Hilton Grand Vacations rises on Q1 earnings beat

Hilton Grand Vacations

09/05/2024 15:48

** Timeshare-operator Hilton Grand Vacations' shares  HGV.N 
rise ~2% to $44.20
    ** Co reports Q1 adjusted EPS of 95 cents, above analysts'
estimate of 72 cents - LSEG data
    ** Q1 revenue of $1.16 bln vs estimates of $1.12 bln 
    ** Co reiterates FY 2024 adjusted EBITDA forecast range of
$1.2 bln to $1.26 bln as it focuses on advancing rebranding
plans, explores new growth avenues through partnerships
    ** Jefferies highlights co's "potential upside of the
Bluegreen integration and the prospect of the new partnership
with Great Wolf Lodge"
    ** HGV has been expanding its timeshare property portfolio
through partnerships and acquisitions, including a partnership
with indoor waterpark resorts chain Great Wolf Lodge earlier
this month
    ** HGV acquired peer Bluegreen Vacations for $1.5 billion on
Jan 17
    ** Stock up 8.3% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))