Hilton Grand Vacations (HGV) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Cover [Abstract]
Entity Registrant Name	Hilton Grand Vacations Inc.
Entity Central Index Key	0001674168
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		85,752,632
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	HGV
Security Exchange Name	NYSE
Entity Shell Company	false
Entity File Number	001-37794
Entity Tax Identification Number	81-2545345
Entity Address, Address Line One	6355 MetroWest Boulevard
Entity Address, Address Line Two	Suite 180
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32835
City Area Code	407
Local Phone Number	613-3100
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 318	$ 428
Restricted cash	1,462	98
Accounts receivable, net of allowance for doubtful accounts of $19 and $20	220	119
Timeshare financing receivables, net	927	974
Inventory	730	702
Property and equipment, net	508	501
Operating lease right-of-use assets, net	45	52
Investments in unconsolidated affiliates	57	51
Intangible assets, net	80	81
Land and infrastructure held for sale	41	41
Other assets	119	87
TOTAL ASSETS (variable interest entities - $686 and $800)	4,507	3,134
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	335	252
Advanced deposits	117	117
Debt, net	2,431	1,159
Non-recourse debt, net	650	766
Operating lease liabilities	59	67
Deferred revenues	372	262
Deferred income tax liabilities	147	137
Total liabilities (variable interest entities - $654 and $771)	4,111	2,760
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of June 30, 2021 and December 31, 2020
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 85,537,477 shares issued and outstanding as of June 30, 2021 and 85,205,012 shares issued and outstanding as of December 31, 2020	1	1
Additional paid-in capital	212	192
Accumulated retained earnings	183	181
Total equity	396	374
TOTAL LIABILITIES AND EQUITY	$ 4,507	$ 3,134

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts receivable	$ 19	$ 20
Assets, variable interest entity	4,507	3,134
Liabilities, variable interest entity	$ 4,111	$ 2,760
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized	300,000,000	300,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common Stock, shares issued (in shares)	85,752,632	85,205,012
Common Stock, shares outstanding (in shares)	85,752,632	85,205,012
Variable Interest Entities
Assets, variable interest entity	$ 686	$ 800
Liabilities, variable interest entity	$ 654	$ 771

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Total revenues	$ 334,000,000	$ 123,000,000	$ 569,000,000	$ 474,000,000
Expenses
General and administrative	44,000,000	22,000,000	80,000,000	43,000,000
Depreciation and amortization	12,000,000	11,000,000	23,000,000	23,000,000
Impairment expense			1,000,000
Total operating expenses	308,000,000	165,000,000	542,000,000	502,000,000
Interest expense	(17,000,000)	(12,000,000)	(32,000,000)	(22,000,000)
Equity in earnings from unconsolidated affiliates	4,000,000	1,000,000	6,000,000	4,000,000
Other (loss) gain, net	(1,000,000)	(3,000,000)	(2,000,000)	(1,000,000)
(Loss) income before income taxes	12,000,000	(56,000,000)	(1,000,000)	(47,000,000)
Income tax benefit (expense)	3,000,000	(8,000,000)	(3,000,000)	(7,000,000)
Net (loss) income	$ 8,700,776	$ (47,751,330)	$ 1,929,361	$ (39,924,584)
(Loss) earnings per share:
Basic	$ 0.10	$ (0.56)	$ 0.02	$ (0.47)
Diluted	$ 0.10	$ (0.56)	$ 0.02	$ (0.47)
Sales of VOIs, Net
Revenues
Total revenues	$ 76,000,000		$ 109,000,000	$ 56,000,000
Sales, Marketing, Brand and Other Fees
Revenues
Total revenues	81,000,000	13,000,000	134,000,000	119,000,000
Financing
Revenues
Total revenues	37,000,000	43,000,000	74,000,000	87,000,000
Expenses
Expenses	11,000,000	13,000,000	24,000,000	26,000,000
Resort and Club Management
Revenues
Total revenues	48,000,000	39,000,000	93,000,000	83,000,000
Expenses
Expenses	11,000,000	6,000,000	19,000,000	18,000,000
Rental and Ancillary Services
Revenues
Total revenues	54,000,000	5,000,000	86,000,000	57,000,000
Expenses
Expenses	36,000,000	24,000,000	67,000,000	61,000,000
Cost Reimbursements
Revenues
Total revenues	38,000,000	23,000,000	73,000,000	72,000,000
Expenses
Expenses	38,000,000	23,000,000	73,000,000	72,000,000
Cost of VOI Sales
Expenses
Expenses	21,000,000	1,000,000	24,000,000	13,000,000
Sales and Marketing
Expenses
Expenses	116,000,000	61,000,000	198,000,000	218,000,000
License Fee Expense
Expenses
Expenses	$ 19,000,000	$ 6,000,000	$ 33,000,000	$ 28,000,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($)		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net income (loss)		$ 1,929,361	$ (39,924,584)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		23,000,000	23,000,000
Amortization of deferred financing costs, contract costs, and other		10,000,000	9,000,000
Provision for financing receivables losses	[1]	28,000,000	45,000,000
Impairment expense		1,000,000
Other loss, net		2,000,000	1,000,000
Share-based compensation		18,000,000	4,000,000
Deferred income tax expense (benefit)		9,000,000	(31,000,000)
Equity in earnings from unconsolidated affiliates		(6,000,000)	(4,000,000)
Net changes in assets and liabilities:
Accounts receivable, net		(101,000,000)	100,000,000
Timeshare financing receivables, net		18,000,000	58,000,000
Inventory		(29,000,000)	(36,000,000)
Purchases and development of real estate for future conversion to inventory		(17,000,000)	(19,000,000)
Other assets		(35,000,000)	(33,000,000)
Accounts payable, accrued expenses and other		59,000,000	72,000,000
Advanced deposits		0	1,000,000
Deferred revenues		110,000,000	82,000,000
Net cash provided by operating activities		92,000,000	88,000,000
Investing Activities
Capital expenditures for property and equipment		(4,000,000)	(4,000,000)
Software capitalization costs		(9,000,000)	(11,000,000)
Net cash used in investing activities		(13,000,000)	(15,000,000)
Financing Activities
Issuance of debt		1,350,000,000	495,000,000
Issuance of non-recourse debt		0	495,000,000
Repayment of debt		(55,000,000)	(60,000,000)
Repayment of non-recourse debt		(118,000,000)	(313,000,000)
Debt issuance costs		(3,000,000)	(6,000,000)
Repurchase and retirement of common stock		0	(10,000,000)
Payment of withholding taxes on vesting of restricted stock units		(5,000,000)	(2,000,000)
Proceeds from employee stock plan purchases		1,000,000
Proceeds from stock option exercises		6,000,000
Other financing activity		(1,000,000)	(1,000,000)
Net cash provided by financing activities		1,175,000,000	598,000,000
Net increase in cash, cash equivalents and restricted cash		1,254,000,000	671,000,000
Cash, cash equivalents and restricted cash, beginning of period		526,000,000	152,000,000
Cash, cash equivalents and restricted cash, end of period		1,780,000,000	823,000,000
Supplementary disclosure of non-cash operating activities:
Non-cash transfer from Inventory to Property and Equipment		$ 0	$ 301,000,000
[1]	Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (UNAUDITED) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Retained Earnings
Beginning balance, value at Dec. 31, 2019	$ 570,000,000	$ 1,000,000	$ 179,000,000	$ 390,000,000
Beginning balance, shares at Dec. 31, 2019		85,000,000
Net income (loss)	8,000,000			8,000,000
Activity related to share-based compensation	(5,000,000)		(5,000,000)
Repurchase and retirement of common stock	(10,000,000)		(2,000,000)	(8,000,000)
Repurchase and retirement of common stock, shares		1,000,000
Ending balance, value at Mar. 31, 2020	563,000,000	$ 1,000,000	172,000,000	390,000,000
Ending balance, shares at Mar. 31, 2020		84,000,000
Beginning balance, value at Dec. 31, 2019	570,000,000	$ 1,000,000	179,000,000	390,000,000
Beginning balance, shares at Dec. 31, 2019		85,000,000
Net income (loss)	(39,924,584)
Ending balance, value at Jun. 30, 2020	523,000,000	$ 1,000,000	180,000,000	342,000,000
Ending balance, shares at Jun. 30, 2020		84,000,000
Beginning balance, value at Mar. 31, 2020	563,000,000	$ 1,000,000	172,000,000	390,000,000
Beginning balance, shares at Mar. 31, 2020		84,000,000
Net income (loss)	(47,751,330)			(48,000,000)
Activity related to share-based compensation	8,000,000		8,000,000
Ending balance, value at Jun. 30, 2020	523,000,000	$ 1,000,000	180,000,000	342,000,000
Ending balance, shares at Jun. 30, 2020		84,000,000
Beginning balance, value at Dec. 31, 2020	$ 374,000,000	$ 1,000,000	192,000,000	181,000,000
Beginning balance, shares at Dec. 31, 2020	85,205,012	84,000,000
Net income (loss)	$ (7,000,000)			(7,000,000)
Activity related to share-based compensation	2,000,000		2,000,000
Ending balance, value at Mar. 31, 2021	369,000,000	$ 1,000,000	194,000,000	174,000,000
Ending balance, shares at Mar. 31, 2021		84,000,000
Beginning balance, value at Dec. 31, 2020	$ 374,000,000	$ 1,000,000	192,000,000	181,000,000
Beginning balance, shares at Dec. 31, 2020	85,205,012	84,000,000
Net income (loss)	$ 1,929,361
Ending balance, value at Jun. 30, 2021	$ 396,000,000	$ 1,000,000	212,000,000	183,000,000
Ending balance, shares at Jun. 30, 2021	85,752,632	85,000,000
Beginning balance, value at Mar. 31, 2021	$ 369,000,000	$ 1,000,000	194,000,000	174,000,000
Beginning balance, shares at Mar. 31, 2021		84,000,000
Net income (loss)	8,700,776			9,000,000
Activity related to share-based compensation	18,000,000		18,000,000
Activity related to share based compensation shares		1,000,000
Ending balance, value at Jun. 30, 2021	$ 396,000,000	$ 1,000,000	$ 212,000,000	$ 183,000,000
Ending balance, shares at Jun. 30, 2021	85,752,632	85,000,000

