Hilton Grand Vacations (HGV) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
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	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		120,258,547
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	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 514	$ 432
Restricted cash	303	263
Accounts receivable, net of allowance for doubtful accounts of $46 and $39	447	302
Timeshare financing receivables, net	1,718	1,747
Inventory	1,215	1,240
Property and equipment, net	754	756
Operating lease right-of-use assets, net	65	70
Investments in unconsolidated affiliates	62	59
Goodwill	1,351	1,377
Intangible assets, net	1,400	1,441
Land and infrastructure held for sale	41	41
Other assets	572	280
TOTAL ASSETS (variable interest entities - $973 and $1,100)	8,442	8,008
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	964	673
Advanced deposits	126	112
Debt, net	2,913	2,913
Non-recourse debt, net	1,203	1,328
Operating lease liabilities	85	87
Deferred revenues	395	237
Deferred income tax liabilities	691	670
Total liabilities (variable interest entities - $1,047 and $1,199)	6,377	6,020
Commitments and contingencies - see Note 21
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of March 31, 2022 and December 31, 2021	0	0
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 120,258,347 shares issued and outstanding as of March 31, 2022 and 119,904,001 shares issued and outstanding as of December 31, 2021	1	1
Additional paid-in capital	1,634	1,630
Accumulated retained earnings	408	357
Accumulated other comprehensive income	22	0
Total equity	2,065	1,988
TOTAL LIABILITIES AND EQUITY	$ 8,442	$ 8,008

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts receivable	$ 46	$ 39
Assets, variable interest entity	8,442	8,008
Liabilities, variable interest entity	$ 6,377	$ 6,020
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)	120,258,347	119,904,001
Common Stock, shares outstanding (in shares)	120,258,347	119,904,001
Variable Interest Entities
Assets, variable interest entity	$ 973	$ 1,100
Liabilities, variable interest entity	$ 1,047	$ 1,199

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenues
Total revenues		$ 779,000,000	$ 235,000,000
Expenses
General and administrative		42,000,000	21,000,000
Depreciation and amortization		60,000,000	11,000,000
Impairment expense		3,000,000	1,000,000
Total operating expenses		679,000,000	234,000,000
Interest expense		(33,000,000)	(15,000,000)
Equity in earnings from unconsolidated affiliates		3,000,000	2,000,000
Other (loss) gain, net		1,000,000	(1,000,000)
Income (Loss) before income taxes		71,000,000	(13,000,000)
Income tax (expense) benefit		(20,000,000)	6,000,000
Net income (Loss)	[1]	$ 50,768,844	$ (6,771,415)
Earnings (Loss) per share:
Basic		$ 0.42	$ (0.08)
Diluted		$ 0.42	$ (0.08)
Sales of VOIs, Net
Revenues
Total revenues		$ 269,000,000	$ 33,000,000
Sales, Marketing, Brand and Other Fees
Revenues
Total revenues		119,000,000	53,000,000
Financing
Revenues
Total revenues		64,000,000	37,000,000
Expenses
Expenses		19,000,000	13,000,000
Resort and Club Management
Revenues
Total revenues		125,000,000	45,000,000
Expenses
Expenses		36,000,000	8,000,000
Rental and Ancillary Services
Revenues
Total revenues		136,000,000	32,000,000
Expenses
Expenses		132,000,000	31,000,000
Cost Reimbursements
Revenues
Total revenues		66,000,000	35,000,000
Expenses
Expenses		66,000,000	35,000,000
Acquisition and integration related expense
Expenses
Expenses		13,000,000	15,000,000
Cost of VOI Sales
Expenses
Expenses		40,000,000	3,000,000
Sales and Marketing
Expenses
Expenses		243,000,000	82,000,000
License Fee Expense
Expenses
Expenses		$ 25,000,000	$ 14,000,000
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	[1]	$ 50,768,844	$ (6,771,415)
Derivative instrument adjustments, net of tax		22,000,000	0
Other comprehensive income, net of tax		22,000,000	0
Comprehensive income (loss)		$ 73,000,000	$ (7,000,000)
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income (loss)	[1]	$ 50,768,844	$ (6,771,415)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		60,000,000	11,000,000
Amortization of deferred financing costs, acquisition premiums and other		12,000,000	6,000,000
Provision for financing receivables losses		31,000,000	16,000,000
Impairment expense		3,000,000	1,000,000
Other loss, net		0	1,000,000
Share-based compensation		11,000,000	4,000,000
Deferred income tax expense (benefit)		0	(21,000,000)
Equity in earnings from unconsolidated affiliates		(3,000,000)	(2,000,000)
Net changes in assets and liabilities, net of effects of acquisition:
Accounts receivable, net		(107,000,000)	8,000,000
Timeshare financing receivables, net		(11,000,000)	19,000,000
Inventory		26,000,000	(14,000,000)
Purchases and development of real estate for future conversion to inventory		(1,000,000)	(6,000,000)
Other assets		(264,000,000)	(27,000,000)
Accounts payable, accrued expenses and other		290,000,000	2,000,000
Advanced deposits		14,000,000	(3,000,000)
Deferred revenues		158,000,000	74,000,000
Net cash provided by operating activities		270,000,000	62,000,000
Investing Activities
Capital expenditures for property and equipment		(8,000,000)	(1,000,000)
Software capitalization costs		(6,000,000)	(4,000,000)
Net cash provided by (used in) investing activities		(14,000,000)	(5,000,000)
Financing Activities
Issuance of non-recourse debt		155,000,000	0
Repayment of debt		(3,000,000)	(2,000,000)
Repayment of non-recourse debt		(277,000,000)	(69,000,000)
Debt issuance costs and discounts		0	(3,000,000)
Payment of withholding taxes on vesting of restricted stock units		(8,000,000)	(5,000,000)
Proceeds from stock option exercises		1,000,000	2,000,000
Other financing activity		(1,000,000)	(1,000,000)
Net cash used in financing activities		(133,000,000)	(78,000,000)
Effect of changes in exchange rates on cash, cash equivalents & restricted cash		(1,000,000)	0
Net increase (decrease) in cash, cash equivalents and restricted cash		122,000,000	(21,000,000)
Cash, cash equivalents and restricted cash, beginning of period		695,000,000	526,000,000
Cash, cash equivalents and restricted cash, end of period		$ 817,000,000	$ 505,000,000
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (UNAUDITED) - USD ($)	Total		Common Stock	Additional Paid-in Capital	Accumulated Retained Earnings	Accumulated Other Comprehensive Income
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			84,000,000
Net income (loss)	(6,771,415)	[1]			(7,000,000)
Activity related to share-based compensation	2,000,000			2,000,000
Derivative instrument adjustments	0
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, 2021	$ 1,988,000,000		$ 1,000,000	1,630,000,000	357,000,000
Beginning balance, shares at Dec. 31, 2021	119,904,001		120,000,000
Net income (loss)	$ 50,768,844	[1]			51,000,000
Activity related to share-based compensation	4,000,000			4,000,000
Derivative instrument adjustments	22,000,000					$ 22,000,000
Ending balance, value at Mar. 31, 2022	$ 2,065,000,000		$ 1,000,000	$ 1,634,000,000	$ 408,000,000	$ 22,000,000
Ending balance, shares at Mar. 31, 2022	120,258,347		120,000,000
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1: Organization and Basis of Presentation 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. During 2021, we also acquired Diamond Resorts and are in the process of rebranding Diamond properties and sales centers to brands that meet Hilton standards. Our operations, which primarily consist of selling vacation ownership intervals and vacation ownership interests (collectively, “VOIs”, “VOI”) for us and third parties; financing and servicing loans provided to consumers for their timeshare purchases; operating resorts and multi-resort trusts; and managing our points-based Hilton Grand Vacations Club and Hilton Club exchange program (collectively the “Legacy-HGV Club”) and Diamond points-based clubs (the Legacy-HGV Club and Diamond Clubs are collectively referred to as “Clubs”). As of March 31, 2022 , we had 154 properties located in the United States (“U.S.”), Europe, Mexico, the Caribbean, Canada and Japan. A significant number of our properties and VOIs are concentrated in Florida, Nevada, Hawaii, Europe, California, Virginia and Arizona. Diamond Acquisition On August 2, 2021, we completed the acquisition of Dakota Holdings, Inc., the parent of Diamond Resorts International (the “Diamond Acquisition”). We completed the acquisition by exchanging 100 percent of the outstanding equity interests of Diamond for shares of HGV common stock. Pre-existing HGV shareholders owned approximately 72 percent of the combined company immediately after giving effect of the Diamond Acquisition, with certain funds controlled by Apollo Global Management Inc. (the "Apollo Funds" or, "Apollo") and other minority shareholders, who previously owned 100 percent of Diamond, holding the remaining, approximately 28 percent at the time the Diamond Acquisition was completed. Diamond also operates in the hospitality and VOI industry, with a worldwide resort network of global vacation destinations. Diamond’s portfolio consists of resort properties that we manage, are included in one of Diamond's single- and multi-use trusts (collectively, the "Diamond Collections" or "Collections"), or are Diamond branded resorts in which we own inventory, as well as affiliated resorts and hotels, which we do not manage, and which do not carry the Diamond brand but are a part of Diamond's network and, through THE Club® and other Club offerings (the “Diamond Clubs”), are available for its members to use as vacation destinations. Diamond’s operations primarily consist of: VOI sales and financing which includes marketing and sales of VOIs and consumer financing for purchasers of the Company's VOIs; operations related to the management of the homeowners associations (the “HOAs”) for resort properties and the Diamond Collections, operating and managing points-based vacation clubs, and operation of certain resort amenities and management services. The unaudited condensed consolidated financial statements in this report include Diamond’s results of operations beginning on August 2, 2021. We refer to Diamond's business and operations that we acquired as "Legacy-Diamond", and our business and operations that existed both prior to and following the Diamond Acquisition as "Legacy-HGV." See Note 3: Diamond Acquisition for more information. 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. Our 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, 2021, included in our Annual Report on Form 10-K filed with the SEC on March 1, 2022. 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. The determination of a controlling financial interest is based upon the terms of the governing agreements of the respective entities, including the evaluation of rights held by other interests. If the entity is considered to be a variable interest entity (“VIE”), we determine whether we are the primary beneficiary, and then consolidate those VIEs for which we have determined we are the primary beneficiary. If the entity in which we hold an interest does not meet the definition of a VIE, we evaluate whether we have a controlling financial interest through our voting interests in the entity. We consolidate entities when we own more than 50 percent of the voting shares of a company or otherwise have a controlling financial interest. The consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with U.S. GAAP.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2: Summary of Significant Accounting Policies Reclassifications Certain prior period amounts in the unaudited condensed consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported total assets and total liabilities, net income or stockholders’ equity. Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted In March 2020, the FASB issued Accounting Standards Update 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. As of March 31, 2022, certain debt and non-recourse debt instruments, including swaps, continue to reference LIBOR. We have included transition language within our amended instruments that would allow for the replacement of LIBOR once an appropriate alternative has been determined. To the extent that any reference rate changes from LIBOR, we may choose to utilize the relief set forth within ASU 2020-04. We continue to evaluate the effect of this ASU, but we do not expect it to have a material impact on our consolidated financial statements. In March 2022, the FASB issued Accounting Standards Update 2022-02 (“ASU 2022-02”), Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . ASU 2022-02 provides, under Issue 2 - Vintage Disclosures, that an entity discloses current-period gross write-offs by year of origination for financing receivables and net investments in leases. For financing receivables, the disclosure is to present the amortized cost basis by credit quality indicator and class of financing receivable for the year of origination. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and is to be applied prospectively. We are currently evaluating the effects of this ASU to our disclosures.

Diamond Acquisition

Diamond Acquisition	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Diamond Acquisition	Note 3: Diamond Acquisition On August 2, 2021, (the “Acquisition Date”), we completed the Diamond Acquisition by exchanging 100 percent of the outstanding equity interests of Diamond to HGV common shares. Following the closing of the Diamond Acquisition, pre-existing HGV shareholders owned approximately 72 percent of the combined company after giving effect to the Diamond Acquisition, with Apollo Funds and other minority shareholders holding the remaining approximately 28 percent at the time the Diamond Acquisition was completed. Diamond is a leader in the vacation ownership industry focused on the infusion of hospitality and experiences through the full life cycle of an owner or members' life cycle relationship with Diamond. This strategic combination creates a more expansive industry offering, leveraging HGV's strong brand and net owner growth along with Diamond's diverse network of locations and strength in experiential offerings. The acquisition also diversifies our product offerings and allows us to expand our customer demographic. On the Acquisition Date, shareholders of Diamond received 0.32 shares of our common stock for each share of Diamond common stock, totaling approximately 28 percent of our total common shares outstanding. Additionally, in connection with the Diamond Acquisition, HGV repaid certain existing indebtedness of Diamond. The following table presents the fair value of each class of consideration transferred in relation to the Diamond Acquisition at the Acquisition Date. ($ in millions, except stock price amounts) HGV common stock shares issued for outstanding Diamond shares 33.93 HGV common stock price as of Acquisition Date (1) 40.71 Stock purchase price $ 1,381 Repayment of Legacy-Diamond debt $ 2,029 Total consideration transferred $ 3,410 (1) Represents the average of the opening and closing price of HGV stock on August 2, 2021. Preliminary Fair Values of Assets Acquired and Liabilities Assumed We accounted for the Diamond Acquisition as a business combination, which requires us to record the assets acquired and liabilities assumed at fair value as of the Acquisition Date. The preliminary fair values of the assets acquired and liabilities assumed, which are presented in the table below, and the related preliminary acquisition accounting are based on management’s estimates and assumptions, as well as information compiled by management, including the books and records of Diamond. Our estimates and assumptions are subject to change during the measurement period, not to exceed one year from the Acquisition Date. The magnitude of the Diamond Acquisition could necessitate the need to use the full one-year measurement period to adequately analyze and assess a number of the factors used in establishing the asset and liability fair values as of the Acquisition Date. The final values may also result in changes to amortization expense related to intangible assets and depreciation expense related to property and equipment, among other changes. Any potential adjustments made could be material in relation to the values presented in the table below. As of March 31, 2022, the primary areas of the purchase price allocation that are not yet finalized include the following: (1) finalizing the review and valuation of acquired intangible assets and assigning the useful lives to such assets; (2) finalizing the review and valuation of acquired undeveloped land, property and equipment (including key assumptions, inputs and estimates) and assigning the remaining useful lives to the depreciable assets; (3) finalizing the review of accounts receivable, including the evaluation of which receivables are purchased credit deteriorated; (4) finalizing the valuation of certain in-place contracts or contractual relationships (including but not limited to leases), including determining the appropriate amortization period; (5) finalizing the review and valuation of other acquired assets and assumed liabilities; and (6) finalizing our estimate of the impact of purchase accounting on deferred income tax liabilities. ($ in millions) Preliminary Amounts Recognized as of the Acquisition Date Assets acquired Cash and cash equivalents $ 310 Restricted cash 127 Accounts receivable, net of allowance for doubtful accounts 97 Timeshare financing receivables, net 825 Inventory 497 Property and equipment, net 298 Operating lease right-of-use assets, net 30 Intangible assets, net 1,431 Other assets 250 Total assets acquired $ 3,865 Liabilities assumed Accounts payable, accrued expenses and other $ 484 Non-recourse debt, net 660 Operating lease liabilities 33 Advanced deposits 4 Deferred revenues 140 Deferred income tax liabilities 485 Total liabilities assumed $ 1,806 Net assets acquired $ 2,059 Total consideration transferred $ 3,410 Goodwill (1) $ 1,351 (1) Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes. The measurement period adjustments recorded during the quarter ended March 31, 2022 resulted from changes to our estimates of the fair value of the acquired assets and assumed liabilities based on a revision to our valuation of insurance receivables given the ultimate determination of proceeds related to pre-acquisition business interruption insurance claims. The measurement period adjustments recognized include an adjustment to increase accounts receivable, net of allowance for doubtful accounts, for pre-acquisition contingencies, and the related tax impacts increasing deferred income tax liabilities. These resulted in a net adjustment to goodwill for the period of $ 26 million. The net income effect associated with the measurement period adjustments during the year ended March 31, 2022 were immaterial. Timeshare Financing Receivables We acquired timeshare financing receivables which consist of loans to customers who purchased vacation ownership products and chose to finance their purchases. These timeshare financing receivables are collateralized by the underlying VOIs and generally have 10-year amortizing repayment terms. We estimated the fair value of the timeshare financing receivables using a discounted cash flow model, which calculated a present value of expected future risk-adjusted cash flows over the remaining term of the respective timeshare financing receivables. We are continuing to evaluate the significant assumptions underlying the discounted cash flow model including default and prepayment assumptions, which could result in changes to our preliminary estimate. We do not expect any material changes to the provisional estimates. For purposes of our initial allocation, we have considered all acquired receivables to be purchase credit deteriorated. See Note 7: Timeshare Financing Receivables for additional information. Acquired timeshare financing receivables with credit deterioration as of the Acquisition Date were as follows: ($ in millions) As of August 2, 2021 Purchase price $ 825 Allowance for credit losses 512 Premium attributable to other factors ( 97 ) Par value $ 1,240 Inventory We acquired inventory which primarily consists of completed unsold VOIs and undeveloped land. We preliminarily estimated the value of acquired inventory using a discounted cash flows method, which included an estimate of cash flows expected to be generated from the sale of VOIs. Significant estimates and assumptions impacting the fair value of the acquired inventory that are subjective and/or require complex judgments include our estimates of operating costs and margins, and the discount rate. Certain other estimates and assumptions impacting the fair value of the acquired inventory involving less subjective and/or less complex judgments include: short-term and long-term revenue growth rates, capital expenditures, tax rates and other factors impacting the discounted cash flows. We are continuing to assess the market assumptions and property conditions, which could result in changes to these preliminary values. We do not expect any material changes to the provisional estimates for completed and unsold VOIs. Property and Equipment We acquired property and equipment, which includes land, building and leasehold improvements, furniture and fixtures and construction in progress. We preliminarily estimated the value of the majority of property and equipment using a mix of cost, market and discounted cash flow approaches, which included estimates of future income growth, capitalization rates, discount rates, and capital expenditure needs of the resorts. Certain property and equipment assets were preliminarily valued at carrying value, which is our best estimate of fair value at this time given the information available to us. We are continuing to assess the market assumptions and property conditions, which could result in changes to these preliminary values. Goodwill We recognized goodwill of approximately $ 1.4 billion in connection with the Diamond Acquisition. We have allocated the acquired goodwill to our segments, Real Estate Sales and Financing and Resort Operations and Club Management, as indicated in the table below. Our allocations may change throughout the measurement period as we continue to finalize the fair value of assets acquired and liabilities assumed in the Diamond Acquisition. Real Estate Sales and Financing Segment Resort Operations and Club Management Segment Total Consolidated Goodwill $ 996 $ 355 $ 1,351 Intangible Assets The following table presents our preliminary estimates of the fair values of the acquired Diamond’s identified intangible assets and their related estimated remaining useful lives. Estimated Fair Estimated Value Useful Life ($ in millions) (in years) Trade name $ 18 1.5 Management contracts 1,251 35.4 Club member relationships 139 14.4 Computer software 23 1.5 Total intangible assets $ 1,431 We estimated the fair value of Diamond’s trade name using the relief-from-royalty method, which applies an estimated royalty rate to forecasted future cash flows, discounted to present value. We estimated the value of management contracts and member relationships using the multi-period excess earnings method, which is a variation of the income approach. This method estimates an intangible asset’s value based on the present value of the incremental after-tax cash flows attributable to the intangible asset. Significant estimates and assumptions impacting the fair value of the acquired management contracts intangible that are subjective and/or require complex judgments include our estimates of operating costs and margins, and the discount rate. Certain other estimates and assumptions impacting the fair value of the acquired management contracts intangible involving less subjective and/or less complex judgments include: short-term and long-term revenue growth rates, attrition rates, capital expenditures, tax rates and other factors impacting the discounted cash flows. We continue to review Diamond’s contracts and historical performance in addition to evaluating the assumptions impacting the estimated values of such intangible assets and their respective useful lives, including the discount rate applied to the estimated cash flows and renewal and growth estimates and expected margins, which could result in changes to these preliminary values. We do not expect any material changes to the provisional estimates for trade names, management contracts, and club member relationships, other than as a result of working capital adjustments. Deferred Revenue Deferred revenue primarily relates to deferred sales incentives revenues, primarily related to Bonus Points, which are deferred and recognized upon redemption; and Club membership fees, which are deferred and recognized over the terms of the applicable contract term or membership on a straight-line basis. Additionally, deferred revenue includes maintenance fees collected from owners, in certain cases, which are earned by the relevant property owners' association over the applicable period. We preliminarily estimated the fair value of the deferred revenue at the carrying value of such liabilities as of the Acquisition Date. We continue to review Diamond’s contracts, which could result in changes to the preliminary estimate. We do not expect any material changes to the provisional estimates. Deferred Income Taxes Deferred income taxes primarily relate to the fair value of assets and liabilities acquired from Diamond, including timeshare financing receivables, inventory, property and equipment, intangible assets, and debt. We preliminarily estimated deferred income taxes based on statutory rates in the jurisdictions of the legal entities where the acquired assets and liabilities are recorded. We are continuing to assess the tax rates used, and we will update our estimate of deferred income taxes based on changes to our preliminary valuations of the related assets and liabilities and refinement of the effective tax rates, which could result in changes to these preliminary values. Debt As part of the acquisition and consideration transferred, we paid off $ 2,029 million of Diamond’s existing corporate debt, accrued interest and early termination penalties. Non-Recourse Debt We estimated the fair value of the securitized debt from VIEs and warehouse loan facilities, using a discounted cash flow model under the income approach. The significant assumptions in our analysis include default rates, prepayment rates, bond interest rates and other structural factors. We are continuing to evaluate the significant assumptions underlying the discounted cash flow model including default and prepayment assumptions, which could result in changes to our preliminary estimate. We do not expect any material changes to the provisional estimates . Lease Obligations We have recorded a preliminary estimate of the liability for those operating leases assumed in connection with the Diamond Acquisition with a remaining term in excess of a year. We measured the lease liabilities assumed at the present value of the remaining contractual lease payments based on the guidance in ASC 842 and using a discount rate determined as of the Acquisition Date. The right-of-use assets for such leases were initially measured at an amount equal to the lease liabilities, adjusted for favorable or unfavorable terms of the lease when compared with market terms. A small number of operating lease right of use assets and lease liabilities were preliminarily estimated at carrying value. We continue to assess the market assumptions, which could result in changes to our preliminary estimate. Pro Forma Results of Operations The following unaudited pro forma information presents the combined results of operations of HGV and Diamond as if we had completed the Diamond Acquisition o n January 1, 2021, the first day of our prior fiscal year, but using our preliminary fair values of assets and liabilities as of the Acquisition Date. These unaudited pro forma results do not reflect any synergies from operating efficiencies. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the Diamond Acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations. ($ in millions, except per share data) Three Months Ended Revenue $ 490 Net loss ( 49 )

