Hilton Grand Vacations (HGV) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-37794
Entity Registrant Name	Hilton Grand Vacations Inc.
Entity Incorporation, State or Country Code	DE
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
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	HGV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		101,498,544
Entity Central Index Key	0001674168
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 328	$ 589
Restricted cash	273	296
Accounts receivable, net	524	507
Timeshare financing receivables, net	2,976	2,113
Inventory	1,929	1,400
Property and equipment, net	902	758
Operating lease right-of-use assets, net	84	61
Investments in unconsolidated affiliates	78	71
Goodwill	1,933	1,418
Intangible assets, net	1,887	1,158
Other assets	553	314
TOTAL ASSETS (variable interest entities - $1,616 and $1,459)	11,467	8,685
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	1,159	952
Advanced deposits	224	179
Debt, net	4,885	3,049
Non-recourse debt, net	1,725	1,466
Operating lease liabilities	101	78
Deferred revenue	321	215
Deferred income tax liabilities	972	631
Total liabilities (variable interest entities - $1,708 and $1,472)	9,387	6,570
Commitments and contingencies - see Note 18
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of June 30, 2024 and December 31, 2023	0	0
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 102,485,583 shares issued and outstanding as of June 30, 2024 and 105,961,160 shares issued and outstanding as of December 31, 2023	1	1
Additional paid-in capital	1,456	1,504
Accumulated retained earnings	456	593
Accumulated other comprehensive income	5	17
Total stockholders' equity	1,918	2,115
Noncontrolling interest	162	0
Total equity	2,080	2,115
TOTAL LIABILITIES AND EQUITY	$ 11,467	$ 8,685

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Total assets	$ 11,467	$ 8,685
Total liabilities	$ 9,387	$ 6,570
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	300,000,000	300,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	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)	102,485,583	105,961,160
Common stock, shares outstanding (in shares)	102,485,583	105,961,160
Variable Interest Entities
Total assets	$ 1,616	$ 1,459
Total liabilities	$ 1,708	$ 1,472

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Total revenues	$ 1,235	$ 1,007	$ 2,391	$ 1,941
Expenses
General and administrative	58	48	103	90
Depreciation and amortization	68	52	130	103
Impairment expense	0	3	2	3
Total operating expenses	1,141	853	2,231	1,657
Interest expense	(87)	(44)	(166)	(88)
Equity in earnings from unconsolidated affiliates	3	2	8	5
Other (loss) gain, net	(3)	3	(8)	4
Income (loss) before income taxes	7	115	(6)	205
Income tax (expense) benefit	(3)	(35)	8	(52)
Net income	4	80	2	153
Net income attributable to noncontrolling interest	2	0	4	0
Net income (loss) attributable to stockholders	$ 2	$ 80	$ (2)	$ 153
Earnings (loss) per share attributable to stockholders:
Basic (in dollars per share)	$ 0.02	$ 0.72	$ (0.02)	$ 1.37
Diluted (in dollars per share)	$ 0.02	$ 0.71	$ (0.02)	$ 1.35
Sales of VOIs, net
Revenues
Total revenues	$ 471	$ 355	$ 909	$ 673
Sales, marketing, brand and other fees
Revenues
Total revenues	167	173	312	331
Financing
Revenues
Total revenues	102	76	206	150
Expenses
Expenses	44	24	83	48
Resort and club management
Revenues
Total revenues	171	133	337	264
Expenses
Expenses	48	44	102	86
Rental and ancillary services
Revenues
Total revenues	195	173	376	331
Expenses
Expenses	188	154	361	306
Cost reimbursements
Revenues
Total revenues	129	97	251	192
Expenses
Expenses	129	97	251	192
Cost of VOI sales
Expenses
Expenses	65	48	113	98
Sales and marketing
Expenses
Expenses	453	336	854	637
Acquisition and integration-related expense
Expenses
Expenses	48	13	157	30
License fee expense
Expenses
Expenses	$ 40	$ 34	$ 75	$ 64

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 4	$ 80	$ 2	$ 153
Derivative instrument adjustments, net of tax	(1)	5	3	(5)
Foreign currency translation adjustments	(9)	(10)	(15)	(10)
Other comprehensive loss, net of tax	(10)	(5)	(12)	(15)
Comprehensive income attributable to noncontrolling interest	2	0	4	0
Comprehensive (loss) income attributable to stockholders	$ (8)	$ 75	$ (14)	$ 138

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net income	$ 2	$ 153
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	130	103
Amortization of deferred financing costs, acquisition premiums and other	63	14
Provision for financing receivables losses	159	71
Impairment expense	2	3
Other loss (gain), net	8	(4)
Share-based compensation	27	26
Equity in earnings from unconsolidated affiliates	(8)	(5)
Return on investment in unconsolidated affiliates	0	6
Net changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	15	26
Timeshare financing receivables, net	(196)	(96)
Inventory	(31)	(67)
Purchases and development of real estate for future conversion to inventory	(50)	(6)
Other assets	(154)	(134)
Accounts payable, accrued expenses and other	55	32
Advanced deposits	5	35
Deferred revenue	86	63
Net cash provided by operating activities	113	220
Investing Activities
Acquisitions, net of cash, cash equivalents and restricted cash acquired	(1,444)	0
Capital expenditures for property and equipment (excluding inventory)	(17)	(9)
Software capitalization costs	(20)	(16)
Other	(1)	0
Net cash used in investing activities	(1,482)	(25)
Financing Activities
Proceeds from debt	2,085	438
Proceeds from non-recourse debt	905	175
Repayment of debt	(397)	(157)
Repayment of non-recourse debt	(1,231)	(397)
Payment of debt issuance costs	(51)	0
Repurchase and retirement of common stock	(199)	(206)
Payment of withholding taxes on vesting of restricted stock units	(21)	(14)
Proceeds from employee stock plan purchases	5	4
Proceeds from stock option exercises	7	7
Other	(2)	(2)
Net cash provided by (used in) financing activities	1,101	(152)
Effect of changes in exchange rates on cash, cash equivalents & restricted cash	(16)	(10)
Net (decrease) increase in cash, cash equivalents and restricted cash	(284)	33
Cash, cash equivalents and restricted cash, beginning of period	885	555
Cash, cash equivalents and restricted cash, end of period	601	588
Less: Restricted cash	273	336
Cash and cash equivalents	$ 328	$ 252

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Retained Earnings	Accumulated Other Comprehensive Income	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022		113,000,000
Beginning balance, value at Dec. 31, 2022	$ 2,151	$ 1	$ 1,582	$ 529	$ 39	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	73			73
Activity related to share-based compensation (in shares)		1,000,000
Activity related to share-based compensation	3		3
Derivative instrument adjustments, net of tax	(10)				(10)
Repurchase and retirement of common stock (in shares)		(2,000,000)
Repurchase and retirement of common stock	(85)		(26)	(59)
Ending balance (in shares) at Mar. 31, 2023		112,000,000
Ending balance, value at Mar. 31, 2023	2,132	$ 1	1,559	543	29	0
Beginning balance (in shares) at Dec. 31, 2022		113,000,000
Beginning balance, value at Dec. 31, 2022	2,151	$ 1	1,582	529	39	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustments	(10)
Ending balance (in shares) at Jun. 30, 2023		109,000,000
Ending balance, value at Jun. 30, 2023	2,105	$ 1	1,541	539	24	0
Beginning balance (in shares) at Mar. 31, 2023		112,000,000
Beginning balance, value at Mar. 31, 2023	2,132	$ 1	1,559	543	29	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	80			80
Activity related to share-based compensation	16		16
Employee stock plan issuance	4		4
Foreign currency translation adjustments	(10)				(10)
Derivative instrument adjustments, net of tax	5				5
Repurchase and retirement of common stock (in shares)		(3,000,000)
Repurchase and retirement of common stock	(122)		(38)	(84)
Ending balance (in shares) at Jun. 30, 2023		109,000,000
Ending balance, value at Jun. 30, 2023	$ 2,105	$ 1	1,541	539	24	0
Beginning balance (in shares) at Dec. 31, 2023	105,961,160	106,000,000
Beginning balance, value at Dec. 31, 2023	$ 2,115	$ 1	1,504	593	17	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of third-party equity interest in consolidated entity	158					158
Net (loss) income	(2)			(4)		2
Activity related to share-based compensation (in shares)		1,000,000
Activity related to share-based compensation	(4)		(4)
Foreign currency translation adjustments	(6)				(6)
Derivative instrument adjustments, net of tax	4				4
Repurchase and retirement of common stock (in shares)		(2,000,000)
Repurchase and retirement of common stock	(101)		(33)	(68)
Ending balance (in shares) at Mar. 31, 2024		105,000,000
Ending balance, value at Mar. 31, 2024	$ 2,164	$ 1	1,467	521	15	160
Beginning balance (in shares) at Dec. 31, 2023	105,961,160	106,000,000
Beginning balance, value at Dec. 31, 2023	$ 2,115	$ 1	1,504	593	17	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustments	$ (15)
Ending balance (in shares) at Jun. 30, 2024	102,485,583	102,000,000
Ending balance, value at Jun. 30, 2024	$ 2,080	$ 1	1,456	456	5	162
Beginning balance (in shares) at Mar. 31, 2024		105,000,000
Beginning balance, value at Mar. 31, 2024	2,164	$ 1	1,467	521	15	160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	4			2		2
Activity related to share-based compensation	17		17
Employee stock plan issuance	5		5
Foreign currency translation adjustments	(9)				(9)
Derivative instrument adjustments, net of tax	(1)				(1)
Repurchase and retirement of common stock (in shares)		(3,000,000)
Repurchase and retirement of common stock	$ (100)		(33)	(67)
Ending balance (in shares) at Jun. 30, 2024	102,485,583	102,000,000
Ending balance, value at Jun. 30, 2024	$ 2,080	$ 1	$ 1,456	$ 456	$ 5	$ 162