Organization

Organization	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Note 1: Organization Our Business Hilton Grand Vacations Inc. (“Hilton Grand Vacations,” “we,” “us,” “our,” “HGV” or the “Company”) is a global timeshare company engaged in developing, marketing, selling and managing timeshare resorts primarily under the Hilton Grand Vacations brand. Our operations primarily consist of: selling vacation ownership intervals (“VOIs”) for us and third parties; financing and servicing loans provided to consumers for their timeshare purchases; operating resorts; and managing our points-based Hilton Grand Vacations Club and Hilton Club exchange program (collectively the “Club”). As of June 30, 2021, we had 62 properties, comprised of 500,968 VOIs, located in the United States (“U.S.”), Japan, the United Kingdom, Italy, Barbados and Mexico. A significant number of our properties and VOIs are concentrated in Florida, Hawaii, Nevada, New York, and South Carolina.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2: Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements presented herein include 100 percent of our assets, liabilities, revenues, expenses and cash flows as well as all entities in which we have a controlling financial interest. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. All material intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Although we believe the disclosures made are adequate to prevent information presented from being misleading, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2020, included in our Annual Report on Form 10-K filed with the SEC on March 1, 2021. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and, accordingly, ultimate results could differ from those estimates. Interim results are not necessarily indicative of full year performance. Impact of the COVID-19 Pandemic The novel coronavirus (“COVID-19”) pandemic that started in early 2020 significantly negatively impacted the hospitality, travel and leisure industries due to various mandates and orders to close non-essential businesses, impose travel restrictions, require “stay-at-home” and/or self-quarantine. Such restrictions and directives have resulted in cancellations and significant reductions in travel around the world and caused various other negative global economic conditions. In response to these events, we closed substantially all of our resorts and sales centers during early 2020, but began a phased reopening of resorts and resumption of our business activities during the second quarter of 2020 under new operating guidelines and with enhanced safety measures as mandates and orders for business closures, quarantine and travel restrictions began to ease. With the expectation that the pandemic will continue to recede as COVID-19 vaccinations become more widespread, such mandates and orders have continued to ease, resulting in increasing consumer confidence in resuming normal activities, including travel and leisure, and more businesses resuming normal operations. Accordingly, the positive trends in leisure travel and stays at our properties have continued. For example, as of June 30, 2021, nearly all of our resorts and sales centers which previously closed due to the COVID-19 pandemic are open and operating, although some are still operating in markets with various capacity constraints, social distancing requirements and other safety measures, which are impacting consumer demand for resorts in those markets. We plan to continue our normal business as conditions permit, but there can be no assurance that such positive trends will continue or that there will not be any increases of new infections or new variants that may impede or reverse recovery and such positive trends. In response to the impact of COVID-19, we took a variety of actions in 2020 and to date in 2021 to ensure the continuity of our business and operations and to secure our liquidity position to provide financial flexibility. These actions include amending certain financial covenant ratios in the fourth quarter of 2020 through the third quarter of 2021, as may be needed due to the ongoing and uncertain future impact of the COVID-19 pandemic on our business and operations. We also furloughed team members beginning in the second quarter of 2020 and completed a workforce reduction plan in the fourth quarter of 2020 that impacted approximately 1,500 team members. As of June 30, 2021 , approximately 500 team members continue to be furloughed. Prior to re-opening our resorts and sales centers, we introduced the HGV Enhanced Care Guidelines, designed to provide owners, guests and team members with the highest level of cleaning protocols and safety standards recommended by the Center for Disease Control and Prevention and cleaning solutions approved by the Environmental Protection Agency in response to the COVID-19 pandemic. While we believe that conditions in the hospitality and travel industries continue to reflect the improvement that we saw during the first half of 2021, the pandemic continues to severely impact certain areas outside the United States and be unprecedented and rapidly changing, with unknown duration and severity. Further, various state and local government officials may issue new or revised orders that are different than current ones under which we are operating. Accordingly, there remains significant uncertainty as to the degree of continuing impact and duration of the conditions stemming from the ongoing pandemic on our revenues, net income and other operating results, as well as our business and operations generally. Recently Issued Accounting Pronouncements Adopted Accounting Standards On January 1, 2021 we adopted Accounting Standards Update 2019-12 (“ASU 2019-12”), Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 simplifies various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The adoption of ASU 2019-12 did not have a material impact on our unaudited condensed consolidated financial statements and related disclosures. Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04 (“ASU 2020-04”), Reference Rate Reform ( Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions for applying U.S.GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate(“LIBOR”) or by another reference rate expected to be discontinued. The guidance was effective as of March 12, 2020 and will apply through December 31, 2022. We are currently evaluating the effect of this ASU but we do not expect it to have a material impact on our consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	Note 3: Revenue from Contracts with Customers Disaggregation of Revenue The following tables show our disaggregated revenues by segment from contracts with customers. We operate our business in the following two segments: (i) Real estate sales and financing and (ii) Resort operations and club management . Please refer to Note 18: Business Segments below for more details related to our segments. Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Real Estate Sales and Financing Segment Sales of VOIs, net $ 76 $ — $ 109 $ 56 Sales, marketing, brand and other fees 81 13 134 119 Interest income 31 36 62 74 Other financing revenue 6 7 12 13 Real estate and financing segment revenues $ 194 $ 56 $ 317 $ 262 Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Resort Operations and Club Management Segment Club management $ 29 $ 22 $ 56 $ 47 Resort management 19 17 37 36 Rental (1) 50 5 80 52 Ancillary services 4 — 6 5 Resort operations and club management segment revenues $ 102 $ 44 $ 179 $ 140 (1) Excludes intersegment eliminations. See Note 18: Business Segments for additional information. Contract Balances The following table provides information on our accounts receivable from contracts with customers which are included in Accounts receivable, net on our unaudited condensed consolidated balance sheets: June 30, December 31, ($ in millions) 2021 2020 Receivables $ 109 $ 64 The following table presents the composition of our contract liabilities. June 30, December 31, ($ in millions) 2021 2020 Contract liabilities: Advanced deposits $ 117 $ 117 Deferred sales of VOIs of projects under construction 242 169 Club activation fees, annual dues and other 113 77 Club Bonus Point incentive liability (1) 38 48 (1) Amounts related to the Club Bonus Point incentive liability are included in Accounts payable, accrued expenses and other on our unaudited condensed consolidated balance sheets. This liability is comprised of unrecognized revenue for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements. Revenue earned for the three and six months ended June 30, 2021 that was included in the contract liabilities balance at December 31, 2020 was approximately $ 55 million and $ 90 million, respectively. Our accounts receivables that relate to our contracts with customers includes amounts associated with our contractual right to consideration for completed performance obligations related primarily to our fee-for-service arrangements and homeowners’ associations (“HOA”) management agreements and are settled when the related cash is received. Accounts receivable are recorded when the right to consideration becomes unconditional and is only contingent on the passage of time. Refer to Note 6: Timeshare Financing Receivables for information on balances and changes in balances during the period related to our timeshare financing receivables. Contract liabilities include payments received or due in advance of satisfying our performance obligations. Such contract liabilities include advance deposits received on prepaid vacation packages for future stays at our resorts, deferred revenues related to sales of VOIs of projects under construction, club activation fees and annual dues and the liability for Club Bonus Points awarded to our customers for purchase of VOIs at our properties or properties under our fee-for-service arrangements that may be redeemed in the future. Transaction Price Allocated to Remaining Performance Obligations Transaction price allocated to remaining performance obligations represents contract revenue that has not yet been recognized. Our contracts with remaining performance obligations primarily include (i) sales of VOIs under construction, (ii) Club activation fees paid at closing of a VOI purchase, (iii) customers’ advanced deposits on prepaid vacation packages and (iv) Club Bonus Points that may be redeemed in the future. The following table represents the deferred revenue, cost of VOI sales and direct selling costs from sales of VOIs related to projects under construction as of June 30, 2021: June 30, December 31, ($ in millions) 2021 2020 Sales of VOIs, net $ 242 $ 169 Cost of VOI sales (1) 73 50 Sales and marketing expense 35 25 (1) Includes anticipated Cost of VOI sales related to inventory associated with Sales of VOIs under construction that will be acquired under a just-in-time arrangement once construction is complete. We expect to recognize the revenue, costs of VOI sales and direct selling costs upon completion of the projects throughout the remainder of 2021. The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Club Bonus Points as of June 30, 2021: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 117 18 months Upon customer stays Club activation fees 62 7 years Straight-line basis over average inventory holding period Club Bonus Points 38 24 months Upon redemption

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2021
Cash And Cash Equivalents [Abstract]
Restricted Cash	Note 4: Restricted Cash Restricted cash was as follows: June 30, December 31, ($ in millions) 2021 2020 Escrow deposits on VOI sales $ 85 $ 69 Reserves related to non-recourse debt (1) 27 29 Escrow deposits for recourse debt (2) 1,350 — $ 1,462 $ 98 (1) See Note 11: Debt & Non-recourse Debt for further discussion. (2) In June 2021, we entered into indentures in connection with the issuance of senior notes relating to the recently announced Agreement and Plan of Merger, as amended ("Merger Agreement") with Dakota Holdings, Inc. ("Diamond"). The gross proceeds of the offerings were deposited and will be held in an escrow account until the date that certain escrow conditions are satisfied, which are substantially upon closing of the Merger. See Note 11: Debt & Non-recourse Debt and Note 20: Planned Acquisition for further discussion.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Accounts Receivables	Note 5: Accounts Receivable The following table represents our accounts receivable, net of allowance for credit losses. Accounts receivable within the scope of ASC 326 are measured at amortized cost. June 30, ($ in millions) 2021 Fee-for-service commissions (1) $ 38 Real estate and financing 31 Resort and club operations 33 Tax receivables 109 Other receivables (2) 9 Total $ 220 (1) Net of allowance. (2) Primarily includes individually insignificant accounts receivable recognized in the ordinary course of business, the allowances for which are also individually insignificant. Our accounts receivable are all due within one year of origination. We use delinquency status and economic factors such as credit quality indicators to monitor our receivables within the scope of ASC 326 and use these as a basis for how we develop our expected loss estimates. We sell VOIs on behalf of third-party developers using the Hilton Grand Vacations brand in exchange for sales, marketing and brand fees. We use historical losses and economic factors as a basis to develop our allowance for credit losses. Under these fee-for-service arrangements, we earn commission fees based on a percentage of total interval sales. Additionally, the terms of these arrangements include provisions requiring the reduction of fees earned for defaults and cancellations. The changes in our allowance for fee-for-service commissions were as follows: June 30, ($ in millions) 2021 Balance as of December 31, 2020 $ 18 Current period provision for expected credit losses 4 Write-offs charged against the allowance ( 5 ) Balance at June 30, 2021 17

Timeshare Financing Receivables

Timeshare Financing Receivables	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Timeshare Financing Receivables	Note 6: Timeshare Financing Receivables Timeshare financing receivables were as follows: June 30, 2021 ($ in millions) Securitized Unsecuritized (1) Total Timeshare financing receivables $ 684 $ 446 $ 1,130 Less: allowance for financing receivables losses ( 47 ) ( 156 ) ( 203 ) $ 637 $ 290 $ 927 December 31, 2020 ($ in millions) Securitized Unsecuritized (1) Total Timeshare financing receivables $ 805 $ 380 $ 1,185 Less: allowance for financing receivables losses ( 63 ) ( 148 ) ( 211 ) $ 742 $ 232 $ 974 (1) Includes amounts used as collateral to secure a non-recourse revolving timeshare receivable credit facility ("Timeshare Facility") as well as amounts held as future collateral for securitization activities. As of June 30, 2021 and December 31, 2020 , we had timeshare financing receivables with a carrying value of $ 36 million and $ 17 million, respectively, securing the Timeshare Facility in anticipation of future financing activities. We record an estimate of variable consideration for estimated defaults as a reduction of revenue from VOI sales at the time revenue is recognized on a VOI sale. We record the difference between the timeshare financing receivable and the variable consideration included in the transaction price for the sale of the related VOI as an allowance for financing receivables and record the receivable net of the allowance. For the six months ended June 30, 2021 , we recorded an adjustment to our estimate of variable consideration of $ 28 million. Our timeshare financing receivables as of June 30, 2021 mature as follows: ($ in millions) Securitized Unsecuritized Total Year 2021 (remaining) $ 45 $ 21 $ 66 2022 92 38 130 2023 94 41 135 2024 96 44 140 2025 93 47 140 Thereafter 264 255 519 684 446 1,130 Less: allowance for financing receivables losses ( 47 ) ( 156 ) ( 203 ) $ 637 $ 290 $ 927 We evaluate this portfolio collectively for purposes of estimating variable consideration, since we hold a large group of homogeneous timeshare financing receivables which are individually immaterial. We monitor the collectability of our receivables on an ongoing basis. There are no significant concentrations of credit risk with any individual counterparty or groups of counterparties. We use a technique referred to as static pool analysis as the basis for estimating expected defaults and determining our allowance for financing receivables losses on our timeshare financing receivables. For static pool analysis, we use certain key dimensions to stratify our portfolio, including FICO scores, equity percentage at the time of sale and certain other factors. The adequacy of the related allowance is determined by management through analysis of several factors, such as current economic conditions and industry trends, as well as the specific risk characteristics of the portfolio including assumed default rates, aging and historical write-offs of these receivables. The allowance is maintained at a level deemed adequate by management based on a periodic analysis of the mortgage portfolio. We recognize interest income on our timeshare financing receivables as earned. As of June 30, 2021 and December 31, 2020, we had interest receivable outstanding of $ 6 million and $ 7 million, respectively, included in our unaudited condensed consolidated balance sheets. The interest rate charged on the notes correlates to the risk profile of the customer at the time of purchase and the percentage of the purchase that is financed, among other factors. As of June 30, 2021 , our timeshare financing receivables had interest rates ranging from 1.5 percent to 21.0 percent, a weighted-average interest rate of 12.62 percent, a weighted-average remaining term of 7.4 years and maturities through 2036 . Our gross timeshare financing receivables balances by average FICO score were as follows: June 30, December 31, ($ in millions) 2021 2020 FICO score 700+ $ 675 $ 711 600-699 251 266 <600 35 36 No score (1) 169 172 $ 1,130 $ 1,185 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following table details the origination year of our gross timeshare financing receivables by the origination year and average FICO score as of June 30, 2021: ($ in millions) 2021 2020 2019 2018 2017 Prior Total FICO score 700+ $ 97 $ 101 $ 176 $ 118 $ 78 $ 105 $ 675 600-699 31 39 66 43 28 44 251 <600 4 6 9 5 4 7 35 No score (1) 23 29 42 29 14 32 169 $ 155 $ 175 $ 293 $ 195 $ 124 $ 188 $ 1,130 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. We apply payments we receive for timeshare financing receivables, including those in non-accrual status, to amounts due in the following order: servicing fees; interest; principal; and late charges. Once a receivable is 91 days past due, we cease accruing interest and reverse the accrued interest recognized up to that point. We resume interest accrual for receivables for which we had previously ceased accruing interest once the receivable is less than 91 days past due. We fully reserve for a timeshare financing receivable in the month following the date that the receivable is 121 days past due and, subsequently, we write off the uncollectible balance against the reserve once the foreclosure process is complete and we receive the deed for the foreclosed unit. As of June 30, 2021 and December 31, 2020 , we had ceased accruing interest on timeshare financing receivables with an aggregate principal balance of $ 108 million and $ 117 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: June 30, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 671 $ 338 $ 1,009 31 - 90 days past due 7 6 13 91 - 120 days past due 2 2 4 121 days and greater past due 4 100 104 $ 684 $ 446 $ 1,130 December 31, 2020 ($ in millions) Securitized Unsecuritized Total Current $ 783 $ 265 $ 1,048 31 - 90 days past due 11 9 20 91 - 120 days past due 5 3 8 121 days and greater past due 6 103 109 $ 805 $ 380 $ 1,185 The changes in our allowance for financing receivables losses were as follows: June 30, 2021 ($ in millions) Securitized Unsecuritized Total Balance as of December 31, 2020 $ 63 $ 148 $ 211 Provision for financing receivables losses (1) ( 16 ) 44 28 Write-offs — ( 36 ) ( 36 ) Balance as of June 30, 2021 $ 47 $ 156 $ 203 June 30, 2020 ($ in millions) Securitized Unsecuritized Total Balance as of December 31, 2019 $ 54 $ 130 $ 184 Provision for financing receivables losses (1) ( 12 ) 57 45 Write-offs — ( 19 ) ( 19 ) Securitization 36 ( 36 ) — Balance as of June 30, 2020 $ 78 $ 132 $ 210 (1) Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventory	Note 7: Inventory Inventory was comprised of the following: June 30, December 31, ($ in millions) 2021 2020 Completed unsold VOIs $ 527 $ 515 Construction in process 202 186 Land, infrastructure and other 1 1 $ 730 $ 702 The table below presents costs of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory. Six months ended June 30, ($ in millions) 2021 2020 Cost of sales true-up (1) $ 4 $ 5 (1) Costs of sales true-up reduced costs of VOI sales and increased inventory in the periods presented. Shown below are expenses incurred, recorded in Cost of VOI sales , related to granting credit to customers for their existing ownership when upgrading into fee-for service projects. Three months ended June 30, Six months ended June 30, ($ in millions) 2021 2020 2021 2020 Cost of VOI sales related to fee-for-service upgrades $ 2 $ — $ 3 $ 5

