0001674168FALSE00016741682024-08-082024-08-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________________
FORM 8-K
_________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 8, 2024
_________________________________________________
Hilton Grand Vacations Inc.
(Exact Name of Registrant as Specified in its Charter)
_________________________________________________
Delaware001-3779481-2545345
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
6355 MetroWest Boulevard, Suite 180
Orlando, Florida
32835
(Address of principal executive offices)
(Zip Code)
(407) 613-3100
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
_________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per shareHGVNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth companyo
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02     Results of Operations and Financial Condition.
On August 8, 2024, Hilton Grand Vacations Inc. (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended June 30, 2024. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information under this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01     Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
Exhibit 99.1
Exhibit 104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HILTON GRAND VACATIONS INC.
By:/s/ Daniel J. Mathewes
Daniel J. Mathewes
President and Chief Financial Officer
Date: August 8, 2024

Exhibit 99.1
logoa.jpg
Investor Contact:
Mark Melnyk
407-613-3327
mark.melnyk@hgv.com
Media Contact:
Lauren George
407-613-8431
lauren.george@hgv.com
FOR IMMEDIATE RELEASE
Hilton Grand Vacations Reports Second Quarter 2024 Results
ORLANDO, Fla. (Aug. 8, 2024) – Hilton Grand Vacations Inc. (NYSE: HGV) (“HGV” or “the Company”) today reports its second quarter 2024 results.
Second quarter of 2024 highlights1
•Total contract sales were $757 million.
•Member count was 720,000. Net Owner Growth (NOG) for the legacy HGV-DRI business for the 12 months ended June 30, 2024, was 1.7%.
•Total revenues for the second quarter of 2024 were $1.235 billion compared to $1.007 billion for the same period in 2023.
◦Total revenues were affected by a net deferral of $13 million in the current period compared to a net deferral of $6 million in the same period in 2023.
•Net income attributable to stockholders for the second quarter was $2 million compared to $80 million net income attributable to stockholders for the same period in 2023.
◦Adjusted net income attributable to stockholders for the second quarter was $65 million compared to $95 million for the same period in 2023.
◦Net income attributable to stockholders and adjusted net income attributable to stockholders were affected by a net deferral of $8 million in the current period compared to a net deferral of $4 million in the same period in 2023.
•Diluted EPS for the second quarter was $0.02 compared to $0.71 for the same period in 2023.
◦Adjusted diluted EPS for the second quarter was $0.62 compared to $0.85 for the same period in 2023.
◦Diluted EPS and adjusted diluted EPS were affected by a net deferral of $8 million in the current period compared to a net deferral of $4 million in the same period in 2023, or $(0.08) and $(0.04) per share in the current period and the same period in 2023, respectively.
•Adjusted EBITDA attributable to stockholders for the second quarter was $262 million compared to $248 million for the same period in 2023.
◦Adjusted EBITDA attributable to stockholders was affected by a net deferral of $8 million in the current period compared to a net deferral of $4 million in the same period in 2023.
•During the second quarter, the Company repurchased 2.3 million shares of common stock for $100 million.
◦Through July 31, 2024, the Company has repurchased approximately 1.1 million shares for $46 million and currently has $114 million of remaining availability under the 2023 Share Repurchase Plan.
◦On Aug. 7, 2024, HGV’s Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to an aggregate of $500 million of its outstanding shares of common stock over a two-year period (the “2024 Repurchase Plan”), which is in addition to the amount remaining under the 2023 Share Repurchase Plan.
•The Company is updating its guidance for the full year 2024 Adjusted EBITDA, excluding deferrals and recognitions, to a range of $1.075 billion to $1.135 billion, or a reduction of $125 million from its prior guidance range.
“Our results were below expectations this quarter, as we experienced some sales challenges along with a pullback in consumer spending behavior late in the quarter,” said Mark Wang, CEO of Hilton Grand Vacations. “While we aren’t satisfied with our performance, we’ve identified and are addressing those challenges, and I remain confident in our business and our long-term path. Our integration remains on track, and our underlying business fundamentals are solid – with more members, more geographic diversity, and more free cash flow than we’ve ever had.”
1.The Company’s current period results and prior year results include impacts related to deferrals of revenues and direct expenses related to the Sales of VOIs under construction that are recognized when construction is complete. These impacts are reflected in the sub-bullets.
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Overview
On Jan. 17, 2024, HGV completed the acquisition of Bluegreen Vacations Holding Corporation (“Bluegreen” or “Bluegreen Vacations”).
For the quarter ended June 30, 2024, diluted EPS was $0.02 compared to $0.71 for the quarter ended June 30, 2023. Net income attributable to stockholders and Adjusted EBITDA attributable to stockholders were $2 million and $262 million, respectively, for the quarter ended June 30, 2024, compared to net income attributable to stockholders and Adjusted EBITDA attributable to stockholders of $80 million and $248 million, respectively, for the quarter ended June 30, 2023. Total revenues for the quarter ended June 30, 2024, were $1,235 million compared to $1,007 million for the quarter ended June 30, 2023.
Net income attributable to stockholders and Adjusted EBITDA attributable to stockholders for the quarter ended June 30, 2024, included a net deferral of $8 million relating to the sales of intervals of a project under construction in Hawaii during the period. The Company anticipates recognizing revenues and related expenses for projects in Hawaii in 2024 when it expects to complete these projects and recognize the net deferral impacts.
Consolidated Segment Highlights – Second quarter of 2024
Real Estate Sales and Financing
For the quarter ended June 30, 2024, Real Estate Sales and Financing segment revenues were $740 million, an increase of $136 million compared to the quarter ended June 30, 2023. Real Estate Sales and Financing segment Adjusted EBITDA and Adjusted EBITDA profit margin were $193 million and 26.1%, respectively, for the quarter ended June 30, 2024, compared to $189 million and 31.3%, respectively, for the quarter ended June 30, 2023. Real Estate Sales and Financing segment revenues results in the second quarter of 2024 increased primarily due to a $93 million increase in sales revenue and a $26 million increase in financing revenue.
Real Estate Sales and Financing segment Adjusted EBITDA reflects a net construction deferral of $8 million for the quarter ended June 30, 2024, compared to $4 million net construction deferrals for the quarter ended June 30, 2023, both of which decreased reported Adjusted EBITDA attributable to stockholders.
Contract sales for the quarter ended June 30, 2024, increased $145 million to $757 million compared to the quarter ended June 30, 2023. For the quarter ended June 30, 2024, tours increased by 39.4% and VPG decreased by 10.9% compared to the quarter ended June 30, 2023. For the quarter ended June 30, 2024, fee-for-service contract sales represented 19.5% of contract sales compared to 29.5% for the quarter ended June 30, 2023.
Financing revenues for the quarter ended June 30, 2024, increased by $26 million compared to the quarter ended June 30, 2023. This was driven primarily by an increase in the weighted average interest rate of 50 basis points for the originated portfolio and an increase in the carrying balance of the timeshare financing receivables portfolio as of June 30, 2024, compared to June 30, 2023.
Resort Operations and Club Management
For the quarter ended June 30, 2024, Resort Operations and Club Management segment revenue was $386 million, an increase of $66 million compared to the quarter ended June 30, 2023. Resort Operations and Club Management segment Adjusted EBITDA and Adjusted EBITDA profit margin were $152 million and 39.4%, respectively, for the quarter ended June 30, 2024, compared to $123 million and 38.4%, respectively, for the quarter ended June 30, 2023, primarily due to an increase in management fees and higher average daily rates, partially offset by an increase in development and maintenance fees compared to the same period in 2023.
Inventory
The estimated value of the Company’s total contract sales pipeline is $12.8 billion at current pricing.
The total pipeline includes $8.7 billion of sales relating to inventory that is currently available for sale at open or soon-to-open projects. The remaining $4.1 billion of sales is related to inventory at new or existing projects that will become available for sale in the future upon registration, delivery or construction.
Owned inventory represents 90.0% of the Company’s total pipeline. Approximately 68.7% of the owned inventory pipeline is currently available for sale.
Fee-for-service inventory represents 10.0% of the Company’s total pipeline. Approximately 61.5% of the fee-for-service inventory pipeline is currently available for sale.
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Balance Sheet and Liquidity
Total cash and cash equivalents were $328 million and total restricted cash was $273 million as of June 30, 2024.
As of June 30, 2024, the Company had $4,885 million of corporate debt, net outstanding with a weighted average interest rate of 6.850% and $1,725 million of non-recourse debt, net outstanding with a weighted average interest rate of 5.075%.
As of June 30, 2024, the Company’s liquidity position consisted of $328 million of unrestricted cash and $446 million remaining borrowing capacity under the revolver facility.
As of June 30, 2024, HGV has $750 million remaining borrowing capacity in total under the Timeshare Facility. Of this amount, HGV has $647 million of mortgage notes that are available to be securitized and another $324 million of mortgage notes that the Company expects will become eligible as soon as it meets typical milestones, including receipt of first payment, deeding or recording.
Free cash flow was $95 million for the quarter ended June 30, 2024, compared to $180 million for the same period in the prior year. Adjusted free cash flow was $370 million for the quarter ended June 30, 2024, compared to $(13) million for the same period in the prior year. Adjusted free cash flow for the quarter ended June 30, 2024, and 2023 includes add-backs of $62 million and $22 million, respectively for acquisition and integration related costs and $13 million related to litigation settlement payment for the quarter ended June 30, 2024.
As of June 30, 2024, the Company’s total net leverage on a trailing 12-month basis, inclusive of all anticipated cost synergies, was approximately 3.67x.
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Total Construction Deferrals and/or Recognitions Included in Results Reported Under Accounting Standards Codification Topic 606 (“ASC 606”)
The Company’s Adjusted EBITDA as reported under ASC 606 includes construction-related recognitions and deferrals of revenues and related expenses as detailed in Table T-1 below. Under ASC 606, the Company defers revenues and related expenses pertaining to sales at projects that occur during periods when that project is under construction until the period when construction is completed.