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	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, managing and operating timeshare resorts, timeshare plans and ancillary reservation services, primarily under the Hilton Grand Vacations brands. On January 17, 2024 (“Bluegreen Acquisition Date”), we completed the acquisition of Bluegreen Vacations Holding Corporation (“Bluegreen”) (the “Bluegreen Acquisition”). Our operations primarily consist of selling vacation ownership intervals and vacation ownership interests (collectively, “VOIs” or “VOI”) for us and third parties; financing and servicing loans provided to consumers for their timeshare purchases; operating resorts and timeshare plans; and managing our clubs and exchange programs that include HGV Max, Hilton Grand Vacations Club and Hilton Club, Diamond clubs and Bluegreen Vacation Club (collectively referred to as “Clubs”). As of June 30, 2024, we had approximately 200 properties located in the United States (“U.S.”), Europe, Mexico, the Caribbean, Canada and Asia. A significant number of our properties and VOIs are concentrated in Florida, Europe, Hawaii, California, Arizona, Nevada, South Carolina and Virginia, inclusive of the new locations we have expanded into through the Bluegreen Acquisition. We are in the process of rebranding many of the Diamond properties and anticipate rebranding the majority of Bluegreen properties and sales centers. We expect to begin rebranding certain Bluegreen properties during the fourth quarter of 2024 to the Hilton Grand Vacations brands and Hilton standards. Basis of Presentation The unaudited condensed consolidated financial statements presented herein include all of our assets, liabilities, revenues, expenses and cash flows as well as all entities in which we have a controlling financial interest. 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% of the voting shares of a company or otherwise have a controlling financial interest, including Bluegreen/Big Cedar Vacations LLC, a joint venture in which HGV is deemed to hold a controlling financial interest based on its 51% equity interest (“Big Cedar”), its active role as the day-to-day manager of its activities, and majority voting control of its management committee. HGV acquired its equity interest in Big Cedar as part of the Bluegreen Acquisition. All material intercompany transactions and balances have been eliminated in consolidation. Our accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation. 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, 2023, included in our Annual Report on Form 10-K filed with the SEC on February 29, 2024. Use of Estimates 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Noncontrolling Interest Noncontrolling interest reflects a third party’s ownership interest in Big Cedar that is consolidated in our unaudited condensed consolidated financial statements but is less than 100% owned by HGV. The noncontrolling interest is recognized as equity in our unaudited condensed consolidated balance sheet and presented separately from the equity attributable to stockholders. The amounts of consolidated net income and comprehensive income attributable to stockholders and noncontrolling interest are separately presented in the unaudited condensed consolidated statements of operations and comprehensive income. Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 provides amendments to improve reportable segment disclosure requirements both on an interim and annual basis, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of ASU 2023-07 is expected to impact disclosures only and not have a material impact on our consolidated financial statements or results. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 states that an entity must provide greater disaggregation of its effective tax rate reconciliation disclosure. The ASU also states that an entity must separately disclose net cash taxes paid between federal, state, and foreign jurisdictions. The guidance is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The guidance is to be applied prospectively, although retrospective application is permitted. The adoption of ASU 2023-09 is expected to impact disclosures only and not have a material impact on our consolidated financial statements or results.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS Bluegreen Acquisition On January 17, 2024, we completed the Bluegreen Acquisition in an all-cash transaction, with total consideration of approximately $1.6 billion. The Bluegreen Acquisition is expected to broaden HGV’s offerings, customer reach and sales locations. Costs related to the Bluegreen Acquisition were $37 million and $137 million during the three and six months ended June 30, 2024. These costs were expensed as incurred and included within Acquisition and integration-related expense in our unaudited condensed consolidated statements of operations. The following table presents the preliminary fair value of each class of consideration transferred in relation to the Bluegreen Acquisition as of the Bluegreen Acquisition Date: ($ in millions, except share and per share data) Number of Class A Shares issued and outstanding 12,504,138 Number of Class B Shares issued and outstanding 3,664,117 Number of Class A shares deliverable as equity awards 673,169 Total shares and related equity awards outstanding 16,841,424 Cash consideration to Bluegreen shareholders and equity award holders per share $ 75.00 Purchase price $ 1,263 Repayment of Bluegreen Debt (1) 265 Payment of Seller Transaction Fees (2) 28 Total Consideration Transferred $ 1,556 (1) Reflects the balance of Bluegreen’s debt repaid by HGV. (2) Reflects transaction-related expenses incurred by Bluegreen but paid by HGV. Preliminary Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest We accounted for the Bluegreen Acquisition as a business combination, which requires us to record the assets acquired, liabilities assumed and noncontrolling interest at fair value as of the Bluegreen Acquisition Date. The preliminary fair values of the assets acquired, liabilities assumed, and noncontrolling interest, 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 Bluegreen. Our estimates and assumptions are subject to change during the measurement period, not to exceed one year from the Bluegreen Acquisition Date. The magnitude of the Bluegreen 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, liability and noncontrolling interest fair values as of the Bluegreen 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 discussed more fully below, 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 (including key assumptions, inputs and estimates) and assigning the useful lives to such assets; (2) finalizing the review and valuation of acquired inventory, property and equipment (including key assumptions, inputs and estimates) and assigning the remaining useful lives to the depreciable assets; (3) finalizing the review and valuation of acquired timeshare financing receivables (including key assumptions, inputs and estimates); (4) finalizing the valuation of certain in-place contracts or contractual relationships (including but not limited to leases), including determining the appropriate amortization periods; (5) finalizing the review and valuation of other acquired assets, assumed liabilities, including debt assumed, and noncontrolling interest; and (6) finalizing our estimate of the impact of purchase accounting on deferred income tax liabilities. ($ in millions) Preliminary Amounts Recognized as of the Bluegreen Acquisition Date Assets acquired Cash and cash equivalents $ 71 Restricted cash 44 Accounts receivable 32 Timeshare financing receivables, net 914 Inventory 372 Property and equipment 180 Investment in unconsolidated affiliates 3 Operating lease right-of-use assets 19 Intangible assets 812 Other assets 85 Total assets acquired 2,532 Liabilities assumed Accounts payable, accrued expenses and other 143 Advanced deposits 40 Debt 162 Non-recourse debt 606 Operating lease liabilities 20 Deferred revenue 19 Deferred income tax liabilities 341 Total liabilities assumed 1,331 Net assets acquired $ 1,201 Total consideration transferred $ 1,556 Less: Net assets acquired (1,201) Plus: Noncontrolling interest 158 Goodwill (1) $ 513 (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 measurement period adjustments recorded during the quarter ended June 30, 2024 resulted from changes to our estimates of the fair value of the acquired assets and assumed liabilities based on management’s review of the historical accounting records and third-party valuations. The measurement period adjustments recognized include a reduction to timeshare financing receivables and an increase to inventory based on management's review of key assumptions and historical performance of the acquired portfolio, and an increase in accrued liabilities resulting from identification of certain costs associated to the period prior to the Bluegreen Acquisition Date. These resulted in a net adjustment to goodwill for the period of $(10) million, net of tax impacts of adjustments. The prior period net income effect associated with the measurement period adjustments recorded during the six months ended June 30, 2024 were immaterial. Timeshare Financing Receivables We acquired timeshare financing receivables, net which consist of loans to customers who purchased vacation ownership products and chose to finance their purchases. These timeshare financing receivables, net are collateralized by the underlying VOIs and generally have 10-year amortizing repayment terms. We preliminarily estimated the fair value of the timeshare financing receivables using a discounted cash flow model, which calculated a present value of expected future risk-adjusted cash flows over the remaining term of the respective timeshare financing receivables. We are continuing to evaluate the significant assumptions underlying the discounted cash flow model including default severity and prepayment assumptions, which could result in changes to our preliminary estimate. We have determined that the entire acquired timeshare financing receivables portfolio shows evidence of more-than-insignificant deterioration in credit quality since origination. See Note 6: Timeshare Financing Receivables, net for additional information. Acquired timeshare financing receivables with credit deterioration as of the Bluegreen Acquisition Date were as follows: ($ in millions) As of Purchase price $ 914 Allowance for credit losses 197 Premium attributable to other factors (152) Par value $ 959 Inventory We acquired inventory which primarily consists of completed unsold VOIs. We preliminarily estimated the fair 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 and other factors impacting the discounted cash flows. We are continuing to assess the market assumptions and property conditions as of the Bluegreen Acquisition Date, which could result in changes to these preliminary values. Property and Equipment We acquired property and equipment, which includes land, buildings and improvements, leasehold improvements, computer hardware and software, furniture, fixtures, and office equipment, machinery and equipment, vehicles, construction in progress, and other assets. For our preliminary analysis, we estimated the fair value of the property and equipment using a mix of cost and market approaches. In determining the fair value using the cost approach, we estimated the reproduction cost by applying inflation trending indices to the historical capitalized costs within the fixed asset details. We also relied on the market approach to determine the fair value of certain assets. In applying the market approach to value, we relied on the percent of cost method. In addition, certain property and equipment assets were held at their carrying value, which is our best estimate of fair value at this time given the information available. We are continuing to assess the market assumptions and property conditions as of the Bluegreen Acquisition Date, which could result in changes to these preliminary values. Operating Lease Right-of-Use-Assets and Lease Liabilities We have recorded a preliminary estimate of the liability for those operating leases assumed in connection with the Bluegreen Acquisition with a remaining term in excess of one year. We measured the lease liabilities assumed at the present value of the remaining contractual lease payments based on the guidance in Accounting Standards Codification Topic 842: Leases discounted at an incremental borrowing rate applicable to HGV determined as of the Bluegreen Acquisition Date. The right-of-use assets for such leases were measured at an amount equal to the lease liabilities, adjusted for the favorable or unfavorable leasehold position considering the contractual 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. Additionally, any equipment lease was held at carrying value. We continue to assess the market assumptions as of the Bluegreen Acquisition Date, which could result in changes to our preliminary estimate. Intangible Assets The following table presents our preliminary estimates of the fair values of the acquired Bluegreen’s identified intangible assets and their related estimated useful lives: Weighted Average Estimated Useful Life Estimated Fair Trade name 7 $ 30 Management contracts 19 479 Club member relationships 11 36 Capitalized software 3 12 Marketing agreements 17 209 Other contract-related intangible assets 12 46 Total intangible assets acquired $ 812 We preliminarily estimated the fair value of Bluegreen'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 preliminarily estimated the value of management contracts and club 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. The marketing agreements were valued using the with‑and‑without method of the income approach. Under this method, the value of an asset is a function of the differential of projected cash flows with the asset in place and the projected cash flows without the asset in place, discounted to present value. We continue to review Bluegreen'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 as of the Bluegreen Acquisition Date, which could result in changes to these preliminary values. Debt As part of the acquisition and consideration transferred, we paid off $265 million of Bluegreen’s existing corporate debt and accrued interest. We preliminarily estimated the fair value of the remaining assumed debt using a discounted cash flow model under the income approach. The significant assumptions include prepayment rates, interest rates and other structural factors. We are continuing to evaluate the significant assumptions underlying the discounted cash flow model as of the Bluegreen Acquisition Date, which could result in changes to our preliminary estimate. Non-Recourse Debt We preliminarily estimated the fair value of the securitized debt 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 as of the Bluegreen Acquisition Date, which could result in changes to our preliminary estimate. 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. We preliminarily estimated the fair value of the deferred revenue at the carrying value of such liabilities as of the Bluegreen Acquisition Date. We continue to review Bluegreen’s contracts as of the Bluegreen Acquisition Date, which could result in changes to the preliminary estimate. Deferred Income Taxes Deferred income taxes primarily relate to the fair value of assets and liabilities acquired from Bluegreen, including timeshare financing receivables, inventory, property and equipment, intangible assets, and debt. We preliminarily estimated deferred income taxes based on the blended U.S. federal and state statutory tax rate which approximates to 25%. Within the measurement period, we will continue 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 as of the Bluegreen Acquisition Date, which could result in changes to these preliminary values. Noncontrolling Interest The acquired noncontrolling interest relates to Bluegreen/Big Cedar Vacations, LLC, a joint venture in which we are deemed to hold a controlling financial interest based on our 51% equity interest, our active role as the day-to-day manager of its activities, and our majority voting control of its management committee. We preliminarily estimated the fair value of the noncontrolling interest using a discounted cash flow model under the income approach. We continue to assess the market assumptions as of the Bluegreen Acquisition Date, which could result in changes to our preliminary estimate. Goodwill We have recorded a preliminary estimate of $513 million of goodwill in connection with the Bluegreen 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 Bluegreen Acquisition. The majority of goodwill is not expected to be deductible for tax purposes. Resort Operations and Club Management Segment Real Estate Sales and Financing Segment Total Consolidated Goodwill $ 174 $ 339 $ 513 Pro Forma Results of Operations The following unaudited pro forma information presents the combined results of operations of HGV and Bluegreen as if we had completed the Bluegreen Acquisition on January 1, 2023, the first day of our 2023 fiscal year, but using our preliminary fair values of assets and liabilities as of the Bluegreen 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 Bluegreen Acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations. Six Months Ended June 30, ($ in millions) 2024 2023 Revenue $ 2,437 $ 2,449 Net income (2) 115 Bluegreen Results of Operations The following table presents the results of Bluegreen operations included in our unaudited condensed consolidated statement of operations for the period from the Bluegreen Acquisition Date through the second quarter of 2024: ($ in millions) January 17, 2024 to June 30, 2024 Revenue $ 433 Net loss (27) Grand Islander Acquisition On December 1, 2023 (“Grand Islander Acquisition Date”), the Company completed the acquisition of BRE Grand Islander Parent LLC (“Grand Islander”), by exchanging 100% of the outstanding equity interests of Grand Islander for $117 million (the “Grand Islander Acquisition”). Prior to the acquisition, we managed the resort property in Hawaii owned by Grand Islander. The acquisition expands our product offerings and provides existing members upgrade opportunities to locations outside of the prior Fee-for-service arrangement. The purchase price of $117 million included cash consideration, as well as $4 million of non-cash consideration attributable to the effective settlement of a pre-existing relationship based on the contract value. As of June 30, 2024, the preliminary fair values of the assets acquired includes $8 million of cash and cash equivalents, $28 million of restricted cash, $5 million of accounts receivable, $53 million of unsecuritized timeshare financing receivables, net, $199 million of securitized timeshare financing receivables, net, $15 million of inventory, and $2 million of other assets. Of the securitized timeshare financing receivables acquired, $128 million is used as collateral to secure a non-recourse revolving timeshare receivable credit facility (“Grand Islander Timeshare Facility”). The preliminary fair values of the liabilities assumed consist of $193 million of non-recourse debt and $4 million of other liabilities. The estimated fair values of the assets acquired, and liabilities assumed and the related preliminary acquisition accounting were based on management’s estimates and assumptions, as well as other information compiled by management. We preliminarily estimated the fair value of the timeshare financing receivables and inventory using a discounted cash flow model, which calculated a present value of expected future risk-adjusted cash flows over the remaining term of the respective timeshare financing receivable and the sell-out period of the inventory, respectively. For non-recourse debt, we estimated the fair value using recent trades of the debt, using adjustments to recent trades of similar debt or the settlement amounts for debt that was repaid in close proximity to the Grand Islander Acquisition Date. The timeshare financing receivables acquired were considered purchase credit deteriorated (“PCD”) assets. The following table presents the acquired assets with credit deterioration as of the Grand Islander Acquisition Date: ($ in millions) As of Purchase price $ 252 Allowance for credit losses 24 Premium attributable to other factors (2) Par value $ 274 Goodwill of $4 million is calculated as total consideration transferred less net assets acquired. The measurement period adjustments recorded during the six months ended June 30, 2024 resulted from changes to our estimates of the fair value of the acquired assets and assumed liabilities based on updated preliminary valuations of acquired timeshare financing receivables and inventory. These resulted in an increase to goodwill for the period of $2 million. We have allocated the acquired goodwill of $4 million to our Real Estate Sales and Financing segment. Our allocations may change throughout the measurement period as we continue to finalize the fair value of assets acquired and liabilities assumed in the Grand Islander Acquisition. The majority of goodwill is expected to be deductible for tax purposes. All amounts recorded, including those based on estimates and assumptions, are subject to change during the measurement period, not to exceed one year from the Grand Islander Acquisition Date.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	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 reportable segments: (i) Real estate sales and financing and (ii) Resort operations and club management . See Note 17: Business Segments for more information related to our segments. ($ in millions) Three Months Ended June 30, Six Months Ended June 30, Real Estate Sales and Financing Segment 2024 2023 2024 2023 Sales of VOIs, net $ 471 $ 355 $ 909 $ 673 Sales, marketing, brand and other fees 167 173 312 331 Interest income 88 65 184 131 Other financing revenue 14 11 22 19 Real estate sales and financing segment revenues $ 740 $ 604 $ 1,427 $ 1,154 ($ in millions) Three Months Ended June 30, Six Months Ended June 30, Resort Operations and Club Management Segment 2024 2023 2024 2023 Club management $ 67 $ 53 $ 130 $ 104 Resort management 104 80 207 160 Rental (1) 181 162 350 309 Ancillary services 14 11 26 22 Resort operations and club management segment revenues $ 366 $ 306 $ 713 $ 595 (1) Excludes intersegment transactions. See Note 17: Business Segments for additional information. Receivables from Contracts with Customers, Contract Liabilities, and Contract Assets Our accounts receivable that relate to our contracts with customers includes amounts associated with our contractual right to consideration for completed performance obligations 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. Our timeshare financing receivables consist of loans related to our financing of VOI sales that are secured by the underlying timeshare properties. See Note 6: Timeshare financing receivables for additional information. The following table provides information on our contracts with customers which are included in Accounts receivable, net and Timeshare financing receivables, net , respectively, on our condensed consolidated balance sheets: ($ in millions) June 30, 2024 December 31, 2023 Receivables from contracts with customers: Accounts receivable, net $ 346 $ 343 Timeshare financing receivables, net 2,976 2,113 Total $ 3,322 $ 2,456 Contract liabilities include payments received or due in advance of satisfying our performance obligations. Such contract liabilities include advanced deposits received on prepaid vacation packages for future stays at our resorts, deferred revenue related to sales of VOIs of projects under construction, club activation fees and annual dues, 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, deferred maintenance fees and other deferred revenue. The following table presents the composition of our contract liabilities: ($ in millions) June 30, 2024 December 31, 2023 Contract liabilities: Advanced deposits $ 224 $ 179 Deferred sales of VOIs of projects under construction 51 39 Club activation fees and annual dues 142 97 Bonus point incentive liability (1) 93 83 Deferred maintenance fees 29 12 Other deferred revenue 61 38 (1) The balance includes $55 million and $54 million of bonus point incentive liabilities included in Accounts payable, accrued expenses and other on our condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively. This liability is for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements. Revenue earned for the three and six months ended June 30, 2024, that was included in the contract liabilities balance at December 31, 2023, was approximately $68 million and $150 million, respectively. 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. As of June 30, 2024 and December 31, 2023, there were $2 million and $13 million of contract assets, respectively. Transaction Price Allocated to Remaining Performance Obligations Transaction price allocated to remaining performance obligations represents contract revenue that has not yet been recognized. Our contracts with remaining performance obligations primarily include (i) sales of VOIs under construction, (ii) club activation fees paid at closing of a VOI purchase, (iii) customers’ advanced deposits on prepaid vacation packages and (iv) bonus points that may be redeemed in the future. Deferred VOI sales include deferred revenue from sales associated with phases or buildings under-construction and not yet completed. The following table presents the deferred revenue, deferred cost of VOI sales and deferred direct selling costs from sales of VOIs related to projects under construction: ($ in millions) June 30, 2024 December 31, 2023 Sales of VOIs, net $ 51 $ 39 Cost of VOI sales 15 10 Sales and marketing expense 7 6 During the six months ended June 30, 2024, we recognized $48 million of sales of VOIs, net, offset by deferrals of $59 million, related to sales of projects under construction, some of which were completed during the year. We expect to recognize the revenue, costs of VOI sales and direct selling costs related to the projects under construction as of June 30, 2024, upon their completion. The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Bonus points incentive liability as of June 30, 2024: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 224 18 months Upon customer stays Club activation fees 65 7 years Straight-line basis over average inventory holding period Bonus point incentive liability 93 18 - 30 months Upon redemption

