Hilton Grand Vacations (HGV)
Market Price (9/21/2026): $35.71 | Market Cap: $2.8 BilSector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines
Hilton Grand Vacations (HGV)
Market Price (9/21/2026): $35.71Market Cap: $2.8 BilSector: Consumer DiscretionaryIndustry: Hotels, Resorts & Cruise Lines
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 12% Stock buyback supportStock Buyback 3Y Total is 1.5 Bil Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. | Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -85% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 269% Key risksHGV key risks include [1] a substantial debt burden that increases its vulnerability to rising consumer loan delinquencies and [2] significant financial and reputational exposure to fraudulent third-party timeshare resale activities. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 12% |
| Stock buyback supportStock Buyback 3Y Total is 1.5 Bil |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. |
| Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -85% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 269% |
| Key risksHGV key risks include [1] a substantial debt burden that increases its vulnerability to rising consumer loan delinquencies and [2] significant financial and reputational exposure to fraudulent third-party timeshare resale activities. |
Qualitative Assessment
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Hilton Grand Vacations (HGV) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Hilton Grand Vacations reported a significant earnings and revenue miss for fiscal Q2 2026, alongside declining contract sales.
On July 30, 2026, the company announced adjusted diluted earnings per share (EPS) of $0.89, falling short of the consensus estimate of $0.94 by $0.05. Total revenues for fiscal Q2 2026 were $1.358 billion, below the $1.38 billion consensus estimate. This directly led to an 11.8% decline in HGV shares to $45.35 on the day of the announcement. The company also reported a 3% decrease in total contract sales, attributed partially to operational challenges at some Bluegreen locations.
2. Substantial insider selling activity by key executives and major shareholders indicated a potential lack of confidence.
During the period, two significant insider transactions exceeding the $5 million threshold occurred. Mark D. Wang, a director and officer, sold approximately $9.92 million worth of shares on May 28, 2026, at a weighted average price of $51.93 per share. Additionally, Apollo Principal Holdings A Gp, Ltd, a 10% owner, sold $37.5 million worth of shares on June 22, 2026, at a price of $50.00 per share.
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Hilton Grand Vacations (HGV) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Hilton Grand Vacations reported a significant earnings and revenue miss for fiscal Q2 2026, alongside declining contract sales.
On July 30, 2026, the company announced adjusted diluted earnings per share (EPS) of $0.89, falling short of the consensus estimate of $0.94 by $0.05. Total revenues for fiscal Q2 2026 were $1.358 billion, below the $1.38 billion consensus estimate. This directly led to an 11.8% decline in HGV shares to $45.35 on the day of the announcement. The company also reported a 3% decrease in total contract sales, attributed partially to operational challenges at some Bluegreen locations.
2. Substantial insider selling activity by key executives and major shareholders indicated a potential lack of confidence.
During the period, two significant insider transactions exceeding the $5 million threshold occurred. Mark D. Wang, a director and officer, sold approximately $9.92 million worth of shares on May 28, 2026, at a weighted average price of $51.93 per share. Additionally, Apollo Principal Holdings A Gp, Ltd, a 10% owner, sold $37.5 million worth of shares on June 22, 2026, at a price of $50.00 per share.
3. Analyst ratings and price targets were downgraded following the fiscal Q2 2026 results, shifting overall sentiment.
Following the disappointing Q2 2026 earnings, analyst firms adjusted their outlooks. For instance, The Goldman Sachs Group reduced its price objective for HGV from $55.00 to $47.00 and changed its rating to "neutral" on July 31, 2026. The consensus EPS estimate for fiscal year 2026 also saw a reduction, falling from $5.09 to $4.55 per share. By late August 2026, the stock had a consensus "Hold" rating from analysts.
