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Hilton Grand Vacations
Hilton Grand Vacations (HGV) investor relations material
Hilton Grand Vacations Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Achieved 10% contract sales growth for 2025, the highest since 2022, with EBITDA above guidance midpoint; Q4 2025 contract sales rose 1.8% year-over-year to $852 million, and total revenues reached $1.394 billion, up 1.5% year-over-year.
HGV Max memberships grew 35%, driven by Bluegreen integration and new buyer demand.
Returned $600 million to shareholders in 2025, totaling over $1 billion in two years via share repurchases; Q4 share repurchases totaled $150 million, with $339 million remaining under the program.
Integration and operational excellence led to $100 million in cost synergies, achieved ahead of schedule; Bluegreen Vacations acquisition completed in January 2024.
Entered 2026 with strong momentum, focusing on growth, innovation, and efficiency.
Financial highlights
Adjusted EBITDA for 2025 reached $1.152 billion, up 4.3% year-over-year; Q4 Adjusted EBITDA was $324 million, up 12.1% year-over-year.
Q4 total revenue before cost reimbursements grew 1% to $1.3 billion; contract sales up 2% to $852 million.
Adjusted free cash flow for 2025 was $756 million (66% conversion), exceeding the 65%-70% target range.
Repurchased 15 million shares in 2025, reducing float by over 20%; capital returned to shareholders in 2025 was $600 million.
Total cash and cash equivalents at year-end were $239 million; total debt (corporate and non-recourse) was $7.2 billion.
Outlook and guidance
2026 Adjusted EBITDA guidance: $1.185–$1.225 billion, factoring in $25–$35 million in expense headwinds.
Expect low single-digit contract sales growth and mid-single-digit EBITDA growth for 2026.
Q1 2026 EBITDA expected flat to slightly down due to tough comps and expense headwinds; sequential improvement anticipated through the year.
Free cash flow conversion for 2026 expected in the lower half of 55%-65% range.
Plan to maintain $150 million in quarterly share repurchases without increasing leverage.
Detail inorganic inventory optimization plans
NOG impact on long-term value creation
Sales force strategy for diverse market growth
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Next Hilton Grand Vacations earnings date
Q1 202630 Apr, 2026
Hilton Grand Vacations
Next Hilton Grand Vacations earnings date
Q1 202630 Apr, 2026
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Frequently asked questions
Hilton Grand Vacations Inc develops, markets, and operates vacation ownership resorts and manages related exchange programs. The company provides flexible vacation experiences through timeshare ownership, servicing both domestic and international customers. Hilton Grand Vacations offers resort properties in vacation destinations across the United States and internationally. The company is headquartered in Orlando, Florida, and its shares are listed on the NYSE.
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