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Press Release

Hilton Grand Vacations Reports First Quarter 2021 Results

Lauren George

ORLANDO, Fla. (April 29, 2021) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or “the Company”) today reports its first quarter 2021 results.


First Quarter 2021 Results

  • Contract sales in the first quarter were $139 million.
  • Net Owner Growth (NOG) for the 12 months ended March 31, 2021, was (0.1)%.
  • Total revenues for the first quarter were $235 million compared to $351 million for the same period in 2020.
    • Total revenues were affected by deferrals of $32 million and $47 million in the current period and the same period in 2020, respectively.
  • Net loss for the first quarter was ($7) million compared to $8 million net income for the same period in 2020.
    • Net (loss) income was affected by net deferrals of $18 million and $27 million for the current period and the same period in 2020, respectively.
  • Diluted EPS for the first quarter was ($0.08) compared to $0.09 for the same period in 2020.
    • Diluted EPS was affected by net deferrals of $18 million and $27 million, or $0.21 and $0.31 per share in the current period and the same period in 2020, respectively.
  • Adjusted EBITDA for the first quarter was $42 million compared to $33 million for the same period in 2020.
    • Adjusted EBITDA was affected by net deferrals of $18 million and $27 million in the current period and the same period in 2020, respectively.
  • In addition to the adverse impact from the closure of HGV sales centers and resort operations, the COVID-19 pandemic had the following impacts on total revenues, net loss, diluted EPS and Adjusted EBITDA for the first quarter:
  • $4 million or $0.05 per share benefit from government assistance from Japan and an employee retention credit granted under the CARES Act, primarily related to payments made to employees as a result of operational closures caused by the COVID-19 pandemic.

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Hilton Grand Vacations

Lauren George

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

 

 

Mark Melnyk

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