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	Note 8: Property and Equipment Property and equipment were comprised of the following: June 30, December 31, ($ in millions) 2021 2020 Land $ 108 $ 109 Building and leasehold improvements 253 250 Furniture and equipment 63 65 Construction in progress 225 208 649 632 Accumulated depreciation ( 141 ) ( 131 ) $ 508 $ 501

Consolidated Variable Interest

Consolidated Variable Interest Entities	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Consolidated Variable Interest Entities	Note 9: Consolidated Variable Interest Entities As of June 30, 2021 and December 31, 2020 , we consolidated four variable interest entities (“VIEs”), respectively, that issued non-recourse debt backed by pledged assets consisting primarily of a pool of timeshare financing receivables which is without recourse to us. We are the primary beneficiaries of these VIEs as we have the power to direct the activities that most significantly affect their economic performance. We are also the servicer of these timeshare financing receivables and we often replace or repurchase timeshare financing receivables that are in default at their outstanding principal amounts. Additionally, we have the obligation to absorb their losses and the right to receive benefits that could be significant to them. Only the assets of our VIEs are available to settle the obligations of the respective entities. Our unaudited condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily consisted of the following: June 30, December 31, ($ in millions) 2021 2020 Restricted cash $ 26 $ 28 Timeshare financing receivables, net 637 742 Non-recourse debt (1) 650 766 (1) Net of deferred financing costs. During the six months ended June 30, 2021 and 2020 , we did no t provide any financial or other support to any VIEs that we were not previously contractually required to provide, nor do we intend to provide such support in the future.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note 10: Investments in Unconsolidated Affiliates As of June 30, 2021 , we have 25 percent and 50 percent ownership interests in BRE Ace LLC and 1776 Holding LLC, respectively, that are deemed as VIEs. We do not consolidate BRE Ace LLC and 1776 Holding LLC because we are not the primary beneficiary. Our investment interests in and equity earned from both VIEs are included in the consolidated balance sheets as Investments in unconsolidated affiliates and in the consolidated statements of operations as Equity in earnings from unconsolidated affiliates , respectively. Our two unconsolidated affiliates have aggregated debt balances of $ 425 million and $ 454 million as of June 30, 2021 and December 31, 2020, respectively. The debt is secured by their assets and is without recourse to us. Our maximum exposure to loss as a result of our investment interests in the two unconsolidated affiliates is primarily limited to (i) the carrying amount of the investments which totals $ 57 million and $ 51 million as of June 30, 2021 and December 31, 2020, respectively and (ii) receivables for commission and other fees earned under fee-for-service arrangements. See Note 17: Related Party Transactions for additional information.

Debt & Non-recourse Debt

Debt & Non-recourse Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt & Non-recourse Debt	Note 11: Debt & Non-recourse Debt Debt The following table details our outstanding debt balance and its associated interest rates: June 30, December 31, ($ in millions) 2021 2020 Debt (1) Senior secured credit facilities: Term loan with a rate of 3.75 %, due 2023 $ 172 $ 177 Revolver with a weighted average rate of 3.75 %, due 2023 610 660 Senior notes with a rate of 6.125 %, due 2024 300 300 Senior notes with a rate of 5.000 %, due 2029 850 — Senior notes with a rate of 4.875 %, due 2031 500 — Other debt 27 27 2,459 1,164 Less: unamortized deferred financing costs and discount (2)(3) ( 28 ) ( 5 ) $ 2,431 $ 1,159 (1) As of June 30, 2021 and December 31, 2020 , weighted-average interest rates were 4.737 percent and 3.357 percent, respectively. (2) Amount includes deferred financing costs related to our term loan and senior notes of $ 1 million and $ 27 million, respectively, as of June 30, 2021 and $ 1 million and $ 4 million, respectively, as of Dec ember 31, 2020. (3) Amount does not include deferred financing costs of $ 3 million and $ 4 million as of June 30, 2021 and December 31, 2020, respectively, related to our revolving facility included in Other assets in our unaudited condensed consolidated balance sheets. In March 2021, we amended our Credit Agreement to amend certain terms related to financial covenants to permit the previously announced proposed acquisition of Dakota Holdings, Inc., (“Diamond”), which indirectly owns all of the interests in Diamond Resorts International Inc. (the “Merger”, "Acquisition"), pursuant to that certain Agreement and Plan of Merger dated March 10, 2021. Refer to Note 20: Planned Acquisition for further information regarding the Merger. The borrowing capacity under the Credit Agreement remained the same. In connection with the amendment, we incurred $ 1 million in debt issuance costs. In addition, we obtained a revolving credit facility commitment in connection with the Merger and incurred $ 2 million in debt issuance costs which were amortized over the term of the commitment in the first quarter of 2021. This was included in Interest expense in our unaudited condensed consolidated statements of operations. In June 2021, we entered into indentures in connection with the issuance and sale of senior notes, $ 850 million aggregate principal amount of 5.00 % senior notes due 2029 ("Notes 2029") and $ 500 million aggregate principal amount of 4.875 % senior notes due 2031 ("Notes 2031"). We intend to use the net proceeds from Notes 2029 and Notes 2031 to finance the repayment of certain indebtedness in connection with the Merger. The gross proceeds of the offerings were deposited and will be held in an escrow account until the date that certain escrow conditions are satisfied, which are substantially upon closing of the Merger. As of June 30, 2021, the gross proceeds are included in Restricted cash in our unaudited condensed consolidated balance sheet. In connection with the offerings, we incurred $ 23 million in debt issuance costs for the notes which are accrued as of June 30, 2021 and included within net cash provided by operating activities in our unaudited condensed consolidated statement of cash flows. In connection with the Merger, we obtained a financing commitment to provide a new $ 1.3 billion seven-year secured term loan B facility to fund the repayment of certain existing indebtedness of both HGV and Diamond. The term loan B will be effective and available in a single drawing upon consummation of the Acquisition. As of June 30, 2021, we incurred approximately $ 3 million in debt issuance costs for term loan B. As of June 30, 2021, these costs are included in Other assets in our unaudited condensed consolidated balance sheet and will be reclassified as debt issuance costs within Debt, net in our unaudited condensed consolidated balance sheet upon the debt issuance. During the six months ended June 30, 2021 , we repaid $ 55 million (including recurring payments) under the senior secured credit facilities with an interest rate based on one month LIBOR plus 3.50 percent, subject to a 0.25 percent floor. We primarily use interest rate swaps as part of our interest rate risk management strategy for our variable-rate debt. As of June 30, 2021 , we had approximately $ 172 million of our Term Loan subject to interest rate swaps. Such interest rate swaps converted the LIBOR-based variable rates on our Term Loan to an average fixed annual rate of 0.53 percent per annum through November 2023. Our interest rate swaps have been designated and qualify as cash flow hedges of interest rate risk and recorded as a liability in Accounts payable, accrued expenses and other in our unaudited condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020. We characterize payments we make in connection with these derivative instruments as interest expense and a reclassification of accumulated other comprehensive income for presentation purposes. For the six months ended June 30, 2021 , we recorded less than $ 1 million in accumulated other comprehensive loss related to the cash flow hedge. As of June 30, 2021 and December 31, 2020 , we had $ 1 million of outstanding letters of credit under the revolving credit facility. We were in compliance with all applicable maintenance and financial covenants and ratios as of June 30, 2021. Non-recourse Debt The following table details our outstanding non-recourse debt balance and its associated interest rates: June 30, December 31, ($ in millions) 2021 2020 Non-recourse debt (1) Securitized Debt with a weighted average rate of 2.711 %, due 2028 $ 87 $ 106 Securitized Debt with a weighted average rate of 3.602 %, due 2032 172 202 Securitized Debt with a weighted average rate of 2.431 %, due 2033 183 216 Securitized Debt with a weighted average rate of 3.658 %, due 2039 215 251 657 775 Less: unamortized deferred financing costs (2) ( 7 ) ( 9 ) $ 650 $ 766 (1) As of June 30, 2021 and December 31, 2020 , weighted-average interest rates were 3.176 percent and 3.173 percent, respectively. (2) Amount relates to Securitized Debt only and does not include deferred financing costs of $ 2 million and $ 3 million as of June 30, 2021 and December 31, 2020, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets. The Timeshare Facility is a non-recourse obligation with a borrowing capacity of $ 450 million and is payable solely from the pool of timeshare financing receivables pledged as collateral and related assets. As of June 30, 2021 and December 31, 2020 , we had $ 450 million remaining borrowing capacity under our Timeshare Facility. In March 2021, we amended our Timeshare Facility to align with our amended Credit Agreement, as described above. We are required to deposit payments received from customers on the timeshare financing receivables securing the Timeshare Facility and Securitized Debt into depository accounts maintained by third parties. On a monthly basis, the depository accounts are utilized to make required principal, interest and other payments due under the respective loan agreements. The balances in the depository accounts were $ 27 million and $ 29 million as of June 30, 2021 and December 31, 2020, respectively, and were included in Restricted cash in our unaudited condensed consolidated balance sheets. Debt Maturities The contractual maturities of our debt and non-recourse debt as of June 30, 2021 were as follows: ($ in millions) Debt Non-recourse Total Year 2021 (remaining) $ 6 $ 91 $ 97 2022 11 168 179 2023 769 158 927 2024 300 76 376 2025 — 79 79 Thereafter 1,373 85 1,458 $ 2,459 $ 657 $ 3,116

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12: Fair Value Measurements The carrying amounts and estimated fair values of our financial assets and liabilities were as follows: June 30, 2021 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 927 $ — $ 1,141 Liabilities: Debt, net (2) 2,431 1,682 821 Non-recourse debt, net (2) 650 — 611 December 31, 2020 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 974 $ — $ 1,248 Liabilities: Debt, net (2) 1,159 315 871 Non-recourse debt, net (2) 766 — 732 (1) Carrying amount net of allowance for financing receivables losses. (2) Carrying amount net of unamortized deferred financing costs and discount. Our estimates of the fair values were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop the estimated fair values. The table above excludes cash and cash equivalents, restricted cash, accounts receivable, accounts payable, advance deposits and accrued liabilities, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. The estimated fair values of our timeshare financing receivables were determined using a discounted cash flow model. Our model incorporates default rates, coupon rates, credit quality and loan terms respective to the portfolio based on current market assumptions for similar types of arrangements. The estimated fair values of our Level 1 debt were based on prices in active debt markets. The estimated fair values of our Level 3 debt and non-recourse debt were based on the following: • Debt - based on indicative quotes obtained for similar issuances and projected future cash flows discounted at risk-adjusted rates. • Non-recourse debt - based on projected future cash flows discounted at risk-adjusted rates. Non-recurring fair value measurements Our assets that are measured at fair value on a non-recurring basis include land and infrastructure held for sale. These assets were measured to their estimated fair value as of December 31, 2020. We utilized the market approach for the land and cost approach for the infrastructure to determine their respective fair values. The fair value determinations involve judgement and are sensitive to key assumptions utilized, including comparative sales for land (level 2) and replacement costs for infrastructure (level 3). As of June 30, 2021 and December 31, 2020, the estimated fair value of these assets were as follows and their carrying values were reflected in Land and infrastructure held for sale in our condensed consolidated balance sheets. Hierarchy Level ($ in millions) Level 2 Level 3 Land held for sale $ 47 $ — Infrastructure held for sale — 5

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Note 13: Leases We lease sales centers, office space and equipment under operating leases. Our leases expire at various dates from 2021 through 2030 , with varying renewal and termination options. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We recognize rent expense on leases with both contingent and non-contingent lease payment terms. Rent associated with non-contingent lease payments are recognized on a straight-line basis over the lease term. Rent expense for all operating leases was $ 5 million for both the three months ended June 30, 2021 and 2020, and $ 9 million and $ 10 million for the six months ended June 30, 2021 and 2020, respectively. These amounts include $ 1 million of short-term and variable lease costs for the three months ended June 30, 2021 and 2020, respectively, and $ 2 million for the six months ended June 30, 2021 and 2020, respectively. Supplemental cash flow information related to operating leases was as follows: Six months ended June 30, ($ in millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 9 $ 9 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases — 5 Supplemental balance sheet information related to operating leases was as follows: June 30, December 31, 2021 2020 Weighted-average remaining lease term of operating leases (in years) 5.2 5.4 Weighted-average discount rate of operating leases 5.03 % 4.95 % The future minimum lease payments under noncancelable operating leases, due in each of the next five years and thereafter as of June 30, 2021, are as follows: ($ in millions) Operating Year 2021 (remaining) 8 2022 13 2023 13 2024 11 2025 10 Thereafter 12 Total future minimum lease payments $ 67 Less: imputed interest ( 8 ) Present value of lease liabilities $ 59