T-1
NET CONSTRUCTION DEFERRAL ACTIVITY
(in millions)
2024
NET CONSTRUCTION DEFERRAL ACTIVITYFirst
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter		Full
Year
Sales of VOIs recognitions (deferrals)
$2 $(13)$— $— $(11)
Cost of VOI sales (deferrals)(1)
(1)(4)— — (5)
Sales and marketing expense (deferrals)
— (1)— — (1)
Net construction recognitions (deferrals)(2)
$3 $(8)$— $— $(5)
Net (loss) income attributable to stockholders
$(4)$2 $— $— $(2)
Net income attributable to noncontrolling interest
2 2 — — 4 
Net (loss) income
(2)4 — — 2 
Interest expense79 87 — — 166 
Income tax (benefit) expense
(11)3 — — (8)
Depreciation and amortization62 68 — — 130 
Interest expense and depreciation and amortization included in equity in earnings from unconsolidated affiliates1 2 — — 3 
EBITDA129 164 — — 293 
Other loss, net
5 3 — — 8 
Share-based compensation expense9 18 — — 27 
Acquisition and integration-related expense109 48 — — 157 
Impairment expense2 — — — 2 
Other adjustment items(3)
22 33 — — 55 
Adjusted EBITDA276 266 — — 542 
Adjusted EBITDA attributable to noncontrolling interest3 4 — — 7 
Adjusted EBITDA attributable to stockholders$273 $262 $— $— $535 
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T-1
NET CONSTRUCTION DEFERRAL ACTIVITY
(CONTINUED, in millions)
2023
NET CONSTRUCTION DEFERRAL ACTIVITYFirst
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter		Full
Year
Sales of VOIs recognitions (deferrals)
$4 $(6)$(12)$(21)$(35)
Cost of VOI sales recognitions (deferrals)(1)
1 (1)(3)(6)(9)
Sales and marketing expense recognitions (deferrals)
1 (1)(2)(3)(5)
Net construction recognitions (deferrals)(2)
$2 $(4)$(7)$(12)$(21)
Net income attributable to stockholders
$73 $80 $92 $68 $313 
Net income attributable to noncontrolling interest
— — — — — 
Net income
73 80 92 68 313 
Interest expense44 44 45 45 178 
Income tax expense17 35 44 40 136 
Depreciation and amortization51 52 53 57 213 
Interest expense and depreciation and amortization included in equity in earnings from unconsolidated affiliates— 1 — 1 2 
EBITDA185 212 234 211 842 
Other (gain) loss, net(1)(3)1 1 (2)
Share-based compensation expense10 16 12 2 40 
Acquisition and integration-related expense17 13 12 26 68 
Impairment expense
— 3 — — 3 
Other adjustment items(3)
7 7 10 30 54 
Adjusted EBITDA218 248 269 270 1,005 
Adjusted EBITDA attributable to noncontrolling interest
— — — — — 
Adjusted EBITDA attributable to stockholders
$218 $248 $269 $270 $1,005 
(1)Includes anticipated Costs of VOI sales related to inventory associated with Sales of VOIs under construction that will be acquired once construction is complete.
(2)The table represents deferrals and recognitions of Sales of VOIs revenue and direct costs for properties under construction.
(3)Includes costs associated with restructuring, one-time charges and other non-cash items. This amount also includes the amortization of premiums and discounts resulting from purchase accounting.

