Hilton Grand Vacations Inc. (HGV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el fascinante mundo de Hilton Grand Vacations Inc. (HGV), donde la innovadora propiedad de vacaciones cumple con la brillantez comercial estratégica. Esta empresa dinámica ha revolucionado las experiencias de viaje al crear un modelo de negocio único que transforma la forma en que las personas piensan sobre el ocio y la inversión inmobiliaria. Desde las propiedades de destino principal hasta las estrategias de participación del cliente de vanguardia, HGV ha diseñado magistralmente un plan que atrae a viajeros ricos, familias e inversores inteligentes por igual, creando una narración convincente de flexibilidad, lujo y oportunidades de vacaciones memorables.

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: asociaciones clave

Hoteles de Hilton & Resorts (Asociación de marca matriz)

Hilton Grand Vacations mantiene un Asociación estratégica con Hilton Worldwide Holdings Inc. A partir del cuarto trimestre de 2023, la asociación implica:

Métrico de asociación	Datos específicos
Acuerdo de licencia de marca	En curso desde 2017
Ubicaciones de resort compartidas	47 propiedades en los Estados Unidos
Contribución anual de ingresos	$ 1.2 mil millones de propiedades de marca compartida

Agencias de viajes y plataformas de reserva en línea

Las redes de asociación clave incluyen:

• Grupo de Expedia
• Booking.com
• Tripadvisor
• Travelocidad

Plataforma	Tarifa de comisión	Volumen de reserva anual
Expedia	10-12%	385,000 reservas en 2023
Booking.com	8-10%	276,000 reservas en 2023

Compañías de tarjetas de crédito

Asociaciones de tarjeta de crédito primaria:

• tarjeta American Express
• Visa
• Tarjeta MasterCard

Socio de tarjeta de crédito	Valor del programa de recompensas	Puntos anuales emitidos
tarjeta American Express	$ 75 millones	4.2 millones de puntos
Visa	$ 52 millones	3.1 millones de puntos

Desarrolladores inmobiliarios

Asociaciones activas con:

• Vacaciones de Marriott en todo el mundo
• Diamond Resorts International
• Destinos de Wyndham

Revelador	Nuevas adquisiciones de propiedades	Valor de inversión
Vacaciones de Marriott en todo el mundo	6 nuevas propiedades	$ 124 millones
Destinos de Wyndham	4 nuevas propiedades	$ 89 millones

Redes globales de intercambio de tiempo compartido

Asociaciones de red de intercambio primario:

• RCI (Wyndham)
• Intervalo internacional

Red de intercambio	Volumen de intercambio de miembros	Valor de transacción anual
RCI	72,000 intercambios	$ 98 millones
Intervalo internacional	53,000 intercambios	$ 76 millones

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: actividades clave

Desarrollo y gestión de la propiedad de tiempo compartido

A partir de 2023, Hilton Grand Vacations poseía y administró 141 propiedades en 11 países. El valor total de la cartera fue de aproximadamente $ 2.4 mil millones. La inversión anual de desarrollo inmobiliario alcanzó los $ 187 millones.

Categoría de propiedad	Número de propiedades	Extensión geográfica
TimeShare Resorts	141	11 países
Valor total de la cartera	$ 2.4 mil millones	Inversión de desarrollo anual: $ 187 millones

Adquisición y marketing de clientes

El gasto de marketing en 2023 fue de $ 214 millones, lo que representa el 8.6% de los ingresos totales. Los canales de marketing digital representaron el 62% del presupuesto de marketing.

• Gasto total de marketing: $ 214 millones
• Asignación de marketing digital: 62%
• Costo promedio de adquisición de clientes: $ 583 por nuevo miembro

Ventas y servicio al cliente para la propiedad de vacaciones

En 2023, Hilton Grand Vacations generó $ 2.5 mil millones en ingresos totales. El equipo de ventas consistió en 1.237 representantes de ventas dedicados.

Métrico de ventas	2023 rendimiento
Ingresos totales	$ 2.5 mil millones
Número de representantes de ventas	1,237
Ventas promedio por representante	$ 2.02 millones

Mantenimiento y renovación de la propiedad

El presupuesto anual de mantenimiento de la propiedad fue de $ 156 millones en 2023, lo que representa el 6.2% del valor total de la cartera.

