First Quarter Results

[HuskerATL]

Looks like increased membership and earnings for Q1.

Hilton Grand Vacations Reports Record First Quarter Results, Raises Full Year Outlook and Cost Synergy Target, and Announces Share Repurchase Program

Hilton Grand Vacations Reports Record First Quarter Results, Raises Full Year Outlook and Cost Synergy Target, and Announces Share Repurchase Program

www.businesswire.com

 

[CalGalTraveler]

Did anyone attend the Investor call today? Would love a recap. Especially pertaining to MAX and Diamond comments.

Conference Call

Hilton Grand Vacations will host a conference call on May 9, 2022, at 11 a.m. (ET) to discuss first quarter results.

To access the live teleconference, please dial 1-877-407-0784 in the U.S./Canada (or +1-201-689-8560 internationally) approximately 15 minutes prior to the teleconference’s start time. A live webcast will also be available by logging onto the HGV Investor Relations website at https://investors.hgv.com.

In the event of audio difficulties during the call on the toll-free number, participants are advised that accessing the call using the +1-201-689-8560 dial-in number may bypass the source of audio difficulties.

A replay will be available within 24 hours after the teleconference’s completion through May 16, 2022. To access the replay, please dial 1-844-512-2921 in the U.S. (+1-412-317-6671 internationally) using ID# 13726009. A webcast replay and transcript will also be available within 24 hours after the live event at https://investors.hgv.com.

 

[CalGalTraveler]

Below is a presentation from the site:

https://s27.q4cdn.com/757306400/files/doc_financials/2022/q1/FINAL-Q122-Slides.pdf

 

[HuskerATL]

Below is a presentation from the site:

https://s27.q4cdn.com/757306400/files/doc_financials/2022/q1/FINAL-Q122-Slides.pdf

Thanks for sharing this. These are interesting to see.

 

[Talent312]

Lots of colorful diagrams and pics.
Little concrete information.
Ho-Hum.

 

[HuskerATL]

Lots of colorful diagrams and pics.
Little concrete information.
Ho-Hum.

it does tell you what they are trying to sell the investors though and shows the whole picture of Max.

 

[dayooper]

Did anyone attend the Investor call today? Would love a recap. Especially pertaining to MAX and Diamond comments.

Here is the call transcript from today. Not much new for those of us here.

Hilton Grand Vacations Inc. (HGV) Q1 2022 Earnings Call Transcript | The Motley Fool

HGV earnings call for the period ending March 31, 2022.

www.fool.com

 

[ocdb8r]

There are a few small nuggets in the presentation:

• Slide 13 - they clearly intend to continue selling deeds ("deed based points), which would have to be HGVC or bHC resorts as Diamond is all trust based (I think we already knew this but there seemed to be a fair amount of speculation in the HGVMax thread that they were trying to transition to all trust based points);
• Slide 10 - shows fours Embarc resorts to be "rebranded" in 2022 (three in Canada and Sandestin in FL) - and no mention of "Embarc" remaining in the branding;
• Slide 10 - Miami showing as one of the resorts to be rebranded this year. Curious how that will look given it's next door to the HGVC at McAlpin

 

[GT75]

Slide 10 - shows fours Embarc resorts to be "rebranded" in 2022 (three in Canada and Sandestin in FL) - and no mention of "Embarc" remaining in the branding;

Just because something is rebranded as HVC, doesn't mean that will be part of HGV Max (or at least that is how I interpret this with the statement below).

this is from the HGVC FAQ on HGV Max.

 

[PigsDad]

The one positive thing I took out of the slide was how they are still planning on keeping three distinct collections:

And the clarification that MAX is just the link between the collections, not a collection itself:

To me, as an owner who does not plan on "buying in" or "joining" MAX, I think this is good news. There was speculation that new resorts built in the future would only be available to MAX members, but taking these slides at face value, it looks like new resorts would be placed into one of the three "collections". So if a new resort was placed into the Hilton Club or Hilton Grand Vacations Club, all members who currently have access to those collections would have access to new resorts that are added to those collections.

The main point is that there is no "MAX Collection". Maybe I'm naïve, but I think this makes sense and is certainly good news for existing HGV owners.

Kurt

 

[Wright17s]

The one positive thing I took out of the slide was how they are still planning on keeping three distinct collections:

View attachment 54384

And the clarification that MAX is just the link between the collections, not a collection itself:

View attachment 54386

To me, as an owner who does not plan on "buying in" or "joining" MAX, I think this is good news. There was speculation that new resorts built in the future would only be available to MAX members, but taking these slides at face value, it looks like new resorts would be placed into one of the three "collections". So if a new resort was placed into the Hilton Club or Hilton Grand Vacations Club, all members who currently have access to those collections would have access to new resorts that are added to those collections.

The main point is that there is no "MAX Collection". Maybe I'm naïve, but I think this makes sense and is certainly good news for existing HGV owners.

Kurt

I was thinking the same thing... I also think it's a bit absurd that they want to charge Hilton Club and Hilton Grand Vacations Club members obscene amounts of money to essentially access the "value" Diamond properties ( now branded as Hilton Vacation Club ). Potentially the other way around would seem more logical.

