Hilton Grand Vacations Inc.
- Open
- 52.05
- Day high
- 52.77
- Day low
- 51.78
- Prev close
- 52.37
- Volume
- 511K
- Mkt cap
- $4.2B
- P/E (TTM)
- 23.2
- EPS (TTM)
- $2.25
- P/B
- 3.5
- P/S
- 0.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$11.7M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Hilton Grand Vacations Inc. (HGV) is a Consumer Cyclical company listed on NYSE. The stock is up 21% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Hilton Grand Vacations Inc. (HGV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HGV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.44 | $0.99 | +125.0% | $1.3B | +1.0% |
| Feb 26, 2026 | $1.05 | $0.88 | -16.2% | $1.3B | -3.2% |
| Oct 30, 2025 | $1.01 | $0.60 | -40.6% | $1.3B | -5.6% |
| Jul 31, 2025 | $0.78 | $0.54 | -30.8% | $1.3B | -7.5% |
| May 1, 2025 | $0.49 | $0.09 | -81.6% | $1.1B | -17.3% |
| Feb 27, 2025 | $0.89 | $0.49 | -44.9% | $1.3B | +0.2% |
| Nov 7, 2024 | $0.70 | $0.67 | -4.3% | $1.3B | +0.9% |
| Aug 8, 2024 | $0.89 | $0.62 | -30.3% | $1.2B | -5.9% |
| May 9, 2024 | $0.87 | $0.95 | +9.2% | $1.2B | +3.9% |
| Feb 29, 2024 | $0.97 | $1.01 | +4.1% | $1.0B | -0.0% |
| Aug 3, 2023 | $0.79 | $0.71 | -10.1% | $1.0B | -0.1% |
| Apr 27, 2023 | $0.59 | $0.64 | +8.5% | $934M | -7.3% |
HGV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 1, 2026 | Wang Mark Ddirector, officer: See Remarks | Sell | 190,813 | $51.93 |
| Jun 1, 2026 | Wang Mark Ddirector, officer: See Remarks | Option | 190,813 | $28.30 |
| May 26, 2026 | Corbin Charles R. Jr.officer: See Remarks | Sell | 21,502 | $48.00 |
| May 26, 2026 | Corbin Charles R. Jr.officer: See Remarks | Sell | 11,405 | $47.03 |
| May 21, 2026 | Hernandez Carlosofficer: See Remarks | Sell | 5,595 | $46.69 |
| May 18, 2026 | Mathewes Daniel Jasonofficer: See Remarks | Tax | 601 | $44.86 |
| May 8, 2026 | PATSLEY PAMELA Hdirector | Grant | 4,114 | — |
| May 8, 2026 | Lazarus Mark Hdirector | Grant | 4,114 | — |
| May 8, 2026 | Potter Leonarddirector | Grant | 4,114 | — |
| May 8, 2026 | MANDEL GAILdirector | Grant | 4,114 | — |
| May 8, 2026 | WHETSELL PAUL Wdirector | Grant | 4,114 | — |
| May 8, 2026 | Bacon Brenda Jdirector | Grant | 4,114 | — |
| Apr 2, 2026 | Mathewes Daniel Jasonofficer: See Remarks | Tax | 811 | $40.46 |
| Apr 2, 2026 | Tonkin Dustyofficer: See Remarks | Tax | 1,929 | $40.46 |
| Mar 12, 2026 | Corbin Charles R. Jr.officer: See Remarks | Grant | 25,875 | — |
Source: HGV SEC Form 4 filings, latest Jun 1, 2026. For informational purposes only — not investment advice.
See the full HGV insider & 13F page →Hilton Grand Vacations Inc. company profile
Overview
Hilton Grand Vacations Inc. (NYSE:HGV) is a leading timeshare company that develops, markets, sells, and manages vacation ownership resorts primarily under the Hilton Grand Vacations brand. Founded in 1992 and headquartered in Orlando, Florida, the company went public in January 2017 following its spin-off from Hilton Worldwide Holdings. HGV has grown significantly through strategic acquisitions, including Diamond Resorts in 2021 and Bluegreen Resorts in 2024, transforming from a regional player into one of the largest vacation ownership companies in the United States with over 725,000 members and operations spanning 154 properties.