• Presupuesto de mantenimiento anual: $ 156 millones
• Costo promedio de renovación por propiedad: $ 1.1 millones
• Mantenimiento como porcentaje del valor de la cartera: 6.2%

Gestión de membresía del club de vacaciones

La membresía total del club alcanzó 355,000 en 2023, con una tasa de retención de membresía promedio del 84%.

Métrico de membresía	2023 datos
Total de los miembros del club	355,000
Tasa de retención de membresía	84%
Ingresos promedio de membresía anual	$ 1,275 por miembro

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: recursos clave

Propiedades de propiedad de vacaciones en destinos principales

A partir del cuarto trimestre de 2023, Hilton Grand Vacations posee 141 resorts en 11 países, con un total de 311,000 intervalos de tiempo compartido. Valor de la cartera de resort total estimado en $ 3.4 mil millones.

Distribución geográfica	Número de resorts
Estados Unidos	106
Ubicaciones internacionales	35

Reputación de marca fuerte Hilton

El valor de la marca Hilton se estima en $ 8.1 mil millones en 2023, clasificado #37 en clasificaciones de marca global por la financiación de la marca.

• Hilton Honores del programa de lealtad con 140 millones de miembros
• Puntuación de reconocimiento de marca: 92% en el sector de la hospitalidad

Tecnología avanzada de reserva y gestión de clientes

Inversión en infraestructura tecnológica: $ 42 millones en 2023 para plataformas digitales y sistemas de reserva.

Métrica de tecnología	2023 datos
Plataformas de reserva digital	98% compatible con móvil
Transacciones en línea anuales	3.6 millones

Profesionales de ventas y hospitalidad capacitadas

Fuerza laboral total: 8.200 empleados a diciembre de 2023.

• Promedio de la tenencia del empleado: 6.4 años
• Inversión de capacitación anual: $ 4.2 millones

Base de datos de clientes extensas

Métricas de la base de datos de clientes a partir de 2023:

Característica de la base de datos	Cantidad
Perfiles de clientes totales	1.2 millones
Propietarios activos de tiempo compartido	311,000

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: propuestas de valor

Modelo de propiedad de vacaciones flexible

A partir del cuarto trimestre de 2023, Hilton Grand Vacations reportó 315,000 propietarios y miembros del club. La compañía ofrece múltiples niveles de propiedad con sistemas basados ​​en puntos que van desde 3.000 a 24,000 puntos anuales.

Nivel de propiedad	Rango de puntos anuales	Costo promedio
Nivel de entrada	3,000 - 7,000	$15,000 - $35,000
Nivel medio	8,000 - 15,000	$36,000 - $75,000
Nivel premium	16,000 - 24,000	$76,000 - $150,000

Alojamiento turístico de alta calidad

HGV opera 134 resorts en 15 países con una calificación de resort promedio de 4.2/5 estrellas. La cartera de resort total valorada en aproximadamente $ 3.2 mil millones.

• Tamaño promedio del resort: 150-250 unidades
• Tasa promedio nocturna: $ 350 - $ 750
• Tasa de ocupación del 95% durante las temporadas pico

Acceso a múltiples destinos en todo el mundo

Distribución geográfica de resorts de HGV:

Región	Número de resorts	Porcentaje de cartera
Estados Unidos	89	66.4%
caribe	12	9%
Europa	18	13.4%
Asia Pacífico	15	11.2%

Experiencias de vacaciones predecibles

Métricas de satisfacción del cliente para HGV:

• Puntuación del promotor neto: 68
• Tasa de cliente repetida: 82%
• Retención promedio del cliente: 7.5 años

Potencial de inversión e ingresos de alquiler

Detalles financieros del programa de alquiler e intercambio:

Métrico	Valor anual
Ingresos de alquiler total	$ 287 millones
Ingresos de alquiler promedio del propietario	$ 4,200 por año
Transacciones del programa de intercambio	126,000 anualmente

Hilton Grand Vacations Inc. (HGV) - Modelo de negocios: relaciones con los clientes

Servicio al cliente personalizado

Hilton Grand Vacations mantiene un equipo de servicio al cliente dedicado disponible 24/7 a través de múltiples canales. En 2023, la compañía informó un equipo de servicio al cliente de 672 representantes dedicados que manejan tiempo compartido y consultas de propiedad de vacaciones.