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Accounts receivable within the scope of ASC 326 are measured at amortized cost. The following table represents our accounts receivable, net of allowance for credit losses: ($ in millions) June 30, 2024 December 31, 2023 Fee-for-service commissions $ 60 $ 57 Real estate and financing 68 87 Resort and club operations 218 199 Tax receivables 159 97 Insurance claims receivable — 54 Other receivables 19 13 Total $ 524 $ 507 Our accounts receivable are generally 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. The changes in our allowance were as follows during the six months ended June 30, 2024: ($ in millions) Fee-for-service commissions Real estate and financing Resort and club operations Total Balance as of December 31, 2023 $ 23 $ 34 $ 3 $ 60 Current period provision for expected credit losses 4 7 12 23 Write-offs charged against the allowance (8) (8) (1) (17) Balance as of June 30, 2024 $ 19 $ 33 $ 14 $ 66

TIMESHARE FINANCING RECEIVABLES

TIMESHARE FINANCING RECEIVABLES	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
TIMESHARE FINANCING RECEIVABLES	TIMESHARE FINANCING RECEIVABLES We define our timeshare financing receivables portfolio segments as (i) originated and (ii) acquired. Our originated portfolio represents timeshare financing receivables that originated after August 2, 2021 related to Diamond (“Legacy-Diamond”), after December 1, 2023 related to Grand Islander (“Legacy-Grand Islander”), after January 17, 2024 related to Bluegreen (“Legacy-Bluegreen”) and timeshare financing receivables that existed both prior to and following the various acquisition dates (“Legacy-HGV”). Our acquired portfolio includes all timeshare financing receivables acquired from Legacy-Diamond, Legacy-Grand Islander and Legacy-Bluegreen that existed as of the respective acquisition dates. The following table presents the components of each portfolio segment by class of timeshare financing receivables: Originated Acquired ($ in millions) June 30, December 31, June 30, December 31, Securitized $ 1,026 $ 770 $ 794 $ 214 Unsecuritized (1) 1,409 1,326 617 551 Timeshare financing receivables, gross $ 2,435 $ 2,096 $ 1,411 $ 765 Unamortized non-credit acquisition premium (2) — — 136 32 Less: allowance for financing receivables losses (613) (500) (393) (279) Timeshare financing receivables, net $ 1,822 $ 1,596 $ 1,154 $ 518 (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) Non-credit premium of $97 million was recognized at the Diamond Acquisition Date, of which $18 million and $26 million remains unamortized as of June 30, 2024 and December 31, 2023, respectively. A non-credit premium of $2 million was recognized at the Grand Islander Acquisition Date with $1 million remaining unamortized as of June 30, 2024 and December 31, 2023, respectively. Non-credit premium of $152 million was recognized at the Bluegreen Acquisition Date, of which $117 million remains unamortized as of June 30, 2024. In April 2024, we completed a securitization of approximately $240 million of gross timeshare financing receivables and issued approximately $101 million of 5.75% notes, $58 million of 5.99% notes, $46 million of 6.62% notes, and $35 million of 8.85% notes due September 2039. The securitization transaction did not qualify as a sale and, accordingly, no gain or loss was recognized. The transaction is considered a secured borrowing, and the notes from the transaction are presented as non-recourse debt. The proceeds were used to pay down in part some of our existing debt and for other general corporate purposes. See Note 8: Consolidated Variable Interest Entities and Note 11: Debt and Non-recourse Deb t for additional information. In May 2024, we completed a securitization of approximately $375 million of gross timeshare financing receivables and issued approximately $217 million of 5.50% notes, $80 million of 5.65% notes, $57 million of 5.99% notes, and $21 million of 6.91% notes due March 2038. The securitization transaction did not qualify as a sale and, accordingly, no gain or loss was recognized. The transaction is considered a secured borrowing, and the notes from the transaction are presented as non-recourse debt. The proceeds were used to pay down in part some of our existing debt and for other general corporate purposes. See Note 8: Consolidated Variable Interest Entities and Note 11: Debt and Non-recourse Debt for additional information. As of June 30, 2024 and December 31, 2023, we had timeshare financing receivables of $9 million and $415 million, respectively, securing the Timeshare Facility. In connection with the acquisitions of Grand Islander and Bluegreen, we had access to additional timeshare facilities, which were terminated during the first quarter of 2024. For our originated portfolio, we record an estimate of variable consideration for defaults as a reduction of revenue from financed VOI sales at the time revenue is recognized. 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. During the six months ended June 30, 2024, and 2023, we recorded adjustments to our estimate of variable consideration of $158 million and $71 million, respectively. For our acquired portfolio, any changes to the estimates of our allowance are recorded within Financing expense on our unaudited condensed consolidated statements of operations in the period in which the change occurs. We recognize interest income on our timeshare financing receivables as earned. As of June 30, 2024 and December 31, 2023, we had interest receivable outstanding of $17 million for both periods on our originated timeshare financing receivables. As of June 30, 2024 and December 31, 2023, we had interest receivable outstanding of $10 million and $4 million, respectively, on our acquired timeshare financing receivables. Interest receivable is included in Other Assets within our unaudited condensed consolidated balance sheets. The interest rate charged on the notes correlates to the risk profile of the customer at the time of purchase and the percentage of the purchase that is financed, among other factors. As of June 30, 2024, our originated timeshare financing receivables had interest rates ranging from 1.5% to 25.8%, a weighted-average interest rate of 15.2%, a weighted-average remaining term of 8.4 years and maturities through 2039. Our acquired timeshare financing receivables had interest rates ranging from 2.0% to 25.0%, a weighted-average interest rate of 14.9%, a weighted-average remaining term of 7.3 years and maturities through 2039. 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. During the six months ended June 30, 2024 and 2023, we reversed $37 million and $36 million, respectively, of accrued interest income. We resume interest accrual for loans for which we had previously ceased accruing interest once the loan is less than 91 days past due. We fully reserve for a timeshare financing receivable in the month following the date that the loan is 121 days past due and, subsequently, we write off the uncollectible note against the reserve once the foreclosure process, which is governed by product type and local law, is complete. Allowance for Financing Receivables Losses The changes in our allowance for financing receivables losses were as follows: ($ in millions) Originated Acquired Balance as of December 31, 2023 $ 500 $ 279 Initial allowance for PCD financing receivables acquired during the period (1) — 191 Provision for financing receivables losses (2) 158 1 Write-offs (57) (111) Inventory recoveries — 45 Upgrades (3) 12 (12) Balance as of June 30, 2024 $ 613 $ 393 ($ in millions) Originated Acquired Balance as of December 31, 2022 $ 404 $ 338 Provision for financing receivables losses (2) 71 — Write-offs (33) (28) Inventory recoveries — 8 Upgrades (3) 5 (5) Balance as of June 30, 2023 $ 447 $ 313 (1) The initial allowance determined for receivables with credit deterioration was $197 million as of the Bluegreen Acquisition Date. We also reduced the allowance determined for receivables with credit deterioration for Legacy-Grand Islander by $6 million. (2) For the Originated portfolio segment, this amount includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded timeshare financing receivables. For the Acquired portfolio segment, this amount includes incremental provision for credit loss expense from Acquired loans. (3) Represents the initial change in allowance resulting from upgrades of Acquired loans. Upgraded Acquired loans and their related allowance are included in the Originated portfolio segment. Originated Timeshare Financing Receivables Our originated timeshare financing receivables as of June 30, 2024 mature as follows: Originated Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2024 (remaining) $ 52 $ 49 $ 101 2025 107 98 205 2026 116 106 222 2027 119 118 237 2028 119 132 251 Thereafter 513 906 1,419 Total $ 1,026 $ 1,409 $ 2,435 Acquired Timeshare Financing Receivables with Credit Deterioration Our acquired timeshare financing receivables were deemed to be purchased 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 financing receivable 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 each respective acquisition date was determined using a discounted cash flow method, which calculated a present value of expected future risk-adjusted cash flows over the remaining term of the respective timeshare financing receivables. Consequently, the fair value of the acquired timeshare financing receivables recorded on our unaudited condensed consolidated balance sheet as of the respective acquisition date included an estimate of expected financing receivable losses which became the historical cost basis for that portfolio going forward. The allowance for financing receivable 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 timeshare financing receivables performance and the current economic environment in the re-measurement of the allowance for financing receivable losses for our acquired timeshare financing receivables. Subsequent changes to the allowance for acquired financing receivable losses are recorded within Financing expense on our unaudited condensed consolidated statements of operations in the period in which the change occurs. Our gross acquired timeshare financing receivables as of June 30, 2024 mature as follows: Acquired Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2024 (remaining) $ 43 $ 32 $ 75 2025 92 66 158 2026 98 68 166 2027 102 71 173 2028 98 75 173 Thereafter 361 305 666 Total $ 794 $ 617 $ 1,411 Credit Quality of Timeshare Financing Receivables We evaluate these portfolios 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 the static pool analysis, we use several years of default data through which we stratify our portfolio using certain key dimensions to stratify our portfolio such as FICO scores and equity percentage at the time of sale. The adequacy of the related allowance is determined by management through analysis of several factors, such as current and forward-looking 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. Originated Timeshare Financing Receivables Our originated gross balances by average FICO score of our originated timeshare financing receivables were as follows: Originated June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 915 $ 425 $ 12 $ 150 $ 1,502 600-699 324 237 3 63 627 <600 40 32 — 5 77 No score (1) 205 9 13 2 229 Total $ 1,484 $ 703 $ 28 $ 220 $ 2,435 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Originated December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 882 $ 403 $ 3 $ — $ 1,288 600-699 311 220 — — 531 <600 39 31 — — 70 No score (1) 196 8 3 — 207 Total $ 1,428 $ 662 $ 6 $ — $ 2,096 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following table details our gross originated timeshare financing receivables by the origination year and average FICO score as of June 30, 2024: Originated Timeshare Financing Receivables ($ in millions) 2024 2023 2022 2021 2020 Prior Total FICO score 700+ $ 481 $ 443 $ 304 $ 121 $ 28 $ 125 $ 1,502 600-699 181 190 143 53 10 50 627 <600 19 24 19 7 1 7 77 No score (1) 67 67 34 16 10 35 229 Total $ 748 $ 724 $ 500 $ 197 $ 49 $ 217 $ 2,435 Current period gross write-offs $ — $ 2 $ 26 $ 17 $ 3 $ 9 $ 57 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. As of June 30, 2024 and December 31, 2023, we had ceased accruing interest on originated timeshare financing receivables with an aggregate principal balance of $257 million and $208 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Originated - Securitized June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 659 $ 257 $ 1 $ 73 $ 990 31 - 90 days past due 13 8 — 1 22 91 - 120 days past due 4 2 — — 6 121 days and greater past due 4 4 — — 8 Total $ 680 $ 271 $ 1 $ 74 $ 1,026 Originated - Unsecuritized June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 667 $ 295 $ 27 $ 143 $ 1,132 31 - 90 days past due 18 14 — 2 34 91 - 120 days past due 6 8 — 1 15 121 days and greater past due 113 115 — — 228 Total $ 804 $ 432 $ 27 $ 146 $ 1,409 Originated - Securitized December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 577 $ 162 $ — $ — $ 739 31 - 90 days past due 11 8 — — 19 91 - 120 days past due 4 3 — — 7 121 days and greater past due 2 3 — — 5 Total $ 594 $ 176 $ — $ — $ 770 Originated - Unsecuritized December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 723 $ 366 $ 6 $ — $ 1,095 31 - 90 days past due 16 18 — — 34 91 - 120 days past due 4 7 — — 11 121 days and greater past due 91 95 — — 186 Total $ 834 $ 486 $ 6 $ — $ 1,326 Acquired Timeshare Financing Receivables Our gross balances by average FICO score of our acquired timeshare financing receivables were as follows: Acquired June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 222 $ 54 $ 414 $ 690 600-699 159 17 309 485 <600 33 — 40 73 No score (1) 10 148 5 163 Total $ 424 $ 219 $ 768 $ 1,411 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Acquired December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 256 $ 66 $ — $ 322 600-699 189 20 — 209 <600 42 — — 42 No score (1) 12 180 — 192 Total $ 499 $ 266 $ — $ 765 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following tables detail our gross acquired timeshare financing receivables by the origination year and average FICO score as of June 30, 2024: Acquired Timeshare Financing Receivables ($ in millions) 2024 2023 2022 2021 2020 Prior Total FICO score 700+ $ 4 $ 248 $ 100 $ 79 $ 64 $ 195 $ 690 600-699 1 143 76 63 46 156 485 <600 — 15 9 9 10 30 73 No score (1) — 35 26 15 19 68 163 Total $ 5 $ 441 $ 211 $ 166 $ 139 $ 449 $ 1,411 Current period gross write-offs $ — $ 28 $ 19 $ 24 $ 16 $ 24 $ 111 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. As of June 30, 2024 and December 31, 2023, we had ceased accruing interest on acquired timeshare financing receivables with an aggregate principal balance of $295 million and $279 million, respectively. The following tables detail an aged analysis of our gross timeshare receivables balance: Acquired - Securitized June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 126 $ 76 $ 558 $ 760 31 - 90 days past due 4 1 19 24 91 - 120 days past due 2 — 5 7 121 days and greater past due 2 — 1 3 Total $ 134 $ 77 $ 583 $ 794 Acquired - Unsecuritized June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 53 $ 121 $ 144 $ 318 31 - 90 days past due 3 3 8 14 91 - 120 days past due 1 2 8 11 121 days and greater past due 233 16 25 274 Total $ 290 $ 142 $ 185 $ 617 Acquired - Securitized December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 131 $ 71 $ — $ 202 31 - 90 days past due 6 1 — 7 91 - 120 days past due 2 — — 2 121 days and greater past due 3 — — 3 Total $ 142 $ 72 $ — $ 214 Acquired - Unsecuritized December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 92 $ 177 $ — $ 269 31 - 90 days past due 5 3 — 8 91 - 120 days past due 2 1 — 3 121 days and greater past due 258 13 — 271 Total $ 357 $ 194 $ — $ 551