Business
Hilton Grand Vacations operates in the vacation ownership industry, commonly known as timeshares. The timeshare industry allows consumers to purchase the right to use vacation accommodations for a specific period each year, typically one week, rather than buying entire vacation properties outright. This model provides customers with predictable vacation costs and access to high-quality resort accommodations at popular destinations. The company operates through four primary business segments: 1. Real Estate Sales and Financing (~75% of revenue): This segment develops and sells vacation ownership intervals and interests to consumers. The company constructs or acquires resort properties, then divides the usage rights into weekly intervals or points-based ownership interests that customers can purchase. The financing component provides loans to customers to purchase these timeshare interests, as many buyers finance their purchases rather than paying cash upfront. 2. Resort Operations and Club Management (~15% of revenue): This segment manages the day-to-day operations of resort properties and administers the points-based vacation clubs. The company operates the Hilton Grand Vacations Club, Hilton Club, and Diamond Clubs, which provide exchange services, leisure travel booking, and reservation services to approximately 725,000 members. Members can use their points or weeks to book stays at HGV properties or exchange for stays at other affiliated resorts worldwide. 3. Rental and Ancillary Services (~10% of revenue): This segment generates revenue by renting unsold inventory and accommodations that become available when owners don't use their allotted time. The company also provides various ancillary services to resort guests and owners, including food and beverage, retail, and recreational activities. The company's flagship product is HGV Max, a premium membership program that provides enhanced benefits and flexibility to vacation ownership customers, allowing them greater access to the company's resort portfolio and partner properties.
Revenue model
Hilton Grand Vacations generates revenue through multiple interconnected business models centered around vacation ownership sales and ongoing member services. The primary revenue driver is vacation ownership sales, where the company sells timeshare intervals and points-based ownership interests to consumers. Customers typically finance these purchases through HGV's financing arm, creating a dual revenue stream from both the initial sale and ongoing loan servicing. Contract sales have averaged around $700-800 million per quarter, with the company achieving strong margins of approximately 26% on real estate sales. The financing business provides substantial recurring revenue through loan servicing and interest income from customer financing. This segment generates approximately $125-150 million in quarterly revenue with impressive margins of 56-61%, as the company earns interest on the loans it originates while also securitizing portions of the loan portfolio to generate upfront cash. Resort operations and club management create recurring revenue streams through annual maintenance fees paid by owners, club membership fees, and exchange program revenues. This segment produces steady cash flows with margins around 71%, as owners must pay ongoing fees regardless of whether they use their vacation time. The rental business monetizes unused inventory by renting accommodations to non-owners when timeshare owners don't occupy their allotted time, though this segment currently operates at a loss due to high operational costs. Several factors influence the company's margins and profitability. Positive factors include the recurring nature of maintenance fees and financing income, the ability to increase prices during strong leisure travel demand, operational synergies from acquisitions like Diamond Resorts and Bluegreen, and the premium pricing power of the Hilton brand. Negative factors include sensitivity to consumer discretionary spending during economic downturns, rising property insurance and maintenance costs, potential increases in loan defaults during economic stress, and the cyclical nature of leisure travel demand. The company's margins are also affected by the mix between new buyer sales (which require higher marketing costs) versus existing owner upgrades (which are more profitable).
