Hilton Grand Vacations Inc. (NYSE:HGV) Q3 2021 Earnings Conference Call November 9, 2021 11:00 AM ET Company Participants Mark Melnyk – Vice President-Investor Relations Mark Wang – President and Chief Executive Officer Dan Mathewes – Chief Financial Officer Conference Call Participants Stephen Grambling – Goldman Sachs Patrick Scholes – Truist Securities Brandt Montour – JPMorgan Operator Good morning, and welcome to the Hilton Grand Vacations Third Quarter 2021 Earnings Conference Call. A telephone replay ...

Hilton Grand Vacations Inc. (NYSE:HGV) Q2 2021 Earnings Conference Call July 29, 2021 11:00 AM ET Company Participants Mark Melnyk - VP of IR Mark Wang - President, CEO & Director Dan Matthews - Executive VP & CFO Conference Call Participants David Katz - Jefferies Patrick Scholes - Truist Brandt Montour - JPMorgan Operator Good morning, and welcome to the Hilton Grand Vacations Second Quarter 2021 Earnings Call. A telephone replay will be available for 7 days following the call. The dial-in number is (844) ...

1 2Q21 Investor Update Quarterly Results and Update July 29, 2021 Forward Looking Statements This slide presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management's expectations as to HGV's future, and are based on management's beliefs, expectations, assumptions and such plans, estimates, projections and other information available ...

Performance & Recovery - Open domestic regional markets, like Myrtle Beach, Park City, Hilton Head, and Southern California, showed strong performance, recently exceeding 2019 levels and accounted for 10% of contract sales in 2019[3] - Open domestic destination markets, including Las Vegas and Orlando, experienced a steady recovery with a notable late-quarter uptick and accounted for 40% of contract sales in 2019[5] - Japan demonstrated strong close-rate performance, driving a contract sales rebound and accounted for 12% of contract sales in 2019[6] - Forward bookings are stable at approximately 400,000 and are at 98% of 2019 levels[7] - Forward arrivals are at 91% of 2019 levels[8] Package Sales & Future Tours - 83% of marketing and sampler packages have not yet been booked, indicating a substantial pipeline for future tours[8] - The company's substantial pipeline of prepaid vacation packages will convert to future tours, with 83% still un-booked compared to 81% in the prior year[9] - Package sales trends continue to support the pipeline[10] Acquisition of Diamond Resorts - The acquisition of Diamond Resorts presents a transformational opportunity for the company[11] - The acquisition is expected to generate over $125 million in run-rate cost synergies within the first 24 months following the deal's closure[12] - The acquisition is expected to increase recurring EBITDA streams and drive overall cash flow, with adjusted free cash flow per share accretion in year one[12]