INVENTORY

INVENTORY	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory was comprised of the following: ($ in millions) June 30, 2024 December 31, 2023 Completed unsold VOIs $ 1,623 $ 1,259 Construction in process 305 140 Land, infrastructure and other 1 1 Total $ 1,929 $ 1,400 For the six months ended June 30, 2024, we recorded non-cash operating activity transfers of $69 million related to the registrations for timeshare units under construction for two properties from Property and equipment, net to Inventory . As VOI inventory is constructed it is recorded into Property and equipment, net until such units are registered and made available for sale. Once registered and available for sale, the units are then transferred into completed unsold VOIs inventory. The table below presents cost of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory and cost of VOI sales: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Cost of sales true-up (1) $ (4) $ 13 $ 11 $ 29 (1) For the three months ended June 30, 2024, the cost of sales true-up increased cost of VOI sales and decreased inventory. For the six months ended June 30, 2024, the cost of sales true-up decreased cost of VOI sales and increased inventory. For the three and six months ended June 30, 2023, the cost of sales true-up decreased cost of VOI sales and increased inventory.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITIES	CONSOLIDATED VARIABLE INTEREST ENTITIES As of June 30, 2024, we consolidated 17 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 these VIEs as we have the power to direct the activities that most significantly affect their economic performance. We are also the servicer of these timeshare financing receivables and we often replace or repurchase timeshare financing receivables that are in default at their outstanding principal amounts. Additionally, we have the 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. We have aggregated the variable interests in the entities, including those associated with Bluegreen's outstanding timeshare financing receivables securitization transactions, as they are similar in nature. See Note 11: Debt and Non-recourse debt for additional information. Our condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily consisted of the following: ($ in millions) June 30, 2024 December 31, 2023 Restricted cash $ 62 $ 48 Timeshare financing receivables, net 1,535 1,395 Non-recourse debt, net 1,705 1,466

INVESTMENTS IN UNCONSOLIDATED A

INVESTMENTS IN UNCONSOLIDATED AFFILIATES	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	INVESTMENTS IN UNCONSOLIDATED AFFILIATES As of June 30, 2024 and December 31, 2023, we had ownership interests in BRE Ace LLC and 1776 Holding LLC, which are VIEs. We do not consolidate BRE Ace LLC and 1776 Holding LLC because we are not the primary beneficiary. These two unconsolidated affiliates have aggregated debt balances of $368 million and $427 million as of June 30, 2024 and December 31, 2023, 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 totaled $78 million and $71 million as of June 30, 2024 and December 31, 2023, respectively, and (ii) receivables for commission and other fees earned under fee-for-service arrangements. See Note 16: Related Party Transactions for additional information. As part of the Bluegreen Acquisition, we obtained variable interests within statutory business trusts (collectively, the “Trusts”) formed previously by wholly owned subsidiaries of the Company. Each subsidiary issued trust preferred securities as part of a larger pooled trust securities offering which was not registered under the Securities Act of 1933 and invested the proceeds thereof in its junior subordinated debentures. The Trusts were VIEs in which the subsidiaries are not the primary beneficiaries. As of June 30, 2024, we paid down $171 million, which represented the full balance of the junior subordinated debentures acquired as part of the Bluegreen acquisition. See Note 11: Debt and Non-recourse debt for additional information. For these VIEs, our investment interests are included in the condensed consolidated balance sheets as Investments in unconsolidated affiliates , and equity earned is included in the unaudited condensed consolidated statements of operations as Equity in earnings from unconsolidated affiliates .

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Intangible assets and related accumulated amortization were as follows: June 30, 2024 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 48 $ (20) $ 28 Management contracts 1,819 (412) 1,407 Club member relationships 175 (67) 108 Capitalized software 242 (144) 98 Marketing agreements 209 (7) 202 Other contract-related intangible assets 46 (2) 44 Total $ 2,539 $ (652) $ 1,887 December 31, 2023 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ (18) $ — Management contracts 1,340 (347) 993 Club member relationships 139 (57) 82 Capitalized software 207 (124) 83 Total $ 1,704 $ (546) $ 1,158 We acquired definite-life intangible assets as part of the Bluegreen Acquisition, which have been valued on a preliminary basis, in the amount of $812 million as of the Bluegreen Acquisition Date. Refer to Note 3: Acquisitions for additional information. Amortization expense on intangible assets was $55 million and $38 million for the three months ended June 30, 2024 and 2023, respectively, and $106 million and $78 million for the six months ended June 30, 2024 and 2023, respectively. No intangible impairment charges were recognized during the three and six months ended June 30, 2024 and 2023, respectively.

DEBT AND NON-RECOURSE DEBT

DEBT AND NON-RECOURSE DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT AND NON-RECOURSE DEBT	DEBT AND NON-RECOURSE DEBT Debt The following table details our outstanding debt balance and its associated interest rates: ($ in millions) June 30, 2024 December 31, 2023 Debt (1) Senior secured credit facility Term loan with a rate of 7.829%, due 2028 $ 1,264 $ 1,271 Term loan with a rate of 8.079%, due 2031 898 — Revolver with a rate of 7.688%, due 2026 513 438 Senior notes with a rate of 5.000%, due 2029 850 850 Senior notes with a rate of 4.875%, due 2031 500 500 Senior notes with a rate of 6.625%, due 2032 900 — Other debt (4) 36 33 Total debt, gross 4,961 3,092 Less: unamortized deferred financing costs and discounts (2)(3)(5) (76) (43) Total debt, net $ 4,885 $ 3,049 (1) As of June 30, 2024 and December 31, 2023, weighted-average interest rates were 6.850% and 6.649%, respectively. (2) Amount includes unamortized deferred financing costs related to our term loans and senior notes of $41 million and $26 million, respectively, as of June 30, 2024 and $21 million and $17 million, respectively, as of December 31, 2023. This amount also includes unamortized original issuance discounts of $6 million and $5 million as of June 30, 2024 and December 31, 2023, respectively. (3) Amount does not include unamortized deferred financing costs of $3 million as of June 30, 2024 and December 31, 2023, respectively, related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets. (4) This amount includes $5 million related to the recourse portion on the NBA Receivables Facility, which is generally limited to the greater of 15% of the outstanding borrowings and $5 million, subject to certain exceptions. (5) Amount also includes unamortized discount of $3 million related to the Bluegreen debt recognized at the Bluegreen Acquisition Date. Senior secured credit facility On January 17, 2024, we entered into Amendment No. 4 (the “Amendment”) to the Credit Agreement and incurred $900 million of new term loans that will mature on January 17, 2031. Proceeds from the new term loans were used to pay the Bluegreen Acquisition consideration, fees and expenses incurred in connection with the Amendment and to refinance the repayment of certain indebtedness of Bluegreen and its subsidiaries. On April 8, 2024, we amended our Term Loan due 2028 under the Senior secured credit facility. Under the amendment, the new interest rate is SOFR plus 2.50%, down from SOFR plus 2.75%. Also the credit spread adjustment for the Term Loan due 2028 was removed. On July 18, 2024, we amended our Term Loan due 2031 under the Senior secured credit facility. Under the amendment, the new interest rate is SOFR plus 2.25%, down from SOFR plus 2.75%. As of June 30, 2024, we had $41 million of letters of credit outstanding under the revolving credit facility and $1 million outstanding backed by cash collateral. We were in compliance with all applicable maintenance and financial covenants and ratios as of June 30, 2024. As of June 30, 2024, we have $446 million remaining borrowing capacity under the revolver facility. We primarily use interest rate swaps as part of our interest rate risk management strategy for our variable-rate debt. These interest rate swaps are associated with the SOFR-based senior secured credit facility. As of June 30, 2024, these interest rate swaps convert the SOFR-based variable rate on our Term Loan due 2028 to average fixed rates of 1.55% per annum with maturities between 2026 and 2028, for the balance on this borrowing up to the notional values of our interest rate swaps. As of June 30, 2024, the aggregate notional values of the interest rate swaps under our Term Loan due 2028 was $550 million. Our interest rate swaps have been designated and qualify as cash flow hedges of interest rate risk and are recorded at their estimated fair value as an asset in Other assets in our condensed consolidated balance sheets. As of June 30, 2024 and December 31, 2023, the estimated fair values of our cash flow hedges were $46 million and $42 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. We classify cash inflows and outflows from derivatives that hedge interest rate risk within operating activities in the unaudited condensed consolidated statements of cash flows. The following table reflects the activity, net of tax, in Accumulated other comprehensive income related to our derivative instruments during the six months ended June 30, 2024: Net unrealized gain on derivative instruments Balance as of December 31, 2023 $ 32 Other comprehensive income before reclassifications, net 11 Reclassifications to net income (8) Balance as of June 30, 2024 $ 35 Senior Notes due 2032 On January 10, 2024, we completed an offering for $900 million aggregate principal amount of 6.625% senior secured notes due 2032 (“Senior Notes due 2032”) issued by our wholly-owned subsidiaries, Hilton Grand Vacations Borrower Escrow, LLC and Hilton Grand Vacations Borrower Escrow, Inc. Proceeds from the new secured notes were used to pay the Bluegreen Acquisition consideration, fees and expenses incurred in connection with the Amendment and to refinance the repayment of certain indebtedness of Bluegreen and its subsidiaries. The Senior Notes due 2032 are guaranteed on a senior secured basis by certain of our subsidiaries. We are in compliance with all applicable financial covenants as of June 30, 2024. Senior Notes due 2029 and 2031 The Senior Unsecured Notes are guaranteed on a senior unsecured basis by certain of our subsidiaries. We are in compliance with all applicable financial covenants as of June 30, 2024. Junior subordinated debentures As part of the Bluegreen Acquisition, we assumed junior subordinated debentures. During the six months ended June 30, 2024, the junior subordinated debentures were paid down in full for $171 million. See Note 9: Investments in Unconsolidated Affiliates for additional information. Non-recourse Debt The following table details our outstanding non-recourse debt balance and associated interest rates: ($ in millions) June 30, December 31, 2023 Non-recourse debt (1) Timeshare Facility with an average rate of 6.530%, due 2027 (2) $ — $ 400 Grand Islander Timeshare Facility with an average rate of 6.716%, due 2029 — 124 HGV Securitized Debt with a weighted average rate of 3.602%, due 2032 53 66 HGV Securitized Debt with a weighted average rate of 2.431%, due 2033 58 70 HGV Securitized Debt with a weighted average rate of 4.304%, due 2034 97 118 HGV Securitized Debt with a weighted average rate of 4.826%, due 2037 155 188 HGV Securitized Debt with a weighted average rate of 5.937%, due 2038 217 264 HGV Securitized Debt with a weighted average rate of 5.685%, due 2038 367 — HGV Securitized Debt with a weighted average rate of 6.419%, due 2039 227 — HGV Securitized Debt with a weighted average rate of 3.658%, due 2039 79 95 Grand Islander Securitized Debt with a weighted average rate of 2.965%, due 2029 — 15 Grand Islander Securitized Debt with a weighted average rate of 3.316%, due 2033 46 55 Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2033 74 87 Bluegreen Securitized Debt with a weighted average rate of 3.117%, due 2032 14 — Bluegreen Securitized Debt with a weighted average rate of 4.019%, due 2034 22 — Bluegreen Securitized Debt with a weighted average rate of 2.597%, due 2036 49 — Bluegreen Securitized Debt with a weighted average rate of 4.599%, due 2037 101 — Bluegreen Securitized Debt with a weighted average rate of 6.321%, due 2038 171 — Quorum Purchase Facility with an average rate of 5.020%, due 2034 7 — NBA Receivables Facility with an average rate of 7.200%, due 2031 (5) 21 — Total non-recourse debt, gross 1,758 1,482 Less: unamortized deferred financing costs and discount (3)(4) (33) (16) Total non-recourse debt, net $ 1,725 $ 1,466 (1) As of June 30, 2024 and December 31, 2023, weighted-average interest rates were 5.075% and 5.095%, respectively. (2) The revolving commitment period of the Timeshare Facility terminates in March 2026; however, the repayment maturity date extends 12 months beyond the commitment termination date to March 2027. (3) Amount relates to securitized debt only and does not include unamortized deferred financing costs of $3 million and $2 million as of June 30, 2024 and December 31, 2023, respectively, relating to our Timeshare Facility included in Other Assets in our condensed consolidated balance sheets. (4) Amount also includes unamortized discount of $2 million related to the Grand Islander securitized debt recognized at the Grand Islander Acquisition Date and unamortized discount of $12 million related to the Bluegreen securitized and non-recourse debt recognized at the Bluegreen Acquisition Date. (5) Recourse on the NBA Receivables Facility is generally limited to the greater of 15% of the outstanding borrowings and $5.0 million, subject to certain exceptions. In April 2024, we completed a securitization of approximately $240 million of gross timeshare financing receivables and issued approximately $101 million of 5.75% notes, $58 million of 5.99% notes, $46 million of 6.62% notes, and $35 million of 8.85% notes due September 2039. The issued notes are backed by pledged assets, consisting primarily of a pool of Bluegreen timeshare financing receivables secured by first mortgages and a letter of credit. The notes are a non-recourse obligation and are payable solely from the pool of timeshare financing receivables pledged as collateral for the notes. The proceeds of the notes were used to pay down in part some of our existing debt and for other general corporate purposes. Additionally, in connection with the securitization, we incurred $4 million in debt issuance costs. In May 2024, we completed a securitization of approximately $375 million of gross timeshare financing receivables and issued approximately $217 million of 5.50% notes, $80 million of 5.65% notes, $57 million of 5.99% notes, and $21 million of 6.91% notes due March 2038. The issued notes are backed by pledged assets, consisting primarily of a pool of timeshare loans secured by first mortgages, first deeds of trust, membership interests or timeshare interests (other than a fee simple interest in real estate). The notes are a non-recourse obligation and are payable solely from the timeshare financing receivables pledged as collateral for the notes. The proceeds of the notes were used to pay down in part some of our existing debt and for other general corporate purposes. Additionally, in connection with the securitization, we incurred $5 million in debt issuance costs. The Timeshare Facility is a non-recourse obligation payable solely from the pool of timeshare financing receivables pledged as collateral and related assets. As of June 30, 2024, our Timeshare Facility has a remaining borrowing capacity of $750 million. In March 2024, we renewed our Timeshare Facility agreement under new terms, which included extending the commitment and maturity period to March 2026 and March 2027, respectively, and permitting to pledge as collateral certain timeshare loans associated to Grand Islander. On January 31, 2024, we terminated the Grand Islander Timeshare Facility. In connection with the Bluegreen Acquisition, we acquired an additional timeshare facility which was subsequently terminated in February 2024. We are required to deposit payments received from customers on the timeshare financing receivables securing the Timeshare Facility and Securitized Debt into depository accounts maintained by third parties. On a monthly basis, the depository accounts are utilized to make required principal, interest and other payments due under the respective loan agreements. The balances in the depository accounts were $62 million and $48 million as of June 30, 2024 and December 31, 2023, respectively, and were included in Restricted cash in our condensed consolidated balance sheets. Debt Maturities The contractual maturities of our debt and non-recourse debt as of June 30, 2024 were as follows: ($ in millions) Debt Non-recourse Debt Total Year 2024 (remaining six months) $ 13 $ 230 $ 243 2025 26 383 409 2026 537 316 853 2027 22 242 264 2028 1,238 187 1,425 Thereafter 3,125 400 3,525 Total $ 4,961 $ 1,758 $ 6,719

