Hilton Grand Vacations Enters into Second Amended License Agreement with Hilton Worldwide Holdings Inc.

On November 6, 2024, Hilton Grand Vacations Inc. (HGV) announced the signing of the Second Amended and Restated License Agreement with Hilton Worldwide Holdings Inc. This new agreement, known as the “Amended License Agreement,” supersedes the existing First Amended License Agreement dated March 10, 2021. It also incorporates adjustments made in the First, Second, and Third Amendments to the initial agreement.

The Amended License Agreement outlines various modifications, predominantly centered around integrating Bluegreen Vacations Holding Corporation, which HGV acquired in January 2024. These adjustments mirror the strategies implemented during the integration of Diamond Resorts International, Inc. Acquisition.

Key aspects of the newly revised agreement include a rebranding initiative for Bluegreen properties under the HGV umbrella, an escalated royalty fee should specific room conversion targets not be met, and clauses relating to Bluegreen’s marketing arrangement with Choice Hotels International, Inc. The agreement incorporates prior understandings from the previous amendments and confirms the fulfillment of conditions detailed in the Third Amendment.

The agreement’s full details are available in the filed Amended License Agreement, included as Exhibit 10.1 in the Current Report on Form 8-K. Additional information can be found in the Cover Page Interactive Data File integrated into the Inline XBRL document as Exhibit 104.

This report is presented in accordance with the Securities Exchange Act of 1934 and is officially signed by Charles R. Corbin, Executive Vice President, General Counsel, and Secretary of Hilton Grand Vacations Inc., on November 8, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hilton Grand Vacations’s 8K filing here.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc, a timeshare company, develops, markets, sells, manages, and operates the resorts, plans and ancillary reservation services under the Hilton Grand Vacations brand. It operates through Real Estate Sales and Financing, and Resort Operations and Club Management segments. Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements with third-party developers; and provides consumer financing and services loans.