Hilton Grand Vac Stock Price, News & Analysis

Hilton Grand Vacations (NYSE:HGV) has announced the lineup for the 2025 Hilton Grand Vacations Tournament of Champions, featuring 32 LPGA Tour winners from the previous two seasons competing alongside celebrities. The tournament, scheduled for Jan. 30 to Feb. 2 at Lake Nona Golf & Country Club in Orlando, offers $2 million in prize money for LPGA players and a $500,000 purse for celebrities.

Defending champion and LPGA Hall of Famer Lydia Ko will return, joining notable players like Olympic gold medalist Nelly Korda, Brooke Henderson, and 2023 Rookie of the Year Haeran Ryu. The celebrity roster includes NBC's Dylan Dreyer, actor Don Cheadle, NBA All-Star Blake Griffin, and NFL Hall of Famer Charles Woodson.

The event will feature a three-night private concert series with performances by Luke Bryan, Chicago, and 3 Doors Down. The tournament will be broadcast nationally on NBC, Peacock, and Golf Channel.

Hilton Grand Vacations (NYSE:HGV) has announced the celebrity lineup for its 2025 Tournament of Champions, featuring notable personalities including NBC's Dylan Dreyer, Don Cheadle, Blake Griffin, and Charles Woodson. The event, serving as the LPGA Tour's season opener, will be held from January 30 to February 2, 2025, at Lake Nona Golf & Country Club in Orlando.

LPGA Hall of Famer Lydia Ko, the reigning tournament winner, joins as a 2025 brand ambassador and will participate in exclusive events for HGV members. The tournament offers $2 million in prize money for LPGA Tour champions and a separate $500,000 purse for celebrities. The event will feature a three-night private concert series headlined by Luke Bryan and Chicago, among others.

Hilton Grand Vacations (NYSE:HGV) has launched a new youth golf clinic program in partnership with Boys & Girls Clubs of Central Florida. The six-week program features World Long Drive Champion Maurice Allen as coach, focusing on mental resilience, strategic thinking, and overcoming challenges. The initiative will conclude before the 2025 Hilton Grand Vacations Tournament of Champions, where participants will have the opportunity to attend and observe professional golfers.

The tournament is scheduled for Jan. 30-Feb. 2, 2025, at Lake Nona Golf & Country Club in Orlando, Florida, featuring LPGA Tour players and celebrities. The event will include a three-night private concert series headlined by Luke Bryan and Chicago.

Hilton Grand Vacations (NYSE:HGV) has closed an upsized $850 million revolving warehouse facility that will accommodate both deeded and trust inventory, including loans from recently acquired Bluegreen Vacations. The facility maintains a 90% maximum advance rate and will revolve until November 2026, with final maturity in November 2027. Bank of America continues as administrative agent, with participation from multiple major banks. This consolidation represents a significant milestone in integrating HGV's capital markets platforms following the Bluegreen acquisition in January 2024.

Hilton Grand Vacations (NYSE:HGV) has completed a $500 million securitization of timeshare loans through Hilton Grand Vacations Trust 2024-3. The Trust issued three classes of Notes: $273 million Class A Notes (4.98% coupon), $147 million Class B Notes (5.27% coupon), and $80 million Class C Notes (5.71% coupon), achieving an overall weighted average coupon rate of 5.18% and a 98% advance rate.

This marks HGV's 12th term securitization and first issuance combining HGV, Diamond Resorts, and Bluegreen Vacations collateral under the Hilton Grand Vacations Trust platform. The proceeds will be used to pay down debt and for general corporate purposes.

Hilton Grand Vacations (HGV) reports Q3 2024 results with total revenues of $1.306 billion, up from $1.018 billion in Q3 2023. Contract sales reached $777 million with a member count of 722,000. Net income decreased to $29 million from $92 million year-over-year, while Adjusted EBITDA rose to $303 million from $269 million. The company repurchased 2.8 million shares for $108 million and maintains its full-year 2024 Adjusted EBITDA guidance of $1.075-1.135 billion. Total corporate debt stands at $5.0 billion with a weighted average interest rate of 6.699%.

Hilton Grand Vacations (NYSE:HGV) has scheduled its third quarter 2024 financial results announcement for Thursday, Nov. 7, 2024, before market open. The company will host a teleconference at 11 a.m. ET the same day. Investors can access the live webcast through HGV's Investor Relations website or join via phone using specified dial-in numbers. A replay will be available until Nov. 21, 2024, accessible through both phone and website.

Hilton Grand Vacations Inc. (NYSE:HGV) has announced the purchase of Citadines Kyoto Karasuma Gojo in Kyoto, Japan, marking its first property in Kyoto and third in Japan. The company plans to renovate the property into 63 modern one-bedroom timeshare units with kitchens and a fitness center. Renovation is expected to begin in Q2 2025, with completion in Q1 2026 and sales starting in Q2 2025.

Kyoto, a popular cultural destination, saw a record 75 million tourists in 2023, a 13% increase from the previous year. The property's location in the historic Kyoto tourism and business district provides easy access to restaurants, shopping, and UNESCO World Heritage Sites. This acquisition aligns with HGV's expansion strategy in Japan, where it has experienced year-over-year member growth since 2012, currently exceeding 72,000 members.

Hilton Grand Vacations Inc. (NYSE:HGV) has successfully issued a $400 million Senior Secured Term Loan A, maturing in January 2028, with pricing of SOFR plus 175 basis points. The funds will be used to partially pre-pay the $1.3 billion Term Loan B, which matures in August 2028.

Dan Mathewes, president and CFO of Hilton Grand Vacations, stated that this move will lower interest costs and optimize the company's balance sheet. The issuance is expected to generate nearly $10 million in interest savings over the life of the Term Loan A.

Bank of America served as the lead arranger for the transaction, while Simpson Thacher & Bartlett LLP represented HGV as issuer counsel.