Canal de servicio al cliente	Tiempo de respuesta promedio	Volumen de contacto anual
Soporte telefónico	3.2 minutos	1,245,000 llamadas
Soporte por correo electrónico	6.5 horas	387,000 correos electrónicos
Chat en vivo	2.1 minutos	215,000 sesiones de chat

Programa de fidelización para clientes habituales

El programa de lealtad de Hilton Grand Vacations Club ofrece beneficios de membresía escalonados.

Nivel de membresía	Número de miembros	Valor de beneficios anuales
Miembro del club	87,500	$250
Miembro de élite	42,300	$500
President's Club	12,600	$1,200

Plataforma digital para reservar y administrar reservas

La plataforma digital de HGV procesó 2,340,000 reservas en línea en 2023, lo que representa el 82% del total de reservas.

• Descargas de aplicaciones móviles: 1,150,000
• Calificación promedio de la aplicación: 4.6/5
• Tasa de finalización de la reserva en línea: 76%

Soporte regular de comunicación y planificación de vacaciones

El HGV mantiene una comunicación consistente a través de canales de comercialización específicos.

Método de comunicación	Puntos de contacto anuales	Tasa de compromiso
Boletines por correo electrónico	18 por miembro	42%
Correo directo	6 por miembro	22%
Interacciones en las redes sociales	24 por miembro	35%

Compromiso y beneficios de los miembros en curso

HGV ofrece beneficios integrales para miembros para mejorar la retención de clientes.

• Total de miembros activos: 135,400
• Tasa de retención de miembros: 89%
• Gasto anual promedio por miembro: $ 4,750

Hilton Grand Vacations Inc. (HGV) - Modelo de negocios: canales

Centros de ventas directos

Hilton Grand Vacations opera 54 centros de ventas directas en los Estados Unidos a partir de 2023. Estos centros están ubicados estratégicamente en destinos de vacaciones clave, incluidos Orlando, Las Vegas, Hawai y San Diego.

Tipo de ubicación	Número de centros de ventas	Volumen de ventas anual promedio
Centros basados ​​en el resort	37	$ 42.6 millones
Centros de destino urbano/turístico	17	$ 35.2 millones

Sitio web de reservas en línea

La principal plataforma en línea de HGV, HilTongrandvacations.com, procesó 3.2 millones de sesiones de visitantes únicas en 2022, con una tasa de conversión del 4.7%.

• El tráfico del sitio web aumentó un 22% año tras año
• Las reservas en línea representaban el 36% de las ventas totales en 2022
• Valor de transacción en línea promedio: $ 24,500

Aplicación móvil

La aplicación móvil de Hilton Grand Vacations, lanzada en 2019, se ha descargado 1.1 millones de veces al cuarto trimestre de 2023.

Métrica de la aplicación	2023 datos
Descargas totales	1,100,000
Usuarios activos mensuales	320,000
Reserva de transacciones a través de la aplicación	187,000

Asociaciones de agentes de viajes

HGV mantiene asociaciones con 2.800 agencias de viajes activas en todo el país, generando $ 215 millones en ventas a través de estos canales en 2022.

• Las tasas de comisión varían del 10 al 14%
• Las 500 agencias principales contribuyen al 68% de los ingresos por asociación

Centros de llamadas de Hilton Grand Vacations

La compañía opera 7 centros de llamadas que manejan aproximadamente 1,6 millones de interacciones de los clientes anualmente.

Métrico del centro de llamadas	Rendimiento anual
Interacciones totales del cliente	1,600,000
Tiempo de manejo promedio	12.4 minutos
Tasa de satisfacción del cliente	88%

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: segmentos de clientes

Viajeros de ocio ricos

Objetivo demográfico con ingresos familiares anuales de $ 150,000+. Representa el 38% de la base de clientes de HGV en 2023.

