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 (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.
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