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 14: Income Taxes At the end of each quarter, we estimate the effective tax rate expected to be applied for the full year. The estimated annual effective tax rate is determined by the level and composition of pre-tax ordinary income or loss, which is subject to federal, foreign and state and local income taxes. The estimated annual effective tax rate for the six months ended June 30, 2021 and 2020 was approximately 30 percent and 12 percent, respectively. The estimated annual effective tax rate is higher primarily due to the change in earnings mix of our worldwide income through the second quarter of 2021 as compared to the second quarter of 2020. The actual effective tax rate for the six months ended June 30, 2021 and 2020 was approximately 300 percent and 15 percent, respectively. The actual effective tax rate is higher primarily due to the impact of non-recurring discrete items and share-based compensation awards relative to the actual pre-tax loss through the second quarter of 2021 as compared to the second quarter of 2020. We have considered the income tax accounting and disclosure implications of the relief provided by the American Rescue Plan Act of 2021 enacted on March 11, 2021. As of June 30, 2021, we evaluated the income tax provisions of the American Rescue Plan Act and have determined there to be no effect on either the June 30, 2021 tax rate or the computation of the estimated effective tax rate for the year. We will continue to evaluate the income tax provisions of the American Rescue Plan Act and monitor the developments in the jurisdictions where we have significant operations for tax law changes that could have income tax accounting and disclosure implications.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 15: Share-Based Compensation Stock Plan We issue service-based restricted stock units (“Service RSUs”), service and performance-based restricted stock units (“Performance RSUs”) and nonqualified stock options (“Options”) to certain employees and directors. We recognized share-based compensation expense of $ 14 million and $ 6 million for the three months ended June 30, 2021 and 2020 , respectively, and $ 18 million and $ 4 million for the six months ended June 30, 2021 and 2020, respectively. In the prior year, certain expenses related to Performance RSUs were reversed as the related RSUs were not expected to achieve certain performance targets, resulting in a credit to expense in the prior period. As of June 30, 2021 , unrecognized compensation costs for unvested awards were approximately $ 35 million, which is expected to be recognized over a weighted average period of 1.6 years. As of June 30, 2021 , there were 4,026,124 shares of common stock available for future issuance under this plan. Service RSUs During the six months ended June 30, 2021 , we issued 583,077 Service RSUs with a grant date fair value of $ 38.46 , which generally vest in equal annual installments over three years from the date of grant. Options During the six months ended June 30, 2021 , we issued 542,793 Options with an exercise price of $ 38.22 , which vest over three years from the date of the grant. The weighted-average grant date fair value of these options was $ 13.30 , which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility 34.2 % Dividend yield 0 % Risk-free rate 1.1 % Expected term (in years) 6.0 As of June 30, 2021 , we had 1,264,836 Options outstanding that were exercisable. Performance Shares During the six months ended June 30, 2021 , we issued 124,711 Performance RSUs with a grant date fair value of $ 38.22 . The Performance RSUs are settled at the end of a three-year performance period, with 50 percent of the Performance RSUs subject to achievement based on the Company’s adjusted earnings before interest expense, taxes and depreciation and amortization further adjusted for net deferral and recognition of revenues and related direct expenses related to sales of VOIs of projects under construction. The remaining 50 percent of the Performance RSUs are subject to the achievement of certain contract sales targets. We determined that the performance conditions for these awards are probable of achievement and, as of June 30, 2021, we recognized compensation expense based on the number of Performance RSUs we expect to vest. Employee Stock Purchase Plan In March 2017, the Board of Directors adopted the Hilton Grand Vacations Inc. Employee Stock Purchase Plan (the “ESPP”), which became effective during 2017. In connection with the Plan, we issued 2.5 million shares of common stock which may be purchased under the ESPP. The ESPP allows eligible employees to purchase shares of our common stock at a price per share not less than 95 percent of the fair market value per share of common stock on the purchase date, up to a maximum threshold established by the plan administrator for the offering period. During the three and six months ended June 30, 2021 and 2020 , we recognized less than $ 1 million of compensation expense related to this plan.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 16: Earnings (Loss) Per Share The following table presents the calculation of our basic and diluted earnings (loss) per share (“EPS”). The weighted average shares outstanding used to compute basic EPS and diluted EPS for the three months ended June 30, 2021 was 85,650,144 and 86,838,601 , respectively, and 85,002,791 for the three months ended June 30, 2020. The weighted average shares outstanding used to compute basic EPS and diluted EPS for the six months ended June 30, 2021 were 85,479,870 and 86,539,505 , respectively, and 85,258,963 for the six months ended June 30, 2020. Three Months Ended June 30, Six Months Ended June 30, ($ and shares outstanding in millions, except per share amounts) 2021 2020 2021 2020 Basic EPS: Numerator: Net income (loss) (1) $ 9 $ ( 48 ) $ 2 $ ( 40 ) Denominator: Weighted average shares outstanding 86 85 85 85 Basic EPS $ 0.10 $ ( 0.56 ) $ 0.02 $ ( 0.47 ) Diluted EPS: Numerator: Net income (loss) (1) $ 9 $ ( 48 ) $ 2 $ ( 40 ) Denominator: Weighted average shares outstanding 87 85 87 85 Diluted EPS $ 0.10 $ ( 0.56 ) $ 0.02 $ ( 0.47 ) (1) Net income (loss) for the three months ended June 30, 2021 and 2020 was $ 8,700,776 and $( 47,751,330 ), respectively, and $ 1,929,361 and $( 39,924,584 ) for the six months ended June 30, 2021 and 2020 , respectively. The dilutive effect of outstanding share-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method using average market prices during the period. Potentially dilutive shares of 175,635 and 357,912 , for the three and six months ended June 30, 2020, respectively, were excluded from the calculation of diluted weighted average shares outstanding and diluted earnings per share as a result of our net loss position. For the three and six months ended June 30, 2021 , we excluded 788,168 and 568,891 , respectively, and 3,027,069 and 2,429,811 for the three and six months ended June 30, 2020, respectively, of share-based compensation awards, because their effect would have been anti-dilutive under the treasury stock method.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 17: Related Party Transactions BRE Ace LLC and 1776 Holding, LLC We hold a 25 percent ownership interest in BRE Ace LLC, a VIE, which owns a timeshare resort property and related operations, commonly known as “Elara, by Hilton Grand Vacations.” We hold a 50 percent ownership interest in 1776 Holding, LLC, a VIE, which owns a timeshare resort property and related operations, known as “Liberty Place Charleston, by Hilton Club.” We record Equity in earnings from our unconsolidated affiliates in our unaudited condensed consolidated statements of operations. See Note 10: Investments in Unconsolidated Affiliates for additional information. Additionally, we earn commissions and other fees related to fee-for-service agreements with the investees to sell VOIs at Elara, by Hilton Grand Vacations and Liberty Place Charleston, by Hilton Club. These amounts are summarized in the following table and are included in our unaudited condensed consolidated statements of operations as of the date they became related parties. Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Equity in earnings from unconsolidated affiliates $ 4 $ 1 $ 6 $ 4 Commissions and other fees 24 4 37 27 We also had $ 13 million and $ 7 million of outstanding receivables related to the fee-for-service agreements as of June 30, 2021 and December 31, 2020 , respectively.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Business Segments	Note 18: Business Segments We operate our business through the following two segments: • Real estate sales and financing – We market and sell VOIs that we own. We also source VOIs through fee-for-service agreements with third-party developers. Related to the sales of the VOIs that we own, we provide consumer financing, which includes interest income generated from the origination of consumer loans to customers to finance their purchase of VOIs and revenue from servicing the loans. We also generate fee revenue from servicing the loans provided by third-party developers to purchasers of their VOIs. • Resort operations and club management – We manage the Club and earn activation fees, annual dues and transaction fees from member exchanges for other vacation products. We also earn fees for managing the timeshare properties. We generate rental revenue from unit rentals of unsold inventory and inventory made available due to ownership exchanges under our Club program. We also earn revenue from food and beverage, retail and spa outlets at our timeshare properties. The performance of our operating segments is evaluated primarily based on adjusted earnings before interest expense (excluding non-recourse debt), taxes, depreciation and amortization (“EBITDA”). We define Adjusted EBITDA as EBITDA, further adjusted to exclude certain items, including, but not limited to, gains, losses and expenses in connection with: (i) other gains, including asset dispositions and foreign currency translations; (ii) debt restructurings/retirements; (iii) non-cash impairment losses; (iv) share-based and other compensation expenses; and (v) other items, including but not limited to costs associated with acquisitions, restructuring and other non-cash and one-time charges. We do not include equity in earnings (losses) from unconsolidated affiliates in our measures of segment operating performance. The following table presents revenues for our reportable segments reconciled to consolidated amounts: Three Months Ended Six Months Ended ($ in millions) 2021 2020 2021 2020 Revenues: Real estate sales and financing $ 194 $ 56 $ 317 $ 262 Resort operations and club management (1)(2) 107 44 187 148 Total segment revenues 301 100 504 410 Cost reimbursements 38 23 73 72 Intersegment eliminations (1)(2) ( 5 ) — ( 8 ) ( 8 ) Total revenues $ 334 $ 123 $ 569 $ 474 (1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marketing package stays at resorts. These charges totaled $ 5 million for the three months ended June 30, 2021 . There were no such charges related to this for three months ended June 30, 2020. For the six months ended June 30, 2021 and 2020, these charges totaled $ 8 million. (2) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for the rental of model units to show prospective buyers. These charges totaled less than $ 1 million for the three and six months ended June 30, 2021 and 2020 . The following table presents Adjusted EBITDA for our reportable segments reconciled to net income (loss): Three Months Ended Six Months Ended ($ in millions) 2021 2020 2021 2020 Adjusted EBITDA: Real estate sales and financing (1) $ 45 $ ( 14 ) $ 72 $ 1 Resort operations and club management (1) 61 15 103 70 Segment Adjusted EBITDA 106 1 175 71 General and administrative ( 44 ) ( 22 ) ( 80 ) ( 43 ) Depreciation and amortization ( 12 ) ( 11 ) ( 23 ) ( 23 ) License fee expense ( 19 ) ( 6 ) ( 33 ) ( 28 ) Other loss, net ( 1 ) ( 3 ) ( 2 ) ( 1 ) Interest expense ( 17 ) ( 12 ) ( 32 ) ( 22 ) Income tax (expense) benefit ( 3 ) 8 3 7 Equity in earnings from unconsolidated affiliates 4 1 6 4 Impairment expense — — ( 1 ) — Other adjustment items (2) ( 5 ) ( 4 ) ( 11 ) ( 5 ) Net income (loss) $ 9 $ ( 48 ) $ 2 $ ( 40 ) (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) For the three and six months ended June 30, 2021 and 2020 , this amount includes costs associated with restructuring, one-time charges and other non-cash items included within our reportable segments.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 19: Commitments and Contingencies We have entered into certain arrangements with developers whereby we have committed to purchase vacation ownership units or other real estate at a future date to be marketed and sold under our Hilton Grand Vacations brand. As of June 30, 2021, we were committed to purchase approximately $ 436 million of inventory and land over a period of 10 years and $ 10 million of other commitments in the normal course of business. Additionally, we have committed to develop additional vacation ownership units at an existing resort in Japan. We are also committed to an agreement to exchange parcels of land in Hawaii, subject to the successful completion of zoning, land use requirements and other applicable regulatory requirements. The actual amount and timing of the acquisitions is subject to change pursuant to the terms of the respective arrangements, which could also allow for cancellation in certain circumstances. During the six months ended June 30, 2021 and 2020, we completed $ 18 million and $ 9 million, respectively, of purchases required under our inventory-related purchase commitments. As of June 30, 2021, our remaining obligation pursuant to these arrangements were expected to be incurred as follows: ($ in millions) 2021 2022 2023 2024 2025 Thereafter Total Inventory purchase obligations $ 209 $ 114 $ 58 $ 40 $ 3 $ 12 $ 436 Other commitments (1) 7 3 — — — — 10 Total $ 216 $ 117 $ 58 $ 40 $ 3 $ 12 $ 446 (1) Primarily relates to commitments related to information technology and brand licensing in the normal course of business. We are involved in litigation arising from the normal course of business, some of which includes claims for substantial sums. Management has evaluated these legal matters and we believe that possible losses derived from an unfavorable outcome that is reasonably possible is not reasonably estimable. While the actual results of claims and litigation cannot be predicted with certainty, we expect that the resolution of all pending or threatened claims and litigation as of June 30, 2021 , will no t materially affect our unaudited condensed consolidated financial statements.