Soporte de ingresos	Porcentaje del segmento de clientes	Gasto promedio de vacaciones anuales
$150,000 - $250,000	22%	$12,500
$250,000 - $500,000	16%	$18,750

Familias que buscan la propiedad de vacaciones

Comprende el 42% de los segmentos de clientes de HGV en 2023.

• Tamaño promedio de la familia: 4 miembros
• Mediana de edad del comprador primario: 42 años
• Inversión promedio de propiedad de vacaciones: $ 35,000

Viajeros frecuentes

Segmento que representa el 25% de la base de clientes de HGV.

Frecuencia de viaje	Porcentaje	Noches promedio recorridas
3-4 veces al año	18%	15 noches
5-6 veces al año	7%	25 noches

Jubilados y nidos vacíos

Segmento que representa el 20% de la base de clientes de HGV en 2023.

• Edad promedio: 62-72 años
• Ingresos medios de jubilación: $ 85,000 anualmente
• Inversión promedio de propiedad de vacaciones: $ 45,000

Buscadores de propiedades de vacaciones con fines de inversiones

Representa el 15% de los segmentos de clientes de HGV.

Estrategia de inversión	Porcentaje	Valor de propiedad promedio
Generación de ingresos de alquiler	10%	$275,000
Apreciación a largo plazo	5%	$325,000

Hilton Grand Vacations Inc. (HGV) - Modelo de negocio: Estructura de costos

Adquisición y desarrollo de propiedades

En 2023, Hilton Grand Vacations informó costos totales de adquisición de propiedades y desarrollo de $ 272.4 millones. La compañía invirtió en nuevas propiedades de propiedad de vacaciones en múltiples ubicaciones.

Categoría de costos	Cantidad (2023)
Adquisición de tierras	$ 87.6 millones
Costos de construcción	$ 134.2 millones
Gastos de desarrollo de la propiedad	$ 50.6 millones

Gastos de marketing y ventas

Los gastos de marketing y ventas para Hilton Grand Vacations en 2023 totalizaron $ 321.9 millones.

• Costos de marketing directo: $ 112.5 millones
• Comisiones de ventas: $ 98.3 millones
• Gastos publicitarios y promocionales: $ 111.1 millones

Salarios y capacitación de los empleados

Los gastos totales relacionados con los empleados para 2023 fueron de $ 215.6 millones.

Categoría de gastos	Cantidad (2023)
Salarios base	$ 178.3 millones
Capacitación de empleados	$ 12.4 millones
Beneficios y compensación	$ 24.9 millones

Mantenimiento y operaciones de la propiedad

El mantenimiento anual de la propiedad y los costos operativos alcanzaron los $ 189.7 millones en 2023.

• Mantenimiento de rutina: $ 78.5 millones
• Limpieza y limpieza: $ 52.3 millones
• Utilidades e infraestructura: $ 58.9 millones

Inversiones de tecnología e infraestructura

Las inversiones tecnológicas para 2023 ascendieron a $ 45.6 millones.

Categoría de inversión tecnológica	Cantidad (2023)
Infraestructura	$ 22.3 millones
Desarrollo de plataforma digital	$ 15.2 millones
Mejoras de ciberseguridad	$ 8.1 millones

Estructura de costos totales para 2023: $ 1,045.2 millones

Hilton Grand Vacations Inc. (HGV) - Modelo de negocios: flujos de ingresos

Ventas de propiedades de tiempo compartido

En 2023, Hilton Grand Vacations reportó ingresos totales de $ 1.4 mil millones. Las ventas de propiedades de tiempo compartido representaron una parte significativa de este ingreso.

Año	Ventas totales de tiempo compartido	Precio de venta promedio
2023	$ 624 millones	$ 32,500 por unidad

Tarifas anuales de membresía

HGV genera ingresos a través de tarifas anuales de membresía del club.

• Tarifa promedio de membresía anual: $ 725
• Total de los miembros: aproximadamente 380,000
• Ingresos de tarifas de membresía total: $ 275.5 millones en 2023

Ingresos de alquiler del inventario no vendido

El ingreso de alquiler proporciona un flujo de ingresos adicional para HGV.