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Conference Call
Hilton Grand Vacations will host a conference call on Aug. 8, 2024, at 11 a.m. (ET) to discuss second quarter results.
To access the live teleconference, please dial 1-877-407-0784 in the U.S./Canada (or +1-201-689-8560 internationally) approximately 15 minutes prior to the teleconference’s start time. A live webcast will also be available by logging onto the HGV Investor Relations website at https://investors.hgv.com.
In the event of audio difficulties during the call on the toll-free number, participants are advised that accessing the call using the +1-201-689-8560 dial-in number may bypass the source of audio difficulties.
A replay will be available within 24 hours after the teleconference’s completion through Aug. 15, 2024. To access the replay, please dial 1-844-512-2921 in the U.S. (+1-412-317-6671 internationally) using ID#13743187. A webcast replay and transcript will also be available within 24 hours after the live event at https://investors.hgv.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management’s expectations as to the future of HGV, and are based on management’s beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words “outlook,” “believe,” “expect,” “potential,” “goal,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “future,” “guidance,” “target,” or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements related to HGV’s revenues, earnings, taxes, cash flow and related financial and operating measures, and expectations with respect to future operating, financial and business performance and other anticipated future events and expectations that are not historical facts, including, related to the acquisition and integration of Bluegreen Vacations Holding Corporation (“Bluegreen”).
HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV’s control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties, including those related to HGV's acquisition and integration of Bluegreen, could adversely impact HGV’s operations, revenue, operating profits and margins, key business operational metrics, financial condition or credit rating.
For a more detailed discussion of these factors, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in HGV’s most recent Annual Report on Form 10-K, which may be supplemented and updated by the risk factors in HGV’s quarterly reports, current reports and other filings HGV makes with the SEC.
HGV’s forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any “forward-looking statement” made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Non-GAAP Financial Measures
The Company refers to certain non-GAAP financial measures in this press release, including Adjusted Net Income or Loss, Adjusted Diluted EPS, EBITDA, Adjusted EBITDA, Adjusted EBITDA Attributable to Stockholders, EBITDA profit margin, Adjusted EBITDA profit margin, Free Cash Flow and Adjusted Free Cash Flow, profits and profit margins for HGV’s key activities - real estate, financing, resort and club management, and rental and ancillary services. Please see the tables in this press release and “Definitions” for additional information and reconciliations of such non-GAAP financial measures.
The Company believes these additional measures are also important in helping investors understand the performance and efficiency with which we are able to convert revenues for each of these key activities into operating profit, both in dollars and as margins, and are frequently used by securities analysts, investors and other interested parties as one of common performance measures to compare results or estimate valuations across companies in our industry.
The Company refers to Adjusted EBITDA guidance excluding deferrals and recognitions, which does not take into account any future deferrals of revenues and direct expenses related to the sales of VOIs under construction that are recognized, only on a non-GAAP basis, as the quantification of reconciling items to the most directly comparable U.S. GAAP financial measure is not readily available without unreasonable effort due to uncertainties associated with the timing and amount of such items. These items may create a material difference between the non-GAAP and comparable U.S. GAAP results. We
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define Adjusted EBITDA Attributable to Stockholders as Adjusted EBITDA excluding amounts attributable to the noncontrolling interest in HGV/Big Cedar Vacations in which HGV owns a 51% interest (“Big Cedar”).
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in Orlando, Florida, Hilton Grand Vacations develops, markets, and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. Hilton Grand Vacations has a reputation for delivering a consistently exceptional standard of service, and unforgettable vacation experiences for guests and approximately 720,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world.
For more information, visit www.corporate.hgv.com. Follow us on Instagram, Facebook, LinkedIn, X (formerly Twitter), Pinterest and YouTube.
HILTON GRAND VACATIONS INC.
DEFINITIONS
EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders
EBITDA, presented herein, is a financial measure that is not recognized under U.S. GAAP that reflects net income, before interest expense (excluding non-recourse debt), a provision for income taxes and depreciation and amortization.
Adjusted EBITDA, presented herein, is calculated as EBITDA, as previously defined, further adjusted to exclude certain items, including, but not limited to, gains, losses and expenses in connection with: (i) other gains, including asset dispositions and foreign currency transactions; (ii) debt restructurings/retirements; (iii) non-cash impairment losses; (iv) share-based and other compensation expenses; and (v) other items, including but not limited to costs associated with acquisitions, restructuring, amortization of premiums and discounts resulting from purchase accounting, and other non-cash and one-time charges.
Adjusted EBITDA Attributable to Stockholders is calculated as Adjusted EBITDA, as previously defined, excluding amounts attributable to the noncontrolling interest in Big Cedar.
EBITDA profit margin, presented herein, represents EBITDA, as previously defined, divided by total revenues. Adjusted EBITDA profit margin, presented herein, represents Adjusted EBITDA, as previously defined, divided by total revenues.
EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders are not recognized terms under U.S. GAAP and should not be considered as alternatives to net income or other measures of financial performance or liquidity derived in accordance with U.S. GAAP. In addition, our definitions of EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders may not be comparable to similarly titled measures of other companies.
HGV believes that EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders provide useful information to investors about us and our financial condition and results of operations for the following reasons: (i) EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders are among the measures used by our management team to evaluate our operating performance and make day-to-day operating decisions; and (ii) EBITDA and Adjusted EBITDA are frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry.

EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders have limitations as analytical tools and should not be considered either in isolation or as a substitute for net income, cash flow or other methods of analyzing our results as reported under U.S. GAAP. Some of these limitations are:
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect changes in, or cash requirements for, our working capital needs;
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect our interest expense (excluding interest expense on non-recourse debt), or the cash requirements necessary to service interest or principal payments on our indebtedness;
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect our tax expense or the cash requirements to pay our taxes;
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments;
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect the effect on earnings or changes resulting from matters that we consider not to be indicative of our future operations;
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•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders do not reflect any cash requirements for future replacements of assets that are being depreciated and amortized; and
•EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders may be calculated differently from other companies in our industry limiting their usefulness as comparative measures.
Because of these limitations, EBITDA, Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders should not be considered as discretionary cash available to us to reinvest in the growth of our business or as measures of cash that will be available to us to meet our obligations.
Adjusted Net Income, Adjusted Net Income Attributable to Stockholders and Adjusted Diluted EPS Attributable to Stockholders
Adjusted Net Income, presented herein, is calculated as net income further adjusted to exclude certain items, including, but not limited to, gains, losses and expenses in connection with costs associated with acquisitions, restructuring, amortization of premiums and discounts resulting from purchase accounting, and other non-cash and one-time charges. Adjusted Net Income Attributable to Stockholders, presented herein, is calculated as Adjusted Net Income, as defined above, excluding amounts attributable to the noncontrolling interest in Big Cedar. Adjusted Diluted EPS, presented herein, is calculated as Adjusted Net Income Attributable to Stockholders, as defined above, divided by diluted weighted average shares outstanding.
Adjusted Net Income, Adjusted Net Income Attributable to Stockholders and Adjusted Diluted EPS are not recognized terms under U.S. GAAP and should not be considered as alternatives to net income (loss) or other measures of financial performance or liquidity derived in accordance with U.S. GAAP. In addition, our definition may not be comparable to similarly titled measures of other companies.
Adjusted Net Income, Adjusted Net Income Attributable to Stockholders and Adjusted Diluted EPS are useful to assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods.
Free Cash Flow and Adjusted Free Cash Flow
Free Cash Flow represents cash from operating activities less non-inventory capital spending.
Adjusted Free Cash Flow represents free cash flow further adjusted to exclude net non-recourse debt activities and other one-time adjustment items including, but not limited to, costs associated with acquisitions.
We consider Free Cash Flow and Adjusted Free Cash Flow to be liquidity measures not recognized under U.S. GAAP that provides useful information to both management and investors about the amount of cash generated by operating activities that can be used for investing and financing activities, including strategic opportunities and debt service. We do not believe these non-GAAP measures to be a representation of how we will use excess cash.
Non-GAAP Measures within Our Segments
Sales revenue represents sales of VOIs, net, and Fee-for-service commissions and brand fees earned from the sale of fee-for-service VOIs. Fee-for-service commissions and brand fees represents sales, marketing, brand and other fees, which corresponds to the applicable line item from our condensed consolidated statements of operations, adjusted by marketing revenue and other fees earned primarily from discounted marketing related packages which encompass a sales tour to prospective owners. Real estate expense represents costs of VOI sales and Sales and marketing expense, net. Sales and marketing expense, net represents sales and marketing expense, which corresponds to the applicable line item from our condensed consolidated statements of operations, adjusted by marketing revenue and other fees earned primarily from discounted marketing related packages which encompass a sales tour to prospective owners. Both fee-for-service commissions and brand fees and sales and marketing expense, net, represent non-GAAP measures. We present these items net because it provides a meaningful measure of our underlying real estate profit related to our primary real estate activities which focus on the sales and costs associated with our VOIs.
Real estate profit represents sales revenue less real estate expense. Real estate margin is calculated as a percentage by dividing real estate profit by sales revenue. We consider real estate profit margin to be an important non-GAAP operating measure because it measures the efficiency of our sales and marketing spending, management of inventory costs, and initiatives intended to improve profitability.
Financing profit represents financing revenue, net of financing expense, both of which correspond to the applicable line items from our condensed consolidated statements of operations. Financing profit margin is calculated as a percentage by dividing financing profit by financing revenue. We consider this to be an important non-GAAP operating measure because it measures the efficiency and profitability of our financing business in connection with our VOI sales.
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Resort and club management profit represents resort and club management revenue, net of resort and club management expense, both of which correspond to the applicable line items from our condensed consolidated statements of operations. Resort and club management profit margin is calculated as a percentage by dividing resort and club management profit by resort and club management revenue. We consider this to be an important non-GAAP operating measure because it measures the efficiency and profitability of our resort and club management business that support our VOI sales business.
Rental and ancillary services profit represents rental and ancillary services revenues, net of rental and ancillary services expenses, both of which correspond to the applicable line items from our condensed consolidated statements of operations. Rental and ancillary services profit margin is calculated as a percentage by dividing rental and ancillary services profit by rental and ancillary services revenue. We consider this to be an important non-GAAP operating measure because it measures our ability to convert available inventory and unoccupied rooms into revenue and profit by transient rentals, as well as profitability of other services, such as food and beverage, retail, spa offerings and other guest services.
Real Estate Metrics
Contract sales represents the total amount of VOI products (fee-for-service, just-in-time, developed, and points-based) under purchase agreements signed during the period where we have received a down payment of at least 10% of the contract price. Contract sales differ from revenues from the Sales of VOIs, net that we report in our condensed consolidated statements of operations due to the requirements for revenue recognition, as well as adjustments for incentives. While we do not record the purchase price of sales of VOI products developed by fee-for-service partners as revenue in our condensed consolidated financial statements, rather recording the commission earned as revenue in accordance with U.S. GAAP, we believe contract sales to be an important operational metric, reflective of the overall volume and pace of sales in our business and believe it provides meaningful comparability of HGV’s results the results of our competitors which may source their VOI products differently. HGV believes that the presentation of contract sales on a combined basis (fee-for-service, just-in-time, developed, and points-based) is most appropriate for the purpose of the operating metric; additional information regarding the split of contract sales, is included in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our most recent Quarterly Report on form 10-Q for the period ended June 30, 2024.
Developed Inventory refers to VOI inventory that is sourced from projects developed by HGV.
Fee-for-Service Inventory refers to VOI inventory HGV sells and manages on behalf of third-party developers.
Just-in-Time Inventory refers to VOI inventory primarily sourced in transactions that are designed to closely correlate the timing of the acquisition with HGV’s sale of that inventory to purchasers.
Points-Based Inventory refers to VOI sales that are backed by physical real estate that is or will be contributed to a trust.
NOG or Net Owner Growth represents the year-over-year change in membership.
Tour flow represents the number of sales presentations given at HGV’s sales centers during the period.
Volume per guest (“VPG”) represents the sales attributable to tours at HGV’s sales locations and is calculated by dividing contract sales, excluding telesales, by tour flow. HGV considers VPG to be an important operating measure because it measures the effectiveness of HGV’s sales process, combining the average transaction price with closing rate.
9