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Stock Movement Drivers
Fundamental Drivers
The -31.6% change in HGV stock from 5/31/2026 to 9/20/2026 was primarily driven by a -28.1% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.02 | 35.59 | -31.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,184 | 5,276 | 1.8% |
| Net Income Margin (%) | 3.2% | 2.9% | -9.5% |
| P/E Multiple | 26.0 | 18.7 | -28.1% |
| Shares Outstanding (Mil) | 82 | 79 | 3.3% |
| Cumulative Contribution | -31.6% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| HGV | -31.6% | |
| Market (SPY) | 0.9% | 2.4% |
| Sector (XLY) | -8.1% | 23.5% |
Fundamental Drivers
The -20.8% change in HGV stock from 2/28/2026 to 9/20/2026 was primarily driven by a -60.3% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.96 | 35.59 | -20.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,047 | 5,276 | 4.5% |
| Net Income Margin (%) | 1.6% | 2.9% | 78.3% |
| P/E Multiple | 47.1 | 18.7 | -60.3% |
| Shares Outstanding (Mil) | 85 | 79 | 6.9% |
| Cumulative Contribution | -20.8% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| HGV | -20.8% | |
| Market (SPY) | 11.6% | 30.6% |
| Sector (XLY) | -4.8% | 44.3% |
Fundamental Drivers
The -25.1% change in HGV stock from 8/31/2025 to 9/20/2026 was primarily driven by a -75.4% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 47.52 | 35.59 | -25.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,004 | 5,276 | 5.4% |
| Net Income Margin (%) | 1.1% | 2.9% | 151.3% |
| P/E Multiple | 76.0 | 18.7 | -75.4% |
| Shares Outstanding (Mil) | 91 | 79 | 15.0% |
| Cumulative Contribution | -25.1% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| HGV | -25.1% | |
| Market (SPY) | 19.4% | 37.2% |
| Sector (XLY) | -3.6% | 48.4% |
Fundamental Drivers
The -18.6% change in HGV stock from 8/31/2023 to 9/20/2026 was primarily driven by a -69.6% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.72 | 35.59 | -18.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,049 | 5,276 | 30.3% |
| Net Income Margin (%) | 9.4% | 2.9% | -69.6% |
| P/E Multiple | 12.7 | 18.7 | 46.9% |
| Shares Outstanding (Mil) | 111 | 79 | 39.8% |
| Cumulative Contribution | -18.6% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| HGV | -18.6% | |
| Market (SPY) | 75.6% | 50.3% |
| Sector (XLY) | 33.0% | 55.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HGV Return | 66% | -26% | 4% | -3% | 15% | -17% | 19% |
| Peers Return | 29% | -17% | 24% | 25% | 9% | 18% | 114% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| HGV Win Rate | 58% | 50% | 42% | 50% | 67% | 44% | |
| Peers Win Rate | 52% | 43% | 50% | 62% | 60% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| HGV Max Drawdown | -20% | -39% | -33% | -30% | -28% | -32% | |
| Peers Max Drawdown | -22% | -35% | -25% | -21% | -35% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VAC, TNL, MAR, HLT, H.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | HGV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.9% | -18.8% |
| % Gain to Breakeven | 34.9% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.4% | -7.8% |
| % Gain to Breakeven | 18.2% | 8.5% |
| Time to Breakeven | 86 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.1% | -9.5% |
| % Gain to Breakeven | 39.1% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.1% | -6.7% |
| % Gain to Breakeven | 15.1% | 7.1% |
| Time to Breakeven | 35 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.1% | -24.5% |
| % Gain to Breakeven | 59.1% | 32.4% |
| Time to Breakeven | 1340 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.1% | -33.7% |
| % Gain to Breakeven | 203.7% | 50.9% |
| Time to Breakeven | 294 days | 140 days |
In The Past
Hilton Grand Vacations's stock fell -25.9% during the 2025 US Tariff Shock. Such a loss loss requires a 34.9% gain to breakeven.
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Asset Allocation
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| Event | HGV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.9% | -18.8% |
| % Gain to Breakeven | 34.9% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.1% | -9.5% |
| % Gain to Breakeven | 39.1% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.1% | -24.5% |
| % Gain to Breakeven | 59.1% | 32.4% |
| Time to Breakeven | 1340 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.1% | -33.7% |
| % Gain to Breakeven | 203.7% | 50.9% |
| Time to Breakeven | 294 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.0% | -19.2% |
| % Gain to Breakeven | 31.7% | 23.8% |
| Time to Breakeven | 59 days | 105 days |
In The Past
Hilton Grand Vacations's stock fell -25.9% during the 2025 US Tariff Shock. Such a loss loss requires a 34.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hilton Grand Vacations (HGV)
Hilton Grand Vacations (HGV) is a prominent timeshare company specializing in the development, marketing, sales, and management of vacation ownership resorts, primarily under its namesake brand. The company's core business revolves around enabling individuals to purchase vacation ownership interests, commonly known as timeshares, which provide access to a portfolio of resort properties for recurring vacation experiences.