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 4: Revenue from Contracts with Customers Disaggregation of Revenue The following tables show our disaggregated revenues by product and 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 20: Business Segments below for more details related to our segments. ($ in millions) Three Months Ended March 31, Real Estate Sales and Financing Segment 2022 2021 Sales of VOIs, net $ 269 $ 33 Sales, marketing, brand and other fees 119 53 Interest income 55 31 Other financing revenue 9 6 Real estate sales and financing segment revenues $ 452 $ 123 ($ in millions) Three Months Ended March 31, Resort Operations and Club Management Segment 2022 2021 Club management $ 51 $ 27 Resort management 74 18 Rental (1) 124 30 Ancillary services 12 2 Resort operations and club management segment revenues $ 261 $ 77 (1) Excludes intersegment eliminations. See Note 20: 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: March 31, December 31, ($ in millions) 2022 2021 Receivables $ 271 $ 202 The following table presents the composition of our contract liabilities. March 31, December 31, ($ in millions) 2022 2021 Contract liabilities: Advanced deposits $ 126 $ 112 Deferred sales of VOIs of projects under construction 77 34 Club dues and Legacy-HGV Club activation fees 159 91 Bonus Point incentive liability (1) 47 44 (1) Amounts related to the 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 three months ended March 31, 2022 that was included in the contract liabilities balance at December 31, 2021 was approximately $ 44 million. 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 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 7: Timeshare Financing Receivables for information on balances and changes in balances during the period related to our timeshare financing receivables. Contract assets relate to incentive fees that can be earned for meeting certain targets on sales of VOIs at properties under our fee-for-service arrangements; however, our right to consideration is conditional upon completing the requirements of the annual incentive fee period. There were no contract assets as of March 31, 2022 and December 31, 2021, respectively. 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 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. In addition to the contract liabilities included herein, we also have deferred revenue of $ 159 million and $ 112 million as of March 31, 2022 and December 31, 2021 , respectively. This additional deferred revenue balance includes $ 50 million and $ 51 million for bonus points and marketing package deferred revenue, $ 30 million and $ 10 million in deferred property insurance, $ 38 million and $ 14 million in deferred maintenance fees and $ 41 million and $ 37 million in other deferred revenue as of March 31, 2022 and December 31, 2021, respectively. 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) Legacy-HGV Club activation fees paid at closing of a VOI purchase, (iii) customers’ advanced deposits on prepaid vacation packages and (iv) 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 March 31, 2022 and December 31, 2021: March 31, December 31, ($ in millions) 2022 2021 Sales of VOIs, net $ 77 $ 34 Cost of VOI sales (1) 26 12 Sales and marketing expense 11 5 (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 related to the projects under construction as of March 31, 2022 upon their completion in 2022. The following table includes the remaining transaction price related to Advanced deposits, and Legacy-HGV Club activation fees and Bonus Points as of March 31, 2022: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 126 18 months Upon customer stays Legacy-HGV Club activation fees 62 7 years Straight-line basis over average inventory holding period Bonus Points 47 18 - 30 months Upon redemption

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Restricted Cash	Note 5: Restricted Cash Restricted cash was as follows: March 31, December 31, ($ in millions) 2022 2021 Escrow deposits on VOI sales $ 191 $ 152 Reserves related to non-recourse debt (1) 66 67 Other (2) 46 44 $ 303 $ 263 (1) See Note 13: Debt & Non-recourse Debt for further discussion. ( 2) Other restricted cash primarily includes cash collected on behalf of HOAs, deposits related to servicer arrangements and other deposits.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Accounts Receivables	Note 6: 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. March 31, December 31, ($ in millions) 2022 2021 Fee-for-service commissions (1) $ 69 $ 73 Real estate and financing 50 51 Resort and club operations 143 76 Tax receivables 80 95 Insurance claims receivable 95 — Other receivables (2) 10 7 Total $ 447 $ 302 (1) Net of allowance. (2) Primarily includes individually insignificant accounts receivable and related allowances recognized in the ordinary course of business. 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 during the period from December 31, 2021 to March 31, 2022: ($ in millions) Balance as of December 31, 2021 $ 18 Current period provision for expected credit losses 2 Write-offs charged against the allowance ( 8 ) Balance at March 31, 2022 $ 12 In addition to the fee-for-service commission allowance, we have various allowances for our accounts receivable to account for expected losses related to club dues, maintenance fees, trade accounts receivable, sales of VOIs, and marketing packages.

Timeshare Financing Receivables

Timeshare Financing Receivables	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Timeshare Financing Receivables	Note 7: Timeshare Financing Receivables We define our timeshare financing receivables portfolio segments as (i) originated and (ii) acquired. The following table presents the components of each portfolio segment by class of timeshare financing receivables. Originated (2) Acquired (2) March 31, December 31, March 31, December 31, ($ in millions) 2022 2021 2022 2021 Securitized $ 538 $ 587 $ 414 $ 523 Unsecuritized (1) 914 810 550 515 Timeshare financing receivables, gross $ 1,452 $ 1,397 $ 964 $ 1,038 Unamortized non-credit acquisition premium (3) — — 65 74 Less: allowance for financing ( 302 ) ( 280 ) ( 461 ) ( 482 ) Timeshare financing receivables, net $ 1,150 $ 1,117 $ 568 $ 630 (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. (2) Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date. (3) Non-credit premium of $ 97 million was recognized at the Acquisition Date, of which $65 million remains unamortized as of March 31, 2022 . As of March 31, 2022 and December 31, 2021, we had timeshare financing receivables with a carrying value of $ 159 million and $ 131 million, respectively, securing the Timeshare Facility and two additional conduit facilities 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 three months ended March 31, 2022, we recorded an adjustment to our estimate of variable consideration of $ 31 mil lion. We recognize interest income on our timeshare financing receivables as earned. As of March 31, 2022 and December 31, 2021, we had interest receivable outstanding of $ 10 million and $ 9 million, respectively, on our originated timeshare financing receivables, which represent all Legacy-HGV timeshare financing receivables and timeshare financing receivables originated by Legacy-Diamond subsequent to the Acquisition Date. As of March 31, 2022 and December 31, 2021, we had interest receivable outstanding of $ 6 million and $ 7 million on our acquired timeshare financing receivables, which represents all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Interest receivable is included in Other Assets within our 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 March 31, 2022 , our originated timeshare financing receivables had interest rates ranging from 1.5 percent to 25.8 percent, a weighted-average interest rate of 13.6 percent, a weighted-average remaining term of 8 years and maturities through 2037 . Our acquired timeshare financing receivables had interest rates ranging from 2 percent to 25 percent, a weighted-average interest rate of 15.7 percent, a weighted-average remaining term of 7.8 years and maturities through 2032 . Acquired Timeshare Financing Receivables with Credit Deterioration As part of the Diamond Acquisition, we acquired existing portfolios of timeshare financing receivables. Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date and were deemed to be purchase credit deteriorated financial assets. These notes receivable were initially recognized at their purchase price, represented by the acquisition date fair value, and subsequently “grossed- up” by our acquisition date assessment of the allowance for credit losses. The difference over which par value of the acquired purchased credit deteriorated assets exceeds the purchase price plus the initial allowance for credit losses is reflected as a non-credit premium and is amortized as a reduction to interest income under the effective interest method. The fair value of our acquired timeshare financing receivables as of the Acquisition Date was determined using a discounted cash flow method, which calculated a present value of expected future cash flows based on scheduled principal and interest payments over the term of the respective timeshare financing receivables, while considering anticipated defaults and early repayments based on historical experience. Consequently, the fair value of the acquired timeshare financing receivables recorded on our balance sheet as of the Acquisition Date included an estimate of expected credit losses which became the historical cost basis for that portfolio going forward.‌ The allowance for credit losses for our acquired timeshare financing receivables is remeasured at each period end and takes into consideration an estimated measure of anticipated defaults and early repayments. We consider historical Legacy-Diamond timeshare financing receivables performance and the current economic environment in the re-measurement of the allowance for credit losses for our acquired timeshare financing receivables. Subsequent changes to the allowance for credit losses are recorded as additions to or reversals of credit losses in our consolidated statements of operations through provision for credit losses. Our acquired timeshare financing receivables as of March 31, 2022 mature as follows: Acquired Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2022 (remaining) $ 31 $ 31 $ 62 2023 44 46 90 2024 48 51 99 2025 52 56 108 2026 55 61 116 Thereafter 184 305 489 $ 414 $ 550 $ 964 Originated Timeshare Financing Receivables Originated timeshare financing receivables represent all Legacy-HGV timeshare financing receivables and timeshare financing receivables originated by Legacy-Diamond subsequent to the Acquisition Date. Our originated timeshare financing receivables as of March 31, 2022 mature as follows: Originated Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2022 (remaining) $ 59 $ 54 $ 113 2023 81 66 147 2024 82 73 155 2025 79 81 160 2026 74 89 163 Thereafter 163 551 714 $ 538 $ 914 $ 1,452 Allowance for Financing Receivables Losses The changes in our allowances for financing receivables losses were as follows: March 31, 2022 ($ in millions) Originated Acquired Balance as of December 31, 2021 $ 280 $ 482 Provision for financing receivables losses (1) 31 — Write-offs ( 25 ) ( 6 ) Upgrades (2) 16 ( 15 ) Balance as of March 31, 2022 $ 302 $ 461 March 31, 2021 ($ in millions) Originated Acquired Balance as of December 31, 2020 $ 211 $ — Provision for financing receivables losses (1) 16 — Write-offs ( 20 ) — Balance as of March 31, 2021 $ 207 $ — (1) Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables. (2) Represents the initial change in allowance resulting from upgrades of Acquired loans. Upgraded Acquired loans and their related allowance are included in the Originated portfolio segment. Credit Quality of Timeshare Financing Receivables Legacy-HGV Timeshare Financing Receivables 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. Our gross balances by average FICO score of our Legacy-HGV timeshare financing receivables were as follows: Legacy-HGV Timeshare Financing Receivables March 31, December 31, ($ in millions) 2022 2021 FICO score 700+ $ 691 $ 703 600-699 247 248 <600 34 35 No score (1) 165 166 $ 1,137 $ 1,152 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following table details our Legacy-HGV timeshare financing receivables by the origination year and average FICO score as of March 31, 2022: ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ 89 $ 203 $ 70 $ 121 $ 83 $ 125 $ 691 600-699 24 73 27 44 30 49 247 <600 3 10 4 6 4 7 34 No score (1) 13 37 23 34 23 35 165 $ 129 $ 323 $ 124 $ 205 $ 140 $ 216 $ 1,137 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. We apply payments we receive for loans, including those in non-accrual status, to amounts due in the following order: servicing fees; interest; principal; and late charges. Once a loan is 91 days past due, we cease accruing interest and reverse the accrued interest recognized up to that point. We resume interest accrual for loans for which we had previously ceased accruing interest once the loan is less than 91 days past due. We fully reserve for a timeshare financing receivable in the month following the date that the loan is 121 days past due and, subsequently, we write off the uncollectible note against the reserve once the foreclosure process is complete and we receive the deed for the foreclosed unit. As of March 31, 2022 and December 31, 2021 , we had ceased accruing interest on timeshare financing receivables with an aggregate principal balance of $ 70 million and $ 83 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Legacy-HGV Timeshare Financing Receivables March 31, 2022 ($ in millions) Securitized Unsecuritized Total Current $ 516 $ 536 $ 1,052 31 - 90 days past due 6 9 15 91 - 120 days past due 2 3 5 121 days and greater past due 2 63 65 $ 526 $ 611 $ 1,137 Legacy-HGV Timeshare Financing Receivables December 31, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 569 $ 488 $ 1,057 31 - 90 days past due 6 6 12 91 - 120 days past due 2 2 4 121 days and greater past due 2 77 79 $ 579 $ 573 $ 1,152 Legacy-Diamond Timeshare Financing Receivables 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. Our gross balances by average FICO score of our Legacy-Diamond acquired and originated timeshare financing receivables were as follows: Legacy-Diamond ($ in millions) March 31, 2022 December 31, 2021 FICO score 700+ $ 550 $ 601 600-699 336 356 <600 67 70 No score (1) 11 11 $ 964 $ 1,038 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Legacy-Diamond ($ in millions) March 31, 2022 December 31, 2021 FICO score 700+ $ 213 $ 172 600-699 83 60 <600 16 11 No score (1) 3 2 $ 315 $ 245 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following tables detail our Legacy-Diamond acquired and originated timeshare financing receivables by the origination year and average FICO score as of March 31, 2022: Legacy-Diamond Acquired Timeshare Financing Receivables ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ — $ 105 $ 118 $ 138 $ 88 $ 101 $ 550 600-699 — 58 67 85 48 78 336 <600 — 13 17 14 5 18 67 No score (1) — 2 2 2 1 4 11 $ — $ 178 $ 204 $ 239 $ 142 $ 201 $ 964 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Legacy-Diamond Originated Timeshare Financing Receivables ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ 89 $ 124 $ — $ — $ — $ — $ 213 600-699 30 53 — — — — 83 <600 6 10 — — — — 16 No score (1) 1 2 — — — — 3 $ 126 $ 189 $ — $ — $ — $ — $ 315 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The accrued interest on our Legacy-Diamond timeshare financing receivables is accrued based on the contractual provisions of the loan documents, which is suspended at the earlier of (i) the customer’s account becoming over 90 days delinquent, or (ii) the completion of cancellation or foreclosure proceedings. Once suspended, we reverse all prior recognized interest income as well. 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 become owner of the deed for the foreclosed unit. As of March 31, 2022 and December 31, 2021 , we had ceased accruing interest on Legacy-Diamond timeshare financing receivables with an aggregate principal balance of $ 396 million and $ 369 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Legacy-Diamond Timeshare Financing Receivables March 31, 2022 ($ in millions) Securitized Unsecuritized Total Current $ 397 $ 447 $ 844 31 - 90 days past due 14 25 39 91 - 120 days past due 5 9 14 121 days and greater past due 10 372 382 $ 426 $ 853 $ 1,279 Legacy-Diamond Timeshare Financing Receivables December 31, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 496 $ 385 $ 881 31 - 90 days past due 15 18 33 91 - 120 days past due 6 5 11 121 days and greater past due 14 344 358 $ 531 $ 752 $ 1,283

