Hilton Grand Vacations 2Q Revenue Nearly Triples on Strong Travel Demand
[ad_1]
By Will Feuer
Hilton Grand Vacations Inc.’s second-quarter revenue nearly tripled as demand for travel remained strong.
The timeshare company posted net income of $73 million, compared with $9 million a year earlier. Earnings were 60 cents a share, compared with 10 cents a share a year earlier.
The current quarter included a $16 million charge related to litigation settlements, Hilton Grand Vacations said.
Revenue surged to $948 million from $334 million a year earlier. Contract sales rose to $617 million from $259 million. Analysts surveyed by FactSet were expecting revenue of $951.4 million.
“Travel trends remain strong among consumers, and the value proposition of our offering stands out in the current economic environment,” Chief Executive Mark Wang said.
Write to Will Feuer at Will.Feuer@wsj.com
[ad_2]
Source link