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The carrying amounts and estimated fair values of our financial assets and liabilities were as follows: June 30, 2024 Fair Value ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 2,976 $ — $ 3,145 Liabilities: Debt, net (2) 4,885 3,377 1,449 Non-recourse debt, net (2) 1,725 1,710 22 December 31, 2023 Fair Value ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 2,113 $ — $ 2,289 Liabilities: Debt, net (2) 3,049 2,496 483 Non-recourse debt, net (2) 1,466 867 592 (1) Carrying amount net of allowance for financing receivables losses. (2) Carrying amount net of unamortized deferred financing costs and discounts. 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 interest rate swaps discussed below and cash and cash equivalents, restricted cash, accounts receivable and advanced deposits, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. The estimated fair values of our originated and acquired timeshare financing receivables were determined using a discounted cash flow model. Our model incorporates default rates, coupon rates, credit quality and loan terms respective to the portfolio based on current market assumptions for similar types of arrangements. The estimated fair values of our Level 2 derivative financial instruments were determined utilizing projected future cash flows discounted based on an expectation of future interest rates derived from observable market interest rate curves and market volatility. Refer to Note 11: Debt and Non-recourse Debt above. The estimated fair values of our Level 1 debt and non-recourse debt were based on prices in active debt markets. The estimated fair values of our Level 3 debt and non-recourse debt were based on the following: • Debt – based on indicative quotes obtained for similar issuances and projected future cash flows discounted at risk-adjusted rates. • Non-recourse debt – based on projected future cash flows discounted at risk-adjusted rates.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rate for the three months ended June 30, 2024 and 2023 was approximately 60% and 30%, respectively. The effective tax rate for the six months ended June 30, 2024 and 2023 was approximately 80% and 25%, respectively. The effective tax rate increase quarter over quarter is due to the overall change in earnings. The effective tax rate increase year over year is primarily due to the net impact of jurisdictional mix and discrete items relative to income before taxes. The discrete items are primarily comprised of unrecognized tax benefits. The difference between our effective tax rate as compared to the U.S. statutory federal tax rate of 21% is primarily due to the impact of state and foreign income taxes, the jurisdictional mix of earnings, and discrete items, primarily unrecognized tax benefits.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Stock Plan On May 3, 2023, the 2023 Omnibus Incentive Plan (“2023 Plan”) was approved by our stockholders to replace the 2017 Omnibus Incentive Plan and the 2017 Plan for Non-Employee Directors (the “2017 Plans”). The 2023 Plan authorizes the issuance of restricted stock units (“Service RSUs” or “RSUs”), nonqualified stock options (“Options”), time and performance-vesting restricted stock units (“Performance RSUs” or “PSUs”), and stock appreciation rights (“SARs”) to certain employees and directors. Pursuant to the 2023 Plan, 5,240,000 shares of our common stock are reserved for issuance. The 2017 Plans remain in place until all of the awards previously granted thereunder have been paid, forfeited or expired. Shares underlying awards that are canceled or forfeited under the 2017 Plans without the issuance of any shares are added to the 2023 Plan share pool. However, the shares which remained available for issuance under the 2017 Plans are no longer available for issuance, and all future awards will be granted pursuant to the 2023 Plan. On March 4, 2024, we filed a Registration Statement on Form S-8 to register 118,078 shares of common stock, par value $0.01 per share, of HGV’s Common Stock that may be issued under the 2023 Plan in accordance with, and subject to the terms and conditions of, an exception under Rule 303A.08 of the NYSE Listed Company Manual (“Rule 303A.08”). The shares of Common Stock registered represented the number of shares of Bluegreen common stock that were available for issuance under the Bluegreen’s 2021 Incentive Plan immediately prior to the Bluegreen Acquisition, as appropriately adjusted to reflect the Bluegreen Acquisition and assumed by us, in accordance with Rule 303A.08. On March 5, 2024, our Board of Directors approved transaction incentive awards (“Transaction Incentive Awards”) in connection with the Bluegreen Acquisition consisting of Performance RSUs and performance-based cash awards (the “Performance Cash Awards”) for certain executive officers and employees. The Transaction Incentive Awards were granted under, and pursuant to the terms and conditions of, the 2023 Plan, and the award agreements approved by the Compensation Committee. The Performance Cash Awards are $8 million and are payable based on the level of achievement of pre-established performance goals relating to run rate cost savings following an 18-month performance period commencing on the Bluegreen Acquisition Date, and ending on June 30, 2025, except that fifty percent (50%) of the Performance Cash Award is eligible to vest and be payable on September 30, 2024, if certain run rate cost savings goals are achieved by such date. As of June 30, 2024, there were 3,947,956 shares of common stock available for future issuance under the 2023 plan. We recognized share-based compensation expense of $17 million and $15 million for the three months ended June 30, 2024 and 2023 and $26 million and $25 million, for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, unrecognized compensation costs for unvested awards were approximately $70 million, which is expected to be recognized over a weighted average period of 1.6 years. Service RSUs During the six months ended June 30, 2024, we issued 668,033 Service RSUs with a weighted-average grant date fair value of $44.37, which generally vest in equal annual installments over three years from the date of grant. Options During the six months ended June 30, 2024 , we granted 388,084 Options with a weighted-average exercise price of $44.45, which generally vest over three years from the date of the grant. The weighted-average grant date fair value of these Options was $22.63, which was determined using the Black-Scholes-Merton option-pricing model with the assumptions included in the table below. Expected volatility is calculated using the historical volatility of our share price. Risk-free rate is based on the Treasury Constant Maturity Rate closest to the expected life as of the grant date. Expected term is estimated using the vesting period and contractual term of the Options. Expected volatility 47.7 % Dividend yield (1) — % Risk-free rate 4.1% - 4.3% Expected term (in years) 6.0 (1) At the date of grant we had no plans to pay dividends during the expected term of these options. As of June 30, 2024, we had 1,908,377 Options outstanding that were exercisable. Performance RSUs During the six months ended June 30, 2024, we issued 156,809 Performance RSUs with a weighted-average grant date fair value of $44.54. The Performance RSUs are settled at the end of a 3-year performance period, with 50% 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% of the Performance RSUs are subject to the achievement of certain contract sales targets. As part of the Transaction Incentive Awards, we issued 275,477 Performance RSUs with a grant date fair value of $44.32. These Performance RSUs are settled at the end of a 2-year performance period commencing as of the Bluegreen Acquisition Date, with 50% 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% of the Performance RSUs are subject to the achievement of certain run rate cost savings. These Performance RSUs are subject to the executive’s continued employment with the Company. We determined that the performance conditions for our Performance RSUs are probable of achievement and, for the six months ended June 30, 2024, and 2023, 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 ESPP, we issued 2.5 million shares of common stock which may be purchased under the ESPP. The Board of Directors amended the ESPP plan in 2022 to allow eligible employees to purchase shares of our common stock at a price per share not less than 85% of the fair market value per share of common stock on the first day of the Purchase Period or the last day of the Purchase Period, whichever is lower, up to a maximum threshold established by the plan administrator for the offering period. The amendment became effective in 2023. During the three and six months ended June 30, 2024 and 2023, we recognized less than $1 million of compensation expense related to this plan, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following tables present the calculation of our basic and diluted earnings per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations: Three Months Ended June 30, Six Months Ended June 30, ($ and shares outstanding in millions, except per share amounts) 2024 2023 2024 2023 Basic EPS: Numerator: Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 Denominator: Weighted average shares outstanding 103.4 110.9 104.3 111.8 Basic EPS (1) $ 0.02 $ 0.72 $ (0.02) $ 1.37 Diluted EPS: Numerator: Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 Denominator: Weighted average shares outstanding 104.3 112.1 104.3 113.3 Diluted EPS (1) $ 0.02 $ 0.71 $ (0.02) $ 1.35 Basic weighted average shares outstanding 103.4 110.9 104.3 111.8 RSUs (2) , PSUs (3) , Options (4) and ESPP 0.9 1.2 — 1.5 Diluted weighted average shares outstanding 104.3 112.1 104.3 113.3 (1) Earnings per share amounts are calculated using whole numbers. (2) Excludes approximately 220,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 316,000 and 208,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These RSUs could potentially dilute EPS in the future. (3) Excludes approximately 14,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 60,000 and 38,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These PSUs could potentially dilute EPS in the future. (4) Excludes approximately 1,212,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 735,000 and 635,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These Options could potentially dilute EPS in the future. The dilutive effect of outstanding share-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method using average market prices during the period. Potentially dilutive shares of 1,239,081 for the six months ended June 30, 2024, were excluded from the calculation of diluted weighted average shares outstanding and diluted earnings per share as a result of our net loss position. Share Repurchases On May 3, 2023, 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 over a two-year period (the “2023 Repurchase Plan”). The following table summarizes stock repurchase activity under the share repurchase program as of June 30, 2024: (in millions) Shares Cost As of December 31, 2023 4 $ 141 Repurchases 5 199 As of June 30, 2024 9 $ 340 From July 1, 2024 through July 31, 2024, we repurchased approximately 1.1 million shares for $46 million. As of August 1, 2024, we had $114 million of remaining availability under the 2023 Repurchase Plan.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS BRE Ace LLC and 1776 Holding, LLC We hold an 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 an 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 9: 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. Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Equity in earnings from unconsolidated affiliates $ 3 $ 2 $ 8 $ 5 Commissions and other fees 44 56 80 108 We also had $8 million and $19 million of outstanding receivables related to these fee-for-service agreements included in Accounts receivable, net on our condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS We operate our business through the following two reportable 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 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 programs. We also earn revenue from food and beverage, retail and spa outlets at our timeshare properties. The performance of our operating segments, which are also our reportable 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 transactions; (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 and discounts resulting from purchase accounting, and other non-cash and one-time charges. We do not include equity in earnings from unconsolidated affiliates in our measures of segment operating performance. The following table below presents revenues for our reportable segment results which include the acquired Grand Islander and Bluegreen operations, within both segments and as of their respective acquisition dates, reconciled to consolidated amounts: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Revenues: Real estate sales and financing $ 740 $ 604 $ 1,427 $ 1,154 Resort operations and club management (1) 386 320 746 622 Total segment revenues 1,126 924 2,173 1,776 Cost reimbursements 129 97 251 192 Intersegment eliminations (1) (20) (14) (33) (27) Total revenues $ 1,235 $ 1,007 $ 2,391 $ 1,941 (1) Includes charges to the Real estate sales and financing segment from the Resort operations and club management segment for fulfillment of discounted marketing package stays at resorts. The following table presents Adjusted EBITDA for our reportable segments reconciled to net income: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Adjusted EBITDA: Real estate sales and financing (1) $ 193 $ 189 $ 399 $ 358 Resort operations and club management (1) 152 123 286 232 Segment Adjusted EBITDA 345 312 685 590 Acquisition and integration-related expense (48) (13) (157) (30) General and administrative (58) (48) (103) (90) Depreciation and amortization (68) (52) (130) (103) License fee expense (40) (34) (75) (64) Other (loss) gain, net (3) 3 (8) 4 Interest expense (87) (44) (166) (88) Income tax (expense) benefit (3) (35) 8 (52) Equity in earnings from unconsolidated affiliates 3 2 8 5 Impairment expense — (3) (2) (3) Other adjustment items (2) (37) (8) (58) (16) Net income 4 80 2 153 Net income attributable to noncontrolling interest 2 — 4 — Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) These amounts include costs associated with stock-based compensation, restructuring, one-time charges and other non-cash items included within our reportable segments.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Bass Pro Shops Marketing Agreement Commitments In November 2023, we entered into a 10-year exclusive marketing agreement with Bass Pro Shops (“Bass Pro”), a nationally-recognized retailer of fishing, marine, hunting, camping and sports gear, that provides us with the right to market and sell vacation packages at kiosks in Bass Pro’s and Cabela’s retail locations and through other means. This agreement became effective on the Bluegreen Acquisition Date. As a part of this agreement, we are required to make certain minimum annual payments and certain variable payments based upon the number of travel packages sold during the year or the number of Bass Pro and Cabela’s retail locations HGV maintains during the year. As of June 30, 2024, HGV had sales and marketing operations at a total of 132 Bass Pro Shops and Cabela’s Stores, including 12 virtual kiosks. Other Commitments We have fulfilled certain arrangements with developers where we were committed to purchase vacation ownership units or other real estate at a future date to be marketed and sold under our Hilton Grand Vacations brand. As of June 30, 2024, there are no future inventory commitments and we have not entered into new arrangements with developers. 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 six months ended June 30, 2024, we fulfilled $27 million of purchases required under our inventory commitments for properties in Japan. As of June 30, 2024, our remaining obligations were expected to be incurred as follows: ($ in millions) 2024 2025 2026 2027 2028 Thereafter Total Marketing and License Fee Agreements $ 11 $ 49 $ 64 $ 78 $ 83 $ 199 $ 484 Other commitments (1) 7 11 6 1 1 1 27 Total $ 18 $ 60 $ 70 $ 79 $ 84 $ 200 $ 511 (1) Primarily relates to commitments related to information technology and sponsorships. Litigation Contingencies We are involved in litigation arising from the normal course of business, some of which include 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 June 30, 2024, we accrued liabilities of approximately $7 million for all legal matters, none of which relate to the judgment entered against Diamond in March 2022 in connection with a case filed in 2015 ( O’Malley v. Diamond Resorts Management, Inc. ). During the first quarter of 2024, the judgment entered in O’Malley v. Diamond Resorts Management, Inc. was fully satisfied for approximately $104 million. Of this $104 million, we made a payment of approximately $50 million and our insurance policies covered the remaining $54 million. Since we received the portion from our insurance policies, we no longer have an insurance claim receivable within Accounts receivable, net in our unaudited condensed consolidated balance sheet as of June 30, 2024. During the six months ended June 30, 2024, we recognized charges of approximately $2 million to General and administrative in our unaudited condensed consolidated statement of operations that represents the amount of the settlement liability not deemed probable of recovery from the insurance carriers, prior to the full settlement of the matter. In May 2024, we settled an additional legal matter for approximately $13 million that was previously recorded in Accounts payable and accrued expenses. O n July 22, 2024, an adverse interim award was entered in an arbitration related to a matter that existed as of the Bluegreen Acquisition Date involving Bluegreen Vacations Unlimited, Inc., a Bluegreen subsidiary, in connection with an alleged breach of a purchase and sale agreement for The Manhattan Club property in New York, New York. Prior to any decision by the arbitration panel on potential damages for breach, the interim award allows Bluegreen to propose a cure for the breach, which may involve purchases of inventory at The Manhattan Club and assuming the management agreement for The Manhattan Club. The Company is currently evaluating potential cure or other resolution of this matter, which is not currently estimable and could potentially result in a measurement period adjustment related to the liabilities assumed as part of the Bluegreen Acquisition. 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. Surety Bonds We utilize surety bonds related to the sales of VOIs in order to meet regulatory requirements of certain states. The availability, terms and conditions and pricing of such bonding capacity are dependent on, among other things, continued financial strength and stability of the insurance company affiliates providing the bonding capacity, general availability of such capacity and our corporate credit rating. We have commitments from surety providers in the amount of $805 million as of June 30, 2024, which primarily consist of escrow, construction and subsidy related bonds.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On August 7, 2024, our Board of Directors approved a new share repurchase program authorizing us to repurchase up to an aggregate of $500 million of our outstanding shares of common stock over a two-year period which is in addition to the amount remaining under the 2023 Share Repurchase Plan.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements presented herein include all of our assets, liabilities, revenues, expenses and cash flows as well as all entities in which we have a controlling financial interest. 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% of the voting shares of a company or otherwise have a controlling financial interest, including Bluegreen/Big Cedar Vacations LLC, a joint venture in which HGV is deemed to hold a controlling financial interest based on its 51% equity interest (“Big Cedar”), its active role as the day-to-day manager of its activities, and majority voting control of its management committee. HGV acquired its equity interest in Big Cedar as part of the Bluegreen Acquisition. All material intercompany transactions and balances have been eliminated in consolidation. Our accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation. 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, 2023, included in our Annual Report on Form 10-K filed with the SEC on February 29, 2024.
Use of Estimates	Use of Estimates 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.
Noncontrolling Interest	Noncontrolling Interest Noncontrolling interest reflects a third party’s ownership interest in Big Cedar that is consolidated in our unaudited condensed consolidated financial statements but is less than 100% owned by HGV. The noncontrolling interest is recognized as equity in our unaudited condensed consolidated balance sheet and presented separately from the equity attributable to stockholders. The amounts of consolidated net income and comprehensive income attributable to stockholders and noncontrolling interest are separately presented in the unaudited condensed consolidated statements of operations and comprehensive income.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 provides amendments to improve reportable segment disclosure requirements both on an interim and annual basis, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of ASU 2023-07 is expected to impact disclosures only and not have a material impact on our consolidated financial statements or results. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 states that an entity must provide greater disaggregation of its effective tax rate reconciliation disclosure. The ASU also states that an entity must separately disclose net cash taxes paid between federal, state, and foreign jurisdictions. The guidance is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The guidance is to be applied prospectively, although retrospective application is permitted. The adoption of ASU 2023-09 is expected to impact disclosures only and not have a material impact on our consolidated financial statements or results.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Fair Value of Consideration Transferred	The following table presents the preliminary fair value of each class of consideration transferred in relation to the Bluegreen Acquisition as of the Bluegreen Acquisition Date: ($ in millions, except share and per share data) Number of Class A Shares issued and outstanding 12,504,138 Number of Class B Shares issued and outstanding 3,664,117 Number of Class A shares deliverable as equity awards 673,169 Total shares and related equity awards outstanding 16,841,424 Cash consideration to Bluegreen shareholders and equity award holders per share $ 75.00 Purchase price $ 1,263 Repayment of Bluegreen Debt (1) 265 Payment of Seller Transaction Fees (2) 28 Total Consideration Transferred $ 1,556 (1) Reflects the balance of Bluegreen’s debt repaid by HGV. (2) Reflects transaction-related expenses incurred by Bluegreen but paid by HGV.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	($ in millions) Preliminary Amounts Recognized as of the Bluegreen Acquisition Date Assets acquired Cash and cash equivalents $ 71 Restricted cash 44 Accounts receivable 32 Timeshare financing receivables, net 914 Inventory 372 Property and equipment 180 Investment in unconsolidated affiliates 3 Operating lease right-of-use assets 19 Intangible assets 812 Other assets 85 Total assets acquired 2,532 Liabilities assumed Accounts payable, accrued expenses and other 143 Advanced deposits 40 Debt 162 Non-recourse debt 606 Operating lease liabilities 20 Deferred revenue 19 Deferred income tax liabilities 341 Total liabilities assumed 1,331 Net assets acquired $ 1,201 Total consideration transferred $ 1,556 Less: Net assets acquired (1,201) Plus: Noncontrolling interest 158 Goodwill (1) $ 513 (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.
Schedule of Financing Receivables	Acquired timeshare financing receivables with credit deterioration as of the Bluegreen Acquisition Date were as follows: ($ in millions) As of Purchase price $ 914 Allowance for credit losses 197 Premium attributable to other factors (152) Par value $ 959 ($ in millions) As of Purchase price $ 252 Allowance for credit losses 24 Premium attributable to other factors (2) Par value $ 274
Schedule of 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 Bluegreen’s identified intangible assets and their related estimated useful lives: Weighted Average Estimated Useful Life Estimated Fair Trade name 7 $ 30 Management contracts 19 479 Club member relationships 11 36 Capitalized software 3 12 Marketing agreements 17 209 Other contract-related intangible assets 12 46 Total intangible assets acquired $ 812
Schedule of Goodwill	Resort Operations and Club Management Segment Real Estate Sales and Financing Segment Total Consolidated Goodwill $ 174 $ 339 $ 513
Schedule of Business Acquisition, Pro Forma Information	The following unaudited pro forma information presents the combined results of operations of HGV and Bluegreen as if we had completed the Bluegreen Acquisition on January 1, 2023, the first day of our 2023 fiscal year, but using our preliminary fair values of assets and liabilities as of the Bluegreen 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 Bluegreen Acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations. Six Months Ended June 30, ($ in millions) 2024 2023 Revenue $ 2,437 $ 2,449 Net income (2) 115 Bluegreen Results of Operations The following table presents the results of Bluegreen operations included in our unaudited condensed consolidated statement of operations for the period from the Bluegreen Acquisition Date through the second quarter of 2024: ($ in millions) January 17, 2024 to June 30, 2024 Revenue $ 433 Net loss (27)