Inventory

Inventory	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	Note 8: Inventory Inventory was comprised of the following: March 31, December 31, ($ in millions) 2022 2021 Completed unsold VOIs $ 1,187 $ 1,219 Construction in process 27 20 Land, infrastructure and other 1 1 $ 1,215 $ 1,240 The table below presents costs of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory. Three months ended March 31, ($ in millions) 2022 2021 Cost of sales true-up (1) $ 7 $ 6 Cost of VOI sales related to fee-for-service upgrades 2 1 (1) For the three months ended March 31, 2022 and 2021, t he cost of sales true-up reduced costs of VOI sales and increased inventory.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 9: Property and Equipment Property and equipment were comprised of the following: March 31, December 31, ($ in millions) 2022 2021 Land $ 193 $ 193 Building and leasehold improvements 405 405 Furniture and equipment 81 82 Construction in progress 240 231 919 911 Accumulated depreciation ( 165 ) ( 155 ) $ 754 $ 756

Consolidated Variable Interest

Consolidated Variable Interest Entities	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Variable Interest Entities	Note 10: Consolidated Variable Interest Entities As of March 31, 2022 and December 31, 2021, we consolidated 11 variable interest entities (“VIEs”). The activities of these entities are limited primarily to purchasing qualifying non-recourse timeshare financing receivables from us and issuing debt securities and/or borrowing under a debt facility to facilitate such purchases. The timeshare financing receivables held by these entities are not available to our creditors and are not our legal assets, nor is the debt that is securitized through these entities a legal liability to us. We have determined that we are the primary beneficiaries of all 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. As part of the Diamond Acquisition, we acquired the variable interests in the entities associated with Diamond’s outstanding timeshare financing receivables securitization transactions and two conduit facilities. They have been aggregated for disclosure purposes as they are similar in nature to our previously established VIEs. As of March 31, 2022 and December 31, 2021, the conduit facilities had an outstanding balance of $ 125 million and $ 133 million, respectively. Our unaudited condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily consisted of the following: March 31, December 31, ($ in millions) 2022 2021 Restricted cash $ 61 $ 62 Timeshare financing receivables, net 893 1,021 Non-recourse debt (1) 1,043 1,195 (1) Net of deferred financing costs. During the three months ended March 31, 2022 and 2021 , 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	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note 11: Investments in Unconsolidated Affiliates As of March 31, 2022 , we have 25 percent and 50 percent ownership interests in BRE Ace LLC and 1776 Holding LLC, respectively, which are 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 $ 433 million and $ 463 million as of March 31, 2022 and December 31, 2021, 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 $ 62 million and $ 59 million as of March 31, 2022 and December 31, 2021, respectively, and (ii) receivables for commission and other fees earned under fee-for-service arrangements. See Note 19: Related Party Transactions for additional information.

Debt & Non-recourse Debt

Debt & Non-recourse Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt & Non-recourse Debt	Note 13: Debt & Non-recourse Debt Debt The following table details our outstanding debt balance and its associated interest rates: March 31, December 31, ($ in millions) 2022 2021 Debt (1) Senior secured credit facility Term loan with a rate of 3.50 %, due 2028 $ 1,294 $ 1,297 Revolver with a rate of 2.47 %, due 2026 300 300 Senior notes with a rate of 5.000 %, due 2029 850 850 Senior notes with a rate of 4.875 %, due 2031 500 500 Other debt 28 27 2,972 2,974 Less: unamortized deferred financing costs and discounts (2)(3) ( 59 ) ( 61 ) $ 2,913 $ 2,913 (1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively. (2) Amount includes unamortized deferred financing costs related to our term loan and senior notes of $ 31 million and $ 22 million, respectively, as of March 31, 2022 and $ 33 million and $ 22 million, respectively, as of December 31, 2021. This amount also includes unamortized original issuance discounts of $ 6 million as of March 31, 2022 and December 31, 2021 . (3) Amount does not include unamortized deferred financing costs of $ 5 million as of March 31, 2022 and December 31, 2021 related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets. Senior secured credit facilities During the three months ended March 31, 2022 , we repaid $ 3 million under the senior secured credit facilities. As of March 31, 2022, we had $ 1 million of letters of credit outstanding under the revolving credit facility and $ 2 million outstanding backed by cash collateral. We were in compliance with all applicable maintenance and financial covenants and ratios as of March 31, 2022. We primarily use interest rate swaps as part of our interest rate risk management strategy for our variable-rate debt. Such interest rate swaps converted the LIBOR based variable rates on our Revolver and Term Loan to average fixed rates of 0.53 percent per annum with maturities in 2023 and 1.58 percent with maturities between 2023 and 2028 , r espectively, for the balance on these borrowings up to the notional values of our interest rate swaps. As of March 31, 2022 , the notional values of the interest rate swaps under our Revolver and Term Loan were $ 165 million and $ 550 million, respectively. Our interest rate swaps have been designated and qualify as cash flow hedges of interest rate risk and recorded at their estimated fair value as an asset in Other assets in our unaudited condensed consolidated balance sheets. As of March 31, 2022 and December 31, 2021, the estimated fair value of our cash flow hedges are $ 32 million and $ 2 million, respectively. 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. The following table reflects the activity in accumulated other comprehensive income related to our derivative instruments during the three months ended March 31, 2022. Net unrealized gain on derivative instruments Balance as of December 31, 2021 $ 2 Other comprehensive income before reclassifications, net 21 Reclassification to net income 1 Balance as of March 31, 2022 $ 24 Non-recourse Debt The following table details our outstanding non-recourse debt balance and associated interest rates: March 31, December 31, ($ in millions) 2022 2021 Non-recourse debt (1) Timeshare Facility with an average rate of 2.20 %, due 2023 (3) $ 161 $ 131 HGV Securitized Debt with a weighted average rate of 2.711 %, due 2028 62 70 HGV Securitized Debt with a weighted average rate of 3.602 %, due 2032 131 143 HGV Securitized Debt with a weighted average rate of 2.431 %, due 2033 136 151 HGV Securitized Debt with a weighted average rate of 3.658 %, due 2039 180 193 Diamond Resorts Premium Yield Facility with an average rate of 4.766 %, due 2031 7 8 Diamond Resorts Conduit Facility with an average rate of 2.250 %, due 2023 125 125 Diamond Resorts Conduit Facility with an average rate of 3.000 %, due 2024 — 8 Diamond Resorts Owner Trust 2017 with a weighted average rate of 3.504 %, due 2029 — 41 Diamond Resorts Owner Trust 2018 with a weighted average rate of 4.061 %, due 2031 81 92 Diamond Resorts Owner Trust 2019 with a weighted average rate of 3.277 %, due 2032 127 148 Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160 %, due 2032 198 224 1,208 1,334 Less: unamortized deferred financing costs (2) ( 5 ) ( 6 ) $ 1,203 $ 1,328 (1) As of March 31, 2022 and December 31, 2021, weighted-average interest rates were 2.873 % and 2.876 %, respectively. (2) Amount relates to Securitized Debt only and does not include unamortized deferred financing costs of $ 2 million and $ 2 million as of March 31, 2022 and December 31, 2021, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets. (3) In connection with the amendment to the Timeshare Facility executed in August 2020, the revolving commitment period of the Timeshare Facility terminates in August 2022, however the repayment maturity date extends 12 months beyond the commitment termination date to August 2023. The Timeshare Facility and Premium Yield Facility are non-recourse obligations payable solely from the pool of timeshare financing receivables pledged as collateral and related assets. The Timeshare Facility has a borrowing capacity of $ 450 million. Furthermore, we have access to two additional conduit facilities which are non-recourse obligations with customary provisions similar to the Timeshare Facility, each of which bear a variable interest rate plus a margin and are subject to non-use fees. The conduit facilities are due in 2023 and 2024 and have a borrowing capacity of $ 125 million and $ 150 million, respectively. These conduit facilities were issued through variable interest entities. See Note 10: Consolidated Variable Interest Entities for more information. We are required to deposit payments received from customers on the timeshare financing receivables securing the Timeshare Facility, Premium Yield 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 $ 66 million and $ 67 million as of March 31, 2022 and December 31, 2021, 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 March 31, 2022 were as follows: ($ in millions) Debt Non-recourse Debt Total Year 2022 (remaining) $ 12 $ 355 $ 367 2023 15 562 577 2024 14 88 102 2025 13 138 151 2026 313 38 351 Thereafter 2,605 27 2,632 $ 2,972 $ 1,208 $ 4,180

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14: Fair Value Measurements The carrying amounts and estimated fair values of our financial assets and liabilities were as follows: March 31, 2022 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 1,718 $ — $ 1,836 Liabilities: Debt, net (2) 2,913 2,564 338 Non-recourse debt, net (2) 1,203 905 291 December 31, 2021 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 1,747 $ — $ 1,905 Liabilities: Debt, net (2) 2,913 2,663 340 Non-recourse debt, net (2) 1,328 1,080 270 (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. Our estimated fair value of derivative financial instruments is considered a level 2 measurement and is included in Note 13: Debt and non-recourse debt above. Our valuation methodology is categorized based on each asset or liability's respective measurement inputs and their correlation to information available in active markets as follows: • Level 1 - Measurements based on unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. • Level 2 - Measurements based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or market data other than quoted prices that are observable. • Level 3 - Measurements based on unobservable data that are supported by little or no market activity and are significant to the valuation methodology. The estimated fair value of our level 2 derivative financial instruments was determined utilizing projected future cash flows discounted based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The estimated fair value of our level 3 debt was determined utilizing indicative quotes obtained for similar issuances and projected future cash flows discounted at risk-adjusted rates. The estimated fair value of our level 3 non-recourse debt was determined utilizing 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, 2021. We utilized the market approach for the land and cost approach for infrastructure to determine their respective fair values. The fair value calculations involve judgement and are sensitive to key assumptions utilized, including comparative sales for land (level 2) and replacement costs for infrastructure (level 3). There has been no change to the estimated fair value of these assets for the three months ended March 31, 2022 .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 12: Intangible Assets Intangible assets and related accumulated amortization were as follows: March 31, 2022 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ ( 8 ) $ 10 Management contracts 1,340 ( 137 ) 1,203 Club member relationships 139 ( 18 ) 121 Capitalized software 144 ( 78 ) 66 $ 1,641 $ ( 241 ) $ 1,400 December 31, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ ( 5 ) $ 13 Management contracts 1,340 ( 106 ) 1,234 Club member relationships 139 ( 12 ) 127 Capitalized software 138 ( 71 ) 67 $ 1,635 $ ( 194 ) $ 1,441 We acquired definite-lived intangible assets as part of the Diamond Acquisition, which have been valued in the amount of $ 1,431 million as of the Acquisition Date. Refer to Note 3: Diamond Acquisition for further details. Amortization expense on intangible assets was $ 48 million and $ 4 million for the three months ended March 31, 2022 and March 31, 2021, respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 15: Leases We lease sales centers, office space and equipment under operating leases, some of which we acquired as part of the Diamond Acquisition. Our leases expire at various dates from 2022 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. As part of our integration of business operations from the Diamond Acquisition, we ceased utilizing one leased office space in the three months ended March 31, 2022, which the Company considered a triggering event for impairment analysis. We recognized impairment on the related right-of-use asset of $ 3 million in the three months ended March 31, 2022. 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 for the three months ended March 31, 2022 and 2021 was $ 7 million and $ 4 million, respectively. These amounts include $ 1 million of short-term and variable lease costs for the three months ended March 31, 2022 and 2021. Supplemental cash flow information related to operating leases was as follows: Three Months Ended March 31, ($ in millions) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 7 $ 5 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 2 — Supplemental balance sheet information related to operating leases was as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term of operating leases (in years) 4 4 Weighted-average discount rate of operating leases 4.31 % 4.35 % The future minimum lease payments under noncancelable operating leases, due in each of the next five years and thereafter as of March 31, 2022, are as follows: ($ in millions) Operating Leases Year 2022 (remaining) 20 2023 26 2024 18 2025 15 2026 9 Thereafter 6 Total future minimum lease payments $ 94 Less: imputed interest ( 9 ) Present value of lease liabilities $ 85

