2023 Quarter 1 investors transcript

[dayooper]

Read the transcript for the 2023 quarter 2 investor call transcript. Overall, HGV is doing well and that’s a good thing for us owners.

• HGV continues to make more than they did in 2019
• 90,000 Max members. Seems like they are close to doubling every half year. I believe there was a little under 50,000 after quarter 3 of 2022.
• There are now 519,000 total members in HGV/HVC/bHC/Max
• They seem to be better than their competitors with your packages.
• The majority of their packages come from their relationship with Hilton Hotels
• There are now 22 total former DRI properties that have been converted to HVC with 11 more expected by the end of the year
• Rentals from the HVC properties have skyrocketed.
• Mentioned a wobble with a competitor in late March, not sure what that was. Also mentioned something similar with HGV and I’m not sure about that either
• Was asked about more consolidation with other systems. Mark Wang said they are always looking but there isn’t much out there like the DRI purchase

Hilton Grand Vacations Inc. (HGV) Q1 2023 Earnings Call Transcript

Hilton Grand Vacations Inc. (NYSE:NYSE:HGV) Q1 2023 Earnings Conference Call April 26, 2023 11:00 AM ETCompany ParticipantsMark Melnyk - Senior Vice...

seekingalpha.com

 

[dioxide45]

Rentals from the HVC properties have skyrocketed.

Thanks for posting this. I suspect rebranding to Hilton has allowed them to now list them for rent on Hilton.com, thus a lot more rentals. DRI didn't have a branded outlet to rent these resorts.

 

[dayooper]

Thanks for posting this. I suspect rebranding to Hilton has allowed them to now list them for rent on Hilton.com, thus a lot more rentals. DRI didn't have a branded outlet to rent these resorts.

It does. Only rebranded properties can be listed for rental on the Hilton website. The rebranded the best properties 1st.

Additionally, the HVC properties generally have lower rates, sometimes a third less.

 

[Talent312]

• Was asked about more consolidation with other systems. Mark Wang said they are always looking but there isn’t much out there like the DRI purchase

Good.
I'd hate to face more confusing nomenclature,
or deal with another iteration of Max - Max 2.0.


.

 

[dayooper]

Good.
I'd hate to face more confusing nomenclature,
or deal with another iteration of Max - Max 2.0.


.

I think they would name it Maxx. 2 x’s signifies that it’s an even maxier Max thus you should want it even more (and pay even more).

 

[Eric B]

I think they would name it Maxx. 2 x’s signifies that it’s an even maxier Max thus you should want it even more (and pay even more).

They couldn't use Maxxx as the 3 xs would make it adult only. Actually, they could use that and some would like it....

 

[CalGalTraveler]

Max to the Maxx! (Yet another way to part unsuspecting owners from their hard earned money.) ROFL

Seriously, its good that HGVC is doing well. If not they would be coming after resale buyers and reducing quality.

 

[weems637]

Its going to be interesting to see the impact on sales once the boys in the suits try to up sale all the owners that bought into MAX and its 6 month reservation window. Let the #$%@ screaming at the presentations begin!!!

 

[GT75]

Seriously, its good that HGVC is doing well. If not they would be coming after resale buyers and reducing quality.

My thoughts exactly.

 

[GT75]

90,000 Max members. Seems like they are close to doubling every half year. I believe there was a little under 50,000 after quarter 3 of 2022.

Seems like this would include both new and current (upgrades) customers. I would what the breakdown is.

 

[dayooper]

Seems like this would include both new and current (upgrades) customers. I would what the breakdown is.

This was my impression as well. They did not break down the difference between upgraded HGVC and DRI members either. I am curious what those are. I know last fall it was only about 1,900 of the 50,000 Max members that came from DRI. Maybe @youppi has some up to date numbers.

 

[ernststarhemberg]

Glad it's doing well. I foresee more consolidation in the timeshare industry in the coming years. Am genuinely curious how well they (and TS owners) get through the impending economic downturn.

 

[PigsDad]

Seems like this would include both new and current (upgrades) customers. I would what the breakdown is.

Since all new purchases automatically come with Max, couldn't you just extrapolate those numbers by looking at the total membership growth?

Kurt