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues by Product and 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 reportable segments: (i) Real estate sales and financing and (ii) Resort operations and club management . See Note 17: Business Segments for more information related to our segments. ($ in millions) Three Months Ended June 30, Six Months Ended June 30, Real Estate Sales and Financing Segment 2024 2023 2024 2023 Sales of VOIs, net $ 471 $ 355 $ 909 $ 673 Sales, marketing, brand and other fees 167 173 312 331 Interest income 88 65 184 131 Other financing revenue 14 11 22 19 Real estate sales and financing segment revenues $ 740 $ 604 $ 1,427 $ 1,154 ($ in millions) Three Months Ended June 30, Six Months Ended June 30, Resort Operations and Club Management Segment 2024 2023 2024 2023 Club management $ 67 $ 53 $ 130 $ 104 Resort management 104 80 207 160 Rental (1) 181 162 350 309 Ancillary services 14 11 26 22 Resort operations and club management segment revenues $ 366 $ 306 $ 713 $ 595 (1) Excludes intersegment transactions. See Note 17: 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 contracts with customers which are included in Accounts receivable, net and Timeshare financing receivables, net , respectively, on our condensed consolidated balance sheets: ($ in millions) June 30, 2024 December 31, 2023 Receivables from contracts with customers: Accounts receivable, net $ 346 $ 343 Timeshare financing receivables, net 2,976 2,113 Total $ 3,322 $ 2,456 The following table presents the composition of our contract liabilities: ($ in millions) June 30, 2024 December 31, 2023 Contract liabilities: Advanced deposits $ 224 $ 179 Deferred sales of VOIs of projects under construction 51 39 Club activation fees and annual dues 142 97 Bonus point incentive liability (1) 93 83 Deferred maintenance fees 29 12 Other deferred revenue 61 38 (1) The balance includes $55 million and $54 million of bonus point incentive liabilities included in Accounts payable, accrued expenses and other on our condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively. This liability is for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.
Schedule of Deferred Revenue, Deferred Cost of VOI Sales and Deferred Direct Selling Costs from Sales of VOIs Related to Projects under Construction	The following table presents the deferred revenue, deferred cost of VOI sales and deferred direct selling costs from sales of VOIs related to projects under construction: ($ in millions) June 30, 2024 December 31, 2023 Sales of VOIs, net $ 51 $ 39 Cost of VOI sales 15 10 Sales and marketing expense 7 6
Schedule of Remaining Transaction Price Related to Advanced Deposits, Club Activation Fees and Bonus Points Incentive Liability	The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Bonus points incentive liability as of June 30, 2024: ($ in millions) Remaining Recognition Period Recognition Method Advanced deposits $ 224 18 months Upon customer stays Club activation fees 65 7 years Straight-line basis over average inventory holding period Bonus point incentive liability 93 18 - 30 months Upon redemption

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Accounts Receivable, Net of Allowance for Credit Losses	The following table represents our accounts receivable, net of allowance for credit losses: ($ in millions) June 30, 2024 December 31, 2023 Fee-for-service commissions $ 60 $ 57 Real estate and financing 68 87 Resort and club operations 218 199 Tax receivables 159 97 Insurance claims receivable — 54 Other receivables 19 13 Total $ 524 $ 507
Schedule of Changes in Allowance	The changes in our allowance were as follows during the six months ended June 30, 2024: ($ in millions) Fee-for-service commissions Real estate and financing Resort and club operations Total Balance as of December 31, 2023 $ 23 $ 34 $ 3 $ 60 Current period provision for expected credit losses 4 7 12 23 Write-offs charged against the allowance (8) (8) (1) (17) Balance as of June 30, 2024 $ 19 $ 33 $ 14 $ 66

