Hilton Grand Vacations debuts as public company
Leading global timeshare company Hilton Grand Vacations (HGV), has begun life as an independent, publicly traded company following its spin-off from Hilton.
On 4 January 2017, HGV began “regular way” trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “HGV.”
Mark Wang, HGV’s president and chief executive officer, said: “Since its founding 25 years ago, HGV has been an industry-leading timeshare business with a track record of best-in-industry growth. Becoming an independent, public company is a milestone that launches the exciting next phase in our company’s journey.”
“I look forward to HGV’s continued success as we deploy our experienced management team, dedicated strategies and capital to take advantage of future opportunities. I am excited about our ability to maximize the value we deliver to our loyal members and shareholders and to embark on this journey with more than 8,000 HGV Team Members across the globe.”
Established in 1992 and with headquarters in Orlando, Florida, HGV is a rapidly-growing timeshare company that markets and sells vacation ownership intervals, manages resorts in top leisure and urban destinations and operates a points-based vacation club for more than 260,000 members.
HGV’s 47 high-quality resorts are located in iconic vacation destinations, including the Hawaiian Islands, New York City, Orlando and Las Vegas, featuring condominium-style accommodation with superior amenities and Hilton-quality service. The company has a longstanding affiliation agreement with RCI.
“We will continue to leverage our capital-efficient business model to invest strategically and expand globally, delivering exemplary service and exceptional vacation experiences,” added Wang.
HGV maintains strong connections with the Hilton brand, operating with an exclusive, 100-year license agreement to market, sell and operate resorts under the Hilton Grand Vacations brand. HGV members will continue to have access to more than 4,800 Hilton hotels and the HHonors benefits program.
HGV recently announced its executive team and Board of Directors, including:
- Mark Wang, president, chief executive officer and a director
- James Mikolaichik, chief financial officer
- Michael Brown, chief operating officer
- Charles Corbin, chief legal officer
- Barbara Hollkamp, chief human resources officer
- Stan Soroka, chief customer officer
On 10 January 2017, a group of HGV executives and team members will celebrate the spin-off by ringing the opening bell at the New York Stock Exchange at 9:30am local time. Footage of the bell ringing will be available live on NYSE’s website.