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HGVC Suspends Sales Operations

Talent312

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Shall we shed a tear?

From www.seekingalpha.com --
Hilton Grand Vacations (HGV) to suspend its U.S. sales operations, while sales operations in Japan and South Korea to remain open on a limited basis.

The company has closed several of its resorts and will temporarily pause new reservations at its U.S., Europe, and Barbados resorts through the end of April.

The company collected ~90% of member fees for FY20, which funds all of the operational costs of resorts.

At the end of February, the company's leverage ratio was 1.59x and the Company had just over $1B in liquidity, including $102M of unrestricted cash, $485M of availability on an $800M revolving credit facility, and an undrawn $450M warehouse facility.
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TUGBrian

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saw articles today from both bluegreen and westgate saying the same!
 

Cyberc

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Do we know if HGVC employees at the resorts are getting paid while sent home?

it would be the right thing to do, but I don’t know if hgvc are doing it.

if they don’t I would assume owners are Getting lower dues for 2021.
 

1Kflyerguy

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Wonder how this affects construction projects like Kehei and Ocean Towers?

I think the construction status will vary by location based on local rules. I am based in the SF Bay Area, and construction is now considered non-essential and thus ordered stopped. Not certain but think Hawaii has similar guidelines for their Shelter in Place orders.
 

frank808

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Disney Vacation Club (Aulani,SSR,VGC,VGF) Hilton Grand Vacation Club(Bay Club, Kohala Suites, The District) Marriott Vacation Club (Aruba Surf Club, Grand Residence, Grand Chateau, Grand Vista,Harbour Lake, KoOlina,Willow Ridge & DC points)
I think the construction status will vary by location based on local rules. I am based in the SF Bay Area, and construction is now considered non-essential and thus ordered stopped. Not certain but think Hawaii has similar guidelines for their Shelter in Place orders.
Hawaii considers construction essential personnel. It is pretty laughable as there is a lot of "essential" personnel. Working at a hotel is considered essential. Problem is a lot of hotels are closed because of a lack of tourists.

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1Kflyerguy

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Hawaii considers construction essential personnel. It is pretty laughable as there is a lot of "essential" personnel. Working at a hotel is considered essential. Problem is a lot of hotels are closed because of a lack of tourists.

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Thanks for the clarification. Every state or even country has different rules.
 
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