TIMESHARE FINANCING RECEIVABL_2

TIMESHARE FINANCING RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Financing Receivable	The following table presents the components of each portfolio segment by class of timeshare financing receivables: Originated Acquired ($ in millions) June 30, December 31, June 30, December 31, Securitized $ 1,026 $ 770 $ 794 $ 214 Unsecuritized (1) 1,409 1,326 617 551 Timeshare financing receivables, gross $ 2,435 $ 2,096 $ 1,411 $ 765 Unamortized non-credit acquisition premium (2) — — 136 32 Less: allowance for financing receivables losses (613) (500) (393) (279) Timeshare financing receivables, net $ 1,822 $ 1,596 $ 1,154 $ 518 (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)
Schedule of Change in Allowance for Financing Receivables Losses	The changes in our allowance for financing receivables losses were as follows: ($ in millions) Originated Acquired Balance as of December 31, 2023 $ 500 $ 279 Initial allowance for PCD financing receivables acquired during the period (1) — 191 Provision for financing receivables losses (2) 158 1 Write-offs (57) (111) Inventory recoveries — 45 Upgrades (3) 12 (12) Balance as of June 30, 2024 $ 613 $ 393 ($ in millions) Originated Acquired Balance as of December 31, 2022 $ 404 $ 338 Provision for financing receivables losses (2) 71 — Write-offs (33) (28) Inventory recoveries — 8 Upgrades (3) 5 (5) Balance as of June 30, 2023 $ 447 $ 313 (1) The initial allowance determined for receivables with credit deterioration was $197 million as of the Bluegreen Acquisition Date. We also reduced the allowance determined for receivables with credit deterioration for Legacy-Grand Islander by $6 million. (2) For the Originated portfolio segment, this amount includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded timeshare financing receivables. For the Acquired portfolio segment, this amount includes incremental provision for credit loss expense from Acquired loans. (3) Represents the initial change in allowance resulting from upgrades of Acquired loans. Upgraded Acquired loans and their related allowance are included in the Originated portfolio segment.
Schedule of Future Payments Due from Financing Receivables	Our originated timeshare financing receivables as of June 30, 2024 mature as follows: Originated Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2024 (remaining) $ 52 $ 49 $ 101 2025 107 98 205 2026 116 106 222 2027 119 118 237 2028 119 132 251 Thereafter 513 906 1,419 Total $ 1,026 $ 1,409 $ 2,435 Our gross acquired timeshare financing receivables as of June 30, 2024 mature as follows: Acquired Timeshare Financing Receivables ($ in millions) Securitized Unsecuritized Total Year 2024 (remaining) $ 43 $ 32 $ 75 2025 92 66 158 2026 98 68 166 2027 102 71 173 2028 98 75 173 Thereafter 361 305 666 Total $ 794 $ 617 $ 1,411
Schedule of Financing Receivables by Average FICO Score	Our originated gross balances by average FICO score of our originated timeshare financing receivables were as follows: Originated June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 915 $ 425 $ 12 $ 150 $ 1,502 600-699 324 237 3 63 627 <600 40 32 — 5 77 No score (1) 205 9 13 2 229 Total $ 1,484 $ 703 $ 28 $ 220 $ 2,435 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Originated December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 882 $ 403 $ 3 $ — $ 1,288 600-699 311 220 — — 531 <600 39 31 — — 70 No score (1) 196 8 3 — 207 Total $ 1,428 $ 662 $ 6 $ — $ 2,096 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Our gross balances by average FICO score of our acquired timeshare financing receivables were as follows: Acquired June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 222 $ 54 $ 414 $ 690 600-699 159 17 309 485 <600 33 — 40 73 No score (1) 10 148 5 163 Total $ 424 $ 219 $ 768 $ 1,411 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. Acquired December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total FICO score 700+ $ 256 $ 66 $ — $ 322 600-699 189 20 — 209 <600 42 — — 42 No score (1) 12 180 — 192 Total $ 499 $ 266 $ — $ 765 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Schedule of Gross Timeshare Financing Receivables by Origination Year and Average FICO Score	The following table details our gross originated timeshare financing receivables by the origination year and average FICO score as of June 30, 2024: Originated Timeshare Financing Receivables ($ in millions) 2024 2023 2022 2021 2020 Prior Total FICO score 700+ $ 481 $ 443 $ 304 $ 121 $ 28 $ 125 $ 1,502 600-699 181 190 143 53 10 50 627 <600 19 24 19 7 1 7 77 No score (1) 67 67 34 16 10 35 229 Total $ 748 $ 724 $ 500 $ 197 $ 49 $ 217 $ 2,435 Current period gross write-offs $ — $ 2 $ 26 $ 17 $ 3 $ 9 $ 57 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers. The following tables detail our gross acquired timeshare financing receivables by the origination year and average FICO score as of June 30, 2024: Acquired Timeshare Financing Receivables ($ in millions) 2024 2023 2022 2021 2020 Prior Total FICO score 700+ $ 4 $ 248 $ 100 $ 79 $ 64 $ 195 $ 690 600-699 1 143 76 63 46 156 485 <600 — 15 9 9 10 30 73 No score (1) — 35 26 15 19 68 163 Total $ 5 $ 441 $ 211 $ 166 $ 139 $ 449 $ 1,411 Current period gross write-offs $ — $ 28 $ 19 $ 24 $ 16 $ 24 $ 111 (1) Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.
Schedule of Past Due Financing Receivables	The following tables detail an aged analysis of our gross timeshare receivables balance: Originated - Securitized June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 659 $ 257 $ 1 $ 73 $ 990 31 - 90 days past due 13 8 — 1 22 91 - 120 days past due 4 2 — — 6 121 days and greater past due 4 4 — — 8 Total $ 680 $ 271 $ 1 $ 74 $ 1,026 Originated - Unsecuritized June 30, 2024 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 667 $ 295 $ 27 $ 143 $ 1,132 31 - 90 days past due 18 14 — 2 34 91 - 120 days past due 6 8 — 1 15 121 days and greater past due 113 115 — — 228 Total $ 804 $ 432 $ 27 $ 146 $ 1,409 Originated - Securitized December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 577 $ 162 $ — $ — $ 739 31 - 90 days past due 11 8 — — 19 91 - 120 days past due 4 3 — — 7 121 days and greater past due 2 3 — — 5 Total $ 594 $ 176 $ — $ — $ 770 Originated - Unsecuritized December 31, 2023 ($ in millions) Legacy-HGV Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 723 $ 366 $ 6 $ — $ 1,095 31 - 90 days past due 16 18 — — 34 91 - 120 days past due 4 7 — — 11 121 days and greater past due 91 95 — — 186 Total $ 834 $ 486 $ 6 $ — $ 1,326 Acquired - Securitized June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 126 $ 76 $ 558 $ 760 31 - 90 days past due 4 1 19 24 91 - 120 days past due 2 — 5 7 121 days and greater past due 2 — 1 3 Total $ 134 $ 77 $ 583 $ 794 Acquired - Unsecuritized June 30, 2024 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 53 $ 121 $ 144 $ 318 31 - 90 days past due 3 3 8 14 91 - 120 days past due 1 2 8 11 121 days and greater past due 233 16 25 274 Total $ 290 $ 142 $ 185 $ 617 Acquired - Securitized December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 131 $ 71 $ — $ 202 31 - 90 days past due 6 1 — 7 91 - 120 days past due 2 — — 2 121 days and greater past due 3 — — 3 Total $ 142 $ 72 $ — $ 214 Acquired - Unsecuritized December 31, 2023 ($ in millions) Legacy-DRI Legacy-Grand Islander Legacy-Bluegreen Total Current $ 92 $ 177 $ — $ 269 31 - 90 days past due 5 3 — 8 91 - 120 days past due 2 1 — 3 121 days and greater past due 258 13 — 271 Total $ 357 $ 194 $ — $ 551

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory was comprised of the following: ($ in millions) June 30, 2024 December 31, 2023 Completed unsold VOIs $ 1,623 $ 1,259 Construction in process 305 140 Land, infrastructure and other 1 1 Total $ 1,929 $ 1,400
Schedule of Costs of Sales True-ups Relating to VOI Products and Impacts on the Carrying Value of Inventory	The table below presents cost of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory and cost of VOI sales: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Cost of sales true-up (1) $ (4) $ 13 $ 11 $ 29 (1) For the three months ended June 30, 2024, the cost of sales true-up increased cost of VOI sales and decreased inventory. For the six months ended June 30, 2024, the cost of sales true-up decreased cost of VOI sales and increased inventory. For the three and six months ended June 30, 2023, the cost of sales true-up decreased cost of VOI sales and increased inventory.

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Consolidated Variable Interest Entities	Our condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily consisted of the following: ($ in millions) June 30, 2024 December 31, 2023 Restricted cash $ 62 $ 48 Timeshare financing receivables, net 1,535 1,395 Non-recourse debt, net 1,705 1,466

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Related Accumulated Amortization	Intangible assets and related accumulated amortization were as follows: June 30, 2024 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 48 $ (20) $ 28 Management contracts 1,819 (412) 1,407 Club member relationships 175 (67) 108 Capitalized software 242 (144) 98 Marketing agreements 209 (7) 202 Other contract-related intangible assets 46 (2) 44 Total $ 2,539 $ (652) $ 1,887 December 31, 2023 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 18 $ (18) $ — Management contracts 1,340 (347) 993 Club member relationships 139 (57) 82 Capitalized software 207 (124) 83 Total $ 1,704 $ (546) $ 1,158

DEBT AND NON-RECOURSE DEBT (Tab

DEBT AND NON-RECOURSE DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings	The following table details our outstanding debt balance and its associated interest rates: ($ in millions) June 30, 2024 December 31, 2023 Debt (1) Senior secured credit facility Term loan with a rate of 7.829%, due 2028 $ 1,264 $ 1,271 Term loan with a rate of 8.079%, due 2031 898 — Revolver with a rate of 7.688%, due 2026 513 438 Senior notes with a rate of 5.000%, due 2029 850 850 Senior notes with a rate of 4.875%, due 2031 500 500 Senior notes with a rate of 6.625%, due 2032 900 — Other debt (4) 36 33 Total debt, gross 4,961 3,092 Less: unamortized deferred financing costs and discounts (2)(3)(5) (76) (43) Total debt, net $ 4,885 $ 3,049 (1) As of June 30, 2024 and December 31, 2023, weighted-average interest rates were 6.850% and 6.649%, respectively. (2) Amount includes unamortized deferred financing costs related to our term loans and senior notes of $41 million and $26 million, respectively, as of June 30, 2024 and $21 million and $17 million, respectively, as of December 31, 2023. This amount also includes unamortized original issuance discounts of $6 million and $5 million as of June 30, 2024 and December 31, 2023, respectively. (3) Amount does not include unamortized deferred financing costs of $3 million as of June 30, 2024 and December 31, 2023, respectively, related to our revolving facility which are included in Other assets in our unaudited condensed consolidated balance sheets. (4) This amount includes $5 million related to the recourse portion on the NBA Receivables Facility, which is generally limited to the greater of 15% of the outstanding borrowings and $5 million, subject to certain exceptions. (5) Amount also includes unamortized discount of $3 million related to the Bluegreen debt recognized at the Bluegreen Acquisition Date. The following table details our outstanding non-recourse debt balance and associated interest rates: ($ in millions) June 30, December 31, 2023 Non-recourse debt (1) Timeshare Facility with an average rate of 6.530%, due 2027 (2) $ — $ 400 Grand Islander Timeshare Facility with an average rate of 6.716%, due 2029 — 124 HGV Securitized Debt with a weighted average rate of 3.602%, due 2032 53 66 HGV Securitized Debt with a weighted average rate of 2.431%, due 2033 58 70 HGV Securitized Debt with a weighted average rate of 4.304%, due 2034 97 118 HGV Securitized Debt with a weighted average rate of 4.826%, due 2037 155 188 HGV Securitized Debt with a weighted average rate of 5.937%, due 2038 217 264 HGV Securitized Debt with a weighted average rate of 5.685%, due 2038 367 — HGV Securitized Debt with a weighted average rate of 6.419%, due 2039 227 — HGV Securitized Debt with a weighted average rate of 3.658%, due 2039 79 95 Grand Islander Securitized Debt with a weighted average rate of 2.965%, due 2029 — 15 Grand Islander Securitized Debt with a weighted average rate of 3.316%, due 2033 46 55 Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2033 74 87 Bluegreen Securitized Debt with a weighted average rate of 3.117%, due 2032 14 — Bluegreen Securitized Debt with a weighted average rate of 4.019%, due 2034 22 — Bluegreen Securitized Debt with a weighted average rate of 2.597%, due 2036 49 — Bluegreen Securitized Debt with a weighted average rate of 4.599%, due 2037 101 — Bluegreen Securitized Debt with a weighted average rate of 6.321%, due 2038 171 — Quorum Purchase Facility with an average rate of 5.020%, due 2034 7 — NBA Receivables Facility with an average rate of 7.200%, due 2031 (5) 21 — Total non-recourse debt, gross 1,758 1,482 Less: unamortized deferred financing costs and discount (3)(4) (33) (16) Total non-recourse debt, net $ 1,725 $ 1,466 (1) As of June 30, 2024 and December 31, 2023, weighted-average interest rates were 5.075% and 5.095%, respectively. (2) The revolving commitment period of the Timeshare Facility terminates in March 2026; however, the repayment maturity date extends 12 months beyond the commitment termination date to March 2027. (3) Amount relates to securitized debt only and does not include unamortized deferred financing costs of $3 million and $2 million as of June 30, 2024 and December 31, 2023, respectively, relating to our Timeshare Facility included in Other Assets in our condensed consolidated balance sheets. (4) Amount also includes unamortized discount of $2 million related to the Grand Islander securitized debt recognized at the Grand Islander Acquisition Date and unamortized discount of $12 million related to the Bluegreen securitized and non-recourse debt recognized at the Bluegreen Acquisition Date. (5) Recourse on the NBA Receivables Facility is generally limited to the greater of 15% of the outstanding borrowings and $5.0 million, subject to certain exceptions.
Schedule of Derivative Instruments Effect on Other Comprehensive Income	The following table reflects the activity, net of tax, in Accumulated other comprehensive income related to our derivative instruments during the six months ended June 30, 2024: Net unrealized gain on derivative instruments Balance as of December 31, 2023 $ 32 Other comprehensive income before reclassifications, net 11 Reclassifications to net income (8) Balance as of June 30, 2024 $ 35
Schedule of Contractual Maturities of Debt	The contractual maturities of our debt and non-recourse debt as of June 30, 2024 were as follows: ($ in millions) Debt Non-recourse Debt Total Year 2024 (remaining six months) $ 13 $ 230 $ 243 2025 26 383 409 2026 537 316 853 2027 22 242 264 2028 1,238 187 1,425 Thereafter 3,125 400 3,525 Total $ 4,961 $ 1,758 $ 6,719

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Carrying and Estimated Fair Value Amounts	The carrying amounts and estimated fair values of our financial assets and liabilities were as follows: June 30, 2024 Fair Value ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 2,976 $ — $ 3,145 Liabilities: Debt, net (2) 4,885 3,377 1,449 Non-recourse debt, net (2) 1,725 1,710 22 December 31, 2023 Fair Value ($ in millions) Carrying Level 1 Level 3 Assets: Timeshare financing receivables, net (1) $ 2,113 $ — $ 2,289 Liabilities: Debt, net (2) 3,049 2,496 483 Non-recourse debt, net (2) 1,466 867 592 (1) Carrying amount net of allowance for financing receivables losses. (2)

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Valuation Assumptions	The weighted-average grant date fair value of these Options was $22.63, which was determined using the Black-Scholes-Merton option-pricing model with the assumptions included in the table below. Expected volatility is calculated using the historical volatility of our share price. Risk-free rate is based on the Treasury Constant Maturity Rate closest to the expected life as of the grant date. Expected term is estimated using the vesting period and contractual term of the Options. Expected volatility 47.7 % Dividend yield (1) — % Risk-free rate 4.1% - 4.3% Expected term (in years) 6.0 (1) At the date of grant we had no plans to pay dividends during the expected term of these options.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following tables present the calculation of our basic and diluted earnings per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations: Three Months Ended June 30, Six Months Ended June 30, ($ and shares outstanding in millions, except per share amounts) 2024 2023 2024 2023 Basic EPS: Numerator: Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 Denominator: Weighted average shares outstanding 103.4 110.9 104.3 111.8 Basic EPS (1) $ 0.02 $ 0.72 $ (0.02) $ 1.37 Diluted EPS: Numerator: Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 Denominator: Weighted average shares outstanding 104.3 112.1 104.3 113.3 Diluted EPS (1) $ 0.02 $ 0.71 $ (0.02) $ 1.35 Basic weighted average shares outstanding 103.4 110.9 104.3 111.8 RSUs (2) , PSUs (3) , Options (4) and ESPP 0.9 1.2 — 1.5 Diluted weighted average shares outstanding 104.3 112.1 104.3 113.3 (1) Earnings per share amounts are calculated using whole numbers. (2) Excludes approximately 220,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 316,000 and 208,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These RSUs could potentially dilute EPS in the future. (3) Excludes approximately 14,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 60,000 and 38,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These PSUs could potentially dilute EPS in the future. (4) Excludes approximately 1,212,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. Also excludes approximately 735,000 and 635,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2023. These Options could potentially dilute EPS in the future.
Schedule of Stock Repurchase Activity under the Share Repurchase Program	The following table summarizes stock repurchase activity under the share repurchase program as of June 30, 2024: (in millions) Shares Cost As of December 31, 2023 4 $ 141 Repurchases 5 199 As of June 30, 2024 9 $ 340

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule 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 June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Equity in earnings from unconsolidated affiliates $ 3 $ 2 $ 8 $ 5 Commissions and other fees 44 56 80 108

