Hilton Grand Vacations Inc. (HGV) has released its 10-K filing for the fiscal year ending December 31, 2025, reporting a total revenue of $5.047 billion, a 1.3% increase compared to $4.981 billion in 2024. The company's net income attributable to stockholders was $81 million, a significant rise from $47 million in the previous year. This increase in net income was primarily driven by growth in both tour flow and volume per guest (VPG), key operational metrics for the company. HGV operates through two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
The Real Estate Sales and Financing segment reported revenues of $2.989 billion, a slight decrease of 0.7% compared to 2024. This segment's performance was affected by net construction deferral activity and increases in the provision for receivable losses and sales incentives, partially offset by an increase in contract sales excluding fee-for-service and a decrease in sales rescission. The Resort Operations and Club Management segment saw a 6.3% increase in revenues, reaching $1.625 billion, driven by higher management fee revenue, club annual dues revenue, and license fee revenue. As of December 31, 2025, HGV had over 720,000 club members.
Operationally, HGV continued to focus on its capital-efficient inventory strategy, with 26% of contract sales sourced from fee-for-service and just-in-time agreements. The company's estimated contract sales value related to its inventory pipeline stood at $14.7 billion. HGV also continued its marketing relationships with brands like Bass Pro and Choice Hotels to drive tour flow and sales. The company's human capital strategy emphasizes employee engagement, diversity, and training, with over 22,300 team members employed worldwide.
Looking ahead, HGV faces risks related to macroeconomic conditions, competition, and its reliance on the Hilton brand. The company's license agreement with Hilton imposes restrictions on its business operations, including limitations on acquisitions and marketing agreements with Hilton competitors. HGV also acknowledges the potential impact of cyber-attacks and the need to comply with evolving data privacy laws. The company's board of directors has authorized a share repurchase program, indicating a commitment to returning value to shareholders. As of February 19, 2026, $339 million remained available under the 2025 Repurchase Plan.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. is a global timeshare company that develops, markets, sells, manages, and operates vacation ownership resorts and interests. Its core offerings include deeded and points-based vacation ownership products, club memberships, and resort management services. Serving customers worldwide, the company leverages brand recognition, strategic locations, and flexible vacation options to deliver high-quality, personalized leisure experiences.
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