HGV operates through two main segments. The Real Estate Sales and Financing segment is responsible for the sale of these vacation ownership intervals and provides financing for customer purchases. The Resort Operations and Club Management segment manages the company's network of resorts and oversees several points-based vacation clubs, including the Hilton Grand Vacations Club, Hilton Club, and Diamond Clubs. These clubs offer exchange, leisure travel, and reservation services to a large membership base, totaling approximately 333,000 members. As of late 2021, HGV managed 154 properties located across the United States, catering to individuals seeking structured vacation ownership and associated club benefits.
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- NetJets for luxury vacation properties.
- Soho House for Hilton vacation properties.
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- Vacation Ownership Interests (Timeshares): The sale of fractional ownership intervals in vacation properties.
- Timeshare Loan Financing: Providing financing and servicing loans for customers purchasing vacation ownership interests.
- Resort and Club Management: Managing the operations of vacation ownership resorts and points-based vacation clubs.
- Club Membership Services: Offering exchange, leisure travel, and reservation services through its various vacation club programs.
- Vacation Property Rentals: Renting out available inventory from its resort properties and club exchange programs.
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Hilton Grand Vacations (HGV) primarily sells its vacation ownership interests and services directly to individual consumers, rather than to other companies. Based on the company description, its major customer categories can be described as:
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Individuals Acquiring New Vacation Ownership Interests: This category includes individual consumers and families who are purchasing timeshare intervals, points, or other vacation ownership interests directly from Hilton Grand Vacations for the first time, or those who are expanding their current ownership portfolio with HGV.
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Existing Members of HGV's Vacation Clubs: This comprises the approximately 333,000 individuals who are already members of the Hilton Grand Vacations Club, Hilton Club exchange programs, and Diamond Clubs. These members pay annual fees, utilize club services like exchanges, leisure travel, and reservation services, and may also be customers for upgrades or additional vacation ownership purchases.
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Hilton Worldwide Holdings Inc. (HLT)
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Mark Wang, Chief Executive Officer
Mark Wang serves as Hilton Grand Vacations' (HGV) Chief Executive Officer and is a member of its Board of Directors. He joined Hilton in 1999 and held various senior management positions before being appointed President in March 2008. During his time as President of HGV, he also served on Hilton's executive committee as Executive Vice President and held a dual role as President of Global Sales for the hotel division from 2013 to 2014. Prior to joining HGV, Mr. Wang co-founded three independent timeshare companies, where he served as President and COO of each. He is recognized for introducing the U.S. timeshare product to the Japanese market in 1987.
Daniel J. Mathewes, President and Chief Financial Officer
Daniel J. Mathewes serves as Hilton Grand Vacations' (HGV) President and Chief Financial Officer, a role he assumed in 2024 after joining the company as CFO in 2018. Before his tenure at HGV, Mr. Mathewes held CFO positions at Virgin Hotels North America and The World (Residences at Sea). His career also includes senior finance roles at Kerzner (Atlantis/One&Only), Norwegian Cruise Line, and Royal Caribbean, and he began his professional journey at PwC.
Gordon Gurnik, Senior Executive Vice President, Chief Operating Officer
Gordon Gurnik joined Hilton Grand Vacations (HGV) in 2018 as Senior Executive Vice President, Chief Operating Officer. He is responsible for leading Resort Operations, Club, Rental and Yield Management, as well as Corporate Marketing. With over 30 years of experience in the timeshare industry, Mr. Gurnik previously served as President of RCI, a global leader in vacation exchange and travel services, where he was instrumental in advancing the company's strategic direction, operations, and growth for over 3.8 million member families and 4,300 vacation ownership resorts.
