Filing Flows › Hilton Grand Vacations (HGV) › Q3 2026 › vs Q3 2025
Hilton Grand Vacations (HGV) Q3 2026 vs Q3 2025 (year over year)
Hilton Grand Vacations's revenue rose $661M (+51%) from $1.3B in Q3 2025 to $2.0B in Q3 2026. The biggest changes: Sales of VOIs, net +$651M (+138%); Fee-for-service commissions, package sales and other fees −$43.0M (-23%); Cost reimbursements +$21.0M (+16%). Operating margin 25.1% against 9.3% (+15.8 pts).
Hilton Grand Vacations, Q3 2026: revenue $2.0B (+51% year over year), operating margin 25.1%, net earnings $291M, operating cash flow $87.0M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 25.1% | 9.3% | +15.8 pts |
| Net margin | 14.8% | 1.9% | +12.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Sales of VOIs, net | $1.1B | $473M | $651M | +138% |
| Resort and club management | $196M | $193M | $3.0M | +2% |
| Rental and ancillary services | $194M | $186M | $8.0M | +4% |
| Cost reimbursements | $153M | $132M | $21.0M | +16% |
| Financing | $149M | $128M | $21.0M | +16% |
| Fee-for-service commissions, package sales and other fees | $145M | $188M | −$43.0M | -23% |
| Revenue | $2.0B | $1.3B | $661M | +51% |
| Operating profit | $492M | $121M | $371M | +307% |
| Costs & expenses | $1.5B | $1.2B | $290M | +25% |
| Pre-tax earnings | $414M | $45.0M | $369M | +820% |
| Other expense, net | $78.0M | $76.0M | $2.0M | +3% |
| General & admin | $76.0M | $58.0M | $18.0M | +31% |
| Other operating costs | $1.4B | $1.1B | $272M | +24% |
| Net earnings | $291M | $25.0M | $266M | 12× |
| Minority interests | $6.0M | $5.0M | $1.0M | +20% |
| Income tax | $117M | $15.0M | $102M | +680% |
| Operating cash sources | $381M | $111M | $270M | +243% |
| Depreciation & amortization | $70.0M | $67.0M | $3.0M | +4% |
| Share-based compensation | $20.0M | $19.0M | $1.0M | +5% |
| Working capital & other | $294M | $77.0M | $217M | +282% |
| Operating cash flow | $87.0M | $34.0M | $53.0M | +156% |
Questions
How much did Hilton Grand Vacations's revenue grow year over year in Q3 2026?
Hilton Grand Vacations's revenue rose $661M (+51%) from $1.3B in Q3 2025 to $2.0B in Q3 2026.
What drove Hilton Grand Vacations's revenue change in Q3 2026?
Sales of VOIs, net +$651M (+138%); Fee-for-service commissions, package sales and other fees −$43.0M (-23%); Cost reimbursements +$21.0M (+16%).