Planned Acquisition

Planned Acquisition	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Planned Acquisition	Note 20: Planned Acquisition On March 10, 2021, we and our wholly-owned subsidiary Hilton Grand Vacations Borrower LLC entered into an Agreement and Plan of Merger, as amended (“Merger Agreement”), with Dakota Holdings, Inc. (“Diamond”), which is controlled by certain investment funds and vehicles managed by affiliates of Apollo Global Management Inc. (“Apollo”) and certain stockholders of Diamond, under which we agreed to acquire Diamond, in a stock transaction with an equity fair value of approximately $ 1.4 billion as of that date. Under the Merger Agreement, Apollo and other Diamond stockholders are expected to receive approximately 34.7 million shares (based on calculations as of June 1, 2021) of our common stock, par value $ 0.01 per share, subject to customary adjustments. Upon transaction close, existing HGV stockholders are expected to own approximately 72 % of our shares of common stock on a fully-diluted basis and Apollo is expected to own approximately 28 % of our shares of common stock on a fully-diluted basis. The transaction has been approved by the Board of Directors for both companies. Consummation of this transaction is subject to customary conditions, including approval from stockholders of both us and Diamond, receipt of any required regulatory approvals and other customary closing conditions. We intend to finance the transaction through a combination of cash on hand, assumption of debt and incremental debt financing. As of June 30, 2021, we have entered into debt agreements to provide incremental financing. See Note 11: Debt & Non-recourse Debt for further discussion. The transaction is expected to close in August 2021.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 21: Subsequent Events As disclosed in our press release issued on July 28, 2021 and in our Current Report on Form 8-K filed with the SEC on July 28, 2021, at a special meeting held on the same day, our stockholders voted to approve the issuance of our common stock in connection with the proposed acquisition of Diamond. The transaction is expected to close in early August 2021, and remains subject to customary closing conditions. In July 2021, we also executed the following transactions:  we entered into an Amendment to the Purchase and Sale Agreement (the “Amendment”) for the Central at 5th by Hilton Club development project. The Amendment shifted the timing of payments of our inventory purchase obligations for the project from 2021 and 2022 to 2023. Additionally, we completed the purchase of the first phase of timeshare units for $ 53 million  we borrowed $ 96 million under our Timeshare Facility to finance the repayment of certain indebtedness in connection with the Merger  we terminated the waiver period obtained in December 2020 for certain financial covenants required under our Credit Agreement.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements presented herein include 100 percent of our assets, liabilities, revenues, expenses and cash flows as well as all entities in which we have a controlling financial interest. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. All material intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Although we believe the disclosures made are adequate to prevent information presented from being misleading, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ended December 31, 2020, included in our Annual Report on Form 10-K filed with the SEC on March 1, 2021. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and, accordingly, ultimate results could differ from those estimates. Interim results are not necessarily indicative of full year performance. Impact of the COVID-19 Pandemic The novel coronavirus (“COVID-19”) pandemic that started in early 2020 significantly negatively impacted the hospitality, travel and leisure industries due to various mandates and orders to close non-essential businesses, impose travel restrictions, require “stay-at-home” and/or self-quarantine. Such restrictions and directives have resulted in cancellations and significant reductions in travel around the world and caused various other negative global economic conditions. In response to these events, we closed substantially all of our resorts and sales centers during early 2020, but began a phased reopening of resorts and resumption of our business activities during the second quarter of 2020 under new operating guidelines and with enhanced safety measures as mandates and orders for business closures, quarantine and travel restrictions began to ease. With the expectation that the pandemic will continue to recede as COVID-19 vaccinations become more widespread, such mandates and orders have continued to ease, resulting in increasing consumer confidence in resuming normal activities, including travel and leisure, and more businesses resuming normal operations. Accordingly, the positive trends in leisure travel and stays at our properties have continued. For example, as of June 30, 2021, nearly all of our resorts and sales centers which previously closed due to the COVID-19 pandemic are open and operating, although some are still operating in markets with various capacity constraints, social distancing requirements and other safety measures, which are impacting consumer demand for resorts in those markets. We plan to continue our normal business as conditions permit, but there can be no assurance that such positive trends will continue or that there will not be any increases of new infections or new variants that may impede or reverse recovery and such positive trends. In response to the impact of COVID-19, we took a variety of actions in 2020 and to date in 2021 to ensure the continuity of our business and operations and to secure our liquidity position to provide financial flexibility. These actions include amending certain financial covenant ratios in the fourth quarter of 2020 through the third quarter of 2021, as may be needed due to the ongoing and uncertain future impact of the COVID-19 pandemic on our business and operations. We also furloughed team members beginning in the second quarter of 2020 and completed a workforce reduction plan in the fourth quarter of 2020 that impacted approximately 1,500 team members. As of June 30, 2021 , approximately 500 team members continue to be furloughed. Prior to re-opening our resorts and sales centers, we introduced the HGV Enhanced Care Guidelines, designed to provide owners, guests and team members with the highest level of cleaning protocols and safety standards recommended by the Center for Disease Control and Prevention and cleaning solutions approved by the Environmental Protection Agency in response to the COVID-19 pandemic. While we believe that conditions in the hospitality and travel industries continue to reflect the improvement that we saw during the first half of 2021, the pandemic continues to severely impact certain areas outside the United States and be unprecedented and rapidly changing, with unknown duration and severity. Further, various state and local government officials may issue new or revised orders that are different than current ones under which we are operating. Accordingly, there remains significant uncertainty as to the degree of continuing impact and duration of the conditions stemming from the ongoing pandemic on our revenues, net income and other operating results, as well as our business and operations generally.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted Accounting Standards On January 1, 2021 we adopted Accounting Standards Update 2019-12 (“ASU 2019-12”), Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 simplifies various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The adoption of ASU 2019-12 did not have a material impact on our unaudited condensed consolidated financial statements and related disclosures. Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04 (“ASU 2020-04”), Reference Rate Reform ( Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions for applying U.S.GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate(“LIBOR”) or by another reference rate expected to be discontinued. The guidance was effective as of March 12, 2020 and will apply through December 31, 2022. We are currently evaluating the effect of this ASU but we do not expect it to have a material impact on our consolidated financial statements.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Schedule of Disaggregated Revenues by Segment from Contracts with Customers	The following tables show our disaggregated revenues by segment from contracts with customers. We operate our business in the following two segments: (i) Real estate sales and financing and (ii) Resort operations and club management . Please refer to Note 18: Business Segments below for more details related to our segments. Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Real Estate Sales and Financing Segment Sales of VOIs, net $ 76 $ — $ 109 $ 56 Sales, marketing, brand and other fees 81 13 134 119 Interest income 31 36 62 74 Other financing revenue 6 7 12 13 Real estate and financing segment revenues $ 194 $ 56 $ 317 $ 262 Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Resort Operations and Club Management Segment Club management $ 29 $ 22 $ 56 $ 47 Resort management 19 17 37 36 Rental (1) 50 5 80 52 Ancillary services 4 — 6 5 Resort operations and club management segment revenues $ 102 $ 44 $ 179 $ 140 (1) Excludes intersegment eliminations. See Note 18: Business Segments for additional information.
Schedule of Accounts Receivable from Contracts with Customers and Composition of Contract Liabilities	The following table provides information on our accounts receivable from contracts with customers which are included in Accounts receivable, net on our unaudited condensed consolidated balance sheets: June 30, December 31, ($ in millions) 2021 2020 Receivables $ 109 $ 64 The following table presents the composition of our contract liabilities. June 30, December 31, ($ in millions) 2021 2020 Contract liabilities: Advanced deposits $ 117 $ 117 Deferred sales of VOIs of projects under construction 242 169 Club activation fees, annual dues and other 113 77 Club Bonus Point incentive liability (1) 38 48 (1) Amounts related to the Club Bonus Point incentive liability are included in Accounts payable, accrued expenses and other on our unaudited condensed consolidated balance sheets. This liability is comprised of unrecognized revenue for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.
Schedule of Deferred Revenue Cost of Sales and Direct Selling Costs from Sales of Project Under Construction	The following table represents the deferred revenue, cost of VOI sales and direct selling costs from sales of VOIs related to projects under construction as of June 30, 2021: June 30, December 31, ($ in millions) 2021 2020 Sales of VOIs, net $ 242 $ 169 Cost of VOI sales (1) 73 50 Sales and marketing expense 35 25 (1) Includes anticipated Cost of VOI sales related to inventory associated with Sales of VOIs under construction that will be acquired under a just-in-time arrangement once construction is complete.
Schedule of Remaining Transaction Price Related to Advanced Deposits Club Activation Fees and Club Bonus Points	The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Club Bonus Points as of June 30, 2021: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 117 18 months Upon customer stays Club activation fees 62 7 years Straight-line basis over average inventory holding period Club Bonus Points 38 24 months Upon redemption

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2021
Cash And Cash Equivalents [Abstract]
Schedule of Restricted Cash	Restricted cash was as follows: June 30, December 31, ($ in millions) 2021 2020 Escrow deposits on VOI sales $ 85 $ 69 Reserves related to non-recourse debt (1) 27 29 Escrow deposits for recourse debt (2) 1,350 — $ 1,462 $ 98 (1) See Note 11: Debt & Non-recourse Debt for further discussion. (2) In June 2021, we entered into indentures in connection with the issuance of senior notes relating to the recently announced Agreement and Plan of Merger, as amended ("Merger Agreement") with Dakota Holdings, Inc. ("Diamond"). The gross proceeds of the offerings were deposited and will be held in an escrow account until the date that certain escrow conditions are satisfied, which are substantially upon closing of the Merger. See Note 11: Debt & Non-recourse Debt and Note 20: Planned Acquisition for further discussion.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Summary of Accounts Receivable, Net of Allowance for Credit Losses	The following table represents our accounts receivable, net of allowance for credit losses. Accounts receivable within the scope of ASC 326 are measured at amortized cost. June 30, ($ in millions) 2021 Fee-for-service commissions (1) $ 38 Real estate and financing 31 Resort and club operations 33 Tax receivables 109 Other receivables (2) 9 Total $ 220 (1) Net of allowance. (2) Primarily includes individually insignificant accounts receivable recognized in the ordinary course of business, the allowances for which are also individually insignificant.
Changes in Allowance for Fee-for-Service Commissions	The changes in our allowance for fee-for-service commissions were as follows: June 30, ($ in millions) 2021 Balance as of December 31, 2020 $ 18 Current period provision for expected credit losses 4 Write-offs charged against the allowance ( 5 ) Balance at June 30, 2021 17

Timeshare Financing Receivabl_2

Timeshare Financing Receivables (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of Financing Receivables	Timeshare financing receivables were as follows: June 30, 2021 ($ in millions) Securitized Unsecuritized (1) Total Timeshare financing receivables $ 684 $ 446 $ 1,130 Less: allowance for financing receivables losses ( 47 ) ( 156 ) ( 203 ) $ 637 $ 290 $ 927 December 31, 2020 ($ in millions) Securitized Unsecuritized (1) Total Timeshare financing receivables $ 805 $ 380 $ 1,185 Less: allowance for financing receivables losses ( 63 ) ( 148 ) ( 211 ) $ 742 $ 232 $ 974 (1) Includes amounts used as collateral to secure a non-recourse revolving timeshare receivable credit facility ("Timeshare Facility") as well as amounts held as future collateral for securitization activities.
Schedule of Future Payments Due from Financing Receivables	Our timeshare financing receivables as of June 30, 2021 mature as follows: ($ in millions) Securitized Unsecuritized Total Year 2021 (remaining) $ 45 $ 21 $ 66 2022 92 38 130 2023 94 41 135 2024 96 44 140 2025 93 47 140 Thereafter 264 255 519 684 446 1,130 Less: allowance for financing receivables losses ( 47 ) ( 156 ) ( 203 ) $ 637 $ 290 $ 927
Schedule of Financing Receivables by Average FICO Score	Our gross timeshare financing receivables balances by average FICO score were as follows: June 30, December 31, ($ in millions) 2021 2020 FICO score 700+ $ 675 $ 711 600-699 251 266 <600 35 36 No score (1) 169 172 $ 1,130 $ 1,185 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Details the Origination Year of Gross Timeshare Financing Receivables Balances by Average FICO Score	The following table details the origination year of our gross timeshare financing receivables by the origination year and average FICO score as of June 30, 2021: ($ in millions) 2021 2020 2019 2018 2017 Prior Total FICO score 700+ $ 97 $ 101 $ 176 $ 118 $ 78 $ 105 $ 675 600-699 31 39 66 43 28 44 251 <600 4 6 9 5 4 7 35 No score (1) 23 29 42 29 14 32 169 $ 155 $ 175 $ 293 $ 195 $ 124 $ 188 $ 1,130 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Schedule of Past Due Financing Receivables	As of June 30, 2021 and December 31, 2020 , we had ceased accruing interest on timeshare financing receivables with an aggregate principal balance of $ 108 million and $ 117 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: June 30, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 671 $ 338 $ 1,009 31 - 90 days past due 7 6 13 91 - 120 days past due 2 2 4 121 days and greater past due 4 100 104 $ 684 $ 446 $ 1,130 December 31, 2020 ($ in millions) Securitized Unsecuritized Total Current $ 783 $ 265 $ 1,048 31 - 90 days past due 11 9 20 91 - 120 days past due 5 3 8 121 days and greater past due 6 103 109 $ 805 $ 380 $ 1,185
Schedule of Change in Allowance for Financing Receivables Losses	The changes in our allowance for financing receivables losses were as follows: June 30, 2021 ($ in millions) Securitized Unsecuritized Total Balance as of December 31, 2020 $ 63 $ 148 $ 211 Provision for financing receivables losses (1) ( 16 ) 44 28 Write-offs — ( 36 ) ( 36 ) Balance as of June 30, 2021 $ 47 $ 156 $ 203 June 30, 2020 ($ in millions) Securitized Unsecuritized Total Balance as of December 31, 2019 $ 54 $ 130 $ 184 Provision for financing receivables losses (1) ( 12 ) 57 45 Write-offs — ( 19 ) ( 19 ) Securitization 36 ( 36 ) — Balance as of June 30, 2020 $ 78 $ 132 $ 210 (1) Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory was comprised of the following: June 30, December 31, ($ in millions) 2021 2020 Completed unsold VOIs $ 527 $ 515 Construction in process 202 186 Land, infrastructure and other 1 1 $ 730 $ 702
Schedule of Costs of Sales True-ups Relating to VOI Products and Impacts on the Carrying Value of Inventory	The table below presents costs of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory. Six months ended June 30, ($ in millions) 2021 2020 Cost of sales true-up (1) $ 4 $ 5 (1) Costs of sales true-up reduced costs of VOI sales and increased inventory in the periods presented. Shown below are expenses incurred, recorded in Cost of VOI sales , related to granting credit to customers for their existing ownership when upgrading into fee-for service projects. Three months ended June 30, Six months ended June 30, ($ in millions) 2021 2020 2021 2020 Cost of VOI sales related to fee-for-service upgrades $ 2 $ — $ 3 $ 5

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment and Related Depreciation Expenses	Property and equipment were comprised of the following: June 30, December 31, ($ in millions) 2021 2020 Land $ 108 $ 109 Building and leasehold improvements 253 250 Furniture and equipment 63 65 Construction in progress 225 208 649 632 Accumulated depreciation ( 141 ) ( 131 ) $ 508 $ 501

Consolidated Variable Interes_2

Consolidated Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Consolidated Variable Interest Entities	Our unaudited condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily consisted of the following: June 30, December 31, ($ in millions) 2021 2020 Restricted cash $ 26 $ 28 Timeshare financing receivables, net 637 742 Non-recourse debt (1) 650 766