Charles R. Corbin, Executive Vice President, Chief Legal Officer, and General Counsel
Charles R. Corbin serves as Hilton Grand Vacations' (HGV) Executive Vice President, Chief Legal Officer, and General Counsel. He also holds the position of Secretary for the company.
Derek De Salvia, Executive Vice President & Chief Customer Officer
Derek De Salvia is the Executive Vice President & Chief Customer Officer at Hilton Grand Vacations (HGV). In this role, he is responsible for Club Service, Inventory Management, Resort Operations, Customer Enablement, and Brand Standard functions. Prior to joining HGV in 2019, he served as Senior Vice President of Sales Operations & Business Development at HGV and also held the position of Vice President of Sales at Disney Vacation Club.
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The key risks to Hilton Grand Vacations (HGV) primarily stem from its reliance on consumer discretionary spending, the evolving nature of the timeshare industry, and the financial and operational challenges associated with its debt and recent acquisitions.
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Macroeconomic Pressures and Impact on Consumer Discretionary Spending: Hilton Grand Vacations' business is highly sensitive to overall economic conditions, including economic downturns, inflation, and rising interest rates. These factors can significantly reduce consumer discretionary income, impacting the demand for timeshare products and leading to lower sales and reduced average transaction values. Furthermore, HGV's business model involves financing customer purchases, making it vulnerable to rising loan delinquencies and higher default rates on its timeshare financing receivables, which could adversely affect its securitization programs.
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Evolving Consumer Preferences and Competition: The long-term viability of the traditional timeshare model faces challenges from evolving consumer preferences and increasing competition from flexible, on-demand vacation options such as short-term rentals, hotels, and other alternative travel clubs. Many consumers perceive timeshares as poor investments due to factors like rapidly increasing maintenance fees, the difficulty of exiting contracts, and low resale values, which can deter potential buyers and impact HGV's market share and profitability.
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High Debt Levels and Acquisition Integration Risks: Hilton Grand Vacations carries a significant debt load, which is typical for the timeshare industry but exposes the company to interest rate risks that could increase its debt service obligations. Additionally, the company has undertaken substantial acquisitions, such as Diamond Resorts and Bluegreen Vacations. The complex process of integrating these acquired operations is taking longer than initially anticipated, creating execution risks and potentially incurring substantial costs and expenses beyond what was foreseen. Failure to successfully integrate these businesses could hinder the realization of anticipated cost savings, synergies, and growth benefits.
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Hilton Grand Vacations (HGV) is anticipated to experience future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends:
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Growth in Vacation Ownership Interval (VOI) Sales: The sale of vacation ownership intervals remains the primary revenue component and a key growth driver for Hilton Grand Vacations. The company reported a 9% year-over-year increase in sales of VOIs in Q4 2025 and expects low single-digit contract sales growth for the full year 2026. This growth is supported by increased tour flow and a focus on acquiring new buyers.
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Expansion and Enhanced Engagement of HGV Max Membership: The HGV Max membership program is a significant contributor to revenue growth. It has surpassed expectations, leading to a more than 20% increase in the lifetime value of Max members compared to non-Max members. Management expects to sustain this momentum through new member growth and owner upgrades, further enhancing the value proposition of the program.
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Strategic Acquisitions and Realized Synergies: The successful integration of acquisitions, such as Bluegreen Vacations (completed in January 2024), has led to $100 million in cost synergies, achieved ahead of schedule. These integrations expand the company's member base and market presence, creating opportunities for increased VOI sales and club management fees from a larger customer pool.
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Evolving Product Offerings and Increased Lead Generation: Hilton Grand Vacations is investing in expanding its lead generation capabilities and continuously evolving its product offerings to strengthen its value proposition. This includes introducing new benefits and developing properties that cater to shifting consumer preferences, such as the reported strong growth at its American Place property. There is also a favorable market trend where wealthy individuals are increasingly spending on experiences and services, which benefits the timeshare industry.
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Share Repurchases
- Hilton Grand Vacations repurchased $600 million of shares in 2025.
- In the fourth quarter of 2025, the company repurchased 3.5 million shares of common stock for $150 million.
