Welcome to our dedicated page for Hilton Grand Vac news (Ticker: HGV), a resource for investors and traders seeking the latest updates and insights on Hilton Grand Vac stock.
Hilton Grand Vacations Inc. reports developments in vacation ownership, timeshare financing, resort operations and club management. The company develops, markets and operates brand-name vacation ownership resorts in select destinations and is the exclusive vacation ownership partner of Hilton.
Recurring HGV news covers contract sales, vacation ownership interest sales, consumer financing, interest income, resort and club fees, and available-inventory rentals. Company updates also include timeshare-loan securitizations, resort openings such as Hilton Grand Vacations Club properties in Japan, completed resort-interest acquisitions, Bluegreen Vacations integration references, and branded experience events including the Hilton Grand Vacations Tournament of Champions.
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Hilton Grand Vacations (NYSE:HGV) announced the completion of a $750 million revolving warehouse facility, enhancing its capital structure. This facility supports both right-to-use and deeded inventory with a new advance rate of 90%. The facility, managed by Bank of America, features ESG performance indicators affecting its fees. It aims to create synergies with existing non-recourse capital markets. The revolving period ends in May 2024, with final maturity in May 2025. Hilton Grand Vacations emphasizes its commitment to sustainability in this financial arrangement.
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Hilton Grand Vacations (NYSE:HGV) will release its Q1 2022 financial results on May 9, 2022, before market opening. A teleconference is scheduled for 11 a.m. ET the same day. Participants can join via the Investor Relations website or dial 1-877-407-0784 in the U.S. For international access, call +1-201-689-8560. Replay will be available after the call until May 16, 2022, with an ID# for access. The company is a leading global timeshare firm headquartered in Orlando, Florida, offering high-quality vacation ownership resorts.
Hilton Grand Vacations (NYSE:HGV) has successfully completed a $246 million securitization of legacy Diamond vacation ownership loans via Hilton Grand Vacations Trust 2022-1D. The issuance includes Class A Notes at 3.61% interest and others ranging from 4.10% to 6.79%, with an overall weighted average interest rate of 4.30%. The offering experienced robust demand, peaking at $2.2 billion, leading to an impressive 8.8x over-subscription.
Net proceeds will be allocated to debt reduction and general corporate purposes.
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Hilton Grand Vacations (NYSE:HGV) announces a dollar-for-dollar matching program for donations to the American Red Cross on March 15, up to $50,000. This initiative aims to support domestic disaster relief efforts as the Red Cross responds to over 60,000 disasters annually in the U.S. President and CEO Mark Wang emphasizes the importance of supporting organizations like the Red Cross, which provide vital resources in emergencies. The donation is part of HGV's commitment to corporate social responsibility, particularly in disaster relief.
Hilton Grand Vacations (NYSE:HGV) reported strong fourth-quarter 2021 results, with total revenues reaching $838 million, a significant increase from $212 million in Q4 2020.
Net income for the quarter was $75 million, recovering from a net loss of $154 million in the previous year. Diluted EPS also improved to $0.62 from ($1.81).
Contract sales totaled $521 million, representing 85% of the pre-pandemic Q4 2019 levels. The company has revised its net leverage target to 2.0x-3.0x, reflecting enhanced cash flow confidence following the acquisition of Diamond Resorts.
Hilton Grand Vacations (NYSE:HGV) will release its financial results for Q4 and the full year of 2021 on March 1, 2022, before market opening. A teleconference will follow at 11 a.m. ET, accessible via phone or live webcast. Participants can dial 1-877-407-0784 for U.S. callers or +1-201-689-8560 internationally, 15 minutes prior to the call. A replay will be available post-event through March 8, 2022. Hilton Grand Vacations is a top timeshare company based in Orlando, Florida, serving 710,000 owners worldwide.
Hilton Grand Vacations (NYSE:HGV) opened the 2022 LPGA Tour season with the record-breaking Hilton Grand Vacations Tournament of Champions, held from January 20-23 in Orlando, Florida. The event saw nearly three times the ticket sales compared to previous years, with a purse of $1.5 million, a 25% increase from 2021. LPGA player Danielle Kang took the Professional Title while Derek Lowe won the Celebrity Title. The company announced a $100,000 donation to the ANNIKA Foundation to support female golfers.