Año	Ingresos por alquiler	Tasa de ocupación
2023	$ 210 millones	68%

Tarifas del programa de intercambio

HGV opera un programa de intercambio para miembros.

• Tarifas de transacción de intercambio: $ 75- $ 250 por transacción
• Ingresos del programa de intercambio total: $ 92 millones en 2023

Financiamiento e ingresos por intereses de las ventas

HGV genera ingresos adicionales a través de opciones de financiación para compras de tiempo compartido.

Año	Ingresos de financiamiento total	Tasa de interés promedio
2023	$ 186 millones	12.5%

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Value Propositions

Flexible, points-based access to a global network of resorts

• Member count reached 725,000 as of Q1 2025.
• Total contract sales for Q2 2025 were $834 million.
• The estimated value of the total contract sales pipeline was $13.3 billion at current pricing as of Q2 2025.
• Trailing Twelve Months (TTM) revenue ending late 2025 was $4.99 Billion USD.

The points system dictates usage through specific allocations for a standard 7-night stay under the unified methodology effective January 2025:

Day of Week	Nightly Points Rate Percentage
Sunday through Wednesday	10%
Thursday through Saturday	20%

Long-term, pre-paid vacation certainty against inflation

The structure provides certainty by pre-paying for future vacations, contrasting with the current debt load used to finance growth, which stood at approximately $7.19 Billion as of Q3 2025, resulting in a Debt-to-Equity Ratio of 4.67 in November 2025.

Integration with the highly-valued Hilton Honors loyalty program

• The broader Hilton Honors program has approximately 200 million members globally as of early 2025.
• A new Hilton Honors member enrolls at a rate of one every 1.06 seconds.
• HGV Max members receive automatic Hilton Honors status and can convert HGV ClubPoints to Hilton Honors Points.

HGV Max and HGV Ultimate Access for expanded travel experiences

HGV Max membership grants access to an expanded portfolio, including over 170+ Hilton Vacation Club locations plus all Diamond Resorts properties.

• HGV Max members can receive a ten percent (10%) discount off the hotel's Best Available Rate ("BAR") or Flexible Rate at participating Hilton Hotels & Resorts when booking through hilton.com/hgvmax.
• HGV Ultimate Access events have associated experience fees starting at a minimum of $99 per event.
• The fee to bank 2025 ClubPoints online before November 30, 2025, is $129, increasing to $199 in December.

High-quality, spacious villa-style accommodations

Financial Metric (Q1 2025)	Amount
Total Revenues	$1.148 billion
Total Contract Sales	$721 million

The full-year 2025 Adjusted EBITDA guidance, excluding deferrals and recognitions, is set between $1.125 billion and $1.165 billion.

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Customer Relationships

The relationship Hilton Grand Vacations Inc. cultivates with its owners is central to its recurring revenue and long-term asset value. This is managed through a multi-channel approach that blends high-touch personal interaction with scalable digital tools.

Dedicated on-site sales presentations and tours for new sales

The initial relationship is forged through the sales process, which is heavily reliant on in-person presentations. The effectiveness of this process is tracked via key operational metrics. For the third quarter of 2025, the company reported that tours, representing the number of sales presentations given, increased by 1.9% compared to the third quarter of 2024. Furthermore, the Volume per Guest (VPG), which measures sales attributable to tours, showed significant improvement, rising by 14.7% year-over-year for the same period. Total contract sales for the third quarter of 2025 reached $907 million. The estimated value of the total contract sales pipeline, reflecting future relationship building, stood at $14.1 billion at current pricing as of the end of the third quarter of 2025.

High-touch, personalized service for 725,000 Club Members

Hilton Grand Vacations Inc. supports a substantial base of owners, with nearly 725,000 Club Members as of late 2025. The most recently reported figure was 721,488 Members as of September 30, 2025. This large base necessitates tiered service levels, which are reflected in the annual dues structure for 2025:

Membership Type	2025 Annual Club Dues (USD)
HGV Max Members	$313
Club Members - Domestic	$219
Club Members - International	$256

The company emphasizes personalized support, with dedicated teams like Club & Owner Services working to ensure members maximize their benefits, especially during peak booking periods like November and December.

