Hilton Grand Vacations ( (HGV) ) has released its Q3 earnings. Here is a breakdown of the information Hilton Grand Vacations presented to its investors.
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Hilton Grand Vacations Inc. (NYSE: HGV) is a prominent global timeshare company based in Orlando, Florida, known for developing, marketing, and operating vacation ownership resorts in select destinations, and serving over 720,000 Club Members with flexible vacation options. In the third quarter of 2024, Hilton Grand Vacations reported total revenues of $1.306 billion, an increase from $1.018 billion in the previous year, driven by substantial growth in real estate sales and financing. Despite this revenue growth, the company saw a decrease in net income attributable to stockholders, reporting $29 million compared to $92 million the previous year. Adjusted EBITDA rose to $303 million from $269 million, reflecting improvements in operational efficiency and strategic adjustments. Key highlights include a significant rise in contract sales to $777 million and an increase in tours by 39.2%, although the volume per guest (VPG) decreased by 7.2%. Additionally, the company has been actively repurchasing shares, with 2.8 million shares bought back for $108 million during the quarter. Looking ahead, Hilton Grand Vacations remains optimistic about its strategic initiatives, including regionalization and staffing changes, and anticipates further improvements with the introduction of HGV Max to the Bluegreen system, underlining confidence in its ability to drive shareholder value.
