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Hilton Grand Vacations

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For the former parent company, see Hilton Worldwide.
Hilton Grand Vacations, Inc.
Company typePublic
NYSE: HGV
Russell 1000 Component
IndustryTimeshares
Founded1992; 32 years ago (1992)
FounderHilton Worldwide
Headquarters
Orlando, Florida
,
United States
Number of locations
55 (December 31, 2019)[1]
Key people
Mark Wang (CEO)
ProductsTimeshare(s)
Websitewww.hgv.com
Elara, a Hilton Grand Vacations Club in Las Vegas

Hilton Grand Vacations Inc. is based in Orlando, Florida, United States, with regional offices located in Las Vegas, Nevada, Oahu, Hawaii, New York City, Marco Island, Florida and Sanibel Island, Florida. It was formerly a wholly owned subsidiary of Hilton Inc. (formerly Hilton Worldwide) until it was spun off into a publicly traded company. As of December 31, 2019, it has 55 properties with 8,916 rooms in 5 countries and territories, all franchised.[1]

Dealing in timeshares, Hilton Grand Vacations Company, LLC develops, manages, markets, and operates a system of brand-name vacation club ownership resorts. Resort villas are jointly owned by members who have exclusive use of the properties for limited periods of time (also known as timeshares). Club members can also exchange their intervals for vacations at affiliated resorts worldwide. Various timeshare websites report timeshare owner critiques of the HGVC property experience.[citation needed]

A year after investing, HNA Group was in talks to sell some or all of its 25% share in Hilton Grand Vacations, a timeshare business which had spun off from Hilton Worldwide Holdings the year before.[2]

Hilton Grand Vacations to acquire Diamond Resorts International it was announced on March 10, 2021.[3] 92 leisure resorts and nearly 400,000 owners of Diamond Resorts International will complement 62 upscale and luxury properties and over 325,000 owners of Hilton Grand Vacations it was announced.[3]

Hilton Grand Vacation Club

The Hilton Grand Vacation Club (HGVC) is a timeshare-point-based reservations and exchange system allowing HGVC members leisure-travel opportunities. There are currently more than 300,000 HGVC members worldwide.[4] Club membership provides exclusive exchange, leisure-travel, and reservation services.

Top competitors

Right of first refusal

When selling an HGVC account, each owner will be required to submit their purchase agreement contract to Hilton. Hilton reserves the right to purchase the ownership directly from the existing owner, thus refusing the sale to the buyer.

References

  1. ^ a b "Inline XBRL Viewer". www.sec.gov. Retrieved 2020-08-19.
  2. ^ Julie Steinberg and Jenny Strasburg (March 12, 2018). "HNA in Talks to Sell Stake in Hilton Grand Vacations a Year After Investing". The Wall Street Journal. The New York Times, New York City, United States. Retrieved March 17, 2018.
  3. ^ a b Hilton Grand Vacations to Acquire Diamond Resorts, Creating the Premier Leisure Operator With the Broadest Offering in the Vacation Ownership Industry PRESS RELEASE
  4. ^ "Hilton Grand Vacations to Report Fourth-Quarter and Full-Year 2018 Results". www.businesswire.com. 2019-02-13. Retrieved 2019-12-08.
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