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 16: Income Taxes At the end of each quarter, we estimate the effective tax rate expected to be applied for the full year. The effective tax rate for the three months ended March 31, 2022 and 2021 was approximately 28 percent and 46 percent, respectively. The effective tax rate is lower primarily due to the impact of non-recurring discrete items and share-based compensation awards relative to pre-tax income (loss) through the first quarter of 2022 as compared to the first quarter of 2021.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Note 17: 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 $ 11 million and $ 4 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, unrecognized compensation costs for unvested awards was approximately $ 72 million, which is expected to be recognized over a weighted average period of 1.9 years. As of March 31, 2022, there were 2,679,077 shares of common stock available for future issuance under this plan. Service RSUs During the three months ended March 31, 2022, we issued 750,653 Service RSUs with a grant date fair value of $ 44.09 , which generally vest in equal annual installments over three years from the date of grant. Options During the three months ended March 31, 2022 , we issued 389,536 Options with an exercise price of $ 44.09 , which generally vest over three years from the date of the grant. The weighted-average grant date fair value of these options was $ 20.08 , which was determined using the Black-Scholes-Merton option-pricing model with the assumptions included in the table below. Expected volatility is calculated using our historical and implied volatility of our share price. Dividend yield is calculated based on our expected future payout at the time of issuance. Risk-free rate is based on the yields of U.S. Department of Treasury instruments with similar maturities. Expected term is estimated using the vesting period and contractual term of the Options. Expected volatility 45.8 % Dividend yield — % Risk-free rate 1.7 % Expected term (in years) 6.0 As of March 31, 2022, we had 1,547,979 Options outstanding that were exercisable. Performance RSUs During the three months ended March 31, 2022, we issued 93,064 Performance RSUs with a grant date fair value of $ 44.09 . The Performance RSUs are settled at the end of a two-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 our Performance RSUs are probable of achievement and, for the three months ended March 31, 2022, 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 months ended March 31, 2022 and 2021 , we recognized less than $ 1 million of compensation expense related to this plan.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 18: Earnings (Loss) Per Share The following tables below present the calculation of our basic and diluted earnings (loss) per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, ($ and shares outstanding in millions, except per share amounts) 2022 2021 Basic EPS: Numerator: Net income (loss) (1) $ 51 $ ( 7 ) Denominator: Weighted average shares outstanding 120 85 Basic EPS $ 0.42 $ ( 0.08 ) Diluted EPS: Numerator: Net income (loss) (1) $ 51 $ ( 7 ) Denominator: Weighted average shares outstanding 122 85 Diluted EPS $ 0.42 $ ( 0.08 ) (1) Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively. Three months ended March 31, 2022 2021 Weighted average shares outstanding: Basic EPS 119,980,766 85,307,705 Diluted EPS 121,844,837 85,307,705 For the three months ended March 31, 2022 and 2021, we excluded 338,109 and 638,050 , respectively, of share-based compensation awards because their effect would have been anti-dilutive under the treasury stock method. The dilutive effect of outstanding share-based compensation awards is reflected in diluted earnings (loss) per common share by application of the treasury stock method using average market prices during the period. Potentially dilutive shares of 943,373 were excluded from the calculation of diluted weighted average shares outstanding and diluted earnings per share three months ended March 31, 2021 because their effect would have been anti-dilutive under the treasury stock method.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 19: 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 11: 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 Sales, marketing, brand, and other fees on our unaudited condensed consolidated statements of operations as of the date they became related parties. We also had $ 20 million of outstanding receivables related to the fee-for-service agreements included in Accounts receivable, net on our unaudited condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. Three Months Ended March 31, ($ in millions) 2022 2021 Equity in earnings from unconsolidated affiliates $ 3 $ 2 Commissions and other fees 33 13 Note 20: 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 Diamond Clubs 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 and Diamond Clubs programs. 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, amortization of premiums resulting from purchase accounting, 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. Below is the presentation of our reportable segment results which include the acquired Diamond operations within both segments since the Acquisition Date. The following table presents revenues for our reportable segments reconciled to consolidated amounts: Three Months Ended March 31, ($ in millions) 2022 2021 Revenues: Real estate sales and financing $ 452 $ 123 Resort operations and club management (1) 268 80 Total segment revenues 720 203 Cost reimbursements 66 35 Intersegment eliminations (1)(2) ( 7 ) ( 3 ) Total revenues $ 779 $ 235 (1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $ 7 million and $ 3 million for the three months ended March 31, 2022 and 2021 , respectively. (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 months ended March 31, 2022 and 2021 . The following table presents Adjusted EBITDA for our reportable segments reconciled to net income (loss): Three Months Ended March 31, ($ in millions) 2022 2021 Adjusted EBITDA: Real estate sales and financing (1) $ 153 $ 27 Resort operations and club management (1) 101 42 Segment Adjusted EBITDA 254 69 Acquisition and integration-related expense ( 13 ) ( 15 ) General and administrative ( 42 ) ( 21 ) Depreciation and amortization ( 60 ) ( 11 ) License fee expense ( 25 ) ( 14 ) Other gain (loss), net 1 ( 1 ) Interest expense ( 33 ) ( 15 ) Income tax (expense) benefit ( 20 ) 6 Equity in earnings from unconsolidated affiliates 3 2 Impairment expense ( 3 ) ( 1 ) Other adjustment items (2) ( 11 ) ( 6 ) Net income (loss) $ 51 $ ( 7 ) (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) For the three months ended March 31, 2022 and 2021, this amount includes costs associated with restructuring, one-time charges and other non-cash items included within our reportable segments. Note 21: Commitments and Contingencies Commitments 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 March 31, 2022, we were committed to purchase approximately $ 329 million of inventory and land over a period of 9 years and $ 15 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 are subject to change pursuant to the terms of the respective arrangements, which could also allow for cancellation in certain circumstances. During the three months ended March 31, 2022, we did not make any purchases related to our inventory commitments. During the three months ended March 31, 2021 , we completed $ 1 million of purchases required under our inventory-related purchase commitments. As of March 31, 2022, our remaining obligations pursuant to these arrangements were expected to be incurred as follows: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Total Inventory purchase obligations $ 59 $ 215 $ 40 $ 3 $ 3 $ 9 $ 329 Other commitments (1) 10 5 — — — — 15 Total $ 69 $ 220 $ 40 $ 3 $ 3 $ 9 $ 344 (1) Primarily relates to commitments related to information technology and sponsorships. Rebranding Costs As part of the Diamond Acquisition and per our licensing agreement with Hilton, we are committed to rebranding Diamond properties to brands that meet Hilton standards. As of March 31, 2022, we have incurred rebranding costs in respect to information technology and sales centers, and expect rebranding to occur over a period of several years. Litigation Contingencies We are involved in litigation arising from the normal course of business, some of which includes claims for substantial sums. We evaluate these legal proceedings and claims at each balance sheet date to determine the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, our ability to reasonably estimate the amount of loss. We record a contingent litigation liability when it is determined that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of March 31, 2022 , we accrued liabilities of approximately $ 117 million for all legal matters that were contingencies. Substantially all of these accrued liabilities are related to matters that existed as of the Acquisition Date, of which approximately $ 24 million are subject to change during the measurement period of the Diamond Acquisition. See Note 3: Diamond Acquisition . Approximately $ 92 million of these accrued liabilities relate to a judgment entered against Diamond in March 2022 in connection with a case filed in 2015 that was not deemed probable and estimable as of the Acquisition Date. This matter is subject to insurance coverage and as a result as of March 31, 2022, we recorded an insurance claim receivable of $ 92 million within Accounts receivable, net in our unaudited condensed consolidated balance sheet. While we currently believe that the ultimate outcome of these proceedings, individually and in the aggregate, will not have a material effect on the Company’s financial condition, cash flows, or materially adversely affect overall trends in our results of operations, legal proceedings are inherently uncertain and unfavorable rulings could, individually or in aggregate, have a material adverse effect on the Company’s business, financial condition or results of operations. Note 22: Subsequent Events On April 21, 2022, we completed a $ 246 million securitization of our gross timeshare financing receivables with an overall weighted average interest rate of 4.30 percent and an overall advance rate of 95 percent. The proceeds were primarily used to pay down one of our conduit facilities in full, which was a total of $ 115 million, and for general corporate purposes. On May 3, 2022, we amended the terms of the Timeshare Facility to increase the borrowing capacity from $ 450 million to $ 750 million, allowing us to borrow up to the maximum amount until May 2024 and requiring all amounts borrowed to be repaid in 2025 . The Timeshare Facility is secured by certain timeshare financing receivables in our loan portfolio. On May 4, 2022, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to an aggregate of $ 500 million of its outstanding shares of common stock. Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q and with our Annual Report on Form 10-K for the year ended December 31, 2021. Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management’s expectations as to the future of HGV, and are based on management’s beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts and may be identified by terminology such as the words “outlook,” “believe,” “expect,” “potential,” “goal,” “continues,” “may,” “will,” “should,” “could,”, “would”, “seeks,” “approximately,” “projects,” predicts,” “intends,” “plans,” “estimates,” “anticipates” “future,” “guidance,” “target,” or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this Quarterly Report on Form 10-Q include statements related to HGV’s revenues, earnings, taxes, cash flow and related financial and operating measures, and expectations with respect to future operating, financial and business performance, and other anticipated future events and expectations that are not historical facts. HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV’s control, which may cause the actual results, performance or achievements to be materially different from the future results. Factors that could cause HGV’s actual results to differ materially from those contemplated by its forward-looking statements include: risks that HGV may not realize the expected cost savings, synergies, growth and other benefits from the Diamond Acquisition or that the costs related to the Diamond Acquisition are greater than anticipated; risks that there may be significant costs and expenses associated with liabilities related to the Diamond business that were either unknown or are greater than those anticipated at the time of the Diamond Acquisition; risks that HGV may not be successful in integrating the Diamond business into all aspects of our business and operations, including the conversion and rebranding of the Diamond properties, rooms and sales facilities into HGV-branded assets, or that the integration will take longer than anticipated; the potential magnification of our operational risks as a result of the Diamond Acquisition and integration of the Diamond business; risks related to disruption of management’s attention from HGV’s ongoing business operations due to its efforts to integrate Diamond Resorts into HGV; any adverse effect of the Diamond Acquisition on HGV’s reputation, relationships, operating results and business generally; the continuing impact of the COVID-19 pandemic on HGV’s business, operating results, and financial condition; the extent and duration of the impact of the COVID-19 pandemic on global economic conditions; HGV’s ability to meet its liquidity needs; risks related to HGV’s indebtedness, especially in light of the significant amount of indebtedness we incurred to complete the Diamond Acquisition; inherent business risks, market trends and competition within the timeshare and hospitality industries; HGV’s ability to successfully source inventory and market, sell and finance VOIs; default rates on our financing receivables (including those financing receivables related to the Diamond business); the reputation of and our ability to access Hilton brands and programs, including the risk of a breach or termination of our license agreement with Hilton; the integration of Diamond’s operations as part of our overall brand that is governed by the terms of the license agreement; compliance with and changes to United States and global laws and regulations, including those related to anti-corruption and privacy; risks related to HGV’s acquisitions, joint ventures, and other partnerships; HGV’s dependence on third-party development activities to secure just-in-time inventory; the performance of HGV’s information technology systems and our ability to maintain data security; regulatory proceedings or litigation; adequacy of our workforce to meet HGV’s business and operation needs; HGV’s ability to attract and retain key executives and employees with skills and capacity to meet our needs; and natural disasters or adverse geo-political conditions. Any one or more of the foregoing or other factors could adversely impact HGV’s operations, revenue, operating profits and margins, key business operational metrics discussed under “— Operational Metrics” below, financial condition or credit rating. For additional information regarding factors that could cause HGV’s actual results to differ materially from those expressed or implied in the forward-looking statements in this Quarterly Report on Form 10-Q, please see the risk factors discussed in “Part I—Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and those described from time to time in other periodic reports that we file with the SEC. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business. Except for HGV’s ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, changes in management’s expectations, or otherwise. Terms Used in this Quarterly Report on Form 10-Q Except where the context requires otherwise, references in this Quarterly Report on Form 10-Q to “Hilton Grand Vacations,” “HGV,” “the Company,” “we,” “us” and “our” refer to Hilton Grand Vacations Inc., together with its consolidated subsidiaries. “Legacy-HGV” refers to our business and operations that existed both prior to and following the Diamond Acquisition (as defined below), excluding Legacy-Diamond. “Legacy-Diamond” refers to the business and operations that we acquired in the Diamond Acquisition. Except where the context requires otherwise, references to our “properties” or “resorts” refer to the timeshare properties that we manage or own. Of these resorts and units, a portion is directly owned by us or joint ventures in which we have an interest; the remaining resorts and units are owned by our third-party owners. “Developed” refers to VOI inventory that is sourced from projects developed by HGV. “Fee for service” refers to VOI inventory that we sell and manage on behalf of third-party developers. “Just-in-time” refers to VOI inventory that is primarily sourced in transactions that are designed to closely correlate the timing of the acquisition by us with our sale of that inventory to purchasers. "Points-based" refers to VOI sales that are backed by physical real estate that is contributed to a trust. “VOI” refers to vacation ownership intervals and interests. Non-GAAP Financial Measures This Quarterly Report on Form 10-Q includes discussion of terms that are not recognized terms under U.S. Generally Accepted Accounting Principles (“U.S. GAAP”), and financial measures that are not calculated in accordance with U.S. GAAP, including earnings before interest expense (excluding interest expense relating to our non-recourse debt), taxes and depreciation and amortization (“EBITDA”) and Adjusted EBITDA. Operational Metrics This Quarterly Report on Form 10-Q includes discussion of key business operational metrics including contract sales, sales revenue, real estate profit, tour flow, and volume per guest (“VPG”). See “Key Business and Financial Metrics and Terms Used by Management” and “-Results of Operations” for a discussion of the meanings of these terms, the Company’s reasons for providing non-GAAP financial measures, and reconciliations of non-GAAP financial measures to measures calculated in accordance with U.S. GAAP. Overview Our Business We are a global timeshare company engaged in developing, marketing, selling and managing timeshare resorts primarily under the Hilton Grand Vacations brand. Our Company also owns and operates Diamond Resorts International ("Diamond") and are in the process of rebranding Diamond properties and sales centers to brands that meet Hilton standards. Our operations primarily consist of: selling vacation ownership intervals and vacation ownership interests (collectively, “VOIs”, "VOI") for us and third parties; financing and servicing loans provided to consumers for their timeshare purchases; operating resorts and multi-resort trusts; and managing our points-based Hilton Grand Vacations Club and Hilton Club exchange program (collectively the “Legacy-HGV Club”) and Diamond points-based clubs. As of March 31, 2022, we have 154 properties located in the United States (“U.S.”), Europe, Mexico, the Caribbean, Canada, and Japan. A significant number of our properties and VOIs are concentrated in Florida, Nevada, Hawaii, Europe, California, Virginia and Arizona. and feature spacious, condominium-style accommodations with superior amenities and quality service. As of March 31, 2022, we have approximately 335,000 Hilton Grand Vacations Club and Hilton Club members. Legacy-HGV Club members have the flexibility to exchange their VOIs for stays at any Hilton Grand Vacations resort or any property in the Hilton system of 18 industry-leading brands across approximately 6,800 properties, as well as numerous experiential vacation options, such as cruises and guided tours. We also have 168,000 Diamond Club members who are able to utilize their points across the Diamond resorts, affiliated properties and alternative experiential options. Diamond Acquisition On August 2, 2021, we completed the acquisition of Dakota Holdings, Inc., the parent of Diamond (the “Diamond Acquisition”). We completed the acquisition by exchanging 100 percent of the outstanding equity interests of Diamond into shares of HGV common stock. Pre-existing HGV shareholders own approximately 72 percent of the combined company after giving effect of the Diamond Acquisition, with certain funds controlled by Apollo Global Management Inc. (the "Apollo Funds" or, "Apollo") and other minority shareholders, who previously owned 100 percent of Diamond, holding the remaining approximately 28 percent at the time the Diamond Acquisition was completed. Diamond also operates in the hospitality and VOI industry, with a worldwide resort network of global vacation destinations. Diamond’s portfolio consists of resort properties that we manage, are included in one of Diamond's single- and multi-use trusts (collectively, the "Diamond Collections" or "Collections"), or are Diamond branded resorts in which we own inventory. In addition there are affiliated resorts and hotels, which we do not manage, and which do not carry the Diamond brand but are a part of Diamond's network and, through THE Club® and other Club offerings (the “Diamond Clubs”), are available for its members to use as vacation destinations. Diamond’s operations primarily consist of: VOI sales and financing which includes marketing and sales of VOIs and consumer financing for purchasers of the Company's VOIs; operations related to the management of the homeowners associations (the “HOAs”) for resort properties and the Diamond Collections, operating and managing points-based vacation clubs, and operation of certain resort amenities and management services. The financial results within this report include Diamond’s results of operations beginning on August 2, 2021. We refer to Diamond's business and operations that we acquired as "Legacy-Diamond", and our business and operations that existed both prior to and following the Diamond Acquisition as "Legacy-HGV." See Note 3: Diamond Acquisition for more information. Acquisition and integration-related expenses represent direct costs associated with the Diamond Acquisition including integration costs, legal fees, financial and other professional services. These expenses also include severance, retention and other employee-related benefits. Our Segments We operate our business across two segments: (1) real estate sales and financing; and (2) resort operations and club management. Real Estate Sales and Financing Our primary Legacy-HGV product is the marketing and selling of fee-simple VOIs deeded in perpetuity and right to use real estate interests, developed either by us or by third parties. This ownership interest is an interest in real estate generally equivalent to one week on an annual basis, at the timeshare resort where the VOI was purchased. Traditionally, timeshare operators have funded 100 percent of the investment necessary to acquire land and construct timeshare properties. In addition to developing our own properties, we source VOIs through fee-for-service and just-in-time agreements with third-party developers and have focused our inventory strategy on developing an optimal inventory mix focused on developed properties as well as fee-for-service and just-in-time agreements. The fee-for-service agreements enable us to generate fees from the sales and marketing of the VOIs and Legacy-HGV Club memberships and from the management of the timeshare properties without requiring us to fund acquisition and construction costs. The just-in-time agreements enable us to source VOI inventory in a manner that allows us to correlate the timing of acquisition of the inventory with the sale to purchasers. Sales of owned, including just-in-time inventory, generally result in greater Adjusted EBITDA contributions, while fee-for-service sales require less initial investment and allow us to accelerate our sales growth. Both sales of owned inventory and fee-for-service sales generate long-term, predictable fee streams, by adding to the Club membership base and properties under management, that generate strong returns on invested capital. We also source VOIs through our Collections product which are represented by an annual or biennial allotment of points that can be utilized for vacations at any of the resorts in our network for varying lengths of stay. Purchasers of points generally do not acquire a direct ownership interest in the resort properties in our network. For each Collection, one or more trustees hold legal title to the deeded fee simple real estate interests or the functional equivalent, or, in some cases, leasehold real estate interests for the benefit of the respective Collection’s association members in accordance with the applicable agreements. For the three months ended March 31, 2022, sales from fee-for-service, just-in-time, developed inventory and points-based sources were 25 percent, 14 percent, 19 percent and 42 percent, respectively, of contract sales. See “Key Business and Financial Metrics and Terms Used by Management — Real Estate Sales Operating Metrics” for additional discussion of contract sales. The estimated contract sales value related to our inventory that is currently available for sale at open or soon-to-be open projects and inventory at new or existing projects that will become available for sale in the future upon registration, delivery or construction is approximately $13 billion at current pricing. Capital efficient arrangements, comprised of our fee-for-service and just-in-time inventory, represented approximately 40 percent of that supply. We believe that the visibility into our long-term supply allows us to efficiently manage inventory to meet predicted sales, reduce capital investments, minimize our exposure to the cyclicality of the real estate market and mitigate the risks of entering into new markets. We sell our vacation ownership products primarily through our distribution network of both-in-market and off-site sales centers. Our products are currently marketed for sale throughout the United States, Mexico, Canada, Europe, and Japan. We operate sales distribution centers in major markets and popular leisure destinations with year-round demand and a history of being a friendly environment for vacation ownership. We have approximately 60 sales distribution centers in various domestic and international locations. A phased rebranding of sales centers that were acquired as part of the Diamond Acquisition began in late 2021. Our marketing and sales activities are based on targeted direct marketing and a highly personalized sales approach. We use targeted direct marketing to reach potential members who are identified as having the financial ability to pay for our products and have an affinity with Hilton (Legacy-HGV only) and are frequent leisure travelers. Tour flow quality impacts key metrics such as close rate and VPG, defined in “Key Business and Financial Metrics and Terms Used by Management—Real Estate Sales Metrics.” Additionally, the quality of tour flow impacts sales revenue and the collectability of our timeshare financing receivables. For the three months ended March 31, 2022, 73 percent of our contract sales were to our existing owners. We provide financing for members purchasing our developed and acquired inventory and generate interest income. Our timeshare financing receivables are collateralized by the underlying VOIs and are generally structured as 10-year, fully-amortizing loans that bear a fixed interest rate typically ranging from 2.5 percent to 25 percent per annum. Financing propensity was 65 percent for the three months ended March 31, 2022 and 2021. We calculate financing propensity as contract sales volume of financed contracts originated in the period divided by contract sales volume of all contracts originated in the period. The interest rate on our loans is determined by, among other factors, the amount of the down payment, the borrower’s credit profile and the loan term. The weighted-average FICO score for loans to U.S. and Canadian borrowers at the time of origination were as follows: Three Months Ended March 31, 2022 2021 Weighted-average FICO score 740 735 Prepayment is permitted without penalty. When a member defaults, we ultimately return their VOI to inventory for resale and that member no longer participates in our Clubs. Some of our timeshare financing receivables have been pledged as collateral in our securitization transactions, which have in the past and may in the future provide funding for our business activities. In these securitization transactions, special purpose entities are established to issue various classes of debt securities which are generally collateralized by a single pool of assets, consisting of timeshare financing receivables that we service and related cash deposits. For additional information see Note 7: Timeshare Financing Receivables in our unaudited condensed consolidated financial statements. In addition, we earn fees from servicing the loans provided by third-party developers of our fee-for-service projects to purchasers of their VOIs and from our securitized timeshare financing receivables. Resort Operations and Club Management We enter into management agreements with the HOAs of the timeshare resorts developed by us or a third party. Each of the HOAs is governed by a board of directors comprised of owner and developer representatives that are charged with ensuring the resorts are well-maintained and financially stable. Our management services include day-to-day operations of the resorts, maintenance of the resorts, preparation of reports, budgets and projections and employee training and oversight. Our HOA management agreements provide for a cost-plus management fee, which means we generally earn a fee equal to 10 percent to 15 percent of the costs to operate the applicable resort. The fees we earn are highly predictable due to the relatively fixed nature of resort operating expenses and our management fees are unaffected by changes in rental rate or occupancy. We are reimbursed for the costs incurred to perform our services, principally related to personnel providing on-site services. The initial term of our management agreements typically ranges from three to five years and the agreements are subject to periodic renewal for one to three-year periods. Many of these agreements renew automatically unless either party provides advance notice of termination before the expiration of the term. We also manage and operate the Clubs, including the points-based Hilton Grand Vacations Club and Hilton Club exchange programs, which provide exclusive exchange, leisure travel and reservation services to our Legacy-HGV Club members, as well as the Diamond Clubs. When owners purchase a VOI, they are generally enrolled in a Club which allows the member to exchange their points for a number of vacation options. In addition to an annual membership fee, Club members pay incremental fees depending on exchanges they choose within the Club system. We rent unsold VOI inventory, third-party inventory and inventory made available due to ownership exchanges through our club programs. We earn a fee from rentals of third-party inventory. Additionally, we provide ancillary offerings including food and beverage, retail and spa offerings at these timeshare properties. Key Business and Financial Metrics and Terms Used by Management Real Estate Sales Operating Metrics We measure our performance using the following key operating metrics: • Contract sales represents the total amount of VOI products (fee-for-service, just-in-time, developed, and points-based) under purchase agreements signed during the period where we have received a dow

