGA Tour season and will be broadcast on NBC and Golf Channel.

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.