Hilton Grand Vac Stock Price, News & Analysis

Hilton Grand Vacations Inc. (NYSE:HGV) has appointed Christine Cahill to its board of directors, replacing Alex Van Hoek. Cahill, a principal at Apollo Global Management since 2018, brings expertise in investment banking, finance, and board experience. She will continue her role at Apollo while serving on HGV's board.

Len Potter, chairman of HGV's board, expressed enthusiasm for Cahill's appointment, highlighting her unique balance of financial acumen, strategy development, and investment banking experience. Cahill, a Harvard College graduate, also serves on the boards of Lifepoint Health and ScionHealth. This strategic addition aims to enhance HGV's leadership and guide the company's future direction in the vacation ownership and experiences industry.

Hilton Grand Vacations Inc. (NYSE: HGV) reported its second quarter 2024 results. Key highlights include:

- Total contract sales of $757 million
- Total revenues of $1.235 billion, up from $1.007 billion in Q2 2023
- Net income attributable to stockholders of $2 million, down from $80 million in Q2 2023
- Adjusted EBITDA attributable to stockholders of $262 million, up from $248 million in Q2 2023
- Diluted EPS of $0.02, down from $0.71 in Q2 2023
- Adjusted diluted EPS of $0.62, down from $0.85 in Q2 2023

The company updated its full-year 2024 Adjusted EBITDA guidance to $1.075-$1.135 billion, a reduction of $125 million from previous guidance. HGV cited sales challenges and consumer spending pullback as factors affecting performance.

Hilton Grand Vacations (NYSE:HGV) has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, before the market opens. This will be followed by a teleconference at 11 a.m. ET. Investors and analysts can access the live webcast through the HGV Investor Relations website or join via phone by dialing 1-877-407-0784 (U.S./Canada) or +1-201-689-8560 (international). A replay will be available for a week after the call, accessible by dialing 1-844-512-2921 (U.S.) or +1-412-317-6671 (international) with ID# 13743187. A webcast replay and transcript will also be posted on the company's investor relations website within 24 hours of the live event.

Hilton Grand Vacations (NYSE:HGV) has announced the entertainment lineup for the 2025 HGV Tournament of Champions, the LPGA Tour season opener. The event will feature an exclusive three-night private concert series headlined by Luke Bryan, Flo Rida, and Chicago at Boxi Park in Lake Nona. The tournament, combining top LPGA Tour winners and celebrities, will take place from Jan. 30 to Feb. 2, 2025, at Lake Nona Golf & Country Club.

The tournament offers a $2 million prize for LPGA champions and will be nationally televised. HGV and LPGA have extended their partnership for five years, with the purse growing to $2.5 million by 2029. The 2024 event included a $100,000 donation to the ANNIKA Foundation to support youth development and women's golf opportunities.

Hilton Grand Vacations Inc. (NYSE:HGV) has successfully repriced its existing $900 million Term Loan B, set to mature on Jan. 17, 2031. The new pricing is SOFR plus 225 basis points, reduced from the previous SOFR plus 275 basis points. This repricing is expected to generate nearly $4.5 million in annual savings for the company.

Dan Mathewes, president and CFO of Hilton Grand Vacations, expressed satisfaction with the company's execution and success in their capital markets platform, highlighting the reduction in spreads and borrowing costs despite a volatile market. The company also managed to expand its investor base through this process. Bank of America served as the lead arranger, while Simpson Thacher & Bartlett LLP represented HGV as issuer counsel.

Hilton Grand Vacations (NYSE:HGV) announces the return of the HGV Clubhouse for the 2024 FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX from Nov. 21-23. The clubhouse will offer exclusive, all-inclusive viewing experiences, including elevated trackside views, chef-curated menus, top-shelf bars, and nightly performances.

Located at the Elara by Hilton Grand Vacations, the clubhouse will feature musical performances by Flo Rida, STARSHIP with Mickey Thomas, LOCASH, and DJ Brooke Evers. Last year's event drew over 315,000 attendees and generated nearly $1.5 billion for Nevada's economy.

Hilton Grand Vacations (NYSE:HGV) announced the appointment of Gail Mandel to its board of directors, expanding the board to 10 members. Mandel, managing director of Focused Point Ventures, brings extensive hospitality, financial, and public company experience. She has previously served as president and CEO of Wyndham Destination Network, where she oversaw the $1.3 billion divestiture of Wyndham’s European Rentals business and completed over 12 acquisitions. Mandel is expected to leverage her expertise in timeshare, financial, and public company sectors to contribute to HGV's strategic direction. She also holds board positions at Sabre , Dave & Buster’s Entertainment, PureStar, and the Community Foundation of New Jersey.

Hilton Grand Vacations (NYSE:HGV) has completed a $375 million securitization of timeshare loans through Hilton Grand Vacations Trust 2024-2 (HGVT). The issuance includes four classes of Notes: $217 million Class A at 5.50% coupon rate, $80 million Class B at 5.65%, $57 million Class C at 5.99%, and $21 million Class D at 6.91%, with an overall weighted average coupon rate of 5.68% and advance rate of 99%.

This marks HGV’s 11th securitization, highlighting strong investor interest with peak oversubscription of 5.2x and orders from over 30 unique investors. The funds will aid in debt reduction and general corporate purposes. The issuance was managed by BofA Securities and co-managed by several other financial institutions.

Hilton Grand Vacations Inc. reported its first quarter 2024 results with total revenues of $1,156 million, a net loss of $(4) million, and adjusted net income of $99 million. The company repurchased shares worth $99 million and has $213 million remaining under the 2023 Share Repurchase Plan. The guidance for 2024 Adjusted EBITDA is between $1.2 billion to $1.26 billion. The acquisition of Bluegreen Vacations was completed in January 2024.