Hilton Grand Vacations Reports Fourth Quarter and Full Year 2023 Results

ORLANDO, Fla. (Feb. 29, 2024) – Hilton Grand Vacations Inc. (NYSE: HGV) (“HGV” or “the Company”) today reports its fourth quarter and full year 2023 results.

Fourth quarter of 2023 highlights[1]

• Total contract sales were $572 million.

Contract sales were affected by approximately $40 million due to the ongoing impact of the Maui wildfires, along with a temporary outage impacting our sales system early in the quarter.

• Member count was 529,000. Consolidated Net Owner Growth (NOG) for the year ended Dec. 31, 2023, was 2.0%.
• Total revenues for the fourth quarter were $1,019 million compared to $992 million for the same period in 2022.

Total revenues were affected by a net deferral of $21 million in the current period compared to a net deferral of $3 million in the same period in 2022.

• Net income for the fourth quarter was $68 million compared to $78 million for the same period in 2022.

Adjusted net income for the fourth quarter was $111 million compared to $118 million for the same period in 2022.

Net income and adjusted net income were affected by a net deferral of $12 million in the current period compared to a net deferral of $1 million in the same period in 2022.

• Diluted EPS for the fourth quarter was $0.62 compared to $0.67 for the same period in 2022.

Adjusted diluted EPS for the fourth quarter was $1.01 compared to $1.01 for the same period in 2022.

Diluted EPS and adjusted diluted EPS were affected by a net deferral of $12 million in the current period compared to a net deferral of $1 million in the same period in 2022, or $(0.11) and $(0.01) per share in the current period and the same period in 2022, respectively.

• Adjusted EBITDA for the fourth quarter was $270 million compared to $252 million for the same period in 2022.

Adjusted EBITDA was affected by a net deferral of $12 million in the current period compared to a net deferral of $1 million in the same period in 2022.

Adjusted EBITDA was also affected by approximately $21 million due to the ongoing impact of the Maui wildfires, along with a temporary outage impacting our sales system early in the quarter.

• During the quarter, the Company repurchased 2.7 million shares of common stock for $99 million.

Through Feb. 23, 2024, the Company has repurchased approximately 1.7 million shares for $71 million, and currently has $289 million of remaining availability under the 2023 Repurchase Plan.

[1] . The Company’s current period results and prior year results include impacts related to deferrals of revenues and direct expenses related to the Sales of VOIs under construction that are recognized when construction is complete. These impacts are reflected in the sub-bullets.se impacts are reflected in the sub-bullets.