Skift Take
In a financial update, Hilton Grand Vacations (HGV) showcased its sector leadership with a revenue of $3.978 billion last year. Rivals Travel and Leisure Co. and Marriott Vacations Worldwide continued to see resilient sales, too.
Hilton Grand Vacations reported financial results on Thursday, following recent reports from timeshare operator rivals Marriott Vacations Worldwide and Travel and Leisure Company.
Here are a few highlights, revealing broader dynamics in the segment.
Hilton Grand Vacations (HGV)HGV is the timeshare leader by revenue size. Last year, it generated $3.978 billion in revenue and produced a net income of $313 million.
The group has risen in stature by acquiring two companies in the past two years, including Bluegreen Vacations in a $1.5 billion deal last November and Diamond Resorts for $1.4 billion in August 2021.
It has more than 150 resorts and "more than 525,000 club members."
Mild hesitancy among new buyersHGV executives said Thursday it had seen "some more hesitancy, particularly with new buyers" about signing up for deals, a dynamic they had seen since the second half of the third quarter persisting into early this year.
"The inflationary pressures out there have put some pressure on