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segments	Note 20: 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 Diamond Clubs 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 and Diamond Clubs programs. 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, amortization of premiums resulting from purchase accounting, 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. Below is the presentation of our reportable segment results which include the acquired Diamond operations within both segments since the Acquisition Date. The following table presents revenues for our reportable segments reconciled to consolidated amounts: Three Months Ended March 31, ($ in millions) 2022 2021 Revenues: Real estate sales and financing $ 452 $ 123 Resort operations and club management (1) 268 80 Total segment revenues 720 203 Cost reimbursements 66 35 Intersegment eliminations (1)(2) ( 7 ) ( 3 ) Total revenues $ 779 $ 235 (1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $ 7 million and $ 3 million for the three months ended March 31, 2022 and 2021 , respectively. (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 months ended March 31, 2022 and 2021 . The following table presents Adjusted EBITDA for our reportable segments reconciled to net income (loss): Three Months Ended March 31, ($ in millions) 2022 2021 Adjusted EBITDA: Real estate sales and financing (1) $ 153 $ 27 Resort operations and club management (1) 101 42 Segment Adjusted EBITDA 254 69 Acquisition and integration-related expense ( 13 ) ( 15 ) General and administrative ( 42 ) ( 21 ) Depreciation and amortization ( 60 ) ( 11 ) License fee expense ( 25 ) ( 14 ) Other gain (loss), net 1 ( 1 ) Interest expense ( 33 ) ( 15 ) Income tax (expense) benefit ( 20 ) 6 Equity in earnings from unconsolidated affiliates 3 2 Impairment expense ( 3 ) ( 1 ) Other adjustment items (2) ( 11 ) ( 6 ) Net income (loss) $ 51 $ ( 7 ) (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) For the three months ended March 31, 2022 and 2021, 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	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 21: Commitments and Contingencies Commitments 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 March 31, 2022, we were committed to purchase approximately $ 329 million of inventory and land over a period of 9 years and $ 15 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 are subject to change pursuant to the terms of the respective arrangements, which could also allow for cancellation in certain circumstances. During the three months ended March 31, 2022, we did not make any purchases related to our inventory commitments. During the three months ended March 31, 2021 , we completed $ 1 million of purchases required under our inventory-related purchase commitments. As of March 31, 2022, our remaining obligations pursuant to these arrangements were expected to be incurred as follows: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Total Inventory purchase obligations $ 59 $ 215 $ 40 $ 3 $ 3 $ 9 $ 329 Other commitments (1) 10 5 — — — — 15 Total $ 69 $ 220 $ 40 $ 3 $ 3 $ 9 $ 344 (1) Primarily relates to commitments related to information technology and sponsorships. Rebranding Costs As part of the Diamond Acquisition and per our licensing agreement with Hilton, we are committed to rebranding Diamond properties to brands that meet Hilton standards. As of March 31, 2022, we have incurred rebranding costs in respect to information technology and sales centers, and expect rebranding to occur over a period of several years. Litigation Contingencies We are involved in litigation arising from the normal course of business, some of which includes claims for substantial sums. We evaluate these legal proceedings and claims at each balance sheet date to determine the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, our ability to reasonably estimate the amount of loss. We record a contingent litigation liability when it is determined that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of March 31, 2022 , we accrued liabilities of approximately $ 117 million for all legal matters that were contingencies. Substantially all of these accrued liabilities are related to matters that existed as of the Acquisition Date, of which approximately $ 24 million are subject to change during the measurement period of the Diamond Acquisition. See Note 3: Diamond Acquisition . Approximately $ 92 million of these accrued liabilities relate to a judgment entered against Diamond in March 2022 in connection with a case filed in 2015 that was not deemed probable and estimable as of the Acquisition Date. This matter is subject to insurance coverage and as a result as of March 31, 2022, we recorded an insurance claim receivable of $ 92 million within Accounts receivable, net in our unaudited condensed consolidated balance sheet. While we currently believe that the ultimate outcome of these proceedings, individually and in the aggregate, will not have a material effect on the Company’s financial condition, cash flows, or materially adversely affect overall trends in our results of operations, legal proceedings are inherently uncertain and unfavorable rulings could, individually or in aggregate, have a material adverse effect on the Company’s business, financial condition or results of operations.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 22: Subsequent Events On April 21, 2022, we completed a $ 246 million securitization of our gross timeshare financing receivables with an overall weighted average interest rate of 4.30 percent and an overall advance rate of 95 percent. The proceeds were primarily used to pay down one of our conduit facilities in full, which was a total of $ 115 million, and for general corporate purposes. On May 3, 2022, we amended the terms of the Timeshare Facility to increase the borrowing capacity from $ 450 million to $ 750 million, allowing us to borrow up to the maximum amount until May 2024 and requiring all amounts borrowed to be repaid in 2025 . The Timeshare Facility is secured by certain timeshare financing receivables in our loan portfolio. On May 4, 2022, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to an aggregate of $ 500 million of its outstanding shares of common stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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. Our 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, 2021, included in our Annual Report on Form 10-K filed with the SEC on March 1, 2022. 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. The determination of a controlling financial interest is based upon the terms of the governing agreements of the respective entities, including the evaluation of rights held by other interests. If the entity is considered to be a variable interest entity (“VIE”), we determine whether we are the primary beneficiary, and then consolidate those VIEs for which we have determined we are the primary beneficiary. If the entity in which we hold an interest does not meet the definition of a VIE, we evaluate whether we have a controlling financial interest through our voting interests in the entity. We consolidate entities when we own more than 50 percent of the voting shares of a company or otherwise have a controlling financial interest. The consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with U.S. GAAP.
Reclassifications	Reclassifications Certain prior period amounts in the unaudited condensed consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported total assets and total liabilities, net income or stockholders’ equity.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted In March 2020, the FASB issued Accounting Standards Update 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. As of March 31, 2022, certain debt and non-recourse debt instruments, including swaps, continue to reference LIBOR. We have included transition language within our amended instruments that would allow for the replacement of LIBOR once an appropriate alternative has been determined. To the extent that any reference rate changes from LIBOR, we may choose to utilize the relief set forth within ASU 2020-04. We continue to evaluate the effect of this ASU, but we do not expect it to have a material impact on our consolidated financial statements. In March 2022, the FASB issued Accounting Standards Update 2022-02 (“ASU 2022-02”), Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . ASU 2022-02 provides, under Issue 2 - Vintage Disclosures, that an entity discloses current-period gross write-offs by year of origination for financing receivables and net investments in leases. For financing receivables, the disclosure is to present the amortized cost basis by credit quality indicator and class of financing receivable for the year of origination. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and is to be applied prospectively. We are currently evaluating the effects of this ASU to our disclosures.

Diamond Acquisition (Tables)

Diamond Acquisition (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Schedule of Fair Value of Consideration Transferred	The following table presents the fair value of each class of consideration transferred in relation to the Diamond Acquisition at the Acquisition Date. ($ in millions, except stock price amounts) HGV common stock shares issued for outstanding Diamond shares 33.93 HGV common stock price as of Acquisition Date (1) 40.71 Stock purchase price $ 1,381 Repayment of Legacy-Diamond debt $ 2,029 Total consideration transferred $ 3,410 (1) Represents the average of the opening and closing price of HGV stock on August 2, 2021.
Schedule of Preliminary Fair Values of Assets Acquired and Liabilities Assumed	Any potential adjustments made could be material in relation to the values presented in the table below. As of March 31, 2022, the primary areas of the purchase price allocation that are not yet finalized include the following: (1) finalizing the review and valuation of acquired intangible assets and assigning the useful lives to such assets; (2) finalizing the review and valuation of acquired undeveloped land, property and equipment (including key assumptions, inputs and estimates) and assigning the remaining useful lives to the depreciable assets; (3) finalizing the review of accounts receivable, including the evaluation of which receivables are purchased credit deteriorated; (4) finalizing the valuation of certain in-place contracts or contractual relationships (including but not limited to leases), including determining the appropriate amortization period; (5) finalizing the review and valuation of other acquired assets and assumed liabilities; and (6) finalizing our estimate of the impact of purchase accounting on deferred income tax liabilities. ($ in millions) Preliminary Amounts Recognized as of the Acquisition Date Assets acquired Cash and cash equivalents $ 310 Restricted cash 127 Accounts receivable, net of allowance for doubtful accounts 97 Timeshare financing receivables, net 825 Inventory 497 Property and equipment, net 298 Operating lease right-of-use assets, net 30 Intangible assets, net 1,431 Other assets 250 Total assets acquired $ 3,865 Liabilities assumed Accounts payable, accrued expenses and other $ 484 Non-recourse debt, net 660 Operating lease liabilities 33 Advanced deposits 4 Deferred revenues 140 Deferred income tax liabilities 485 Total liabilities assumed $ 1,806 Net assets acquired $ 2,059 Total consideration transferred $ 3,410 Goodwill (1) $ 1,351 (1) Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes.
Schedule of Financing Receivables	Acquired timeshare financing receivables with credit deterioration as of the Acquisition Date were as follows: ($ in millions) As of August 2, 2021 Purchase price $ 825 Allowance for credit losses 512 Premium attributable to other factors ( 97 ) Par value $ 1,240
Schedule of Preliminary Estimates Of The Fair Value of Intangible Assets and Estimated Remaining Useful Lives	The following table presents our preliminary estimates of the fair values of the acquired Diamond’s identified intangible assets and their related estimated remaining useful lives. Estimated Fair Estimated Value Useful Life ($ in millions) (in years) Trade name $ 18 1.5 Management contracts 1,251 35.4 Club member relationships 139 14.4 Computer software 23 1.5 Total intangible assets $ 1,431
Schedule of Goodwill	Diamond Acquisition. We have allocated the acquired goodwill to our segments, Real Estate Sales and Financing and Resort Operations and Club Management, as indicated in the table below. Our allocations may change throughout the measurement period as we continue to finalize the fair value of assets acquired and liabilities assumed in the Diamond Acquisition. Real Estate Sales and Financing Segment Resort Operations and Club Management Segment Total Consolidated Goodwill $ 996 $ 355 $ 1,351
Schedule of Acquisition Pro Forma Information	The following unaudited pro forma information presents the combined results of operations of HGV and Diamond as if we had completed the Diamond Acquisition o n January 1, 2021, the first day of our prior fiscal year, but using our preliminary fair values of assets and liabilities as of the Acquisition Date. These unaudited pro forma results do not reflect any synergies from operating efficiencies. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the Diamond Acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations. ($ in millions, except per share data) Three Months Ended Revenue $ 490 Net loss ( 49 )

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues by Segment from Contracts with Customers	The following tables show our disaggregated revenues by product and 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 20: Business Segments below for more details related to our segments. ($ in millions) Three Months Ended March 31, Real Estate Sales and Financing Segment 2022 2021 Sales of VOIs, net $ 269 $ 33 Sales, marketing, brand and other fees 119 53 Interest income 55 31 Other financing revenue 9 6 Real estate sales and financing segment revenues $ 452 $ 123 ($ in millions) Three Months Ended March 31, Resort Operations and Club Management Segment 2022 2021 Club management $ 51 $ 27 Resort management 74 18 Rental (1) 124 30 Ancillary services 12 2 Resort operations and club management segment revenues $ 261 $ 77 (1) Excludes intersegment eliminations. See Note 20: 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: March 31, December 31, ($ in millions) 2022 2021 Receivables $ 271 $ 202 The following table presents the composition of our contract liabilities. March 31, December 31, ($ in millions) 2022 2021 Contract liabilities: Advanced deposits $ 126 $ 112 Deferred sales of VOIs of projects under construction 77 34 Club dues and Legacy-HGV Club activation fees 159 91 Bonus Point incentive liability (1) 47 44 (1) Amounts related to the 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 March 31, 2022 and December 31, 2021: March 31, December 31, ($ in millions) 2022 2021 Sales of VOIs, net $ 77 $ 34 Cost of VOI sales (1) 26 12 Sales and marketing expense 11 5 (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, and Legacy-HGV Club activation fees and Bonus Points as of March 31, 2022: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 126 18 months Upon customer stays Legacy-HGV Club activation fees 62 7 years Straight-line basis over average inventory holding period Bonus Points 47 18 - 30 months Upon redemption

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Restricted Cash	Restricted cash was as follows: March 31, December 31, ($ in millions) 2022 2021 Escrow deposits on VOI sales $ 191 $ 152 Reserves related to non-recourse debt (1) 66 67 Other (2) 46 44 $ 303 $ 263 (1) See Note 13: Debt & Non-recourse Debt for further discussion. ( 2) Other restricted cash primarily includes cash collected on behalf of HOAs, deposits related to servicer arrangements and other deposits.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2022
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. March 31, December 31, ($ in millions) 2022 2021 Fee-for-service commissions (1) $ 69 $ 73 Real estate and financing 50 51 Resort and club operations 143 76 Tax receivables 80 95 Insurance claims receivable 95 — Other receivables (2) 10 7 Total $ 447 $ 302 (1) Net of allowance. (2) Primarily includes individually insignificant accounts receivable and related allowances recognized in the ordinary course of business.
Changes in Allowance for Fee-for-Service Commissions	The changes in our allowance for fee-for-service commissions were as follows during the period from December 31, 2021 to March 31, 2022: ($ in millions) Balance as of December 31, 2021 $ 18 Current period provision for expected credit losses 2 Write-offs charged against the allowance ( 8 ) Balance at March 31, 2022 $ 12

Timeshare Financing Receivabl_2

Timeshare Financing Receivables (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of Financing Receivable	The following table presents the components of each portfolio segment by class of timeshare financing receivables. Originated (2) Acquired (2) March 31, December 31, March 31, December 31, ($ in millions) 2022 2021 2022 2021 Securitized $ 538 $ 587 $ 414 $ 523 Unsecuritized (1) 914 810 550 515 Timeshare financing receivables, gross $ 1,452 $ 1,397 $ 964 $ 1,038 Unamortized non-credit acquisition premium (3) — — 65 74 Less: allowance for financing ( 302 ) ( 280 ) ( 461 ) ( 482 ) Timeshare financing receivables, net $ 1,150 $ 1,117 $ 568 $ 630 (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. (2) Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date. (3) Non-credit premium of $ 97 million was recognized at the Acquisition Date, of which $65 million remains unamortized as of March 31, 2022 .
Schedule of Future Payments Due from Financing Receivables	Our acquired timeshare financing receivables as of March 31, 2022 mature as follows: Acquired Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2022 (remaining) $ 31 $ 31 $ 62 2023 44 46 90 2024 48 51 99 2025 52 56 108 2026 55 61 116 Thereafter 184 305 489 $ 414 $ 550 $ 964 Our originated timeshare financing receivables as of March 31, 2022 mature as follows: Originated Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2022 (remaining) $ 59 $ 54 $ 113 2023 81 66 147 2024 82 73 155 2025 79 81 160 2026 74 89 163 Thereafter 163 551 714 $ 538 $ 914 $ 1,452
Schedule of Change in Allowance for Financing Receivables Losses	The changes in our allowances for financing receivables losses were as follows: March 31, 2022 ($ in millions) Originated Acquired Balance as of December 31, 2021 $ 280 $ 482 Provision for financing receivables losses (1) 31 — Write-offs ( 25 ) ( 6 ) Upgrades (2) 16 ( 15 ) Balance as of March 31, 2022 $ 302 $ 461 March 31, 2021 ($ in millions) Originated Acquired Balance as of December 31, 2020 $ 211 $ — Provision for financing receivables losses (1) 16 — Write-offs ( 20 ) — Balance as of March 31, 2021 $ 207 $ — (1) Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables. (2) Represents the initial change in allowance resulting from upgrades of Acquired loans. Upgraded Acquired loans and their related allowance are included in the Originated portfolio segment.
Schedule of Financing Receivables by Average FICO Score	Our gross balances by average FICO score of our Legacy-HGV timeshare financing receivables were as follows: Legacy-HGV Timeshare Financing Receivables March 31, December 31, ($ in millions) 2022 2021 FICO score 700+ $ 691 $ 703 600-699 247 248 <600 34 35 No score (1) 165 166 $ 1,137 $ 1,152 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Our gross balances by average FICO score of our Legacy-Diamond acquired and originated timeshare financing receivables were as follows: Legacy-Diamond ($ in millions) March 31, 2022 December 31, 2021 FICO score 700+ $ 550 $ 601 600-699 336 356 <600 67 70 No score (1) 11 11 $ 964 $ 1,038 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Legacy-Diamond ($ in millions) March 31, 2022 December 31, 2021 FICO score 700+ $ 213 $ 172 600-699 83 60 <600 16 11 No score (1) 3 2 $ 315 $ 245 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Details of Financing Receivables by Origination Year and Average FICO Score	The following table details our Legacy-HGV timeshare financing receivables by the origination year and average FICO score as of March 31, 2022: ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ 89 $ 203 $ 70 $ 121 $ 83 $ 125 $ 691 600-699 24 73 27 44 30 49 247 <600 3 10 4 6 4 7 34 No score (1) 13 37 23 34 23 35 165 $ 129 $ 323 $ 124 $ 205 $ 140 $ 216 $ 1,137 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following tables detail our Legacy-Diamond acquired and originated timeshare financing receivables by the origination year and average FICO score as of March 31, 2022: Legacy-Diamond Acquired Timeshare Financing Receivables ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ — $ 105 $ 118 $ 138 $ 88 $ 101 $ 550 600-699 — 58 67 85 48 78 336 <600 — 13 17 14 5 18 67 No score (1) — 2 2 2 1 4 11 $ — $ 178 $ 204 $ 239 $ 142 $ 201 $ 964 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Legacy-Diamond Originated Timeshare Financing Receivables ($ in millions) 2022 2021 2020 2019 2018 Prior Total FICO score 700+ $ 89 $ 124 $ — $ — $ — $ — $ 213 600-699 30 53 — — — — 83 <600 6 10 — — — — 16 No score (1) 1 2 — — — — 3 $ 126 $ 189 $ — $ — $ — $ — $ 315 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Schedule of Past Due Financing Receivables	As of March 31, 2022 and December 31, 2021 , we had ceased accruing interest on timeshare financing receivables with an aggregate principal balance of $ 70 million and $ 83 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Legacy-HGV Timeshare Financing Receivables March 31, 2022 ($ in millions) Securitized Unsecuritized Total Current $ 516 $ 536 $ 1,052 31 - 90 days past due 6 9 15 91 - 120 days past due 2 3 5 121 days and greater past due 2 63 65 $ 526 $ 611 $ 1,137 Legacy-HGV Timeshare Financing Receivables December 31, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 569 $ 488 $ 1,057 31 - 90 days past due 6 6 12 91 - 120 days past due 2 2 4 121 days and greater past due 2 77 79 $ 579 $ 573 $ 1,152 As of March 31, 2022 and December 31, 2021 , we had ceased accruing interest on Legacy-Diamond timeshare financing receivables with an aggregate principal balance of $ 396 million and $ 369 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Legacy-Diamond Timeshare Financing Receivables March 31, 2022 ($ in millions) Securitized Unsecuritized Total Current $ 397 $ 447 $ 844 31 - 90 days past due 14 25 39 91 - 120 days past due 5 9 14 121 days and greater past due 10 372 382 $ 426 $ 853 $ 1,279 Legacy-Diamond Timeshare Financing Receivables December 31, 2021 ($ in millions) Securitized Unsecuritized Total Current $ 496 $ 385 $ 881 31 - 90 days past due 15 18 33 91 - 120 days past due 6 5 11 121 days and greater past due 14 344 358 $ 531 $ 752 $ 1,283

