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Hilton Grand Vacations (HGV) investor relations material
Hilton Grand Vacations Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved contract sales growth of 16.7% year-over-year to $907 million, a record for the business, with broad-based gains across all channels and geographies.
Adjusted EBITDA attributable to stockholders was $245 million, down from $303 million in Q3 2024, with margins excluding reimbursements at 24%.
Member count neared 722,000, with HGV Max surpassing 250,000 members, reflecting strong engagement and upgrade activity.
Integration of Bluegreen Vacations progressing well, with $94 million in run-rate cost synergies realized and full rebranding of sales centers.
Amended and Restated Receivables Loan Agreement governs timeshare receivables financing, with Amendment No. 4 effective July 23, 2025, updating lender participation and terms.
Financial highlights
Total revenue before cost reimbursement grew 12% to $1.3 billion year-over-year, slightly down from $1.306 billion in Q3 2024 due to net deferrals.
Real estate profit was $178 million with a 27% margin, up 300 basis points from the prior year.
Financing business revenue was $128 million, profit $75 million, with a 59% margin; originated weighted average interest rate was 14.7%.
Resort and club revenue grew 8% to $193 million, with segment profit of $135 million and 70% margin.
Adjusted free cash flow for the quarter was $23 million, with $342 million year-to-date.
Outlook and guidance
Reiterated full-year adjusted EBITDA guidance of $1.125–$1.165 billion, assuming stable environment.
Expecting high single-digit contract sales growth for the year and strong free cash flow conversion in Q4.
For 2026, anticipate tour flow growth as the primary driver for contract sales, with moderated VPG and continued operational cost improvements.
Free cash flow conversion expected to remain in the 65–70% range, with annual inventory investment trending toward $300 million after 2026.
Management expects continued strong long-term cash flow generation and meaningful shareholder returns.
Q3 2025 deferral impact on reported EPS?
Why did Q3 real estate revenue decline vs. sales?
Explain financing business optimization strategy
Quantify HGV Max's future cash flow impact
Detail the path to rental business profitability
What factors sustain sub-650 FICO stability?
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Next Hilton Grand Vacations earnings date
Q4 202527 Feb, 2026
Next Hilton Grand Vacations earnings date
Q4 202527 Feb, 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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