HILTON GRAND VACATIONS INC.
FINANCIAL TABLES
10

T-2
HILTON GRAND VACATIONS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share data)
June 30, 2024December 31, 2023
(unaudited)
ASSETS
Cash and cash equivalents$328 $589 
Restricted cash273 296 
Accounts receivable, net
524 507 
Timeshare financing receivables, net2,976 2,113 
Inventory1,929 1,400 
Property and equipment, net902 758 
Operating lease right-of-use assets, net84 61 
Investments in unconsolidated affiliates78 71 
Goodwill1,933 1,418 
Intangible assets, net1,887 1,158 
Other assets553 314 
TOTAL ASSETS$11,467 $8,685 
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other$1,159 $952 
Advanced deposits224 179 
Debt, net4,885 3,049 
Non-recourse debt, net1,725 1,466 
Operating lease liabilities101 78 
Deferred revenue
321 215 
Deferred income tax liabilities
972 631 
Total liabilities
9,387 6,570 
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none
 issued or outstanding as of June 30, 2024 and December 31, 2023
— — 
Common stock, $0.01 par value; 3,000,000,000 authorized shares,
102,485,583 shares issued and outstanding as of June 30, 2024 and
 105,961,160 shares issued and outstanding as of December 31, 2023
1 1 
Additional paid-in capital1,456 1,504 
Accumulated retained earnings456 593 
Accumulated other comprehensive income5 17 
Total stockholders' equity
1,918 2,115 
Noncontrolling interest
162 — 
Total equity
2,080 2,115 
TOTAL LIABILITIES AND EQUITY
$11,467 $8,685 
11