- As of February 19, 2026, the company had $339 million remaining under its 2025 share repurchase program. A new program authorizing up to $600 million over two years was approved on July 29, 2025.
Share Issuance
- In August 2025, there was a secondary public offering of 7,000,000 shares of the Company's common stock held by certain entities managed by affiliates of Apollo Global Management, Inc.; Hilton Grand Vacations did not sell any shares and did not receive any proceeds from this offering.
Outbound Investments
- On January 17, 2024, HGV completed the all-cash acquisition of Bluegreen Vacations Holding Corporation for $1.6 billion.
Capital Expenditures
- Total VOI inventory spending was $369 million for the full year 2025.
- Total VOI inventory spending was $445 million for the full year 2024.
- Capital expenditures primarily focus on technology, buildings, and leasehold improvements to support sales and marketing locations, resort operations, and corporate activities, along with renovations of existing assets to maintain competitiveness.
Peer Outperformance in Hotels, Resorts & Cruise Lines
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| HGV | Hilton Grand Vacations | 9.3% | 18.7x | -20.1% | -11.3% | -21.1% | — |
| MAR | Marriott International | 5.5% | 34.6x | 27.3% | 78.6% | 148.9% | +170pp |
| HLT | Hilton Worldwide | 8.6% | 43.8x | 14.0% | 108.5% | 142.5% | +164pp |
| EXPE | Expedia | 8.6% | 16.5x | 26.5% | 177.8% | 85.2% | +106pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -17.9% | 77.7% | 73.5% | LINC 317% · PRDO 233% · CVSA 232% |
| Homebuilding | 18 | -12.1% | 31.0% | 49.1% | GRBK 198% · PHM 161% · TOL 134% |
| Specialty Stores | 7 | 2.1% | 42.3% | 10.5% | SIG 35% · FIVE 26% · ASO 18% |
| Home Improvement Retail | 5 | -25.9% | -3.0% | 1.9% | HVT 14% · LOW 3% · HD 2% |
| Hotels, Resorts & Cruise Lines ← | 22 | 11.4% | 46.9% | 1.2% | RCL 207% · MAR 149% · HLT 143% |
| Automotive Retail | 18 | -20.6% | -2.8% | 0.9% | MUSA 237% · PAG 149% · ORLY 109% |
| Distributors | 4 | -12.0% | -25.6% | -11.8% | ARMK 162% · GPC 22% · LKQ -46% |
| Home Furnishings | 4 | -6.3% | 21.5% | -13.8% | SGI 38% · LZB 2% · MHK -30% |
| Specialized Consumer Services | 10 | -16.9% | 17.6% | -18.3% | HRB 109% · FTDR 76% · SCI 39% |
| Footwear | 9 | 52.2% | 45.9% | -19.8% | WEYS 161% · SHOO 16% · DECK 11% |
| Restaurants | 35 | -15.0% | -17.9% | -20.2% | EAT 308% · CAKE 151% · RAVE 146% |
| Leisure Products | 13 | -24.9% | -21.7% | -34.7% | GOLF 74% · HAS 15% · MCFT -17% |
| Leisure Facilities | 11 | -0.2% | 0.1% | -37.1% | OSW 130% · JAKK 121% · ESCA 29% |
| Apparel, Accessories & Luxury Goods | 27 | -13.2% | 2.9% | -37.2% | TPR 240% · RL 236% · ELA 204% |
| Automotive Parts & Equipment | 38 | -15.3% | -15.4% | -40.0% | MOD 1623% · GTX 304% · STRT 87% |
| Casinos & Gaming | 20 | -13.6% | -28.3% | -41.9% | MCRI 114% · RRR 37% · BYD 27% |
| Household Appliances | 18 | -7.0% | 12.7% | -43.4% | FLXS 170% · KEQU 159% · HBB 132% |
| Apparel Retail | 25 | -8.9% | 10.2% | -44.4% | ANF 260% · URBN 134% · ROST 110% |
| Computer & Electronics Retail | 3 | -13.2% | 33.0% | -52.3% | BBY 10% · GME -52% · UPBD -63% |
| Broadline Retail | 15 | -1.2% | 14.3% | -56.8% | DDS 310% · EBAY 69% · AMZN 52% |
| Automobile Manufacturers | 8 | -78.7% | -51.2% | -71.9% | GM 74% · TSLA 48% · F 41% |