Debt & Non-recourse Debt (Table

Debt & Non-recourse Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings	The following table details our outstanding debt balance and its associated interest rates: June 30, December 31, ($ in millions) 2021 2020 Debt (1) Senior secured credit facilities: Term loan with a rate of 3.75 %, due 2023 $ 172 $ 177 Revolver with a weighted average rate of 3.75 %, due 2023 610 660 Senior notes with a rate of 6.125 %, due 2024 300 300 Senior notes with a rate of 5.000 %, due 2029 850 — Senior notes with a rate of 4.875 %, due 2031 500 — Other debt 27 27 2,459 1,164 Less: unamortized deferred financing costs and discount (2)(3) ( 28 ) ( 5 ) $ 2,431 $ 1,159 (1) As of June 30, 2021 and December 31, 2020 , weighted-average interest rates were 4.737 percent and 3.357 percent, respectively. (2) Amount includes deferred financing costs related to our term loan and senior notes of $ 1 million and $ 27 million, respectively, as of June 30, 2021 and $ 1 million and $ 4 million, respectively, as of Dec ember 31, 2020. (3) Amount does not include deferred financing costs of $ 3 million and $ 4 million as of June 30, 2021 and December 31, 2020, respectively, related to our revolving facility included in Other assets in our unaudited condensed consolidated balance sheets. The following table details our outstanding non-recourse debt balance and its associated interest rates: June 30, December 31, ($ in millions) 2021 2020 Non-recourse debt (1) Securitized Debt with a weighted average rate of 2.711 %, due 2028 $ 87 $ 106 Securitized Debt with a weighted average rate of 3.602 %, due 2032 172 202 Securitized Debt with a weighted average rate of 2.431 %, due 2033 183 216 Securitized Debt with a weighted average rate of 3.658 %, due 2039 215 251 657 775 Less: unamortized deferred financing costs (2) ( 7 ) ( 9 ) $ 650 $ 766 (1) As of June 30, 2021 and December 31, 2020 , weighted-average interest rates were 3.176 percent and 3.173 percent, respectively. (2) Amount relates to Securitized Debt only and does not include deferred financing costs of $ 2 million and $ 3 million as of June 30, 2021 and December 31, 2020, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets.
Schedule of Contractual Maturities of Debt	The contractual maturities of our debt and non-recourse debt as of June 30, 2021 were as follows: ($ in millions) Debt Non-recourse Total Year 2021 (remaining) $ 6 $ 91 $ 97 2022 11 168 179 2023 769 158 927 2024 300 76 376 2025 — 79 79 Thereafter 1,373 85 1,458 $ 2,459 $ 657 $ 3,116

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Carrying and Estimated Fair Value Amounts	The carrying amounts and estimated fair values of our financial assets and liabilities were as follows: June 30, 2021 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 927 $ — $ 1,141 Liabilities: Debt, net (2) 2,431 1,682 821 Non-recourse debt, net (2) 650 — 611 December 31, 2020 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 974 $ — $ 1,248 Liabilities: Debt, net (2) 1,159 315 871 Non-recourse debt, net (2) 766 — 732 (1) Carrying amount net of allowance for financing receivables losses. (2) Carrying amount net of unamortized deferred financing costs and discount.
Schedule of Land and Infrastructure Held for sale and Property and Equipment	As of June 30, 2021 and December 31, 2020, the estimated fair value of these assets were as follows and their carrying values were reflected in Land and infrastructure held for sale in our condensed consolidated balance sheets. Hierarchy Level ($ in millions) Level 2 Level 3 Land held for sale $ 47 $ — Infrastructure held for sale — 5

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule Of Supplemental Cash Flow Information Related To Operating Leases	Supplemental cash flow information related to operating leases was as follows: Six months ended June 30, ($ in millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 9 $ 9 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases — 5
Schedule Of Supplemental Balance Sheet Information Related To Operating Leases	Supplemental balance sheet information related to operating leases was as follows: June 30, December 31, 2021 2020 Weighted-average remaining lease term of operating leases (in years) 5.2 5.4 Weighted-average discount rate of operating leases 5.03 % 4.95 %
Future Minimum Lease Payments Under Non-Cancelable Operating Leases	The future minimum lease payments under noncancelable operating leases, due in each of the next five years and thereafter as of June 30, 2021, are as follows: ($ in millions) Operating Year 2021 (remaining) 8 2022 13 2023 13 2024 11 2025 10 Thereafter 12 Total future minimum lease payments $ 67 Less: imputed interest ( 8 ) Present value of lease liabilities $ 59

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock Option Valuation Assumptions	The weighted-average grant date fair value of these options was $ 13.30 , which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility 34.2 % Dividend yield 0 % Risk-free rate 1.1 % Expected term (in years) 6.0

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share, Basic and Diluted	The following table presents the calculation of our basic and diluted earnings (loss) per share (“EPS”). The weighted average shares outstanding used to compute basic EPS and diluted EPS for the three months ended June 30, 2021 was 85,650,144 and 86,838,601 , respectively, and 85,002,791 for the three months ended June 30, 2020. The weighted average shares outstanding used to compute basic EPS and diluted EPS for the six months ended June 30, 2021 were 85,479,870 and 86,539,505 , respectively, and 85,258,963 for the six months ended June 30, 2020. Three Months Ended June 30, Six Months Ended June 30, ($ and shares outstanding in millions, except per share amounts) 2021 2020 2021 2020 Basic EPS: Numerator: Net income (loss) (1) $ 9 $ ( 48 ) $ 2 $ ( 40 ) Denominator: Weighted average shares outstanding 86 85 85 85 Basic EPS $ 0.10 $ ( 0.56 ) $ 0.02 $ ( 0.47 ) Diluted EPS: Numerator: Net income (loss) (1) $ 9 $ ( 48 ) $ 2 $ ( 40 ) Denominator: Weighted average shares outstanding 87 85 87 85 Diluted EPS $ 0.10 $ ( 0.56 ) $ 0.02 $ ( 0.47 ) (1) Net income (loss) for the three months ended June 30, 2021 and 2020 was $ 8,700,776 and $( 47,751,330 ), respectively, and $ 1,929,361 and $( 39,924,584 ) for the six months ended June 30, 2021 and 2020 , respectively.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Summary of Amounts Included in Condensed Consolidated Statements of Operations Related to Fee for Service Arrangement	These amounts are summarized in the following table and are included in our unaudited condensed consolidated statements of operations as of the date they became related parties. Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2021 2020 2021 2020 Equity in earnings from unconsolidated affiliates $ 4 $ 1 $ 6 $ 4 Commissions and other fees 24 4 37 27

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Operating Performance Reconciled to Consolidated Amounts	The following table presents revenues for our reportable segments reconciled to consolidated amounts: Three Months Ended Six Months Ended ($ in millions) 2021 2020 2021 2020 Revenues: Real estate sales and financing $ 194 $ 56 $ 317 $ 262 Resort operations and club management (1)(2) 107 44 187 148 Total segment revenues 301 100 504 410 Cost reimbursements 38 23 73 72 Intersegment eliminations (1)(2) ( 5 ) — ( 8 ) ( 8 ) Total revenues $ 334 $ 123 $ 569 $ 474 (1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marketing package stays at resorts. These charges totaled $ 5 million for the three months ended June 30, 2021 . There were no such charges related to this for three months ended June 30, 2020. For the six months ended June 30, 2021 and 2020, these charges totaled $ 8 million. (2) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for the rental of model units to show prospective buyers. These charges totaled less than $ 1 million for the three and six months ended June 30, 2021 and 2020 .
Schedule of Adjusted EBITDA Reconciled to Net (Loss) Income	The following table presents Adjusted EBITDA for our reportable segments reconciled to net income (loss): Three Months Ended Six Months Ended ($ in millions) 2021 2020 2021 2020 Adjusted EBITDA: Real estate sales and financing (1) $ 45 $ ( 14 ) $ 72 $ 1 Resort operations and club management (1) 61 15 103 70 Segment Adjusted EBITDA 106 1 175 71 General and administrative ( 44 ) ( 22 ) ( 80 ) ( 43 ) Depreciation and amortization ( 12 ) ( 11 ) ( 23 ) ( 23 ) License fee expense ( 19 ) ( 6 ) ( 33 ) ( 28 ) Other loss, net ( 1 ) ( 3 ) ( 2 ) ( 1 ) Interest expense ( 17 ) ( 12 ) ( 32 ) ( 22 ) Income tax (expense) benefit ( 3 ) 8 3 7 Equity in earnings from unconsolidated affiliates 4 1 6 4 Impairment expense — — ( 1 ) — Other adjustment items (2) ( 5 ) ( 4 ) ( 11 ) ( 5 ) Net income (loss) $ 9 $ ( 48 ) $ 2 $ ( 40 ) (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) For the three and six months ended June 30, 2021 and 2020 , this amount includes costs associated with restructuring, one-time charges and other non-cash items included within our reportable segments.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Schedule of Remaining Purchase Obligations	As of June 30, 2021, our remaining obligation pursuant to these arrangements were expected to be incurred as follows: ($ in millions) 2021 2022 2023 2024 2025 Thereafter Total Inventory purchase obligations $ 209 $ 114 $ 58 $ 40 $ 3 $ 12 $ 436 Other commitments (1) 7 3 — — — — 10 Total $ 216 $ 117 $ 58 $ 40 $ 3 $ 12 $ 446

Organization - Additional Infor

Organization - Additional Information (Details)	Jun. 30, 2021PropertyUnit
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of timeshare properties | Property	62
Number of units in timeshare properties | Unit	500,968

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Reduction plan, Description	We also furloughed team members beginning in the second quarter of 2020 and completed a workforce reduction plan in the fourth quarter of 2020 that impacted approximately 1,500 team members. As of June 30, 2021, approximately 500 team members continue to be furloughed.

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)Segment	Dec. 31, 2020USD ($)
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of operating segments | Segment	2
Sales of VOIs
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenue earned that was included in the contract liabilities balance | $	$ 55,000,000	$ 90,000,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Disaggregated Revenues by Segment from Contracts with Customers (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation Of Revenue [Line Items]
Total revenues		$ 334	$ 123	$ 569	$ 474
Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		194	56	317	262
Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		102	44	179	140
Sales of VOIs, Net
Disaggregation Of Revenue [Line Items]
Total revenues		76		109	56
Sales of VOIs, Net | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		76	0	109	56
Sales, Marketing, Brand and Other Fees
Disaggregation Of Revenue [Line Items]
Total revenues		81	13	134	119
Sales, Marketing, Brand and Other Fees | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		81	13	134	119
Interest Income | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		31	36	62	74
Other Financing Revenue | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		6	7	12	13
Club Management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		29	22	56	47
Resort Management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		19	17	37	36
Rental | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	[1]	50	5	80	52
Ancillary Services | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		$ 4	$ 0	$ 6	$ 5
[1]	Excludes intersegment eliminations. See Note 18: Business Segments for additional information.

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Accounts Receivable from Contracts with Customers (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Accounts Receivables
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Receivables	$ 109	$ 64

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Composition of Contract Liabilities (Details) - Topic 606 - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Advanced deposits
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		$ 117	$ 117
Deferred Sales of VOIs of projects under construction
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		242	169
Club activation fees, annual dues and other
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		113	77
Club Bonus Point incentive liability
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	[1]	$ 38	$ 48
[1]	Amounts related to the Club Bonus Point incentive liability are included in Accounts payable, accrued expenses and other on our unaudited condensed consolidated balance sheets. This liability is comprised of unrecognized revenue for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Schedule of Deferred Revenue, Cost of VOI Sales and Direct Selling Costs from Sales of VOIs Related to Project Under Construction (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2021	Dec. 31, 2020
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Sales of VOIs, net		$ 372	$ 262
Sales of VOIs
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Sales of VOIs, net		242	169
Cost of VOI sales	[1]	73	50
Sales and marketing expense		$ 35	$ 25
[1]	Includes anticipated Cost of VOI sales related to inventory associated with Sales of VOIs under construction that will be acquired under a just-in-time arrangement once construction is complete.

Revenue from Contracts with C_8

Revenue from Contracts with Customers - Remaining Transaction Price (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Advanced deposits
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Remaining Transaction Price	$ 117
Recognition Period	18 months
Recognition Method	Upon customer stays
Club Activation Fees
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Remaining Transaction Price	$ 62
Recognition Period	7 years
Recognition Method	Straight-line basis over average inventory holding period
Club Bonus Points
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Remaining Transaction Price	$ 38
Recognition Period	24 months
Recognition Method	Upon redemption

Restricted Cash - Schedule of R

Restricted Cash - Schedule of Restricted Cash (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 1,462	$ 98
Escrow deposits on VOI sales
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		85	69
Reserves related to non-recourse debt
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	[1]	27	$ 29
Escrow deposits for recourse debt
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	[2]	$ 1,350
[1]	See Note 11: Debt & Non-recourse Debt for further discussion.
[2]	In June 2021, we entered into indentures in connection with the issuance of senior notes relating to the recently announced Agreement and Plan of Merger, as amended ("Merger Agreement") with Dakota Holdings, Inc. ("Diamond"). The gross proceeds of the offerings were deposited and will be held in an escrow account until the date that certain escrow conditions are satisfied, which are substantially upon closing of the Merger. See Note 11: Debt & Non-recourse Debt and Note 20: Planned Acquisition for further discussion.

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable, Net of Allowance for Credit Losses (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		$ 220	$ 119
Fee-for-Service Commission
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	[1]	38
Real Estate and Financing
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		31
Resort and Club Operations
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		33
Tax Receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		109
Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	[2]	$ 9
[1]	Net of allowance.
[2]	Primarily includes individually insignificant accounts receivable recognized in the ordinary course of business, the allowances for which are also individually insignificant.