T-3
HILTON GRAND VACATIONS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in millions, except per share data)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Revenues
Sales of VOIs, net$471 $355 $909 $673 
Sales, marketing, brand and other fees167 173 312 331 
Financing102 76 206 150 
Resort and club management171 133 337 264 
Rental and ancillary services195 173 376 331 
Cost reimbursements129 97 251 192 
Total revenues1,235 1,007 2,391 1,941 
Expenses
Cost of VOI sales65 48 113 98 
Sales and marketing453 336 854 637 
Financing44 24 83 48 
Resort and club management48 44 102 86 
Rental and ancillary services188 154 361 306 
General and administrative58 48 103 90 
Acquisition and integration-related expense48 13 157 30 
Depreciation and amortization68 52 130 103 
License fee expense40 34 75 64 
Impairment expense— 3 2 3 
Cost reimbursements129 97 251 192 
Total operating expenses1,141 853 2,231 1,657 
Interest expense(87)(44)(166)(88)
Equity in earnings from unconsolidated affiliates3 2 8 5 
Other (loss) gain, net
(3)3 (8)4 
Income (loss) before income taxes
7 115 (6)205 
Income tax (expense) benefit
(3)(35)8 (52)
Net income
4 80 2 153 
Net income attributable to noncontrolling interest
2 — 4 — 
Net income (loss) attributable to stockholders
$2 $80 $(2)$153 
Earnings per share attributable to stockholders(1):
Basic$0.02 $0.72 $(0.02)$1.37 
Diluted$0.02 $0.71 $(0.02)$1.35 
(1)Earnings per share is calculated using whole numbers.

12

T-4
HILTON GRAND VACATIONS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating Activities
Net income
$4 $80 $2 $153 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization68 52 130 103 
Amortization of deferred financing costs, acquisition premiums and other38 7 63 14 
Provision for financing receivables losses95 41 159 71 
Impairment expense— 3 2 3 
Other loss (gain), net
3 (3)8 (4)
Share-based compensation18 16 27 26 
Equity in earnings from unconsolidated affiliates(3)(2)(8)(5)
Return on investment in unconsolidated affiliates— 6 — 6 
Net changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable, net(9)18 15 26 
Timeshare financing receivables, net(118)(72)(196)(96)
Inventory(6)34 (31)(67)
Purchases and development of real estate for future conversion to inventory(17)(4)(50)(6)
Other assets91 110 (154)(134)
Accounts payable, accrued expenses and other(33)(52)55 32 
Advanced deposits5 11 5 35 
Deferred revenue(23)(51)86 63 
Net cash provided by operating activities113 194 113 220 
Investing Activities
Acquisitions, net of cash, cash equivalents and restricted cash acquired10 — (1,444)— 
Capital expenditures for property and equipment (excluding inventory)(7)(4)(17)(9)
Software capitalization costs(11)(10)(20)(16)
Other(1)— (1)— 
Net cash used in investing activities(9)(14)(1,482)(25)
Financing Activities
Proceeds from debt25 — 2,085 438 
Proceeds from non-recourse debt615 — 905 175 
Repayment of debt(289)(4)(397)(157)
Repayment of non-recourse debt(415)(215)(1,231)(397)
Payment of debt issuance costs
(12)— (51)— 
Repurchase and retirement of common stock(100)(121)(199)(206)
Payment of withholding taxes on vesting of restricted stock units— — (21)(14)
Proceeds from employee stock plan purchases5 4 5 4 
Proceeds from stock option exercises1 2 7 7 
Other(1)(1)(2)(2)
Net cash (used in) provided by financing activities
(171)(335)1,101 (152)
Effect of changes in exchange rates on cash, cash equivalents & restricted cash(10)(9)(16)(10)
Net (decrease) increase in cash, cash equivalents and restricted cash(77)(164)(284)33 
Cash, cash equivalents and restricted cash, beginning of period678 752 885 555 
Cash, cash equivalents and restricted cash, end of period601 588 601 588 
Less: Restricted cash273 336 273 336 
Cash and cash equivalents$328 $252 $328 $252 
13

T-5
HILTON GRAND VACATIONS INC.
FREE CASH FLOW RECONCILIATION
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net cash provided by operating activities$113 $194 $113 $220 
Capital expenditures for property and equipment(7)(4)(17)(9)
Software capitalization costs(11)(10)(20)(16)
Free Cash Flow$95 $180 $76 $195 
Non-recourse debt activity, net200 (215)(326)(222)
Acquisition and integration-related expense48 13 157 30 
Litigation settlement payment
13 — 63 — 
Other adjustment items(1)
14 9 26 17 
Adjusted Free Cash Flow $370 $(13)$(4)$20 
(1)Includes capitalized acquisition and integration-related costs.

T-6
HILTON GRAND VACATIONS INC.
SEGMENT REVENUE RECONCILIATION
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Revenues:
Real estate sales and financing$740 $604 $1,427 $1,154 
Resort operations and club management386 320 746 622 
Total segment revenues1,126 924 2,173 1,776 
Cost reimbursements129 97 251 192 
Intersegment eliminations(20)(14)(33)(27)
Total revenues$1,235 $1,007 $2,391 $1,941 
14