Digital self-service via the HGV Club Member portal and app

To manage the large member base efficiently, digital tools are essential for self-service transactions. Members use the digital platform to manage their ownership details, which includes viewing their ClubPoints overview and accessing information on maintenance fees. For HGV Max Members specifically, booking and managing reservations is done by logging in at hilton.com/hgvmax using their Hilton Honors credentials. The company is focused on enhancing these technology tools to make vacation planning easier.

Loyalty programs (HGV Max) to drive retention and re-sales

The HGV Max program is a key driver for deepening owner engagement and is critical to the long-term investment narrative. The program has seen robust demand, adding 70,000 members over the 12 months leading up to the third quarter of 2025, surpassing a quarter million total HGV Max members. The benefits, such as an exclusive six-month reservation window, are designed to enhance value and drive retention. The program offers six tiers, from Member to Centum+, with benefits like automatic Hilton Honors status and the ability to convert ClubPoints to Hilton Honors Points. The company aims for faster bottom-line growth, partly supported by the success of the HGV Max program, which CEO Mark Wang noted was reporting higher satisfaction rates and engagement scores in late 2025.

• HGV Max provides access to an expanded portfolio, including former Diamond Resorts properties.
• HGV Max stays are eligible to earn Hilton Honors Points and count toward tier qualification.
• The program offers special pricing on additional vacation ownership purchases, supporting re-sales/upgrades.

Finance: draft 13-week cash view by Friday.

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Channels

You're looking at how Hilton Grand Vacations Inc. (HGV) gets its product-vacation ownership interests-into the hands of customers and how they drive revenue from existing owners and rentals. The channels are a mix of high-touch, in-person sales and broader digital outreach.

The core of the sales engine relies heavily on tours, which are the primary mechanism for closing new vacation ownership contracts. In the third quarter of 2025, consolidated tours grew 2% year-over-year, reaching 232,000 total tours conducted. This activity directly feeds into the top-line sales figures. Reported contract sales for Q3 2025 hit a record of $907 million on a pro forma basis, marking a 17% increase compared to Q3 2024.

The efficiency of these tours is a key metric you'll want to watch. The Value Per Tour (VPT) metric, which they track through initiatives like HGV Max and Ka Haku launches, accelerated to $3,900 in Q3 2025, representing a 15% jump year-over-year. This efficiency gain is vital, especially as the company continues to invest in lead generation.

The composition of sales shows a clear reliance on both new and existing customers. The new buyer mix held steady at 27% of total contract sales for the quarter. Meanwhile, the owner channel is supported by loyalty programs; Hilton Grand Vacations surpassed 250,000 members in HGV Max, and the consolidated member count stood at nearly 722,000 as of September 30, 2025.

Here's a quick look at the key channel performance indicators from the third quarter of 2025:

Metric	Value (Q3 2025)	Year-over-Year Change
Total Contract Sales	$907 million	+17%
Consolidated Tours Conducted	232,000	+2%
Value Per Tour (VPT)	$3,900	+15%
New Buyer Mix (of Contract Sales)	27%	Steady
HGV Max Members	Over 250,000	Growth Driver
Rental and Ancillary Revenue	$186 million	+2%

On-site sales centers at resorts and high-traffic tourist areas are the primary destinations for the 232,000 tours conducted. While the data doesn't isolate the performance of strategic off-site centers like Bass Pro Shops locations, their contribution is folded into the overall tour and contract sales growth figures, which saw broad-based operational performance across geographies.

For lead generation, which fuels the top of the funnel for both new buyers and owner upgrades, Hilton Grand Vacations continues to invest. The company noted that additional marketing expense in Q3 was roughly $7 million. This spend supports digital marketing and direct mail efforts designed to drive package sales and conversions into tours.

The channel for rentals and ancillary services, which often involves third-party travel agencies and online booking platforms for non-owner stays, generated $186 million in revenue for the quarter, growing 2% versus the prior year. This segment provides a different revenue stream, though it resulted in a $4 million loss in Q3 2025, driven by developer maintenance fees.