Accounts Receivable - Changes i

Accounts Receivable - Changes in Allowance for Fee-for-Service Commissions (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Accounts Notes And Loans Receivable [Line Items]
Balance as of December 31, 2020	$ 20
Balance as of June 30, 2021	19
Fee-for-Service Commission
Accounts Notes And Loans Receivable [Line Items]
Balance as of December 31, 2020	18
Current period provision for expected credit losses	4
Write-offs charged against the allowance	(5)
Balance as of June 30, 2021	$ 17

Timeshare Financing Receivabl_3

Timeshare Financing Receivables - Schedule of Timeshare Financing Receivables (Details) - USD ($) $ in Millions		Jun. 30, 2021		Dec. 31, 2020		Jun. 30, 2020	Dec. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables		$ 1,130		$ 1,185
Less: allowance for financing receivables losses		(203)		(211)		$ (210)	$ (184)
Timeshare financing receivables, net		927		974
Securitized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables		684		805
Less: allowance for financing receivables losses		(47)		(63)		(78)	(54)
Timeshare financing receivables, net		637		742
Unsecuritized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables	[1]	446		380
Less: allowance for financing receivables losses		(156)	[1]	(148)	[1]	$ (132)	$ (130)
Timeshare financing receivables, net	[1]	$ 290		$ 232
[1]	Includes amounts used as collateral to secure a non-recourse revolving timeshare receivable credit facility ("Timeshare Facility") as well as amounts held as future collateral for securitization activities.

Timeshare Financing Receivabl_4

Timeshare Financing Receivables - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Decrease in Variable Consideration	$ (28)
Financing receivable, weighted average interest rate (as a percent)	12.62%
Financing receivable, weighted average remaining term (in years)	7 years 4 months 24 days
Financing receivable weighted average maturities year	2036
Interest receivable outstanding	$ 6	$ 7
Timeshare financing receivable not accruing interest	$ 108	117
Minimum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	1.50%
Maximum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	21.00%
Non-recourse Debt
Accounts Notes And Loans Receivable [Line Items]
Gross timeshare receivables securing the Timeshare Facility	$ 36	$ 17

Timeshare Financing Receivabl_5

Timeshare Financing Receivables - Maturities of Financing Receivables (Details) $ in Millions	Jun. 30, 2021USD ($)
Accounts Notes And Loans Receivable [Line Items]
2021 (remaining)	$ 66
2022	130
2023	135
2024	140
2025	140
Thereafter	519
Timeshare financing receivable maturities, gross	1,130
Less: allowance for financing receivables losses	(203)
Timeshare financing receivable maturities, net	927
Securitized
Accounts Notes And Loans Receivable [Line Items]
2021 (remaining)	45
2022	92
2023	94
2024	96
2025	93
Thereafter	264
Timeshare financing receivable maturities, gross	684
Less: allowance for financing receivables losses	(47)
Timeshare financing receivable maturities, net	637
Unsecuritized
Accounts Notes And Loans Receivable [Line Items]
2021 (remaining)	21
2022	38
2023	41
2024	44
2025	47
Thereafter	255
Timeshare financing receivable maturities, gross	446
Less: allowance for financing receivables losses	(156)
Timeshare financing receivable maturities, net	$ 290

Timeshare Financing Receivabl_6

Timeshare Financing Receivables - Financing Receivable by Average FICO Score (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables		$ 1,130	$ 1,185
More than 700
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables		675	711
600-699
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables		251	266
Less than 600
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables		35	36
No score
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables	[1]	$ 169	$ 172
[1]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.

Timeshare Financing Receivabl_7

Timeshare Financing Receivables - Details the Origination Year of Gross Timeshare Financing Receivables Balances by Average FICO Score (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		$ 1,130	$ 1,185
More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		675	711
600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		251	266
Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		35	36
No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[1]	169	$ 172
Year Of Origination 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		155
Year Of Origination 2021 | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		97
Year Of Origination 2021 | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		31
Year Of Origination 2021 | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		4
Year Of Origination 2021 | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	23
Year Of Origination 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		124
Year Of Origination 2017 | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		78
Year Of Origination 2017 | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		28
Year Of Origination 2017 | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		4
Year Of Origination 2017 | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	14
Year Of Origination 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		175
Year Of Origination 2020 | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		101
Year Of Origination 2020 | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		39
Year Of Origination 2020 | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		6
Year Of Origination 2020 | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	29
Year Of Origination Prior
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		188
Year Of Origination Prior | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		105
Year Of Origination Prior | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		44
Year Of Origination Prior | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		7
Year Of Origination Prior | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	32
Year Of Origination 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		293
Year Of Origination 2019 | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		176
Year Of Origination 2019 | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		66
Year Of Origination 2019 | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		9
Year Of Origination 2019 | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	42
Year Of Origination 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		195
Year Of Origination 2018 | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		118
Year Of Origination 2018 | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		43
Year Of Origination 2018 | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables		5
Year Of Origination 2018 | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables	[2]	$ 29
[1]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
[2]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.

Timeshare Financing Receivabl_8

Timeshare Financing Receivables - Past Due Financing Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,009	$ 1,048
Financing receivable, past due and current	1,130	1,185
31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	13	20
91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	4	8
121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	104	109
Securitized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	671	783
Financing receivable, past due and current	684	805
Securitized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	7	11
Securitized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	2	5
Securitized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	4	6
Unsecuritized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	338	265
Financing receivable, past due and current	446	380
Unsecuritized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	6	9
Unsecuritized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	2	3
Unsecuritized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	$ 100	$ 103

Timeshare Financing Receivabl_9

Timeshare Financing Receivables - Schedule of Change in Allowance For Financing Receivables Losses (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2021		Jun. 30, 2020
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan loss, beginning balance		$ 211		$ 184
Provision for financing receivables losses	[1]	28		45
Write-offs		(36)		(19)
Securitization				0
Allowance for loan loss, ending balance		203		210
Securitized
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan loss, beginning balance		63		54
Provision for financing receivables losses	[1]	(16)		(12)
Write-offs		0		0
Securitization				36
Allowance for loan loss, ending balance		47		78
Unsecuritized
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan loss, beginning balance		148	[2]	130
Provision for financing receivables losses	[1]	44		57
Write-offs		(36)		(19)
Securitization				(36)
Allowance for loan loss, ending balance		$ 156	[2]	$ 132
[1]	Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.
[2]	Includes amounts used as collateral to secure a non-recourse revolving timeshare receivable credit facility ("Timeshare Facility") as well as amounts held as future collateral for securitization activities.

Inventory - Schedule of Invento

Inventory - Schedule of Inventory, Noncurrent (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Completed unsold VOIs	$ 527	$ 515
Construction in process	202	186
Land, infrastructure and other	1	1
Inventory	$ 730	$ 702

Inventory - Schedule of Costs o

Inventory - Schedule of Costs of Sales True-ups Relating to VOI Products and Impacts on the Carrying Value of Inventory (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Time Share
Inventory [Line Items]
Expenses	[1]		$ 4	$ 5
Fee For Service Upgrades
Inventory [Line Items]
Expenses		$ 2	$ 3	$ 5
[1]	Costs of sales true-up reduced costs of VOI sales and increased inventory in the periods presented.

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 649	$ 632
Accumulated depreciation	(141)	(131)
Property and equipment, net	508	501
Land
Property Plant And Equipment [Line Items]
Property and equipment, gross	108	109
Building and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	253	250
Furniture and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	63	65
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 225	$ 208

Consolidated Variable Interes_3

Consolidated Variable Interest Entities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021USD ($)Entity	Jun. 30, 2020USD ($)	Dec. 31, 2020Entity
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of VIEs consolidated | Entity	4		4
Financial or other support to any VIEs | $	$ 0	$ 0

Consolidated Variable Interes_4

Consolidated Variable Interest Entities - Schedule of Consolidated Variable Interest Entities (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Assets, variable interest entity		$ 4,507	$ 3,134
Liabilities, variable interest entity		4,111	2,760
Variable Interest Entities
Variable Interest Entity [Line Items]
Assets, variable interest entity		686	800
Liabilities, variable interest entity		654	771
Variable Interest Entities | Restricted cash
Variable Interest Entity [Line Items]
Assets, variable interest entity		26	28
Variable Interest Entities | Timeshare financing receivables, net
Variable Interest Entity [Line Items]
Assets, variable interest entity		637	742
Variable Interest Entities | Non-recourse debt
Variable Interest Entity [Line Items]
Liabilities, variable interest entity	[1]	$ 650	$ 766
[1]	Net of deferred financing costs.

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)Affiliate	Dec. 31, 2020USD ($)
Schedule Of Investments [Line Items]
Number of unconsolidated affiliates | Affiliate	2
Debt	$ 2,431	$ 1,159
Investments in unconsolidated affiliates	$ 57	51
BRE Ace LLC
Schedule Of Investments [Line Items]
Equity method investment, ownership percentage	25.00%
1776 Holdings LLC
Schedule Of Investments [Line Items]
Equity method investment, ownership percentage	50.00%
BRE Ace LLC and 1776 Holding, LLC
Schedule Of Investments [Line Items]
Debt	$ 425	$ 454

Debt & Non-recourse Debt - Sche

Debt & Non-recourse Debt - Schedule of Outstanding Borrowings (Details) - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,459	$ 1,164
Less: unamortized deferred financing costs and discount	[1],[2]	(28)	(5)
Long-term debt		2,431	1,159
Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(3)	(4)
Revolver with a weighted average rate of 3.75%, due 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross		610	660
Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Long-term debt, gross		850
Less: unamortized deferred financing costs and discount		(23)
Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Long-term debt, gross		500
Less: unamortized deferred financing costs and discount		(23)
Line of Credit | Term loan with a rate of 3.75%, due 2023
Debt Instrument [Line Items]
Long-term debt, gross		172	177
Less: unamortized deferred financing costs and discount		(1)	(1)
Senior Notes
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(27)	(4)
Senior Notes | Senior notes with a rate of 6.125%, due 2024
Debt Instrument [Line Items]
Long-term debt, gross		300	300
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Long-term debt, gross		850	0
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Long-term debt, gross		500	0
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross		27	27
Non-recourse Debt
Debt Instrument [Line Items]
Long-term debt, gross		657	775
Less: unamortized deferred financing costs and discount	[3]	(7)	(9)
Long-term debt		650	766
Non-recourse Debt | Securitized Debt with a weighted average rate of 2.711%, due 2028
Debt Instrument [Line Items]
Long-term debt, gross		87	106
Non-recourse Debt | Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Long-term debt, gross		172	202
Non-recourse Debt | Securitized Debt with a weighted average rate of 2.431%, due 2033
Debt Instrument [Line Items]
Long-term debt, gross		183	216
Non-recourse Debt | Securitized Debt with a weighted average rate of 3.658%, due 2039
Debt Instrument [Line Items]
Long-term debt, gross		$ 215	$ 251
[1]	(3) Amount does not include deferred financing costs of $ 3 million and $ 4 million as of June 30, 2021 and December 31, 2020, respectively, related to our revolving facility included in Other assets in our unaudited condensed consolidated balance sheets.
[2]	(2) Amount includes deferred financing costs related to our term loan and senior notes of $ 1 million and $ 27 million, respectively, as of June 30, 2021 and $ 1 million and $ 4 million, respectively, as of Dec
[3]	Amount relates to Securitized Debt only and does not include deferred financing costs of $ 2 million and $ 3 million as of June 30, 2021 and December 31, 2020, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets.

Debt & Non-recourse Debt - Sc_2

Debt & Non-recourse Debt - Schedule of Outstanding Borrowings (Parenthetical) (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, average interest rate		4.737%	3.357%
Less: unamortized deferred financing costs and discount	[1],[2]	$ (28)	$ (5)
Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(23)
Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(23)
Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (3)	$ (4)
Revolving Credit Facility | Revolver with a weighted average rate of 3.75%, due 2023
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.75%	3.75%
Debt instrument, maturity year		2023	2023
Line of Credit | Term loan with a rate of 3.75%, due 2023
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.75%	3.75%
Debt instrument, maturity year		2023	2023
Less: unamortized deferred financing costs and discount		$ (1)	$ (1)
Senior Notes
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (27)	$ (4)
Senior Notes | Senior notes with a rate of 6.125%, due 2024
Debt Instrument [Line Items]
Debt instrument, maturity year		2024	2024
Debt instrument, stated interest rate		6.125%	6.125%
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt instrument, maturity year		2029	2029
Debt instrument, stated interest rate		5.00%	5.00%
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Debt instrument, maturity year		2031	2031
Debt instrument, stated interest rate		4.875%	4.875%
Non-recourse Debt
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.176%	3.173%
Less: unamortized deferred financing costs and discount	[3]	$ (7)	$ (9)
Non-recourse Debt | Securitized Debt with a weighted average rate of 2.711%, due 2028
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.711%	2.711%
Debt instrument, maturity year		2028	2028
Non-recourse Debt | Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.602%	3.602%
Debt instrument, maturity year		2032	2032
Non-recourse Debt | Securitized Debt with a weighted average rate of 2.431%, due 2033
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.431%	2.431%
Debt instrument, maturity year		2033	2033
Non-recourse Debt | Securitized Debt with a weighted average rate of 3.658%, due 2039
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.658%	3.658%
Debt instrument, maturity year		2039	2039
Non-recourse Debt | Timeshare Facility with an average rate of X.XXX%, due 2022
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (2)	$ (3)
[1]	(3) Amount does not include deferred financing costs of $ 3 million and $ 4 million as of June 30, 2021 and December 31, 2020, respectively, related to our revolving facility included in Other assets in our unaudited condensed consolidated balance sheets.
[2]	(2) Amount includes deferred financing costs related to our term loan and senior notes of $ 1 million and $ 27 million, respectively, as of June 30, 2021 and $ 1 million and $ 4 million, respectively, as of Dec
[3]	Amount relates to Securitized Debt only and does not include deferred financing costs of $ 2 million and $ 3 million as of June 30, 2021 and December 31, 2020, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets.