T-7
HILTON GRAND VACATIONS INC.
SEGMENT EBITDA, ADJUSTED EBITDA TO NET INCOME AND
ADJUSTED EBITDA ATTRIBUTABLE TO STOCKHOLDERS
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net income (loss) attributable to stockholders
$2$80$(2)$153
Net income attributable to noncontrolling interest
2—4—
Net income
4802153
Interest expense874416688
Income tax expense (benefit)335(8)52
Depreciation and amortization6852130103
Interest expense, depreciation and amortization included in equity in earnings from unconsolidated affiliates2131
EBITDA164212293397
Other loss (gain), net
3(3)8(4)
Share-based compensation expense18162726
Acquisition and integration-related expense481315730
Impairment expense—323
Other adjustment items(1)
3375514
Adjusted EBITDA266248542466
Adjusted EBITDA attributable to noncontrolling interest
4—7—
Adjusted EBITDA attributable to stockholders
$262$248$535$466
Segment Adjusted EBITDA:
Real estate sales and financing(2)
$193$189$399$358
Resort operations and club management(2)
152123286232
Adjustments:
Adjusted EBITDA from unconsolidated affiliates53116
License fee expense(40)(34)(75)(64)
General and administrative(3)
(44)(33)(79)(66)
Adjusted EBITDA266248542466
Adjusted EBITDA attributable to noncontrolling interest
4—7—
Adjusted EBITDA attributable to stockholders
$262$248$535$466
Adjusted EBITDA profit margin21.5 %24.6 %22.7 %24.0 %
EBITDA profit margin13.3 %21.1 %12.3 %20.5 %
(1)Includes costs associated with restructuring, one-time charges and other non-cash items. This amount also includes the amortization of premiums and discounts resulting from purchase accounting.
(2)Includes intersegment transactions, share-based compensation, depreciation and other adjustments attributable to the segments.
(3)Excludes segment related share-based compensation, depreciation and other adjustment items.
15

T-8
HILTON GRAND VACATIONS INC.
REAL ESTATE SALES PROFIT DETAIL SCHEDULE
(in millions, except Tour Flow and VPG)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Tour flow226,388162,444400,526292,712
VPG$3,320$3,728$3,441$3,835
Owned contract sales mix80.5 %70.5 %82.1 %68.8 %
Fee-for-service contract sales mix19.5 %29.5 %17.9 %31.2 %
Contract sales$757$612$1,388$1,135
Adjustments:
Fee-for-service sales(1)
(148)(180)(248)(354)
Provision for financing receivables losses(94)(41)(158)(71)
Reportability and other:
Net (deferral) of sales of VOIs under construction(2)
(13)(6)(11)(2)
Fee-for-service sale upgrades, net—7—12
Other(3)
(31)(37)(62)(47)
Sales of VOIs, net$471$355$909$673
Plus:
Fee-for-service commissions and brand fees88111152218
Sales revenue5594661,061891
Cost of VOI sales654811398
Sales and marketing expense, net374274694524
Real estate expense439322807622
Real estate profit$120$144$254$269
Real estate profit margin(4)
21.5 %30.9 %23.9 %30.2 %
Reconciliation of fee-for-service commissions:
Sales, marketing, brand and other fees$167$173$312$331
Less: Marketing revenue and other fees(5)
(79)(62)(160)(113)
Fee-for-service commissions and brand fees$88$111$152$218
Reconciliation of sales and marketing expense:
Sales and marketing expense$453$336$854$637
Less: Marketing revenue and other fees(5)
(79)(62)(160)(113)
Sales and marketing expense, net$374$274$694$524
(1)Represents contract sales from fee-for-service properties on which we earn commissions and brand fees.
(2)Represents the net impact related to deferrals of revenues and direct expenses related to the Sales of VOIs under construction that are recognized when construction is complete.
(3)Includes adjustments for revenue recognition, including amounts in rescission and sales incentives.
(4)Excluding the marketing revenue and other fees adjustment, Real Estate profit margin was 18.8% and 27.3% for the three months ended June 30, 2024 and 2023, respectively. and 20.8% and 26.8%. for the six months ended June 30, 2024, and 2023, respectively.
(5)Includes revenue recognized through our marketing programs for existing owners and prospective first-time buyers and revenue associated with sales incentives, title service and document compliance.
16

T-9
HILTON GRAND VACATIONS INC.
CONTRACT SALES MIX BY TYPE SCHEDULE
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Just-In-Time Contract Sales Mix20.9 %13.6 %22.6 %15.1 %
Fee-For-Service Contract Sales Mix19.5 %29.5 %17.9 %31.2 %
Total Capital-Efficient Contract Sales Mix40.4 %43.1 %40.5 %46.3 %
T-10
HILTON GRAND VACATIONS INC.
FINANCING PROFIT DETAIL SCHEDULE
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Interest income
$116$68$228$138
Other financing revenue14112219
Premium amortization of acquired timeshare financing receivables
(28)(3)(44)(7)
Financing revenue10276206150
Consumer financing interest expense
22114523
Other financing expense20133426
Amortization of acquired non-recourse debt discounts and premiums, net
2—4(1)
Financing expense44248348
Financing profit$58$52$123$102
Financing profit margin56.9 %68.4 %59.7 %68.0 %

17

T-11
HILTON GRAND VACATIONS INC.
RESORT AND CLUB PROFIT DETAIL SCHEDULE
(in millions, except for Members and Net Owner Growth)
Twelve Months Ended June 30,
20242023
Total members720,069522,156
Net Owner Growth (NOG)(1)
8,77614,204
Net Owner Growth % (NOG)(1)
1.7 %2.8 %
(1)NOG is a trailing-twelve-month concept for which the twelve months ended June 30, 2024 and ended June 30, 2023 includes member count for HGV Max and Legacy HGV-DRI members only on a consolidated basis.
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Club management revenue$67$53$130$104
Resort management revenue10480207160
Resort and club management revenues171133337264
Club management expense21154130
Resort management expense27296156
Resort and club management expenses484410286
Resort and club management profit$123$89$235$178
Resort and club management profit margin71.9 %66.9 %69.7 %67.4 %
18