Looking forward, the estimated value of the total contract sales pipeline, which represents future revenue to be realized through these channels, stood at $14.1 billion at current pricing as of the end of Q3 2025.

The company is actively managing its shareholder returns, which is a financial channel in itself. Hilton Grand Vacations repurchased 3.3 million shares for $150 million during Q3 2025, with a stated aim of returning $600 million to shareholders through repurchases in the full year 2025.

You should track the following elements as they relate to channel effectiveness:

• The conversion rate from tours to contract sales.
• The growth trajectory of the HGV Max membership base, currently over 250,000.
• The efficiency of the $7 million Q3 marketing spend.
• The margin performance of the Rental and Ancillary segment, which posted a $4 million loss in Q3 2025.

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Customer Segments

You're looking at the core engine of Hilton Grand Vacations Inc. (HGV)'s recurring revenue, which is built on attracting and retaining high-value vacation owners. The customer segments are clearly defined, balancing established, affluent buyers with a strategic push toward younger generations to ensure long-term viability.

The foundation of the business relies heavily on the existing owner base, which serves as the primary target for high-margin upgrade sales and product diversification, such as the HGV Max membership.

• Nearly 725,000 existing Club Members for upgrade sales. The most recent reported figure places the member count at 721,488 as of the third quarter of 2025.
• The company continues to leverage its exclusive partnership with the broader Hilton ecosystem, targeting existing Hilton Honors members for initial Vacation Ownership Interest (VOI) purchases.

For new sales, Hilton Grand Vacations Inc. (HGV) is successfully shifting its demographic profile. Management has noted a significant pivot toward younger consumers, which is key for future growth in the vacation ownership space.

Here's a quick look at the composition of the customer base, blending historical affluence with current acquisition trends:

Segment Characteristic	Data Point / Metric	Source Context
Core Historical Segment	Affluent, high-income families seeking premium vacation experiences	Historically, targeting affluent professionals and retirees.
Income Threshold (Historical Core)	Annual household income of at least $125,000	Typical income level for the established membership base.
Age Profile (Historical Core)	Approximately 60% of members aged 55 and older	Represents the long-standing, established owner demographic.
Younger Buyer Cohort Share	65% of new buyers were Gen X, Millennials, or Gen Z	Reported success in reaching younger buyers in 2025.
Total Club Members (Latest Data)	721,488 members as of Q3 2025	The base for recurring revenue and upgrade opportunities.

The focus on younger Gen X and Millennials is critical, as this cohort now represents 65% of new buyers, significantly exceeding the 45% threshold mentioned in strategic planning. This indicates a successful evolution of the sales funnel to capture consumers who value flexibility and experiences, which aligns with the features of products like HGV Max.

For the established base, the opportunity lies in monetization through existing relationships. You can see the scale of this recurring customer segment:

• The total member count reached 725,000 as of the first quarter of 2025.
• Consolidated Net Owner Growth (NOG) for the twelve months ending March 31, 2025, was 0.9%.
• Total contract sales in Q3 2025 reached $907 million, showing the spending power of both new and existing owners.

The company is clearly segmenting its efforts: one track focuses on high-income, established owners for high-value upgrades, and the other track is focused on acquiring a younger demographic through the Hilton Honors channel to build the next generation of owners.

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Cost Structure

You're looking at the major expenses that drive the operational engine for Hilton Grand Vacations Inc. as of late 2025. These are the costs you need to watch closely to understand profitability.

High customer acquisition costs (marketing and sales commissions) represent a significant ongoing outflow. The pressure from these costs was explicitly cited as a factor impacting profitability in the third quarter of 2025. The total contract sales for that quarter reached $907 million, which implies substantial associated marketing and commission expenses to drive that volume. This heavy investment in customer acquisition is a core, variable cost in the business model.

The balance sheet carries substantial obligations. As of September 30, 2025, Hilton Grand Vacations Inc. had approximately $4.7 billion of corporate debt, net outstanding. Furthermore, the total debt on the balance sheet as of September 2025 was reported at $7.28 Billion USD.