Debt & Non-recourse Debt - Addi

Debt & Non-recourse Debt - Additional Information (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Debt issuance costs	[1],[2]	$ 28		$ 5
Amortization of deferred financing costs, contract costs, and other		10	$ 9
Debt agreement, principle amount		2,459		1,164
Accumulated other comprehensive loss, Qualifying as hedge		1
Restricted cash		1,462		98
Reserves related to non-recourse debt
Debt Instrument [Line Items]
Restricted cash	[3]	27		29
Restricted cash and cash equivalents depository accounts		27		29
Timeshare Facility
Debt Instrument [Line Items]
Term loan outstanding		450
Remaining borrowing capacity		450		450
Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt issuance costs		23
Debt agreement, principle amount		850
Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Debt issuance costs		23
Debt agreement, principle amount		500
Interest Expense
Debt Instrument [Line Items]
Amortization of deferred financing costs, contract costs, and other		$ 2
LIBOR
Debt Instrument [Line Items]
Derivative fixed interest rate		0.53%
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs		$ 27		4
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 850		$ 0
Debt instrument, stated interest rate		5.00%		5.00%
Debt instrument, maturity year		2029		2029
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 500		$ 0
Debt instrument, stated interest rate		4.875%		4.875%
Debt instrument, maturity year		2031		2031
Revolving Credit Facility Amended
Debt Instrument [Line Items]
Debt issuance costs		$ 1
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs		$ 3		$ 4
Interest rate on revolving credit facility description		one month LIBOR
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate on revolving credit facility		3.50%
Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate on revolving credit facility		0.25%
Revolving Credit Facility | Senior Secured Credit Facilities
Debt Instrument [Line Items]
Debt instrument repaid amount		$ 55
Letters of credit outstanding, amount		1		$ 1
Term Loan
Debt Instrument [Line Items]
Debt instrument face amount		$ 172
Secured Term B Loan Facility
Debt Instrument [Line Items]
Debt instrument, term		7 years
Proceed from credit facility		$ 1,300
Secured Term B Loan Facility | Other Assets
Debt Instrument [Line Items]
Debt issuance costs		$ 3
[1]	(3) Amount does not include deferred financing costs of $ 3 million and $ 4 million as of June 30, 2021 and December 31, 2020, respectively, related to our revolving facility included in Other assets in our unaudited condensed consolidated balance sheets.
[2]	(2) Amount includes deferred financing costs related to our term loan and senior notes of $ 1 million and $ 27 million, respectively, as of June 30, 2021 and $ 1 million and $ 4 million, respectively, as of Dec
[3]	See Note 11: Debt & Non-recourse Debt for further discussion.

Debt & Non-recourse Debt - Sc_3

Debt & Non-recourse Debt - Schedule of Contractual Maturities of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021 (remaining)	$ 6
2022	11
2023	769
2024	300
2025	0
Thereafter	1,373
Long-term debt	2,459	$ 1,164
Non-recourse Debt
Debt Instrument [Line Items]
2021 (remaining)	91
2022	168
2023	158
2024	76
2025	79
Thereafter	85
Long-term debt	657	$ 775
Debt and Non-recourse Debt
Debt Instrument [Line Items]
2021 (remaining)	97
2022	179
2023	927
2024	376
2025	79
Thereafter	1,458
Long-term debt	$ 3,116

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying and Estimated Fair Value Amounts (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Carrying Amount
Assets:
Timeshare financing receivables, net	$ 927	$ 974	[1]
Liabilities:
Debt, net	2,431	1,159	[2]
Non-recourse debt, net	650	766
Level 1
Liabilities:
Debt, net	1,682	315	[2]
Level 3
Assets:
Timeshare financing receivables, net	1,141	1,248	[1]
Liabilities:
Debt, net	821	871	[2]
Non-recourse debt, net	$ 611	$ 732
[1]	Carrying amount net of allowance for financing receivables losses.
[2]	Carrying amount net of unamortized deferred financing costs and discount.

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Land and Infrastructure Held for sale and Property and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Infrastructure held for sale	$ 1	$ 1
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	47
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Infrastructure held for sale	$ 5

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Leases starting expiration date			2021
Leases ending expiration date			2030
Rent expense	$ 5	$ 5	$ 9	$ 10
Short-term and variable lease costs	$ 1	$ 1	$ 2	$ 2

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 9	$ 9
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$ 0	$ 5

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Details)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term of operating leases (in years)	5 years 2 months 12 days	5 years 4 months 24 days
Weighted-average discount rate of operating leases	5.03%	4.95%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 8
2022	13
2023	13
2024	11
2025	10
Thereafter	12
Total future minimum lease payments	67
Less: imputed interest	(8)
Present value of lease liabilities	$ 59	$ 67

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	30.00%	12.00%
Actual effective income tax rate (as a percent)	300.00%	15.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share-based compensation expense	$ 14	$ 6	$ 18	$ 4
Unrecognized compensation costs for unvested awards	$ 35		$ 35
Unrecognized compensation costs, weighted average period for recognition			1 year 7 months 6 days
Shares of common stock available for future issuance	4,026,124		4,026,124
2017 Employees Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum shares of common stock issued under ESPP			2,500,000
Minimum | 2017 Employees Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair market value per share of common stock			95.00%
Maximum | 2017 Employees Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to ESPP	$ 1	$ 1	$ 1	$ 1
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)			124,711
Grant date fair value (in dollars per share)			$ 38.22
Award vesting period			3 years
Performance Shares | Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage			50.00%
Performance Shares | VOI sale | Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage			50.00%
Service Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)			583,077
Grant date fair value (in dollars per share)			$ 38.46
Service Restricted Stock Units (RSUs) | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)			542,793
Exercise price (in dollars per share)			$ 38.22
Grant date fair value (in dollars per share)			$ 13.30
Stock options exercisable (in shares)	1,264,836		1,264,836
Stock Options | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years

Share-Based Compensation - Opti

Share-Based Compensation - Options Assumptions (Details) - Stock Options	6 Months Ended
	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	34.20%
Dividend yield	0.00%
Risk-free rate	1.10%
Expected term (in years)	6 years

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares outstanding, Basic	85,650,144	85,002,791	85,479,870	85,258,963
Weighted average shares outstanding, diluted	86,838,601	85,002,791	86,539,505	85,258,963
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares		175,635		357,912
Stock Compensation Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares	788,168	3,027,069	568,891	2,429,811

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ 8,700,776	$ (7,000,000)	$ (47,751,330)	$ 8,000,000	$ 1,929,361	$ (39,924,584)
Denominator:
Weighted average shares outstanding, Basic	85,650,144		85,002,791		85,479,870	85,258,963
Basic EPS	$ 0.10		$ (0.56)		$ 0.02	$ (0.47)
Denominator:
Weighted average shares outstanding, diluted	86,838,601		85,002,791		86,539,505	85,258,963
Diluted EPS	$ 0.10		$ (0.56)		$ 0.02	$ (0.47)

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Share, Basic and Diluted (Parenthetical) (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 8,700,776	$ (7,000,000)	$ (47,751,330)	$ 8,000,000	$ 1,929,361	$ (39,924,584)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due from related parties	$ 13	$ 7
BRE Ace LLC
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	25.00%
1776 Holding, LLC
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%

Related Party Transactions - Su

Related Party Transactions - Summary of Amounts Included in Condensed Consolidated Statements of Operations Related to Fee for Service Arrangement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Equity in earnings from unconsolidated affiliates	$ 4	$ 1	$ 6	$ 4
BRE Ace LLC
Related Party Transaction [Line Items]
Equity in earnings from unconsolidated affiliates	4	1	6	4
Commissions and other fees	$ 24	$ 4	$ 37	$ 27

Business Segments - Additional

Business Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Schedule of

Business Segments - Schedule of Segment Operating Performance Reconciled to Consolidated Amounts (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		$ 334	$ 123	$ 569	$ 474
Real Estate and Financing Segment
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		194	56	317	262
Resort Operations and Club Management Segment
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		102	44	179	140
Operating segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		301	100	504	410
Operating segments | Real Estate and Financing Segment
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		194	56	317	262
Operating segments | Resort Operations and Club Management Segment
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[1],[2]	107	44	187	148
Segment Reconciling Items
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		38	23	73	72
Intersegment eliminations
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		$ (5)	$ 0	$ (8)	$ (8)
[1]	(1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marketing package stays at resorts. These charges totaled $ 5 million for the three months ended June 30, 2021 . There were no such charges related to this for three months ended June 30, 2020. For the six months ended June 30, 2021 and 2020, these charges totaled $ 8 million.
[2]	(2) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for the rental of model units to show prospective buyers. These charges totaled less than $ 1 million for the three and six months ended June 30, 2021 and 2020 .

Business Segments - Schedule _2

Business Segments - Schedule of Segment Operating Performance Reconciled to Consolidated Amounts (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 334	$ 123	$ 569	$ 474
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	(5)	0	(8)	(8)
Intersegment eliminations | Maximum
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental expense for model units	1	1	1	1
Intersegment eliminations | Billing and Collection Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 5	$ 0	$ 8	$ 8

Business Segments - Schedule _3

Business Segments - Schedule of Adjusted EBITDA Reconciled to Net (Loss) Income (Details) - USD ($)		3 Months Ended				6 Months Ended
		Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
General and administrative		$ (44,000,000)		$ (22,000,000)		$ (80,000,000)	$ (43,000,000)
Depreciation and amortization		(12,000,000)		(11,000,000)		(23,000,000)	(23,000,000)
Other (loss) gain, net		(1,000,000)		(3,000,000)		(2,000,000)	(1,000,000)
Interest expense		(17,000,000)		(12,000,000)		(32,000,000)	(22,000,000)
Income tax benefit (expense)		3,000,000		(8,000,000)		(3,000,000)	(7,000,000)
Equity in earnings from unconsolidated affiliates		4,000,000		1,000,000		6,000,000	4,000,000
Impairment expense						(1,000,000)
Net (loss) income		8,700,776	$ (7,000,000)	(47,751,330)	$ 8,000,000	1,929,361	(39,924,584)
Operating segments | Real Estate and Financing Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	[1]	45,000,000		(14,000,000)		72,000,000	1,000,000
Operating segments | Resort Operations and Club Management Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	[1]	61,000,000		15,000,000		103,000,000	70,000,000
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA		106,000,000		1,000,000		175,000,000	71,000,000
General and administrative		(44,000,000)		(22,000,000)		(80,000,000)	(43,000,000)
Depreciation and amortization		(12,000,000)		(11,000,000)		(23,000,000)	(23,000,000)
License fee expense		(19,000,000)		(6,000,000)		(33,000,000)	(28,000,000)
Other (loss) gain, net		(1,000,000)		(3,000,000)		(2,000,000)	(1,000,000)
Interest expense		(17,000,000)		(12,000,000)		(32,000,000)	(22,000,000)
Income tax benefit (expense)		3,000,000		(8,000,000)		(3,000,000)	(7,000,000)
Equity in earnings from unconsolidated affiliates		4,000,000		1,000,000		6,000,000	4,000,000
Impairment expense						1,000,000
Other adjustment items	[2]	$ 5,000,000		$ 4,000,000		$ 11,000,000	$ 5,000,000
[1]	(1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion.
[2]	(2) For the three and six months ended June 30, 2021 and 2020 , this amount includes costs associated with restructuring, one-time charges and other non-cash items included within our reportable segments.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Long-term Purchase Commitment [Line Items]
Reasonably estimable of possible losses	$ 0
Inventories
Long-term Purchase Commitment [Line Items]
Purchase commitment	$ 436,000,000
Purchase commitment, period (in years)	10 years
Vacation ownership intervals commitment	$ 18,000,000	$ 9,000,000
Other Commitments
Long-term Purchase Commitment [Line Items]
Purchase commitment	$ 10,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Remaining Purchase Obligations (Details) $ in Millions	Jun. 30, 2021USD ($)
Long-term Purchase Commitment [Line Items]
2021 (remaining)	$ 216
2022	117
2023	58
2024	40
2025	3
Thereafter	12
Total	446
Inventory Purchase Obligations
Long-term Purchase Commitment [Line Items]
2021 (remaining)	209
2022	114
2023	58
2024	40
2025	3
Thereafter	12
Total	436
Other Commitments
Long-term Purchase Commitment [Line Items]
2021 (remaining)	7	[1]
2022	3	[1]
Total	$ 10	[1]
[1]	Primarily relates to commitments related to information technology and brand licensing in the normal course of business.

Planned Acquisition - Additiona

Planned Acquisition - Additional Information (Details) - Merger Agreement $ / shares in Units, $ in Billions	Mar. 10, 2021USD ($)$ / sharesshares
Business Acquisition [Line Items]
Business combination, equity fair value | $	$ 1.4
Business combination, number of shares issuable | shares	34,700,000
Business combination, share price | $ / shares	$ 0.01
Business combination, percentage of interests acquired	72.00%
Apollo
Business Acquisition [Line Items]
Business combination, percentage of interests acquired	28.00%

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Purchase of timeshare units		$ 527	$ 515
Debt agreement, principle amount		$ 2,459	$ 1,164
Subsequent Event | Purchase and Sales Agreement
Subsequent Event [Line Items]
Purchase of timeshare units	$ 53
Subsequent Event | Purchase and Sales Agreement | Timeshare Facility
Subsequent Event [Line Items]
Debt agreement, principle amount	$ 96