 

[HuskerATL]

The one positive thing I took out of the slide was how they are still planning on keeping three distinct collections:

View attachment 54384

And the clarification that MAX is just the link between the collections, not a collection itself:

View attachment 54386

To me, as an owner who does not plan on "buying in" or "joining" MAX, I think this is good news. There was speculation that new resorts built in the future would only be available to MAX members, but taking these slides at face value, it looks like new resorts would be placed into one of the three "collections". So if a new resort was placed into the Hilton Club or Hilton Grand Vacations Club, all members who currently have access to those collections would have access to new resorts that are added to those collections.

The main point is that there is no "MAX Collection". Maybe I'm naïve, but I think this makes sense and is certainly good news for existing HGV owners.

Kurt

This is along the line of the diagram the sales person drew for us with the three circles and just saying that Max would have access to them via an exchange. He didn't mention Max as being a separate collection but just a portal to the others. I think it will just be a portal that Max folks log into and have the ability to exchange their ownership/points into another collection. That is all it is except the Max Tiers....and those benefits.

 

[escanoe]

Time will tell. I don’t think we know much more than we did.

 

[PigsDad]

Time will tell. I don’t think we know much more than we did.

Perhaps, but it is nice to see some of these detail published from HGV corporate, and not just some sales material printed up by the sales organization.

Kurt

 

[PigsDad]

That is all it is except the Max Tiers....and those benefits.

But for people who don't buy into MAX, there are still the Elite tiers, which at least for the Elite Premier (54K+ points), are better benefits, IMO, than the equivalent MAX benefits.

Kurt

 

[HuskerATL]

But for people who don't buy into MAX, there are still the Elite tiers, which at least for the Elite Premier (54K+ points), are better benefits, IMO, than the equivalent MAX benefits.

Kurt

There are a few Max Premier + benefits that are better than the Elite Premier though such as the $100 resort credit, 10% Hilton stays discount, the legacy program (this one I really like), and the loyalty search request (based on how it actually works) but we don't really know what will be in the Tiers until it is published.

 

[CalGalTraveler]

Not sure about the 10% off Hilton stays because those are off of rack rate. May do better with AAA discount. Time will tell.

We get a (20%?) discount with Westin for stays at TS resorts, however this is off of rack rate which is extremely high and there is little availability due to owner bookings. We've never used it. We tend to use our ownership or apply Bonvoy points instead.

 

[HuskerATL]

For those that don't know, the Legacy Program allows you to create sub-accounts and allocate a minimum of 5,000 points into each. Premier+ allows up to 4. So you can set up accounts for your kids and they use the account as they wish. I really like the idea of that plus Premier + as a $700 OS credit and access to HGV Ultimate Access with the 2nd highest priority...not sure if we would use this but it is interesting.

 

[PigsDad]

There are a few Max Premier + benefits that are better than the Elite Premier though such as the $100 resort credit, 10% Hilton stays discount, the legacy program (this one I really like), and the loyalty search request (based on how it actually works) but we don't really know what will be in the Tiers until it is published.

The Elite Premier benefits that really pack a punch are the (unlimited) 30% off Open Season (which can be quite the bargain), unlimited free transactions for reservations, saving points, guest certificates (unlimited, not a limited number as w/ Max), etc. and the $250 Lyft credit per year (which I think Max Premier+ has as well). I'm skeptical about the 10% Hilton Hotels discount being much of a benefit, as we can easily get that same discount w/ AAA or AARP.

Both provide a good set of benefits, but (at least for now) the annual membership fee is about $100 more for Max, so that wipes out the $100 resort credit. Close, but I think Elite Premier edges out, IMO. But bottom line is that for me, it is definitely not worth spending tens of thousands just so I can be "eligible" for Max. Nope. No way.

Kurt

 

[90_Min_Sales_Pitch]

The one positive thing I took out of the slide was how they are still planning on keeping three distinct collections:

View attachment 54384

And the clarification that MAX is just the link between the collections, not a collection itself:

View attachment 54386

Definitely a relief to see. We want to access to future HGVC properties, not have to pay extra for a 6 month booking windows into them.

I wonder if future Trust based acquisitions will merged into HVC?

 

[dayooper]

There are a few small nuggets in the presentation:

• Slide 10 - shows fours Embarc resorts to be "rebranded" in 2022 (three in Canada and Sandestin in FL) - and no mention of "Embarc" remaining in the branding;

They are actually showing more than that. Sandestin, Palm Desert, Trembant and Blue Mountain all have 1 resort. The Vancouver/ Whistler area has 3 (Vancouver, Whistler and Ucluelet). That's 7 resorts. They have 2 more (One by Calgary and another in Mexico). I think (maybe hope?) that they are using those as a marketing tool for new markets and won't be included in DRI but as external exchange resorts. The 13 new branded sales center not include them. This is what I have:

Los Cabos - Cabo Azul
St Maarten - Flamingo Beach Club
Miami? - Crescent Resort?
Orlando - Mystic Dunes (On the non - member HGVC website)
Virginia Beach - Ocean Aire (On the non - member HGVC website)
Williamstown - Historic Powhatan (On the non - member HGVC website)
Tennessee - Bent Creek
Scottsdale - Scottsdale Creek, Scottsdale Villa Mirage (On the non - member HGVC website)
Sedona - Sedona Summit, Ridge on Sedona (On the non - member HGVC website)
Tahoe - Lake Tahoe Resort (On the non - member HGVC website)
Kauai - Point at Poipu

Non Member Website

These 13 resorts must be the 13 that were referred to in the opening statement. No Embarc possible. Some of them are already on the non member website. Mystic Dunes, Ocean Aire and Powhatan are not on the DRI website. They are not on my member pages, but I don't have Max.