Financial Data and Key Metrics Changes - Total first quarter revenue was $267 million, up 15% sequentially from the fourth quarter [24] - Reported adjusted EBITDA was $60 million, reflecting sequential top line improvement and a material improvement in EBITDA margins [24] - Net income for the quarter was $11 million [25] - The provision for bad debt was $16 million, with an overall allowance on the balance sheet of $270 million or 18% of gross financing receivables [26] Business Line Data and Key Metrics Changes - Total contract sales for the quarter were $139 million, or 57% of the prior year, with tour flow at 42% of the prior year [25] - VPG was up 33% year-over-year and improved sequentially by 8% [25] - Rental and ancillary revenues were $32 million, up 60% from Q4 due to improved travel activity [27] Market Data and Key Metrics Changes - Contract sales in regional markets were nearly 15% higher than 2019 levels [11] - Orlando saw a 16% sequential growth, while Las Vegas properties recovered to nearly 40% of their 2019 contract sales levels [11] - In Japan, contract sales were at 70% of 2019 levels due to lockdowns and travel restrictions [12] Company Strategy and Development Direction - The company is optimistic about the recently announced transaction with Diamond Resorts, which is expected to bring significant scale and product diversity [19] - The focus remains on domestic leisure travel, with expectations for continued recovery as vaccination rates increase [18] - The company plans to enhance its marketing strategies and improve performance through rebranding and cross-selling opportunities post-acquisition [69] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery trends, particularly in Las Vegas and Orlando, while acknowledging risks in Hawaii due to ongoing travel restrictions [34] - The company expects a modestly better Q2, with a sharper ramp in Q3 and Q4, but does not anticipate returning to 2019 levels until 2022 [40] - The management highlighted the importance of monitoring international travel restrictions, particularly from Japan, which could impact future performance [34] Other Important Information - The company has filed its initial antitrust regulatory submission for the Diamond Resorts transaction and is in the process of arranging permanent financing [18] - The liquidity position as of March 31 included $400 million of unrestricted cash and $139 million available under the revolving credit facility [29] Q&A Session All Questions and Answers Question: How to model the back half of the year considering positive data points? - Management acknowledged the positive recovery but cautioned about high comparisons on VPG and the need to monitor international travel restrictions [33][34] Question: Is there a rule of thumb for how a point of conversion may correspond to margin improvement? - Management indicated that while there is considerable flow-through from VPG improvements, the current environment's volatility makes it difficult to provide a blanket rule [42][43] Question: What should be considered in the 5-year revenue and EBITDA outlook? - Management emphasized that 2021 is a recovery year, with expectations to return to 2019 levels in 2022, and highlighted the importance of inventory spend as a sensitivity factor [45][48] Question: How will the acquisition impact marketing channels? - Management expressed excitement about the potential for revenue synergies and improved performance through rebranding and innovative marketing strategies post-acquisition [51][69] Question: What percentage of Diamond customers fit into the HGV product profile? - Management noted that Diamond's customer quality is good, with FICO scores slightly below HGV's, and highlighted the potential for cross-selling opportunities [74]

Hilton Grand Vacations Inc. (NYSE:HGV) Q4 2020 Earnings Conference Call March 1, 2021 11:00 AM ET Company Participants Mark Melnyk - Vice President-Investor Relations Mark Wang - President and Chief Executive Officer Dan Mathewes - Chief Financial Officer Conference Call Participants Patrick Scholes - Truist Securities Ben Chaiken - Credit Suisse David Katz - Jefferies Brandt Montour - JPMorgan Stephen Grambling - Goldman Sachs Operator Good morning, and welcome to Hilton Grand Vacations Fourth Quarter 2020 ...

1 4Q20 Investor Update Quarterly Results and Update March 1, 2021 This slide presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management's expectations as to HGV's future, and are based on management's beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time ...

Hilton Grand Vacations, Inc. (NYSE:HGV) Q3 2020 Earnings Conference Call October 29, 2020 11:00 AM ET Company Participants Mark Melnyk – Vice President-Investor Relations Mark Wang – President and Chief Executive Officer Dan Mathewes – Chief Financial Officer Conference Call Participants Jared Shojaian – Wolfe Research Stephen Grambling – Goldman Sachs Patrick Scholes – Truist Securities Brandt Montour – JP Morgan David Katz – Jefferies Operator Good morning, and welcome to Hilton Grand Vacations Third Qua ...

3Q20 INVESTOR UPDATE Q U A R T E R L Y R E S U L T S A N D U P D A T E 0 O C TO B E R 2 9 , 2 0 2 0 HILTON GRAND VACATIONS This slide presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management's expectations as to HGV's future, and are based on management's beliefs, expectations, assumptions and such plans, estimates, projections a ...

Strategic Initiatives - Hilton Grand Vacations executed a $300 million term securitization at favorable terms to bolster liquidity[4, 11] - The company expanded virtual sales and work-from-home capabilities[4] - Hilton Grand Vacations launched sales of the new Maui Bay Villas project[4] Financial Flexibility - Available liquidity was $836 million[11] - Available liquidity covers 22 months[11] - A $300 million term securitization was completed at a 91% advance rate and a funding rate of 366%[4, 11] Embedded Value - Significant embedded value remains even in a topline pause scenario, totaling $36 billion[16] - Financing margin is 69%[16] - Club and Resort Management margin is 76%[16] - Real Estate margin is 29%[17] Future Bookings - Six-month forward club and owner arrivals are at 91% of prior year levels[19] - Six-month forward consolidated arrivals are at 70% of prior year levels[22] - 92% of marketing and sampler packages have not yet been booked[20, 23] Deferral Requests - Deferral requests represent only 2% of the portfolio balance[25]