| Consumer Electronics | 11 | -14.1% | -17.2% | -75.4% | AXIL 2829% · GRMN 83% · MSN -57% |
| Other Specialty Retail | 18 | -37.2% | -46.6% | -78.4% | TLF 114% · BBW 72% · WINA 57% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 129.03 |
| Mkt Cap | 9.3 |
| Rev LTM | 6,214 |
| Op Inc LTM | 660 |
| FCF LTM | 392 |
| FCF 3Y Avg | 392 |
| CFO LTM | 504 |
| CFO 3Y Avg | 532 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 4.6% |
| Rev Chg Q | 5.4% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | 7.0% |
| Op Inc Chg 3Y Avg | 0.6% |
| Op Mgn LTM | 14.1% |
| Op Mgn 3Y Avg | 15.2% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 11.0% |
| CFO/Rev 3Y Avg | 10.0% |
| FCF/Rev LTM | 8.6% |
| FCF/Rev 3Y Avg | 7.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.3 |
| P/S | 1.5 |
| P/Op Inc | 13.9 |
| P/EBIT | 13.7 |
| P/E | 26.6 |
| P/CFO | 24.4 |
| Total Yield | 3.1% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.9 |
| Net D/E | 0.8 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Real estate sales and financing | 2,989 | 3,010 | 2,357 | 2,378 | 1,451 |
| Resort operations and club management | 1,625 | 1,528 | 1,291 | 1,197 | 700 |
| Cost reimbursements | 534 | 516 | 386 | 297 | 202 |
| Intersegment eliminations | -101 | -73 | -56 | -37 | -18 |
| Total | 5,047 | 4,981 | 3,978 | 3,835 | 2,335 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Real estate sales and financing | 802 | 754 | 865 | 537 | 33 |
| Resort operations and club management | 604 | 504 | 463 | 353 | 136 |
| Other adjustment items | -71 | -29 | -53 | -35 | -17 |
| License fee expense | -171 | -138 | -124 | -80 | -51 |
| General and administrative | -199 | -194 | -212 | -151 | -92 |
| Depreciation and amortization | -268 | -213 | -244 | -126 | -45 |
| Total | 697 | 684 | 695 | 498 | -36 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Real estate sales and financing | 7,807 | 7,349 | 6,559 | 5,755 | 5,544 |
| Resort operations and club management | 3,140 | 3,163 | 1,735 | 1,986 | 2,145 |
| Corporate | 590 | 930 | 391 | 263 | 278 |
| Land and infrastructure held for sale | 41 | ||||
| Total | 11,537 | 11,442 | 8,685 | 8,004 | 8,008 |
Price Behavior
| Market Price | $35.59 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 12/13/2016 | |
| Distance from 52W High | -34.9% | |
| 50 Days | 200 Days | |
| DMA Price | $44.94 | $46.03 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -20.8% | -22.7% |
| 3M | 1YR | |
| Volatility | 42.5% | 39.8% |
| Downside Capture | 242.71 | 149.24 |
| Upside Capture | 9.33 | 97.51 |
| Correlation (SPY) | 5.7% | 37.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.66 | 0.12 | -0.13 | 0.91 | 1.13 | 1.28 |
| Up Beta | -0.86 | -3.38 | -1.40 | 0.95 | 1.13 | 1.35 |
| Down Beta | 0.10 | 1.06 | -0.45 | 0.61 | 1.04 | 1.20 |
| Up Capture | 65% | 37% | -4% | 75% | 93% | 139% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 19 | 31 | 64 | 128 | 365 |
| Down Capture | 324% | 227% | 99% | 116% | 123% | 108% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 22 | 32 | 61 | 120 | 379 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HGV | |
|---|---|---|---|---|
| HGV | -20.5% | 39.7% | -0.49 | - |