T-12
HILTON GRAND VACATIONS INC.
RENTAL AND ANCILLARY PROFIT DETAIL SCHEDULE
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Rental revenues$181$162$350$309
Ancillary services revenues14112622
Rental and ancillary services revenues195173376331
Rental expenses177144340287
Ancillary services expense11102119
Rental and ancillary services expenses188154361306
Rental and ancillary services profit$7$19$15$25
Rental and ancillary services profit margin3.6 %11.0 %4.0 %7.6 %
19

T-13
HILTON GRAND VACATIONS INC.
REAL ESTATE SALES AND FINANCING SEGMENT ADJUSTED EBITDA
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Sales of VOIs, net$471$355$909$673
Sales, marketing, brand and other fees167173312331
Financing revenue10276206150
Real estate sales and financing segment revenues7406041,4271,154
Cost of VOI sales(65)(48)(113)(98)
Sales and marketing expense(453)(336)(854)(637)
Financing expense(44)(24)(83)(48)
Marketing package stays(20)(14)(33)(27)
Share-based compensation3366
Other adjustment items324498
Real estate sales and financing segment adjusted EBITDA$193$189$399$358
Real estate sales and financing segment adjusted EBITDA profit margin26.1 %31.3 %28.0 %31.0 %
20

T-14
HILTON GRAND VACATIONS INC.
RESORT AND CLUB MANAGEMENT SEGMENT ADJUSTED EBITDA
(in millions)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Resort and club management revenues$171$133$337$264
Rental and ancillary services195173376331
Marketing package stays20143327
Resort and club management segment revenue386320746622
Resort and club management expenses(48)(44)(102)(86)
Rental and ancillary services expenses(188)(154)(361)(306)
Share-based compensation2132
Resort and club segment adjusted EBITDA$152$123$286$232
Resort and club management segment adjusted EBITDA profit margin39.4 %38.4 %38.3 %37.3 %
21


T-15
HILTON GRAND VACATIONS INC.
ADJUSTED NET INCOME ATTRIBUTABLE TO STOCKHOLDERS AND
ADJUSTED DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO STOCKHOLDERS (Non-GAAP)
(in millions except per share data)

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net income (loss) attributable to stockholders$2 $80 $(2)$153 
Net income attributable to noncontrolling interest2 — 4 — 
Net income4 80 2 153 
Income tax expense (benefit)
3 35 (8)52 
Income (loss) before income taxes7 115 (6)205 
Certain items:
Other loss (gain), net
3 (3)8 (4)
Impairment expense— 3 2 3 
Acquisition and integration-related expense48 13 157 30 
Other adjustment items(1)
33 7 55 14 
Adjusted income before income taxes91 135 216 248 
Income tax (expense)
(24)(40)(48)(63)
Adjusted net income67 95 168 185 
Net income attributable to noncontrolling interest2 — 4 — 
Adjusted net income attributable to stockholders$65 $95 $164 $185 
Weighted average shares outstanding
Diluted104.3 112.2 104.3 113.3 
Earnings per share attributable to stockholders(2):
Diluted$0.02$0.71$(0.02)$1.35
Adjusted diluted$0.62$0.85$1.57$1.63
(1)Includes costs associated with restructuring, one-time charges, the amortization of premiums and discounts resulting from purchase accounting and other non-cash items.
(2)Earnings per share amounts are calculated using whole numbers.

22


T-16
HILTON GRAND VACATIONS INC.
RECONCILIATION OF NON-GAAP PROFIT MEASURES TO GAAP MEASURE
(in millions)

Three Months Ended June 30,Six Months Ended June 30,
($ in millions)2024202320242023
Net income (loss) attributable to stockholders
$2 $80 $(2)$153 
Net income attributable to noncontrolling interest
2 — 4 — 
Net income
4 80 2 153 
Interest expense87 44 166 88 
Income tax (benefit) expense
3 35 (8)52 
Depreciation and amortization68 52 130 103 
Interest expense, depreciation and amortization included in equity in earnings from unconsolidated affiliates2 1 3 1 
EBITDA164 212 293 397 
Other loss (gain), net
3 (3)8 (4)
Equity in earnings from unconsolidated affiliates(1)
(5)(3)(11)(6)
Impairment expense
— 3 2 3 
License fee expense40 34 75 64 
Acquisition and integration-related expense48 13 157 30 
General and administrative58 48 103 90 
Profit$308 $304 $627 $574 
Real estate profit$120 $144 $254 $269 
Financing profit58 52 123 102 
Resort and club management profit123 89 235 178 
Rental and ancillary services profit7 19 15 25 
Profit$308 $304 $627 $574 
(1) Excludes impact of interest expense, depreciation and amortization included in equity in earnings from unconsolidated affiliates of $2 million and $3 million, respectively, for the three and six months ended June 30, 2024 and $1 million for both the three and six months ended June 30, 2023.

23
v3.24.2.u1
Cover
Aug. 08, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 08, 2024
Entity Registrant Name Hilton Grand Vacations Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-37794
Entity Tax Identification Number 81-2545345
Entity Address, Address Line One 6355 MetroWest Boulevard
Entity Address, Address Line Two Suite 180
Entity Address, City or Town Orlando
Entity Address, State or Province FL
Entity Address, Postal Zip Code 32835
City Area Code 407
Local Phone Number 613-3100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value per share
Trading Symbol HGV
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001674168
Amendment Flag false
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