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory was comprised of the following: March 31, December 31, ($ in millions) 2022 2021 Completed unsold VOIs $ 1,187 $ 1,219 Construction in process 27 20 Land, infrastructure and other 1 1 $ 1,215 $ 1,240
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. Three months ended March 31, ($ in millions) 2022 2021 Cost of sales true-up (1) $ 7 $ 6 Cost of VOI sales related to fee-for-service upgrades 2 1 (1) For the three months ended March 31, 2022 and 2021, t he cost of sales true-up reduced costs of VOI sales and increased inventory.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment and Related Depreciation Expenses	Property and equipment were comprised of the following: March 31, December 31, ($ in millions) 2022 2021 Land $ 193 $ 193 Building and leasehold improvements 405 405 Furniture and equipment 81 82 Construction in progress 240 231 919 911 Accumulated depreciation ( 165 ) ( 155 ) $ 754 $ 756

Consolidated Variable Interes_2

Consolidated Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, December 31, ($ in millions) 2022 2021 Restricted cash $ 61 $ 62 Timeshare financing receivables, net 893 1,021 Non-recourse debt (1) 1,043 1,195 (1) Net of deferred financing costs.

Debt & Non-recourse Debt (Table

Debt & Non-recourse Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings	The following table details our outstanding debt balance and its associated interest rates: March 31, December 31, ($ in millions) 2022 2021 Debt (1) Senior secured credit facility Term loan with a rate of 3.50 %, due 2028 $ 1,294 $ 1,297 Revolver with a rate of 2.47 %, due 2026 300 300 Senior notes with a rate of 5.000 %, due 2029 850 850 Senior notes with a rate of 4.875 %, due 2031 500 500 Other debt 28 27 2,972 2,974 Less: unamortized deferred financing costs and discounts (2)(3) ( 59 ) ( 61 ) $ 2,913 $ 2,913 (1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively. (2) Amount includes unamortized deferred financing costs related to our term loan and senior notes of $ 31 million and $ 22 million, respectively, as of March 31, 2022 and $ 33 million and $ 22 million, respectively, as of December 31, 2021. This amount also includes unamortized original issuance discounts of $ 6 million as of March 31, 2022 and December 31, 2021 . (3) Amount does not include unamortized deferred financing costs of $ 5 million as of March 31, 2022 and December 31, 2021 related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets. The following table details our outstanding non-recourse debt balance and associated interest rates: March 31, December 31, ($ in millions) 2022 2021 Non-recourse debt (1) Timeshare Facility with an average rate of 2.20 %, due 2023 (3) $ 161 $ 131 HGV Securitized Debt with a weighted average rate of 2.711 %, due 2028 62 70 HGV Securitized Debt with a weighted average rate of 3.602 %, due 2032 131 143 HGV Securitized Debt with a weighted average rate of 2.431 %, due 2033 136 151 HGV Securitized Debt with a weighted average rate of 3.658 %, due 2039 180 193 Diamond Resorts Premium Yield Facility with an average rate of 4.766 %, due 2031 7 8 Diamond Resorts Conduit Facility with an average rate of 2.250 %, due 2023 125 125 Diamond Resorts Conduit Facility with an average rate of 3.000 %, due 2024 — 8 Diamond Resorts Owner Trust 2017 with a weighted average rate of 3.504 %, due 2029 — 41 Diamond Resorts Owner Trust 2018 with a weighted average rate of 4.061 %, due 2031 81 92 Diamond Resorts Owner Trust 2019 with a weighted average rate of 3.277 %, due 2032 127 148 Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160 %, due 2032 198 224 1,208 1,334 Less: unamortized deferred financing costs (2) ( 5 ) ( 6 ) $ 1,203 $ 1,328 (1) As of March 31, 2022 and December 31, 2021, weighted-average interest rates were 2.873 % and 2.876 %, respectively. (2) Amount relates to Securitized Debt only and does not include unamortized deferred financing costs of $ 2 million and $ 2 million as of March 31, 2022 and December 31, 2021, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets.
Schedule Of Derivative Instruments Effect On Other Comprehensive Income Loss	The following table reflects the activity in accumulated other comprehensive income related to our derivative instruments during the three months ended March 31, 2022. Net unrealized gain on derivative instruments Balance as of December 31, 2021 $ 2 Other comprehensive income before reclassifications, net 21 Reclassification to net income 1 Balance as of March 31, 2022 $ 24
Schedule of Contractual Maturities of Debt	The contractual maturities of our debt and non-recourse debt as of March 31, 2022 were as follows: ($ in millions) Debt Non-recourse Debt Total Year 2022 (remaining) $ 12 $ 355 $ 367 2023 15 562 577 2024 14 88 102 2025 13 138 151 2026 313 38 351 Thereafter 2,605 27 2,632 $ 2,972 $ 1,208 $ 4,180

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, 2022 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 1,718 $ — $ 1,836 Liabilities: Debt, net (2) 2,913 2,564 338 Non-recourse debt, net (2) 1,203 905 291 December 31, 2021 Hierarchy Level ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 1,747 $ — $ 1,905 Liabilities: Debt, net (2) 2,913 2,663 340 Non-recourse debt, net (2) 1,328 1,080 270 (1) Carrying amount net of allowance for financing receivables losses. (2) Carrying amount net of unamortized deferred financing costs and discount.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Related Amortization Expense	Intangible assets and related accumulated amortization were as follows: March 31, 2022 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ ( 8 ) $ 10 Management contracts 1,340 ( 137 ) 1,203 Club member relationships 139 ( 18 ) 121 Capitalized software 144 ( 78 ) 66 $ 1,641 $ ( 241 ) $ 1,400 December 31, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ ( 5 ) $ 13 Management contracts 1,340 ( 106 ) 1,234 Club member relationships 139 ( 12 ) 127 Capitalized software 138 ( 71 ) 67 $ 1,635 $ ( 194 ) $ 1,441

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule Of Supplemental Cash Flow Information Related To Operating Leases	Supplemental cash flow information related to operating leases was as follows: Three Months Ended March 31, ($ in millions) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 7 $ 5 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 2 —
Schedule Of Supplemental Balance Sheet Information Related To Operating Leases	Supplemental balance sheet information related to operating leases was as follows: March 31, December 31, 2022 2021 Weighted-average remaining lease term of operating leases (in years) 4 4 Weighted-average discount rate of operating leases 4.31 % 4.35 %
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 March 31, 2022, are as follows: ($ in millions) Operating Leases Year 2022 (remaining) 20 2023 26 2024 18 2025 15 2026 9 Thereafter 6 Total future minimum lease payments $ 94 Less: imputed interest ( 9 ) Present value of lease liabilities $ 85

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Valuation Assumptions	The weighted-average grant date fair value of these options was $ 20.08 , which was determined using the Black-Scholes-Merton option-pricing model with the assumptions included in the table below. Expected volatility is calculated using our historical and implied volatility of our share price. Dividend yield is calculated based on our expected future payout at the time of issuance. Risk-free rate is based on the yields of U.S. Department of Treasury instruments with similar maturities. Expected term is estimated using the vesting period and contractual term of the Options. Expected volatility 45.8 % Dividend yield — % Risk-free rate 1.7 % Expected term (in years) 6.0 As of March 31, 2022, we had 1,547,979 Options outstanding that were exercisable.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share, Basic and Diluted	The following tables below present the calculation of our basic and diluted earnings (loss) per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, ($ and shares outstanding in millions, except per share amounts) 2022 2021 Basic EPS: Numerator: Net income (loss) (1) $ 51 $ ( 7 ) Denominator: Weighted average shares outstanding 120 85 Basic EPS $ 0.42 $ ( 0.08 ) Diluted EPS: Numerator: Net income (loss) (1) $ 51 $ ( 7 ) Denominator: Weighted average shares outstanding 122 85 Diluted EPS $ 0.42 $ ( 0.08 ) (1) Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively. Three months ended March 31, 2022 2021 Weighted average shares outstanding: Basic EPS 119,980,766 85,307,705 Diluted EPS 121,844,837 85,307,705

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
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 Sales, marketing, brand, and other fees on our unaudited condensed consolidated statements of operations as of the date they became related parties. Three Months Ended March 31, ($ in millions) 2022 2021 Equity in earnings from unconsolidated affiliates $ 3 $ 2 Commissions and other fees 33 13

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, ($ in millions) 2022 2021 Revenues: Real estate sales and financing $ 452 $ 123 Resort operations and club management (1) 268 80 Total segment revenues 720 203 Cost reimbursements 66 35 Intersegment eliminations (1)(2) ( 7 ) ( 3 ) Total revenues $ 779 $ 235 (1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $ 7 million and $ 3 million for the three months ended March 31, 2022 and 2021 , respectively. (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 months ended March 31, 2022 and 2021 .
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 March 31, ($ in millions) 2022 2021 Adjusted EBITDA: Real estate sales and financing (1) $ 153 $ 27 Resort operations and club management (1) 101 42 Segment Adjusted EBITDA 254 69 Acquisition and integration-related expense ( 13 ) ( 15 ) General and administrative ( 42 ) ( 21 ) Depreciation and amortization ( 60 ) ( 11 ) License fee expense ( 25 ) ( 14 ) Other gain (loss), net 1 ( 1 ) Interest expense ( 33 ) ( 15 ) Income tax (expense) benefit ( 20 ) 6 Equity in earnings from unconsolidated affiliates 3 2 Impairment expense ( 3 ) ( 1 ) Other adjustment items (2) ( 11 ) ( 6 ) Net income (loss) $ 51 $ ( 7 ) (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) For the three months ended March 31, 2022 and 2021, 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)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Remaining Purchase Obligations	As of March 31, 2022, our remaining obligations pursuant to these arrangements were expected to be incurred as follows: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Total Inventory purchase obligations $ 59 $ 215 $ 40 $ 3 $ 3 $ 9 $ 329 Other commitments (1) 10 5 — — — — 15 Total $ 69 $ 220 $ 40 $ 3 $ 3 $ 9 $ 344 (1) Primarily relates to commitments related to information technology and sponsorships.

Organization and Basis of Pre_2

Organization and Basis of Presentation - Additional Information (Details) - Property	Mar. 31, 2022	Aug. 02, 2021	Mar. 10, 2021
Restructuring Cost and Reserve [Line Items]
Number of timeshare properties	154
Dakota Holdings Inc
Restructuring Cost and Reserve [Line Items]
Outstanding equity interests	100.00%	100.00%
Remaining Acquired Stake after effective acquisition	50.00%	28.00%	72.00%

Diamond Acquisition - Additiona

Diamond Acquisition - Additional Information (Details) - USD ($) $ in Millions	Aug. 02, 2021		Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Acquisition and consideration transferred paid off			$ 2,029
Adjustments goodwill include decrease in intangible assets			26
Recognized goodwill			$ 1,351	$ 1,377
Diamond Acquisition
Business Acquisition [Line Items]
Business combination, percentage of interests acquired	28.00%
Business combination, number of shares issuable			33.93
Recognized goodwill	$ 1,351	[1]	$ 1,351
Diamond Acquisition | Apollo
Business Acquisition [Line Items]
Business combination, percentage of interests acquired			72.00%
Diamond Acquisition | Common Stock
Business Acquisition [Line Items]
Business combination, percentage of interests acquired	100.00%
Business combination, number of shares issuable	0.32
[1]	Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes.

Diamond Acquisition - Schedule

Diamond Acquisition - Schedule of Fair Value of Consideration Transferred (Details) - Diamond Acquisition [Member] - USD ($) $ / shares in Units, $ in Millions		Aug. 02, 2021	Mar. 31, 2022
Business Acquisition [Line Items]
HGV common stock shares issued for outstanding Diamond shares			33.93
HGV common stock price as of Acquisition Date	[1]		$ 40.71
Stock purchase price			$ 1,381
Repayment of Legacy-Diamond debt			2,029
Total consideration transferred		$ 3,410	$ 3,410
[1]	Represents the average of the opening and closing price of HGV stock on August 2, 2021.

Diamond Acquisition - Schedul_2

Diamond Acquisition - Schedule of Preliminary Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Aug. 02, 2021		Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Timeshare financing receivables, net			$ 1,718	$ 1,747
Operating lease right-of-use assets, net			65	70
Advanced deposits			126	112
Goodwill			1,351	$ 1,377
Diamond Acquisition
Business Acquisition [Line Items]
Cash and cash equivalents	$ 310
Restricted cash	127
Accounts receivable, net of allowance for doubtful accounts	97
Timeshare financing receivables, net	825
Inventory	497
Property and equipment, net	298
Operating lease right-of-use assets, net	30
Intangible assets, net	1,431
Other assets	250
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	3,865
Accounts payable, accrued expenses and other	484
Non-recourse debt, net	660
Operating lease liabilities	33
Advanced deposits	4
Deferred revenues	140
Deferred income tax liabilities	485
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total	1,806
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total	2,059
Total consideration transferred	3,410		3,410
Goodwill	$ 1,351	[1]	$ 1,351
[1]	Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes.

Diamond Acquisition - Schedul_3

Diamond Acquisition - Schedule of Financing Receivables (Details) $ in Millions	Aug. 02, 2021USD ($)
Business Combinations [Abstract]
Purchase price	$ 825
Allowance for credit losses	512
(Premium) attributable to other factors	(97)
Par value	$ 1,240

Diamond Acquisition - Schedul_4

Diamond Acquisition - Schedule of Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Aug. 02, 2021	[1]
Goodwill, Total Consolidated	$ 1,351	$ 1,377
Diamond Acquisition
Goodwill, Total Consolidated	1,351		$ 1,351
Real Estate and Financing Segment
Goodwill, Total Consolidated	996
Resort Operations and Club Management Segment
Goodwill, Total Consolidated	$ 355
[1]	Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes.

Diamond Acquisition - Schedul_5

Diamond Acquisition - Schedule of Preliminary Estimates Of The Fair Value of Intangible Assets and Estimated Remaining Use (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 241	$ 194
Diamond Acquisition
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	1,431
Trade name | Diamond Acquisition
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 18
Estimated Useful Life	1 year 6 months
Management contracts | Diamond Acquisition
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 1,251
Estimated Useful Life	35 years 4 months 24 days
Club member relationships | Diamond Acquisition
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 139
Estimated Useful Life	14 years 4 months 24 days
Computer software | Diamond Acquisition
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 23
Estimated Useful Life	1 year 6 months

Diamond Acquisition - Schedul_6

Diamond Acquisition - Schedule of Acquisition Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues	$ 779	$ 235
Diamond Acquisition [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues		490
Net income (loss)		$ (49)

Diamond Acquisition - Summary o

Diamond Acquisition - Summary of Diamond Results of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Combinations [Abstract]
Revenues	$ 779	$ 235

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)Segment	Dec. 31, 2021USD ($)
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of operating segments | Segment	2
Deferred revenue that was included in the contract liabilities balance	$ 159	$ 112
Additional deferred revenue	50	51
Deferred property insurance	38	14
Marketing package deferred revenue	30	10
Deferred maintenance fees	41	37
Sales Of Vacation Ownership Intervals [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract Assets	$ 0	0
Revenue earned that was included in the contract liabilities balance		$ 44

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
		Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenues		$ 779	$ 235
Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		452	123
Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		261	77
Sales of VOIs, Net
Disaggregation Of Revenue [Line Items]
Total revenues		269	33
Sales of VOIs, Net | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		269	33
Sales, Marketing, Brand and Other Fees
Disaggregation Of Revenue [Line Items]
Total revenues		119	53
Sales, Marketing, Brand and Other Fees | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		119	53
Interest Income | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		55	31
Other Financing Revenue | Real Estate and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues		9	6
Club Management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		51	27
Resort Management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		74	18
Rental | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	[1]	124	30
Ancillary Services | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues		$ 12	$ 2
[1]	Excludes intersegment eliminations. See Note 20: 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	Mar. 31, 2022	Dec. 31, 2021
Accounts Receivables
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Receivables	$ 271	$ 202

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Composition of Contract Liabilities (Details) - Topic 606 - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Advanced deposits
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		$ 126	$ 112
Deferred Sales of VOIs of projects under construction
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		77	34
Annual dues and Legacy-HGV Club activation fees
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities		159	91
Bonus Point incentive liability
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	[1]	$ 47	$ 44
[1]	Amounts related to the 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		3 Months Ended	12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Sales of VOIs, net		$ 395	$ 237
Sales of VOIs
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Sales of VOIs, net		77	34
Cost of VOI sales	[1]	26	12
Sales and marketing expense		$ 11	$ 5
[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	3 Months Ended
	Mar. 31, 2022USD ($)
Advanced deposits
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Remaining Transaction Price	$ 126
Recognition Period	18 months
Recognition Method	Upon customer stays
Legacy-HGV 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
Bonus Points
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Remaining Transaction Price	$ 47
Recognition Method	Upon redemption
Bonus Points | Maximum
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Recognition Period	30 months
Bonus Points | Minimum
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Recognition Period	18 months

Restricted Cash - Schedule of R

Restricted Cash - Schedule of Restricted Cash (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 303	$ 263
Escrow deposits on VOI sales
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		191	152
Reserves related to non-recourse debt
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	[1]	66	67
Other [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	[2]	$ 46	$ 44
[1]	(1) See Note 13: Debt & Non-recourse Debt for further discussion.
[2]	2) Other restricted cash primarily includes cash collected on behalf of HOAs, deposits related to servicer arrangements and other deposits.

