Filing Flows › Hilton Grand Vacations (HGV) › How it makes money
How Hilton Grand Vacations (HGV) makes money
Hilton Grand Vacations (HGV) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +51% from a year earlier. Sales of VOIs, net brought in $1.1B (57%); Resort and club management brought in $196M (10%); Rental and ancillary services brought in $194M (10%). Of every dollar of revenue, 25¢ was left as operating profit, 15¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Sales of VOIs, net | $1.1B | 57.3% | +122% | +138% |
| Resort and club management | $196M | 10.0% | +4% | +2% |
| Rental and ancillary services | $194M | 9.9% | -8% | +4% |
| Cost reimbursements | $153M | 7.8% | +2% | +16% |
| Financing | $149M | 7.6% | +3% | +16% |
| Fee-for-service commissions, package sales and other fees | $145M | 7.4% | -8% | -23% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.0B | 100.0% |
| Operating profit | $492M | 25.1% |
| Income tax | $117M | 6.0% |
| Net earnings | $291M | 14.8% |
| Operating cash flow | $87.0M | 4.4% |
| Free cash flow | $52.0M | 2.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.0B | +51% |
| Q2 2026 | $1.4B | +7% |
| Q1 2026 | $1.3B | +12% |
| Q4 2025 | $1.3B | +4% |
| Q3 2025 | $1.3B | -0.5% |
| Q2 2025 | $1.3B | +2% |
| Q1 2025 | $1.1B | -0.7% |
From Hilton Grand Vacations' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Hilton Grand Vacations make money?
Hilton Grand Vacations (HGV) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +51% from a year earlier. Sales of VOIs, net brought in $1.1B (57%); Resort and club management brought in $196M (10%); Rental and ancillary services brought in $194M (10%). Of every dollar of revenue, 25¢ was left as operating profit, 15¢ was left as net earnings.
What is Hilton Grand Vacations' biggest business?
Sales of VOIs, net: $1.1B in the third quarter 2026, 57% of revenue, +138% from a year earlier.
What is Hilton Grand Vacations' profit margin?
Net earnings were $291M, 14.8% of revenue, in the third quarter 2026; the operating margin was 25.1%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.