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. (NYSE: HGV) generates a steady flow of news through its activities as a global timeshare and vacation ownership company headquartered in Orlando, Florida. As the exclusive vacation ownership partner of Hilton, the company regularly issues updates on financial performance, capital markets activity, experiential events and strategic developments that are relevant to investors and followers of the hospitality and vacation ownership sector.
News about Hilton Grand Vacations often includes quarterly earnings releases, where the company reports contract sales, segment revenues, Adjusted EBITDA, construction-related revenue deferrals and recognitions, and details on its Real Estate Sales and Financing and Resort Operations and Club Management segments. These releases are typically furnished to the SEC on Form 8-K and provide insight into trends in VOI sales, financing revenue and resort operations.
Another key news category involves financing and securitization transactions. Hilton Grand Vacations frequently announces term note securitizations of timeshare loans through trusts such as Hilton Grand Vacations Trust and Hilton Grand Vacations Japan Trust. These updates describe the size and structure of the securitizations, coupon rates on various classes of notes, and the intended use of proceeds, such as paying down debt and supporting general corporate purposes.
The company also issues news about experiential and sponsorship initiatives tied to its HGV Ultimate Access platform. Examples include announcements related to the Hilton Grand Vacations Tournament of Champions, an LPGA Tour season opener that combines professional golf with celebrity participants and a private concert series, and the HGV Clubhouse at the FORMULA 1 HEINEKEN LAS VEGAS GRAND PRIX, a trackside hospitality experience with live entertainment. These stories highlight how Hilton Grand Vacations integrates travel, sports and live entertainment into its member offerings.
Additional news items may cover share repurchase authorizations and activity, secondary offerings by existing stockholders, and the filing of financial information related to acquisitions such as Bluegreen Vacations Holding Corporation. For investors and observers, following HGV news provides visibility into the company’s operating performance, capital structure decisions and evolving portfolio of vacation ownership and experiential offerings.
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.
Hilton Grand Vacations (NYSE:HGV) has been recognized for its exceptional company culture, securing the second place in the hospitality category on Newsweek's 'Top Most Loved Workplaces®' list and featuring on the 'Most Admired Workplaces 2025' list. These accolades highlight HGV's commitment to its 'Putting People First' mission, supporting over 20,000 team members globally.
HGV offers industry-leading benefits, including day one medical, dental, vision, disability, life insurance, and 401k plans. The company also provides a DailyPay option and discounted travel experiences through its Go Hilton program. In August 2024, HGV opened a Wellness Center at its Orlando headquarters, offering high-quality healthcare to team members and their dependents.
The Newsweek recognitions were based on extensive surveys involving millions of employees across various companies. HGV has also been acknowledged by USA Today's Top Workplaces USA list and earned its Great Place To Work Certification® for the third consecutive year.
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.