Competitive moat
Hilton Grand Vacations possesses a moderate competitive moat built primarily around brand strength, customer lock-in effects, and operational scale, though the moat faces meaningful competitive pressures and cyclical vulnerabilities. The company's strongest moat element is customer stickiness inherent in the timeshare model. Once customers purchase vacation ownership interests, they become locked into long-term relationships through annual maintenance fee obligations and the substantial upfront investment they've made. This creates high switching costs and generates predictable recurring revenue streams. The company benefits from approximately 50% recurring revenue through maintenance fees and financing income, providing stability during economic downturns. Brand affiliation with Hilton provides meaningful competitive advantages, including access to Hilton's 118 million loyalty program members for marketing purposes, operational expertise in hospitality management, and consumer trust in a recognized hospitality brand. This brand strength helps HGV command premium pricing compared to independent timeshare operators. The company has achieved operational scale advantages through strategic acquisitions, now managing over 725,000 members across 154 properties. This scale enables cost synergies, shared infrastructure investments, and negotiating power with vendors and partners. Recent acquisitions of Diamond Resorts and Bluegreen have generated substantial cost synergies exceeding $150 million annually. However, the moat faces significant challenges. The timeshare industry suffers from poor consumer perception due to aggressive sales tactics and customer satisfaction issues, making customer acquisition expensive and limiting organic growth. Regulatory scrutiny continues to increase, with potential restrictions on sales practices and financing terms. The business model is highly cyclical, with new sales heavily dependent on consumer discretionary spending and leisure travel demand. Competitive threats include other large timeshare operators like Marriott Vacations Worldwide and Wyndham Destinations, vacation rental platforms like Airbnb that offer more flexibility, and alternative vacation ownership models. The company also faces potential disruption from changing consumer preferences toward experience-based travel rather than fixed-location ownership. Overall, while HGV has built meaningful competitive advantages through scale and brand strength, the moat is not particularly wide given industry headwinds and the cyclical nature of the business.
Risks & safety
The margin of safety appears moderate to weak given high leverage, cyclical earnings, and current valuation metrics. Liquidity and Solvency: - Cash position of $259 million with current ratio of 1.58x provides adequate short-term liquidity - High debt-to-equity ratio of 4.01x indicates significant leverage risk - Negative free cash flow of $6 million in Q1 2025 raises concerns about cash generation - EBITDA of $733 million annually provides reasonable debt service coverage Valuation Metrics: - EV/EBITDA of 6.0x appears reasonable for the industry but reflects cyclical peak earnings - Price-to-book ratio of 2.26x suggests limited asset protection - Current price of $36.77 down from recent highs indicates market concerns - Graham net-net value deeply negative at -$87.63, indicating no asset-based margin of safety Other Considerations: - Cyclical industry with high sensitivity to consumer discretionary spending - Recent negative net income despite positive EBITDA indicates earnings quality concerns - High dependence on continuous new customer acquisition for growth - Regulatory risks in timeshare industry could impact future profitability
Recent development
Over the past few years, Hilton Grand Vacations has executed a transformational growth strategy centered on strategic acquisitions and operational integration. The company completed two major acquisitions that fundamentally expanded its scale and market presence. In 2021, HGV acquired Diamond Resorts, which significantly expanded the company's footprint and member base. The integration has been highly successful, with the company achieving over $150 million in annual cost synergies ahead of schedule. The company rebranded Diamond properties to Hilton Vacation Club and successfully integrated operations while maintaining member satisfaction. In early 2024, HGV completed the acquisition of Bluegreen Resorts, adding nearly 200,000 members and further expanding the company's geographic reach. The Bluegreen integration is progressing well, with the company targeting $100 million in cost synergies within two years and already achieving significant progress toward this goal. A key strategic initiative has been the launch and expansion of HGV Max, the company's premium membership program that provides enhanced benefits and flexibility to vacation ownership customers. The program has grown to over 215,000 members and is being rolled out to Bluegreen customers, representing a significant opportunity to increase member engagement and spending. The company has also pursued geographic and market expansion, growing from 4 core markets to 44 regional markets. This expansion includes new partnerships with brands like Bass Pro Shops and Choice Hotels, providing access to new customer segments and distribution channels. Operational improvements have focused on enhancing sales effectiveness through better lead generation, improved tour qualification models, and more flexible financing options. The company has reorganized its sales and marketing structure to better serve the expanded geographic footprint and diverse customer base. Recent initiatives include a financing optimization program designed to increase nonrecourse borrowing from 55% to 70-80%, which will unlock approximately $700 million in additional cash flow for capital returns and growth investments.
HGV company profile · for informational purposes only — not investment advice.
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