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable, Net of Allowance for Credit Losses (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		$ 447	$ 302
Real Estate and Financing
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		50	51
Fee-for-Service Commission
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	[1]	69	73
Resort and Club Operations
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		143	76
Tax Receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		80	95
Insurance claims receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances		95	0
Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	[2]	$ 10	$ 7
[1]	Net of allowance.
[2]	Primarily includes individually insignificant accounts receivable and related allowances recognized in the ordinary course of business.

Accounts Receivable - Changes i

Accounts Receivable - Changes in Allowance for Fee-for-Service Commissions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Accounts Notes And Loans Receivable [Line Items]
Balance as of December 31, 2021	$ 39
Balance at March 31, 2022	46
Fee-for-Service Commission
Accounts Notes And Loans Receivable [Line Items]
Balance as of December 31, 2021	18
Current period provision for expected credit losses	2
Write-offs charged against the allowance	(8)
Balance at March 31, 2022	$ 12

Timeshare Financing Receivabl_3

Timeshare Financing Receivables - Schedule of Timeshare Financing Receivables (Details) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021		Mar. 31, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, net		$ 1,718		$ 1,747
Originated
Accounts Notes And Loans Receivable [Line Items]
Securitized	[1]	538		587
Unsecuritized	[1],[2]	914		810
Timeshare financing receivables, gross	[1]	1,452		1,397
Unamortized non-credit acquisition preminum		97		0	[1],[3]
Less: allowance for financing receivables losses		(302)	[1]	(280)	[1]	$ (207)	$ (211)
Timeshare financing receivables, net	[1]	1,150		1,117
Acquired
Accounts Notes And Loans Receivable [Line Items]
Securitized	[1]	414		523
Unsecuritized	[1],[2]	550		515
Timeshare financing receivables, gross	[1]	964		1,038
Unamortized non-credit acquisition preminum	[1],[3]	65		74
Less: allowance for financing receivables losses		(461)	[1]	(482)	[1]	$ 0	$ 0
Timeshare financing receivables, net	[1]	$ 568		$ 630
[1]	Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date.
[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.
[3]	Non-credit premium of $ 97 million was recognized at the Acquisition Date, of which $65 million remains unamortized as of March 31, 2022 .

Timeshare Financing Receivabl_4

Timeshare Financing Receivables - Timeshare financing receivables (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Originated
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unamortized non-credit acquisition preminum	$ 97	$ 0	[1],[2]
[1]	Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date.
[2]	Non-credit premium of $ 97 million was recognized at the Acquisition Date, of which $65 million remains unamortized as of March 31, 2022 .

Timeshare Financing Receivabl_5

Timeshare Financing Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Decrease in Variable Consideration	$ (31)
Timeshare financing receivable not accruing interest	$ 70	$ 83
Originated
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, weighted average interest rate (as a percent)	13.60%
Financing receivable weighted average maturities year	2037
Interest receivable outstanding	$ 10	9
Acquired
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, weighted average interest rate (as a percent)	15.70%
Financing receivable, weighted average remaining term (in years)	7 years 9 months 18 days
Financing receivable weighted average maturities year	2032
Interest receivable outstanding	$ 6	7
Legacy-Diamond
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivable not accruing interest	$ 396	369
Minimum | Originated
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	1.50%
Minimum | Acquired
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	2.00%
Maximum | Originated
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	25.80%
Maximum | Acquired
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	25.00%
Secured Debt
Accounts Notes And Loans Receivable [Line Items]
Gross timeshare receivables securing the Timeshare Facility	$ 159	$ 131

Timeshare Financing Receivabl_6

Timeshare Financing Receivables - Maturities of Financing Receivables (Details) $ in Millions	Mar. 31, 2022USD ($)
Acquired
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	$ 62
2023	90
2024	99
2025	108
2026	116
Thereafter	489
Timeshare financing receivable maturities, net	964
Originated
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	113
2023	147
2024	155
2025	160
2026	163
Thereafter	714
Timeshare financing receivable maturities, net	1,452
Securitized | Acquired
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	31
2023	44
2024	48
2025	52
2026	55
Thereafter	184
Timeshare financing receivable maturities, net	414
Securitized | Originated
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	59
2023	81
2024	82
2025	79
2026	74
Thereafter	163
Timeshare financing receivable maturities, net	538
Unsecuritized | Acquired
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	31
2023	46
2024	51
2025	56
2026	61
Thereafter	305
Timeshare financing receivable maturities, net	550
Unsecuritized | Originated
Accounts Notes And Loans Receivable [Line Items]
2022 (remaining)	54
2023	66
2024	73
2025	81
2026	89
Thereafter	551
Timeshare financing receivable maturities, net	$ 914

Timeshare Financing Receivabl_7

Timeshare Financing Receivables - Financing Receivable by Average FICO Score (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	[1]	$ 1,452	$ 1,397
Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	[1]	964	1,038
Legacy-HGV
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		1,137	1,152
Legacy-Diamond | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		315	245
Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		964	1,038
More than 700 | Legacy-HGV
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		691	703
More than 700 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		213	172
More than 700 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		550	601
600-699 | Legacy-HGV
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		247	248
600-699 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		83	60
600-699 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		336	356
Less than 600 | Legacy-HGV
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		34	35
Less than 600 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		16	11
Less than 600 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross		67	70
No score | Legacy-HGV
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	[2]	165	166
No score | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	[3]	3	2
No score | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	[4]	$ 11	$ 11
[1]	Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date.
[2]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
[3]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
[4]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.

Timeshare Financing Receivabl_8

Timeshare Financing Receivables - Details of Financing Receivables by Origination Year and Average FICO Score (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[1]	$ 1,452	$ 1,397
Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[1]	964	$ 1,038
Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		315
Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		964
Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		213
Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		550
Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		83
Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		336
Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		16
Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		67
Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	3
Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	11
Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		1,137
Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		691
Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		247
Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		34
Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	165
Year Of Origination 2022 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		126
Year Of Origination 2022 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2022 | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		89
Year Of Origination 2022 | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2022 | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		30
Year Of Origination 2022 | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2022 | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		6
Year Of Origination 2022 | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2022 | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	1
Year Of Origination 2022 | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	0
Year Of Origination 2022 | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		129
Year Of Origination 2022 | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		89
Year Of Origination 2022 | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		24
Year Of Origination 2022 | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		3
Year Of Origination 2022 | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	13
Year Of Origination 2021 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		189
Year Of Origination 2021 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		178
Year Of Origination 2021 | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		124
Year Of Origination 2021 | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		105
Year Of Origination 2021 | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		53
Year Of Origination 2021 | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		58
Year Of Origination 2021 | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		10
Year Of Origination 2021 | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		13
Year Of Origination 2021 | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	2
Year Of Origination 2021 | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	2
Year Of Origination 2021 | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		323
Year Of Origination 2021 | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		203
Year Of Origination 2021 | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		73
Year Of Origination 2021 | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		10
Year Of Origination 2021 | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	37
Year Of Origination 2020 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2020 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		204
Year Of Origination 2020 | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2020 | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		118
Year Of Origination 2020 | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2020 | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		67
Year Of Origination 2020 | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2020 | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		17
Year Of Origination 2020 | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	0
Year Of Origination 2020 | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	2
Year Of Origination 2020 | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		124
Year Of Origination 2020 | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		70
Year Of Origination 2020 | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		27
Year Of Origination 2020 | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		4
Year Of Origination 2020 | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	23
Year Of Origination 2019 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2019 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		239
Year Of Origination 2019 | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2019 | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		138
Year Of Origination 2019 | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2019 | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		85
Year Of Origination 2019 | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2019 | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		14
Year Of Origination 2019 | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	0
Year Of Origination 2019 | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	2
Year Of Origination 2019 | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		205
Year Of Origination 2019 | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		121
Year Of Origination 2019 | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		44
Year Of Origination 2019 | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		6
Year Of Origination 2019 | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	34
Year Of Origination 2018 | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2018 | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		142
Year Of Origination 2018 | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2018 | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		88
Year Of Origination 2018 | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2018 | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		48
Year Of Origination 2018 | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination 2018 | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		5
Year Of Origination 2018 | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	0
Year Of Origination 2018 | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	1
Year Of Origination 2018 | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		140
Year Of Origination 2018 | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		83
Year Of Origination 2018 | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		30
Year Of Origination 2018 | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		4
Year Of Origination 2018 | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	23
Year Of Origination Prior | Legacy-Diamond | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination Prior | Legacy-Diamond | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		201
Year Of Origination Prior | Legacy-Diamond | More than 700 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination Prior | Legacy-Diamond | More than 700 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		101
Year Of Origination Prior | Legacy-Diamond | 600-699 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination Prior | Legacy-Diamond | 600-699 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		78
Year Of Origination Prior | Legacy-Diamond | Less than 600 | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		0
Year Of Origination Prior | Legacy-Diamond | Less than 600 | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		18
Year Of Origination Prior | Legacy-Diamond | No score | Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[2]	0
Year Of Origination Prior | Legacy-Diamond | No score | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[3]	4
Year Of Origination Prior | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		216
Year Of Origination Prior | Legacy-HGV | More than 700
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		125
Year Of Origination Prior | Legacy-HGV | 600-699
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		49
Year Of Origination Prior | Legacy-HGV | Less than 600
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		7
Year Of Origination Prior | Legacy-HGV | No score
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	[4]	$ 35
[1]	Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date.
[2]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
[3]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
[4]	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.

Timeshare Financing Receivabl_9

Timeshare Financing Receivables - Past Due Financing Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Legacy-Diamond
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 844	$ 881
Financing receivable, past due and current	1,279	1,283
Legacy-Diamond | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	39	33
Legacy-Diamond | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	14	11
Legacy-Diamond | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	382	358
Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,052	1,057
Financing receivable, past due and current	1,137	1,152
Legacy-HGV | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	15	12
Legacy-HGV | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	5	4
Legacy-HGV | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	65	79
Securitized | Legacy-Diamond
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	397	496
Financing receivable, past due and current	426	531
Securitized | Legacy-Diamond | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	14	15
Securitized | Legacy-Diamond | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	5	6
Securitized | Legacy-Diamond | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	10	14
Securitized | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	516	569
Financing receivable, past due and current	526	579
Securitized | Legacy-HGV | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	6	6
Securitized | Legacy-HGV | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	2	2
Securitized | Legacy-HGV | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	2	2
Unsecuritized | Legacy-Diamond
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	447	385
Financing receivable, past due and current	853	752
Unsecuritized | Legacy-Diamond | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	25	18
Unsecuritized | Legacy-Diamond | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	9	5
Unsecuritized | Legacy-Diamond | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	372	344
Unsecuritized | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	536	488
Financing receivable, past due and current	611	573
Unsecuritized | Legacy-HGV | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	9	6
Unsecuritized | Legacy-HGV | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	3	2
Unsecuritized | Legacy-HGV | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, past due	$ 63	$ 77

Timeshare Financing Receivab_10

Timeshare Financing Receivables - Schedule of Change in Allowance For Financing Receivables Losses (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022		Mar. 31, 2021
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for financing receivables losses		$ 31		$ 16
Originated
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan loss, beginning balance		280	[1]	211
Provision for financing receivables losses	[2]	31		16
Write-offs		(25)		(20)
Securitization	[3]	16
Allowance for loan loss, ending balance		302	[1]	207
Acquired
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan loss, beginning balance		482	[1]	0
Provision for financing receivables losses				0
Write-offs		(6)		0
Securitization	[3]	(15)
Allowance for loan loss, ending balance		$ 461	[1]	$ 0
[1]	Acquired timeshare financing receivables include all timeshare financing receivables of Legacy-Diamond as of the Acquisition Date. Originated timeshare financing receivables include all Legacy-HGV timeshare financing receivables and Legacy-Diamond timeshare financing receivables originated after the Acquisition Date.
[2]	Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.
[3]	Represents the initial change in allowance resulting from upgrades of Acquired loans. Upgraded Acquired loans and their related allowance are included in the Originated portfolio segment.

Inventory - Schedule of Invento

Inventory - Schedule of Inventory, Noncurrent (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Completed unsold VOIs	$ 1,187	$ 1,219
Construction in process	27	20
Land, infrastructure and other	1	1
Inventory	$ 1,215	$ 1,240

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
		Mar. 31, 2022	Mar. 31, 2021
Time Share
Inventory [Line Items]
Expenses	[1]	$ 7	$ 6
Fee For Service Upgrades
Inventory [Line Items]
Expenses		$ 2	$ 1
[1]	For the three months ended March 31, 2022 and 2021, t he cost of sales true-up reduced costs of VOI sales and increased inventory.

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 919	$ 911
Accumulated depreciation	(165)	(155)
Property and equipment, net	754	756
Land
Property Plant And Equipment [Line Items]
Property and equipment, gross	193	193
Building and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	405	405
Furniture and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	81	82
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 240	$ 231

Consolidated Variable Interes_3

Consolidated Variable Interest Entities - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VIEs acquired amount, outstanding	$ 125,000,000	$ 133,000,000
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		Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets, variable interest entity		$ 8,442	$ 8,008
Liabilities, variable interest entity		6,377	6,020
Variable Interest Entities
Variable Interest Entity [Line Items]
Assets, variable interest entity		973	1,100
Liabilities, variable interest entity		1,047	1,199
Variable Interest Entities | Restricted cash
Variable Interest Entity [Line Items]
Assets, variable interest entity		61	62
Variable Interest Entities | Timeshare financing receivables, net
Variable Interest Entity [Line Items]
Assets, variable interest entity		893	1,021
Variable Interest Entities | Non-recourse debt
Variable Interest Entity [Line Items]
Liabilities, variable interest entity	[1]	$ 1,043	$ 1,195
[1]	Net of deferred financing costs.

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Affiliate	Dec. 31, 2021USD ($)
Schedule Of Investments [Line Items]
Number of unconsolidated affiliates | Affiliate	2
Debt	$ 2,913	$ 2,913
Investments in unconsolidated affiliates	$ 62	59
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	$ 433	$ 463

