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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 regions and channels.
Adjusted EBITDA attributable to shareholders was $245 million, down from $303 million in Q3 2024, with margins of 19.2%.
Strong tour flow and VPG growth in both owner and new buyer channels, with VPG up 14.7% year-over-year to $3,891.
Continued robust demand for the HGV Max program, surpassing 250,000 members, and strong engagement from both new and existing members.
Ongoing integration of Bluegreen Vacations, with $94 million in run-rate cost synergies achieved and full rebranding of sales centers.
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.
Net deferral of $99 million in revenues and $57 million impact on net income and Adjusted EBITDA due to projects under construction.
Free cash flow was $(4) million, down from $59 million in Q3 2024; adjusted free cash flow was $23 million, up from $(42) million.
Repurchased 3.3 million shares for $150 million in Q3; 12.4 million shares YTD for $497 million, nearly 18% of public float.
Total cash and cash equivalents were $215 million, with $328 million in restricted cash as of September 30, 2025.
Outlook and guidance
Reiterated 2025 adjusted EBITDA guidance of $1.125–$1.165 billion, assuming stable environment and excluding deferrals and recognitions.
Expect high single-digit contract sales growth for the year and strong free cash flow conversion in Q4, targeting 65%-70% for the year.
2026 expected to see continued contract sales growth driven by tour flow, with moderated VPG and focus on operational cost improvements.
Q3 2025 deferral impact on reported EPS?
Why did Q3 real estate revenue decline vs. sales?
Explain financing business optimization strategy
Detail rental business path to profitability
HGV Max member tenure and future value
2026 flow-through and investment cadence
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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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