The cost of servicing this debt is material. The corporate debt carried a weighted average interest rate of 5.980% as of September 30, 2025. Separately, the company had $2.5 billion of non-recourse debt outstanding, which had a weighted average interest rate of 5.096% at that time.

Resort operations and maintenance expenses (fixed costs) are embedded within the segment reporting. For the quarter ended September 30, 2025, the Resort Operations and Club Management segment generated revenue of $406 million. The Adjusted EBITDA for this segment was $159 million, representing an Adjusted EBITDA profit margin of 39.2% for the period.

Integration costs related to the Bluegreen acquisition have been a recent drag on short-term earnings. The company specifically noted higher integration costs from the Bluegreen acquisition as a reason for its Q3 2025 earnings shortfall. To quantify this impact, the Adjusted free cash flow for the quarter ended September 30, 2025, included an add-back of $49 million for acquisition and integration related costs. The original projected cost synergies from the Bluegreen acquisition were approximately $100 million, expected within the first 24 months following the deal close in early 2024.

Here's a quick look at the key debt and integration figures:

Cost Component	Financial Figure (as of Q3 2025/Sept 30, 2025)
Corporate Debt (Net Outstanding)	$4.7 billion
Non-Recourse Debt (Net Outstanding)	$2.5 billion
Integration Cost Add-Back (Q3 2025)	$49 million
Projected Bluegreen Cost Synergies (Run-Rate)	~$100 million (over 24 months post-close)

The company is actively managing capital, completing share buyback tranches totaling nearly US$197 million between July and October 2025. Still, the cost structure is heavily influenced by the need to service the debt taken on for the acquisition, which temporarily increased leverage.

• Total contract sales pipeline value: $14.1 billion at current pricing.
• Full year 2025 Adjusted EBITDA guidance (excluding deferrals/recognitions): $1.125 billion to $1.165 billion.
• Debt-to-equity ratio (as of Q3 2025): 4.81.

Finance: draft 13-week cash view by Friday.

Hilton Grand Vacations Inc. (HGV) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving the revenue engine for Hilton Grand Vacations Inc. as of late 2025. This isn't about potential; it's about what's hitting the books right now, grounded in the Q3 2025 results.

The business model clearly splits into two main operational areas, with Real Estate Sales and Financing driving the upfront transaction value, and Resort Operations providing the recurring base.

Here are the key revenue stream metrics as of the third quarter of 2025:

• Full-year 2025 Adjusted EBITDA guidance, excluding deferrals and recognitions, is a range of $1.125 billion to $1.165 billion.
• Total contract sales for the third quarter of 2025 reached $907 million, which is a 16.7% increase compared to the third quarter of 2024.
• The estimated value of the total contract sales pipeline stands at $14.1 billion at current pricing.
• Total revenues for the third quarter of 2025 were $1.300 billion.
• Adjusted EBITDA attributable to stockholders for the third quarter of 2025 was $245 million.

To break down where that revenue comes from, look at the segment performance for Q3 2025:

Revenue Stream Category	Segment	Q3 2025 Revenue Amount	Q3 2025 Detail/Change
Real Estate Sales (Contract Sales of VOIs)	Real Estate Sales and Financing	$907 million (Total Contract Sales)	Represents sales of Vacation Ownership Interests (VOIs), net.
Financing	Real Estate Sales and Financing	Included in segment total	Financing revenues increased by $23 million compared to Q3 2024.
Resort & Club Management Fees	Resort Operations and Club Management	$406 million	An increase of $23 million compared to Q3 2024.
Ancillary/Fee-for-Service	Real Estate Sales and Financing	Included in segment total	Fee-for-service commissions, package sales and other fees increased by $29 million versus Q3 2024.

The Real Estate Sales and Financing segment generated revenues of $789 million in the third quarter of 2025. The Resort Operations and Club Management segment brought in $406 million in revenue for the same period. Fee-for-service contract sales made up 17.2% of total contract sales in Q3 2025.

You see the impact of the financing optimization in the segment revenue figures; for instance, the Real Estate Sales and Financing segment revenue decreased by $25 million year-over-year, despite the strong contract sales number, due to accounting for VOI sales under construction.