| Sector ETF (XLY) | -7.6% | 19.5% | -0.53 | 47.9% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 37.1% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 1.0% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -35.1% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 40.7% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 13.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HGV | |
|---|---|---|---|---|
| HGV | -4.5% | 39.1% | -0.02 | - |
| Sector ETF (XLY) | 4.8% | 24.1% | 0.16 | 60.1% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 56.9% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 1.4% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 4.6% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 48.8% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 26.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HGV | |
|---|---|---|---|---|
| HGV | 4.1% | 42.7% | 0.24 | - |
| Sector ETF (XLY) | 11.8% | 22.2% | 0.49 | 60.2% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 59.3% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 0.9% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 18.5% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 53.3% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 18.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -9.9% | -8.4% | -14.8% |
| 4/30/2026 | 8.2% | 12.0% | 19.9% |
| 2/26/2026 | -3.5% | -8.1% | -17.0% |
| 10/30/2025 | -6.7% | -6.4% | -4.1% |
| 7/31/2025 | -11.7% | -12.6% | -6.0% |
| 5/1/2025 | 9.3% | 13.1% | 13.5% |
| 2/27/2025 | 4.9% | 3.1% | -6.5% |
| 11/7/2024 | 3.5% | 8.8% | 4.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 10 |
| # Negative | 15 | 13 | 14 |
| Median Positive | 4.9% | 4.6% | 7.1% |
| Median Negative | -4.9% | -6.4% | -6.2% |
| Max Positive | 9.3% | 13.2% | 37.8% |
| Max Negative | -11.7% | -15.0% | -17.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -9.9% | -8.4% | -14.8% |
| 4/30/2026 | 8.2% | 12.0% | 19.9% |
| 2/26/2026 | -3.5% | -8.1% | -17.0% |
| 10/30/2025 | -6.7% | -6.4% | -4.1% |
| 7/31/2025 | -11.7% | -12.6% | -6.0% |
| 5/1/2025 | 9.3% | 13.1% | 13.5% |
| 2/27/2025 | 4.9% | 3.1% | -6.5% |
| 11/7/2024 | 3.5% | 8.8% | 4.1% |
| 8/8/2024 | -7.8% | -8.4% | -5.3% |
| 5/9/2024 | -0.6% | -0.7% | -6.8% |
| 2/29/2024 | -7.7% | -5.3% | -2.9% |
| 11/6/2023 | -8.1% | -9.7% | -2.8% |
| 8/3/2023 | -3.4% | 2.7% | -4.4% |
| 4/27/2023 | -2.3% | -3.2% | 2.6% |
| 3/1/2023 | -0.4% | 2.9% | -10.1% |
| 11/9/2022 | 7.1% | 13.2% | 10.2% |
| 8/9/2022 | -2.7% | 4.6% | -7.0% |
| 5/9/2022 | -4.9% | 1.5% | 10.4% |
| 3/1/2022 | -4.9% | -15.0% | 3.1% |
| 11/9/2021 | -4.5% | -4.1% | -4.8% |
| 7/29/2021 | 1.0% | -1.6% | 1.6% |
| 4/29/2021 | 0.7% | -0.3% | 3.3% |
| 3/1/2021 | 5.9% | 2.6% | -6.4% |
| 10/29/2020 | 1.1% | 8.1% | 37.8% |
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 10 |
| # Negative | 15 | 13 | 14 |
| Median Positive | 4.9% | 4.6% | 7.1% |
| Median Negative | -4.9% | -6.4% | -6.2% |
| Max Positive | 9.3% | 13.2% | 37.8% |
| Max Negative | -11.7% | -15.0% | -17.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 1.23 Bil | 1.25 Bil | 1.26 Bil | 0 | Affirmed | Guidance: 1.25 Bil for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 1.23 Bil | 1.25 Bil | 1.26 Bil | 3.3% | Raised | Guidance: 1.21 Bil for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA attributable to stockholders | Reported | 1.19 Bil | 1.21 Bil | 1.23 Bil | 5.2% | Higher New | Guidance: 1.15 Bil for 2025 | |
