UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 13, 2017
Hilton Grand Vacations Inc.
(Exact Name of Registrant as Specified in its Charter)
| | | | |
| Delaware | | 001-37794 | | 81-2545345 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | |
6355 MetroWest Boulevard, Suite 180 Orlando, Florida | | 32835 |
| (Address of principal executive offices) | | (Zip Code) |
(407)722-3100
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On November 13, 2017, Hilton Grand Vacations Inc. (the “Company”) issued a press release announcing that it had entered into an agreement with Mori Trust to construct a new mixed-used development on Sesokojima Island, Okinawa in Japan. As previously disclosed, this marks the Company’s first timeshare project in Japan. Thenew-build development, to be constructed by Mori Trust, will comprise a132-unit timeshare resort that will be owned and managed by the Company, as well as a300-room hotel that will be owned by Mori Trust and managed by Hilton Worldwide Holdings Inc. The hotel component is set to open in 2020, while the Company’s timeshare resort is expected to commence operations in 2021. Subject to the satisfaction of certain conditions and milestones, the Company expects to make an aggregate investment of up to approximately $187.0 million in phases over four years commencing in 2021 in connection with this timeshare resort.
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form8-K and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| | |
Exhibit No. | | Description |
| |
| Exhibit 99.1 | | Press release, dated November 13, 2017. |
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | |
| HILTON GRAND VACATIONS INC. |
| |
| By: | | /s/ Charles R. Corbin |
| | Charles R. Corbin |
| | Executive Vice President and General Counsel |
Date: November 13, 2017
