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Press Release

Hilton Grand Vacations Reports Record Third Quarter 2022 Results

Lauren George

ORLANDO, Fla. (Nov. 9, 2022) – Hilton Grand Vacations Inc. (NYSE: HGV) (“HGV” or “the Company”) today reports its third quarter of 2022 results.

Third quarter highlights1

  • Total contract sales were $621 million.
  • Member count was 515,000. Net Owner Growth (NOG) for the Legacy-HGV business for the 12 months ended Sept. 30, 2022, was 3.8%, and Diamond added over 1,900 net new members in the quarter.
  • Total revenues for the third quarter were $1,116 million compared to $928 million for the same period in 2021.
  • Total revenues were affected by a net recognition of $86 million in the current period compared to a recognition of $241 million in the same period in 2021.
  • Net income for the third quarter was $150 million compared to $99 million net income for the same period in 2021.
  • Net income and adjusted net income were affected by a net recognition of $43 million in the current period compared to a net recognition of $133 million in the same period in 2021.
  • Adjusted EBITDA for the third quarter was $338 million compared to $340 million for the same period in 2021.
  • Adjusted EBITDA was affected by a net recognition of $43 million in the current period compared to a net recognition of $133 million in the same period in 2021.
  • During the quarter, the Company repurchased 2.3 million shares of common stock for $89 million. Through Nov. 9, the Company has repurchased an additional 1.1 million shares for $38 million, and currently has $290 million remaining of the $500 million repurchase plan approved by the Board in May 2022.
  • The Company has achieved a targeted $150 million of run-rate cost synergies in only 14 months following the completion of the Diamond Acquisition versus its initial goal of $125 million within 24 months laid out at acquisition close.

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Hilton Grand Vacations

Lauren George

Senior Director, Corporate Communications
Hilton Grand Vacations
P: 1-407-613-8431 
E: lauren.george@hgv.com

 

 

Mark Melnyk

Senior Vice President, Investor Relations
Hilton Grand Vacations
P: 1-407-613-3327 
E: mark.melnyk@hgv.com