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Adjusted EBITDA | Reported | 1.12 Bil | 1.15 Bil | 1.17 Bil | 0 | Affirmed | Guidance: 1.15 Bil for 2025 | |
Insider Activity
Updated 8/7/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Corbin, Charles R JR | See Remarks | Direct | Sell | 8072026 | 46.90 | 20,691 | 970,408 | 2,247,636 | Form |
| 2 | Wang, Mark D | See Remarks | Direct | Sell | 6012026 | 51.93 | 190,813 | 9,908,919 | 46,957,235 | Form |
| 3 | Corbin, Charles R JR | See Remarks | Direct | Sell | 5262026 | 47.66 | 32,907 | 1,568,473 | 3,270,453 | Form |
| 4 | Hernandez, Carlos | See Remarks | Direct | Sell | 5212026 | 46.69 | 5,595 | 261,203 | 657,325 | Form |
| 5 | Hernandez, Carlos | See Remarks | Direct | Sell | 11102025 | 39.99 | 2,867 | 114,651 | 453,087 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Corbin, Charles R JR | See Remarks | Direct | Sell | 8072026 | 46.90 | 20,691 | 970,408 | 2,247,636 | Form |
| 2 | Wang, Mark D | See Remarks | Direct | Sell | 6012026 | 51.93 | 190,813 | 9,908,919 | 46,957,235 | Form |
| 3 | Corbin, Charles R JR | See Remarks | Direct | Sell | 5262026 | 47.66 | 32,907 | 1,568,473 | 3,270,453 | Form |
| 4 | Hernandez, Carlos | See Remarks | Direct | Sell | 5212026 | 46.69 | 5,595 | 261,203 | 657,325 | Form |
| 5 | Hernandez, Carlos | See Remarks | Direct | Sell | 11102025 | 39.99 | 2,867 | 114,651 | 453,087 | Form |
| 6 | Corbin, Charles R JR | See Remarks | Direct | Sell | 11042025 | 41.81 | 30,426 | 1,272,172 | 2,520,009 | Form |
| 7 | Wang, Mark D | See Remarks | Direct | Sell | 8292025 | 47.34 | 46,364 | 2,194,872 | 37,951,579 | Form |
Investor Activity (13F)
Updated Sep 21, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| North Peak Capital Management, LLC | $173.3 Mil | 28.8% | 7 | TRIM -14.4% | 13F |
| Mudita Advisors LLP | $108.7 Mil | 22.2% | 28 | ADD +6.6% | 13F |
| Hill Path Capital LP | $254.7 Mil | 18.6% | 7 | Hold | 13F |
| Breach Inlet Capital Management, LLC | $36.4 Mil | 11.9% | 12 | ADD +9.9% | 13F |
| CAS Investment Partners, LLC | $205.0 Mil | 11.7% | 5 | New | 13F |
| Parsifal Capital Management, LP | $84.6 Mil | 10.9% | 17 | TRIM -12.7% | 13F |
| Gray Foundation | $8.3 Mil | 2.1% | 11 | Hold | 13F |
| Long Pond Capital, LP | $19.0 Mil | 1.9% | 32 | TRIM -33.7% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Hill Path Capital LP | $254.7 Mil | 18.6% | 7 | Hold | 13F |
| CAS Investment Partners, LLC | $205.0 Mil | 11.7% | 5 | New | 13F |
| North Peak Capital Management, LLC | $173.3 Mil | 28.8% | 7 | TRIM -14.4% | 13F |
| Mudita Advisors LLP | $108.7 Mil | 22.2% | 28 | ADD +6.6% | 13F |
| Parsifal Capital Management, LP | $84.6 Mil | 10.9% | 17 | TRIM -12.7% | 13F |
| Breach Inlet Capital Management, LLC | $36.4 Mil | 11.9% | 12 | ADD +9.9% | 13F |
| Long Pond Capital, LP | $19.0 Mil | 1.9% | 32 | TRIM -33.7% | 13F |
| Gray Foundation | $8.3 Mil | 2.1% | 11 | Hold | 13F |
Hilton Grand Vacations — Investor Video Playlist
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Hotels, Resorts & Cruise Lines Resources |
| Skift |
| Hotel News Now |
| Cruise Industry News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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