Debt & Non-recourse Debt - Sche

Debt & Non-recourse Debt - Schedule of Outstanding Borrowings (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross	[1]	$ 2,972	$ 2,974
Less: unamortized deferred financing costs and discount	[2],[3]	(59)	(61)
Long-term debt		2,913	2,913
Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(5)	(5)
Revolver with a rate of 2.47%, due 2026 | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross		300	300
Line of Credit
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(31)	(33)
Line of Credit | Term loan with a rate of 3.50%, due 2028
Debt Instrument [Line Items]
Long-term debt, gross		1,294	1,297
Senior Notes
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		(22)	(22)
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Long-term debt, gross		850	850
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Long-term debt, gross		500	500
Senior Notes | Diamond Resorts Owner Trust 2017 with a weighted average rate of 3.504%, due 2029
Debt Instrument [Line Items]
Long-term debt, gross		0	41	[4]
Senior Notes | Diamond Resorts Owner Trust 2018 with a weighted average rate of 4.061%, due 2031
Debt Instrument [Line Items]
Long-term debt, gross	[4]	81	92
Senior Notes | Other Debt
Debt Instrument [Line Items]
Long-term debt, gross		28	27
Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	[4]	1,208	1,334
Less: unamortized deferred financing costs and discount	[5]	(5)	(6)
Long-term debt	[5]	1,203	1,328
Secured Debt | Timeshare Facility with an average rate of 2.20%, due 2023
Debt Instrument [Line Items]
Long-term debt, gross	[4]	161	131
Secured Debt | HGV Securitized Debt with a weighted average rate of 2.711%, due 2028
Debt Instrument [Line Items]
Long-term debt, gross	[4]	62	70
Secured Debt | HGV Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Long-term debt, gross	[4]	131	143
Secured Debt | HGV Securitized Debt with a weighted average rate of 2.431%, due 2033
Debt Instrument [Line Items]
Long-term debt, gross	[4]	136	151
Secured Debt | HGV Securitized Debt with a weighted average rate of 3.658%, due 2039
Debt Instrument [Line Items]
Long-term debt, gross	[4]	180	193
Secured Debt | Diamond Resorts Premium Yield Facility with an average rate of 4.766%, due 2031
Debt Instrument [Line Items]
Long-term debt, gross	[4]	7	8
Secured Debt | Diamond Resorts Conduit Facility with an Average Rate of 2.250% due 2023
Debt Instrument [Line Items]
Long-term debt, gross	[4]	125	125
Secured Debt | Diamond Resorts Conduit Facility with an Average Rate of 3.000% due 2024
Debt Instrument [Line Items]
Long-term debt, gross		0	8	[4]
Secured Debt | Diamond Resorts Owner Trust 2019 with a weighted average rate of 3.277%, due 2032
Debt Instrument [Line Items]
Long-term debt, gross	[4]	127	148
Secured Debt | Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2032
Debt Instrument [Line Items]
Long-term debt, gross	[4]	$ 198	$ 224
[1]	(1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively.
[2]	(2) Amount includes unamortized deferred financing costs related to our term loan and senior notes of $ 31 million and $ 22 million, respectively, as of March 31, 2022 and $ 33 million and $ 22 million, respectively, as of December 31, 2021. This amount also includes unamortized original issuance discounts of $ 6 million as of March 31, 2022 and December 31, 2021 .
[3]	(3) Amount does not include unamortized deferred financing costs of $ 5 million as of March 31, 2022 and December 31, 2021 related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets.
[4]	As of March 31, 2022 and December 31, 2021, weighted-average interest rates were 2.873 % and 2.876 %, respectively.
[5]	Amount relates to Securitized Debt only and does not include unamortized deferred financing costs of $ 2 million and $ 2 million as of March 31, 2022 and December 31, 2021, 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		3 Months Ended	12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, average interest rate		4.088%	4.052%
Less: unamortized deferred financing costs and discount	[1],[2]	$ (59)	$ (61)
Debt issuance discounts		$ 6	6
HGV Securitized Debt with a weighted average rate of 2.711%, due 2028
Debt Instrument [Line Items]
Debt instrument, maturity year		2028
HGV Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Debt instrument, maturity year		2032
HGV Securitized Debt with a weighted average rate of 2.431%, due 2033
Debt Instrument [Line Items]
Debt instrument, maturity year		2033
Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (5)	(5)
Revolving Credit Facility | Timeshare Facility with an average rate of 2.20%, due 2023
Debt Instrument [Line Items]
Debt instrument, maturity year		2023
Line of Credit
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (31)	(33)
Line of Credit | Term loan with a rate of 3.50%, due 2028
Debt Instrument [Line Items]
Debt instrument, maturity year		2028
Debt instrument, stated interest rate		3.50%
Line of Credit | Revolver with a rate of 2.47%, , due 2026
Debt Instrument [Line Items]
Debt instrument, stated interest rate		2.47%
Senior Notes
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount		$ (22)	(22)
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt instrument, maturity year		2029
Debt instrument, stated interest rate		5.00%
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Debt instrument, maturity year		2031
Debt instrument, stated interest rate		4.875%
Senior Notes | HGV Securitized Debt with a weighted average rate of 3.658%, due 2039
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.658%
Debt instrument, maturity year		2039
Senior Notes | Diamond Resorts Conduit Facility with an Average Rate of 3.000% due 2024
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.00%
Senior Notes | Diamond Resorts Owner Trust 2017 with a weighted average rate of 3.504%, due 2029
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.504%
Debt instrument, maturity year		2029
Senior Notes | Diamond Resorts Owner Trust 2018 with a weighted average rate of 4.061%, due 2031
Debt Instrument [Line Items]
Debt instrument, average interest rate		4.061%
Debt instrument, maturity year		2031
Senior Notes | Timeshare Facility with an average rate of X.XXX%, due 2022
Debt Instrument [Line Items]
Less: unamortized deferred financing costs and discount			$ (2)
Debt issuance discounts		$ 2
Secured Debt
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.873%	2.876%
Less: unamortized deferred financing costs and discount	[3]	$ (5)	$ (6)
Secured Debt | Timeshare Facility with an average rate of 2.20%, due 2023
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.20%
Secured Debt | HGV Securitized Debt with a weighted average rate of 2.711%, due 2028
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.711%
Secured Debt | HGV Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.602%
Secured Debt | HGV Securitized Debt with a weighted average rate of 2.431%, due 2033
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.431%
Secured Debt | Diamond Resorts Premium Yield Facility with an average rate of 4.766%, due 2031
Debt Instrument [Line Items]
Debt instrument, average interest rate		4.766%
Debt instrument, maturity year		2031
Secured Debt | Diamond Resorts Conduit Facility with an Average Rate of 2.250% due 2023
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.25%
Debt instrument, maturity year		2023
Secured Debt | Diamond Resorts Conduit Facility with an Average Rate of 3.000% due 2024
Debt Instrument [Line Items]
Debt instrument, maturity year		2024
Secured Debt | Diamond Resorts Owner Trust 2019 with a weighted average rate of 3.277%, due 2032
Debt Instrument [Line Items]
Debt instrument, average interest rate		3.277%
Debt instrument, maturity year		2032
Secured Debt | Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2032
Debt Instrument [Line Items]
Debt instrument, average interest rate		2.16%
Debt instrument, maturity year		2032
[1]	(2) Amount includes unamortized deferred financing costs related to our term loan and senior notes of $ 31 million and $ 22 million, respectively, as of March 31, 2022 and $ 33 million and $ 22 million, respectively, as of December 31, 2021. This amount also includes unamortized original issuance discounts of $ 6 million as of March 31, 2022 and December 31, 2021 .
[2]	(3) Amount does not include unamortized deferred financing costs of $ 5 million as of March 31, 2022 and December 31, 2021 related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets.
[3]	Amount relates to Securitized Debt only and does not include unamortized deferred financing costs of $ 2 million and $ 2 million as of March 31, 2022 and December 31, 2021, respectively, relating to our Timeshare Facility included in Other Assets in our unaudited condensed consolidated balance sheets.

Debt & Non-recourse Debt - Sc_3

Debt & Non-recourse Debt - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Derivative instrument adjustments	$ 22	$ 0
Net unrealized gain on derivative instruments
Debt Instrument [Line Items]
Balance as of December 31, 2021	2
Derivative instrument adjustments	21
Reclassification to net income	1
Balance as of March 31, 2022	$ 24

Debt & Non-recourse Debt - Addi

Debt & Non-recourse Debt - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Debt issuance costs	[1],[2]	$ 59		$ 61
Amortization of deferred financing costs, acquisition premiums and other		12	$ 6
Debt agreement, principle amount	[3]	2,972		2,974
Interest Paid, Discontinued Operations		165
Debt issuance discounts		6		6
Accumulated other comprehensive loss, Qualifying as hedge		32		2
Term loan outstanding		550
Restricted cash		303		263
Reserves related to non-recourse debt
Debt Instrument [Line Items]
Restricted cash	[4]	66		67
Timeshare Facility
Debt Instrument [Line Items]
Term loan outstanding		450
Senior notes with a rate of 6.125%, due 2024
Debt Instrument [Line Items]
Remaining borrowing capacity		150
Term Loans Due 2028
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 125
LIBOR
Debt Instrument [Line Items]
Interest rate on revolving credit facility description		Such interest rate swaps converted the LIBOR based variable rates on our Revolver and Term Loan to average fixed rates of 0.53 percent per annum with maturities in 2023 and 1.58 percent with maturities between 2023 and 2028, respectively, for the balance on these borrowings up to the notional values of our interest rate swaps.
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs		$ 22		22
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 850		850
Debt instrument, stated interest rate		5.00%
Senior Notes | Senior notes with a rate of 4.875% due 2031
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 500		500
Debt instrument, stated interest rate		4.875%
Line of Credit
Debt Instrument [Line Items]
Debt issuance costs		$ 31		33
Line of Credit | Term loan with a rate of 3.50%, due 2028
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 1,294		1,297
Debt instrument, stated interest rate		3.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs		$ 5		5
Revolving Credit Facility | Revolver with a rate of 2.47%, due 2026
Debt Instrument [Line Items]
Debt agreement, principle amount		$ 300		$ 300
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Derivative fixed interest rate		1.58%
Revolving Credit Facility | Senior Secured Credit Facilities
Debt Instrument [Line Items]
Debt instrument repaid amount		$ 3
Letters of credit outstanding, amount		$ 1
Term Loan | LIBOR
Debt Instrument [Line Items]
Derivative fixed interest rate		0.53%
Cash Collateral Secured Credit Facilities
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 2
[1]	(2) Amount includes unamortized deferred financing costs related to our term loan and senior notes of $ 31 million and $ 22 million, respectively, as of March 31, 2022 and $ 33 million and $ 22 million, respectively, as of December 31, 2021. This amount also includes unamortized original issuance discounts of $ 6 million as of March 31, 2022 and December 31, 2021 .
[2]	(3) Amount does not include unamortized deferred financing costs of $ 5 million as of March 31, 2022 and December 31, 2021 related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets.
[3]	(1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively.
[4]	(1) See Note 13: Debt & Non-recourse Debt for further discussion.

Debt & Non-recourse Debt - Sc_4

Debt & Non-recourse Debt - Schedule of Contractual Maturities of Debt (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2022 (remaining)		$ 12
2023		15
2024		14
2025		13
2026		313
Thereafter		2,605
Long-term debt	[1]	2,972	$ 2,974
Secured Debt
Debt Instrument [Line Items]
2022 (remaining)		355
2023		562
2024		88
2025		138
2026		38
Thereafter		27
Long-term debt	[2]	1,208	$ 1,334
Debt and Non-recourse Debt
Debt Instrument [Line Items]
2022 (remaining)		367
2023		577
2024		102
2025		151
2026		351
Thereafter		2,632
Long-term debt		$ 4,180
[1]	(1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively.
[2]	As of March 31, 2022 and December 31, 2021, weighted-average interest rates were 2.873 % and 2.876 %, respectively.

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying and Estimated Fair Value Amounts (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Assets:
Timeshare financing receivables, net	[1]	$ 1,718	$ 1,747
Liabilities:
Debt, net	[2]	2,913	2,913
Non-recourse debt, net	[2]	1,203	1,328
Level 1
Assets:
Timeshare financing receivables, net	[1]	0	0
Liabilities:
Debt, net	[2]	2,564	2,663
Non-recourse debt, net	[2]	905	1,080
Level 3
Assets:
Timeshare financing receivables, net	[1]	1,836	1,905
Liabilities:
Debt, net	[2]	338	340
Non-recourse debt, net	[2]	$ 291	$ 270
[1]	Carrying amount net of allowance for financing receivables losses.
[2]	Carrying amount net of unamortized deferred financing costs and discount.

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets And Related Amortization Expense (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	$ 1,641	$ 1,635
Less: accumulated amortization	(241)	(194)
Finite-Lived Intangible Assets, Net, Total	1,400	1,441
Trade name
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	18	18
Less: accumulated amortization	(8)	(5)
Finite-Lived Intangible Assets, Net, Total	10	13
Management contracts
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	1,340	1,340
Less: accumulated amortization	(137)	(106)
Finite-Lived Intangible Assets, Net, Total	1,203	1,234
Club member relationships
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	139	139
Less: accumulated amortization	(18)	(12)
Finite-Lived Intangible Assets, Net, Total	121	127
Capitalized Software [Member]
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	144	138
Less: accumulated amortization	(78)	(71)
Finite-Lived Intangible Assets, Net, Total	$ 66	$ 67

Intangible Assets (Additional I

Intangible Assets (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Amortization expense on intangible assets	$ 48	$ 4
Diamond Acquisition
Restructuring Cost and Reserve [Line Items]
Acquired definite-lived intangible assets	$ 1,431

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Leases starting expiration date	2022
Leases ending expiration date	2030
Impairment on right of use assets	$ 3
Rent expense	7	$ 4
Short-term and variable lease costs	$ 1	$ 1

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 7	$ 5
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$ 2	$ 0

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Details)	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term of operating leases (in years)	4 years	4 years
Weighted-average discount rate of operating leases	4.31%	4.35%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (remaining)	$ 20
2023	26
2024	18
2025	15
2026	9
Thereafter	6
Total future minimum lease payments	94
Less: imputed interest	(9)
Present value of lease liabilities	$ 85	$ 87

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	28.00%	46.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share-based compensation expense	$ 11	$ 4
Unrecognized compensation costs for unvested awards	$ 72
Unrecognized compensation costs, weighted average period for recognition	1 year 10 months 24 days
Shares of common stock available for future issuance	2,679,077
Grant date fair value (in dollars per share)	$ 20.08
Stock options exercisable (in shares)	1,547,979
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
Compensation expense related to ESPP	$ 1
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%
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)	93,064
Grant date fair value (in dollars per share)	$ 44.09
Award vesting period	2 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)	750,653
Grant date fair value (in dollars per share)	$ 44.09
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)	389,536
Exercise price (in dollars per share)	$ 44.09
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)	3 Months Ended
	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	45.80%
Risk-free rate	1.70%
Expected term (in years)	6 years

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Share, Basic and Diluted (Details) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income (loss)	[1]	$ 50,768,844	$ (6,771,415)
Denominator:
Weighted average shares outstanding, Basic		119,980,766	85,307,705
Basic EPS		$ 0.42	$ (0.08)
Denominator:
Weighted average shares outstanding, diluted		121,844,837	85,307,705
Diluted EPS		$ 0.42	$ (0.08)
Basic EPS		119,980,766	85,307,705
Diluted EPS		121,844,837	85,307,705
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

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
		Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income (loss)	[1]	$ 50,768,844	$ (6,771,415)
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares outstanding, Basic	119,980,766	85,307,705
Weighted average shares outstanding, diluted	121,844,837	85,307,705
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares		943,373
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	338,109	638,050

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from related parties	$ 20	$ 20
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
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Equity in earnings (losses) from unconsolidated affiliates	$ 3	$ 2
BRE Ace LLC
Related Party Transaction [Line Items]
Equity in earnings (losses) from unconsolidated affiliates	3	2
Commissions and other fees	$ 33	$ 13

Business Segments - Additional

Business Segments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Segment
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
		Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		$ 779	$ 235
Real Estate and Financing Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		452	123
Resort Operations and Club Management Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		261	77
Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		720	203
Operating segments | Real Estate and Financing Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		452	123
Operating segments | Resort Operations and Club Management Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		268	80
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		66	35
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	[1]	$ (7)	$ (3)
[1]	(1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $ 7 million and $ 3 million for the three months ended March 31, 2022 and 2021 , respectively.

Business Segments - Schedule _2

Business Segments - Schedule of Segment Operating Performance Reconciled to Consolidated Amounts (Parenthetical) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		$ 779	$ 235
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	[1]	(7)	(3)
Intersegment eliminations | Maximum
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental expense for model units		1	1
Intersegment eliminations | Billing and Collection Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		$ 7	$ 3
[1]	(1) Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $ 7 million and $ 3 million for the three months ended March 31, 2022 and 2021 , respectively.

Business Segments - Schedule _3

Business Segments - Schedule of Adjusted EBITDA Reconciled to Net (Loss) Income (Details) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
General and administrative		$ (42,000,000)	$ (21,000,000)
Depreciation and amortization		(60,000,000)	(11,000,000)
Other (loss) gain, net		1,000,000	(1,000,000)
Interest expense		(33,000,000)	(15,000,000)
Income tax (expense) benefit		(20,000,000)	6,000,000
Equity in earnings (losses) from unconsolidated affiliates		3,000,000	2,000,000
Impairment expense		(3,000,000)	(1,000,000)
Net income (Loss)	[1]	50,768,844	(6,771,415)
Operating segments | Real Estate and Financing Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	[2]	153,000,000	27,000,000
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	[2]	101,000,000	42,000,000
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA		254,000,000	69,000,000
Acquisition and integration-related expense		(13,000,000)	(15,000,000)
General and administrative		(42,000,000)	(21,000,000)
Depreciation and amortization		(60,000,000)	(11,000,000)
License fee expense		(25,000,000)	(14,000,000)
Other (loss) gain, net		1,000,000	(1,000,000)
Interest expense		(33,000,000)	(15,000,000)
Income tax (expense) benefit		(20,000,000)	6,000,000
Equity in earnings (losses) from unconsolidated affiliates		3,000,000	2,000,000
Impairment expense		(3,000,000)	(1,000,000)
Other adjustment items	[3]	(11,000,000)	(6,000,000)
Net income (Loss)		$ 51,000,000	$ (7,000,000)
[1]	Net income (loss) for the three months ended March 31, 2022 and 2021 was $ 50,768,844 and $( 6,771,415 ), respectively.
[2]	(1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion.
[3]	(2) For the three months ended March 31, 2022 and 2021, 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 ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Long-term Purchase Commitment [Line Items]
Reasonably estimable of possible losses	$ 117	$ 117
Accounts receivable, net of allowances	447	447		$ 302
Diamond Acquisition
Long-term Purchase Commitment [Line Items]
Adjustments of accrued liabilities		24
Damages sought	92
Insurance Claims
Long-term Purchase Commitment [Line Items]
Accounts receivable, net of allowances	$ 92	92
Inventories
Long-term Purchase Commitment [Line Items]
Purchase commitment		$ 329
Purchase commitment, period (in years)		9 years
Vacation ownership intervals commitment			$ 1
Other Commitments
Long-term Purchase Commitment [Line Items]
Purchase commitment		$ 15

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Remaining Purchase Obligations (Details) $ in Millions	Mar. 31, 2022USD ($)
Long-term Purchase Commitment [Line Items]
2022 (remaining)	$ 69
2023	220
2024	40
2025	3
2026	3
Thereafter	9
Total	344
Inventory Purchase Obligations
Long-term Purchase Commitment [Line Items]
2022 (remaining)	59
2023	215
2024	40
2025	3
2026	3
Thereafter	9
Total	329
Other Commitments
Long-term Purchase Commitment [Line Items]
2022 (remaining)	10	[1]
2023	5	[1]
2024	0	[1]
2025	0	[1]
2026	0	[1]
Thereafter	0	[1]
Total	$ 15	[1]
[1]	Primarily relates to commitments related to information technology and sponsorships.

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - USD ($) $ in Millions		May 04, 2022	May 03, 2022	Apr. 21, 2022	Mar. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Debt agreement, principle amount	[1]				$ 2,972	$ 2,974
Subsequent Event
Subsequent Event [Line Items]
Payments for repurchase of common stock		$ 500
Subsequent Event | Timeshare Facility
Subsequent Event [Line Items]
Debt agreement, principle amount				$ 246
Subsequent Event | Timeshare Facility | Maximum
Subsequent Event [Line Items]
Weighted average interest rate				95.00%
Increase borrowing capacity			$ 750
Subsequent Event | Timeshare Facility | Minimum
Subsequent Event [Line Items]
Weighted average interest rate				4.30%
Increase borrowing capacity			$ 450
Subsequent Event | Purchase and Sales Agreement | Conduit Facility Due In Two Thousand Twenty Four
Subsequent Event [Line Items]
Debt agreement, principle amount				$ 115
Conduit Facility Due Date			2025
[1]	(1) As of March 31, 2022 and December 31, 2021 , weighted-average interest rates were 4.088 % and 4.052 %, respectively.