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.
Hilton Grand Vacations Inc. (NYSE:HGV) announces its partnership with the LPGA for the 2022 Hilton Grand Vacations Tournament of Champions, taking place from January 20-23 at Lake Nona Golf & Country Club in Orlando, Florida. This year, the tournament features an increased purse of $1.5 million, up from $1.2 million in 2021. Nearly 30 LPGA star athletes, including Nelly Korda and Jessica Korda, will compete alongside various celebrity participants. This event aims to enhance visibility for women’s golf and foster greater fan engagement.
Hilton Grand Vacations (NYSE:HGV) has successfully refinanced and increased its revolving credit facility from $800 million to $1 billion. Currently, $699 million remains accessible. CFO Dan Mathewes noted that this enhancement in the credit facility reflects the company's ongoing optimization of its capital structure, particularly following its acquisition of Diamond Resorts. The funds will be used for working capital and general corporate purposes.
Hilton Grand Vacations Inc. (NYSE:HGV) reported strong Q3 2021 results, with contract sales reaching $433 million. Legacy-HGV sales were $290 million, 81% of Q3 2019 levels, while Diamond contributed $143 million during its 59-day ownership. Total revenues surged to $928 million from $208 million YoY, with net income of $99 million compared to a loss of $7 million in Q3 2020. Adjusted EBITDA also increased to $340 million from $19 million. HGV achieved $70 million in annualized cost synergies from the Diamond acquisition, exceeding half of its $125 million target.
Hilton Grand Vacations (NYSE:HGV) has announced a star-studded concert series for the 2022 Tournament of Champions, featuring artists such as Sheryl Crow and Boyz II Men. The event, taking place at Lake Nona Golf & Country Club in Orlando from January 18-22, will showcase performances alongside a unique golfing format, blending LPGA Tour winners and celebrity players. The tournament offers a prize pool of $1.2 million for professionals and $500,000 for celebrities. This event signifies HGV's commitment to enhancing guest experiences while launching the LPGA Tour season.
Hilton Grand Vacations (NYSE:HGV) announced the soft opening of Maui Bay Villas, its first property on Maui, enhancing its portfolio in Hawaii to ten locations. The oceanfront resort features 31 initial suites, with a total of 388 planned by 2027. Key amenities include a pool and fitness center. Significant infrastructure improvements were made to the local community, alongside a commitment to sustainability through water-efficient appliances and landscaping with native plants. Approximately 50 full-time jobs have been created, with future hiring expected.
Hilton Grand Vacations (NYSE:HGV) will announce its third quarter 2021 financial results on November 9, 2021, before the market opens, followed by a teleconference at 11 a.m. ET. Investors can listen live via the HGV Investor Relations website. For phone access, call 1-877-407-0784 (U.S./Canada) or +1-201-689-8560 internationally, 15 minutes prior to the start. A replay will be available three hours after the call until November 16, 2021. HGV, headquartered in Orlando, Florida, is a renowned timeshare company, developing high-quality vacation ownership resorts worldwide.
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Hilton Grand Vacations (NYSE:HGV) has announced the opening of The Beach Resort Sesoko by Hilton Club on October 5, 2021, on Sesoko Island, Okinawa. This marks the first vacation ownership property in Okinawa, designed to enhance HGV's investment in the APAC region. The resort will provide HGV owners access to unique local experiences and breathtaking natural beauty. The facility features 140 rooms with ocean views, a private pool, and various amenities. The opening week will include cultural activities and gourmet food tastings, promoting the beauty and culture of Okinawa.
Hilton Grand Vacations (NYSE:HGV) has partnered with Habitat for Humanity International, announcing a $100,000 donation to support employee volunteer projects for home builds and repairs across the U.S. The initiative is part of HGV's corporate social responsibility program, HGV Serves, which focuses on affordable housing, disaster relief, and youth development. Employees will have opportunities to engage in volunteer work through 2022, enhancing community support and outreach efforts. HGV's CEO, Mark Wang, emphasized the company’s commitment to creating access to affordable shelter.