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Operating Performance Reconciled to Consolidated Amounts	The following table below presents revenues for our reportable segment results which include the acquired Grand Islander and Bluegreen operations, within both segments and as of their respective acquisition dates, reconciled to consolidated amounts: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Revenues: Real estate sales and financing $ 740 $ 604 $ 1,427 $ 1,154 Resort operations and club management (1) 386 320 746 622 Total segment revenues 1,126 924 2,173 1,776 Cost reimbursements 129 97 251 192 Intersegment eliminations (1) (20) (14) (33) (27) Total revenues $ 1,235 $ 1,007 $ 2,391 $ 1,941 (1)
Schedule of Adjusted EBITDA for our Reportable Segments Reconciled to Net Income	The following table presents Adjusted EBITDA for our reportable segments reconciled to net income: Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2024 2023 2024 2023 Adjusted EBITDA: Real estate sales and financing (1) $ 193 $ 189 $ 399 $ 358 Resort operations and club management (1) 152 123 286 232 Segment Adjusted EBITDA 345 312 685 590 Acquisition and integration-related expense (48) (13) (157) (30) General and administrative (58) (48) (103) (90) Depreciation and amortization (68) (52) (130) (103) License fee expense (40) (34) (75) (64) Other (loss) gain, net (3) 3 (8) 4 Interest expense (87) (44) (166) (88) Income tax (expense) benefit (3) (35) 8 (52) Equity in earnings from unconsolidated affiliates 3 2 8 5 Impairment expense — (3) (2) (3) Other adjustment items (2) (37) (8) (58) (16) Net income 4 80 2 153 Net income attributable to noncontrolling interest 2 — 4 — Net income (loss) attributable to stockholders $ 2 $ 80 $ (2) $ 153 (1) Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion. (2) These amounts include costs associated with stock-based compensation, restructuring, one-time charges and other non-cash items included within our reportable segments.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Remaining Purchase Obligations	As of June 30, 2024, our remaining obligations were expected to be incurred as follows: ($ in millions) 2024 2025 2026 2027 2028 Thereafter Total Marketing and License Fee Agreements $ 11 $ 49 $ 64 $ 78 $ 83 $ 199 $ 484 Other commitments (1) 7 11 6 1 1 1 27 Total $ 18 $ 60 $ 70 $ 79 $ 84 $ 200 $ 511 (1) Primarily relates to commitments related to information technology and sponsorships.

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION (Details)	Jun. 30, 2024 property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of timeshare properties	200
Bluegreen/Big Cedar Vacations LLC
Noncontrolling Interest [Line Items]
Ownership percentage	51%

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
	Jan. 17, 2024	Dec. 01, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Adjustments goodwill include decrease in intangible assets			$ (10)		$ 2
Goodwill			1,933		1,933		$ 1,418
Acquisition and integration-related expense
Restructuring Cost and Reserve [Line Items]
Expenses			$ 48	$ 13	$ 157	$ 30
Bluegreen/Big Cedar Vacations LLC
Restructuring Cost and Reserve [Line Items]
Ownership percentage			51%		51%
Bluegreen Vacations Holdings Corporation
Restructuring Cost and Reserve [Line Items]
Total consideration transferred	$ 1,556
Timeshare financing receivables repayment term					10 years
Asset acquisition, consideration transferred, liabilities incurred and repaid					$ 265
Goodwill	513
Cash and cash equivalents	71
Restricted cash	44
Accounts receivable	32
Securitized timeshare financing receivables, net	1,331
Inventory	372
Other assets	$ 85
Bluegreen Vacations Holdings Corporation | Acquisition and integration-related expense
Restructuring Cost and Reserve [Line Items]
Expenses			$ 37		137
Grand Islander
Restructuring Cost and Reserve [Line Items]
Total consideration transferred		$ 117
Goodwill			4		4
Business combination, contingent consideration, liability, noncurrent		$ 4
Cash and cash equivalents			8		8
Restricted cash			28		28
Accounts receivable			5		5
Securitized timeshare financing, receivables			53		53
Securitized timeshare financing receivables, net			199		199
Inventory			15		15
Other assets			2		2
Non-recourse debt			193		193
Other liabilities			4		4
Grand Islander | Asset Not Pledged as Collateral
Restructuring Cost and Reserve [Line Items]
Unsecuritized timeshare financing, receivables			$ 128		$ 128
Grand Islander | Common Stock
Restructuring Cost and Reserve [Line Items]
Outstanding equity interests		100%

ACQUISITIONS - Schedule of Fair

ACQUISITIONS - Schedule of Fair Value of Consideration Transferred (Details) - Bluegreen Vacations Holdings Corporation $ / shares in Units, $ in Millions	Jan. 17, 2024 USD ($) $ / shares shares
Restructuring Cost and Reserve [Line Items]
Business combination, number of shares issuable (in shares) | shares	16,841,424
Cash consideration to Bluegreen shareholders and equity award holders per share | $ / shares	$ 75
Purchase price | $	$ 1,263
Repayment of Bluegreen Debt | $	265
Payment of Seller Transaction Fees | $	28
Total Consideration Transferred | $	$ 1,556
Common Class A
Restructuring Cost and Reserve [Line Items]
Business combination, number of shares issuable (in shares) | shares	12,504,138
Common Class B
Restructuring Cost and Reserve [Line Items]
Business combination, number of shares issuable (in shares) | shares	3,664,117
Class A Shares Deliverable As Equity Awards
Restructuring Cost and Reserve [Line Items]
Business combination, number of shares issuable (in shares) | shares	673,169

ACQUISITIONS - Schedule of Fa_2

ACQUISITIONS - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jan. 17, 2024	Dec. 01, 2023	Jun. 30, 2024	Dec. 31, 2023
Assets acquired
Timeshare financing receivables, net			$ 2,976	$ 2,113
Operating lease right-of-use assets			84	61
Liabilities assumed
Net assets acquired	$ (1,201)
Less: Net assets acquired	(1,201)
Goodwill			1,933	$ 1,418
Bluegreen Vacations Holdings Corporation
Assets acquired
Cash and cash equivalents	71
Restricted cash	44
Accounts receivable	32
Timeshare financing receivables, net	914
Inventory	372
Property and equipment	180
Investment in unconsolidated affiliates	3
Operating lease right-of-use assets	19
Intangible assets	812		812
Other assets	85
Total assets acquired	2,532
Liabilities assumed
Accounts payable, accrued expenses and other	143
Advanced deposits	40
Debt	162
Non-recourse debt	606
Operating lease liabilities	20
Deferred revenue	19
Deferred income tax liabilities	341
Total liabilities assumed	1,331
Net assets acquired	1,201
Total consideration transferred	1,556
Less: Net assets acquired	1,201
Noncontrolling interest	158
Goodwill	$ 513
Grand Islander
Assets acquired
Cash and cash equivalents			8
Restricted cash			28
Accounts receivable			5
Inventory			15
Other assets			2
Liabilities assumed
Total liabilities assumed			199
Total consideration transferred		$ 117
Goodwill			$ 4

ACQUISITIONS - Schedule of Fina

ACQUISITIONS - Schedule of Financing Receivables (Details) - Bluegreen Vacations Holdings Corporation $ in Millions	Jan. 17, 2024 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 914
Allowance for credit losses	197
Premium attributable to other factors	(152)
Par value	$ 959

ACQUISITIONS - Schedule of The

ACQUISITIONS - Schedule of The Fair Value of Intangible Assets and Estimated Remaining Use (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jan. 17, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Estimated fair value	$ 652		$ 546
Trade name
Business Acquisition [Line Items]
Estimated fair value	20		18
Club member relationships
Business Acquisition [Line Items]
Estimated fair value	67		57
Capitalized software
Business Acquisition [Line Items]
Estimated fair value	144		$ 124
Other contract-related intangible assets
Business Acquisition [Line Items]
Estimated fair value	$ 2
Bluegreen Vacations Holdings Corporation
Business Acquisition [Line Items]
Estimated fair value		$ 812
Bluegreen Vacations Holdings Corporation | Trade name
Business Acquisition [Line Items]
Weighted average estimated useful life		7 years
Estimated fair value		$ 30
Bluegreen Vacations Holdings Corporation | Management contracts
Business Acquisition [Line Items]
Weighted average estimated useful life		19 years
Estimated fair value		$ 479
Bluegreen Vacations Holdings Corporation | Club member relationships
Business Acquisition [Line Items]
Weighted average estimated useful life		11 years
Estimated fair value		$ 36
Bluegreen Vacations Holdings Corporation | Capitalized software
Business Acquisition [Line Items]
Weighted average estimated useful life		3 years
Estimated fair value		$ 12
Bluegreen Vacations Holdings Corporation | Marketing agreements
Business Acquisition [Line Items]
Weighted average estimated useful life		17 years
Estimated fair value		$ 209
Bluegreen Vacations Holdings Corporation | Other contract-related intangible assets
Business Acquisition [Line Items]
Weighted average estimated useful life		12 years
Estimated fair value		$ 46

ACQUISITIONS - Schedule of Good

ACQUISITIONS - Schedule of Goodwill (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jan. 17, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 1,933		$ 1,418
Bluegreen Vacations Holdings Corporation
Business Acquisition [Line Items]
Goodwill		$ 513
Resort Operations and Club Management Segment | Bluegreen Vacations Holdings Corporation
Business Acquisition [Line Items]
Goodwill		174
Real Estate Sales and Financing Segment | Bluegreen Vacations Holdings Corporation
Business Acquisition [Line Items]
Goodwill		$ 339

ACQUISITIONS - Schedule of Acqu

ACQUISITIONS - Schedule of Acquisition Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Total revenues	$ 1,235	$ 1,007	$ 2,391	$ 1,941
Net income	$ 4	$ 80	2	153
Bluegreen Vacations Holdings Corporation
Business Acquisition [Line Items]
Total revenues			2,437	2,449
Net income			$ (2)	$ 115

ACQUISITIONS - Results of Opera

ACQUISITIONS - Results of Operations (Details) - Bluegreen Vacations Holdings Corporation $ in Millions	5 Months Ended
	Jun. 30, 2024 USD ($)
Business Acquisition [Line Items]
Revenue	$ 433
Net loss	$ (27)

ACQUISITIONS - Schedule of Prel

ACQUISITIONS - Schedule of Preliminary Estimates of the Fair Value of Assets Acquired and Liabilities Assumed in the Grand Islander Acquisition (Details) - Grand Islander $ in Millions	Dec. 01, 2023 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 252
Allowance for credit losses	24
Premium attributable to other factors	(2)
Par value	$ 274

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Disaggregation Of Revenue [Line Items]
Number of reportable segments | segment		2
Revenue earned that was included in the contract liabilities balance	$ 68	$ 150
Sales of VOIs
Disaggregation Of Revenue [Line Items]
Contract assets	$ 2	2	$ 13
Recognized sales		48
Offset by deferrals sales		$ 59

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregated Revenues by Product and Segment from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation Of Revenue [Line Items]
Total revenues	$ 1,235	$ 1,007	$ 2,391	$ 1,941
Real Estate Sales and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues	740	604	1,427	1,154
Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	366	306	713	595
Sales of VOIs, net
Disaggregation Of Revenue [Line Items]
Total revenues	471	355	909	673
Sales of VOIs, net | Real Estate Sales and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues	471	355	909	673
Sales, marketing, brand and other fees
Disaggregation Of Revenue [Line Items]
Total revenues	167	173	312	331
Sales, marketing, brand and other fees | Real Estate Sales and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues	167	173	312	331
Interest income | Real Estate Sales and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues	88	65	184	131
Other financing revenue | Real Estate Sales and Financing Segment
Disaggregation Of Revenue [Line Items]
Total revenues	14	11	22	19
Club management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	67	53	130	104
Resort management | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	104	80	207	160
Rental | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	181	162	350	309
Ancillary services | Resort Operations and Club Management Segment
Disaggregation Of Revenue [Line Items]
Total revenues	$ 14	$ 11	$ 26	$ 22

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Accounts Receivable, Net and Timeshare Financing Receivables, Net from Contracts with Customers (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Total	$ 3,322	$ 2,456
Accounts receivable, net
Disaggregation Of Revenue [Line Items]
Total	346	343
Timeshare financing receivables, net
Disaggregation Of Revenue [Line Items]
Total	$ 2,976	$ 2,113

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS - Composition of our Contract Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Bonus point incentive liability	$ 55	$ 54
Advanced deposits
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	224	179
Deferred sales of VOIs of projects under construction
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	51	39
Club activation fees and annual dues
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	142	97
Bonus point incentive liability
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	93	83
Deferred maintenance fees
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	29	12
Other deferred revenue
Disaggregation Of Revenue [Line Items]
Contract with customer, liability	$ 61	$ 38

REVENUE FROM CONTRACTS WITH C_7

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Deferred Revenue, Deferred Cost of VOI Sales and Deferred Direct Selling Costs from Sales of VOIs Related to Projects under Construction (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Sales of VOIs, net	$ 321	$ 215
Deferred Sales of VOIs
Disaggregation Of Revenue [Line Items]
Sales of VOIs, net	51	39
Cost of VOI sales	15	10
Sales and marketing expense	$ 7	$ 6

REVENUE FROM CONTRACTS WITH C_8

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Remaining Transaction Price Related to Advanced Deposits, Club Activation Fees and Bonus Points Incentive Liability (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Advanced deposits
Disaggregation Of Revenue [Line Items]
Remaining Transaction Price	$ 224
Recognition Period	18 months
Club activation fees
Disaggregation Of Revenue [Line Items]
Remaining Transaction Price	$ 65
Recognition Period	7 years
Bonus point incentive liability
Disaggregation Of Revenue [Line Items]
Remaining Transaction Price	$ 93
Bonus point incentive liability | Minimum
Disaggregation Of Revenue [Line Items]
Recognition Period	18 months
Bonus point incentive liability | Maximum
Disaggregation Of Revenue [Line Items]
Recognition Period	30 months

ACCOUNTS RECEIVABLE - Summary o

ACCOUNTS RECEIVABLE - Summary of Accounts Receivable, Net of Allowance for Credit Losses (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	$ 524	$ 507
Fee-for-service commissions
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	60	57
Real estate and financing
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	68	87
Resort and club operations
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	218	199
Tax receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	159	97
Insurance claims receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	0	54
Other receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, net of allowances	$ 19	$ 13

ACCOUNTS RECEIVABLE - Changes i

ACCOUNTS RECEIVABLE - Changes in Allowance for Fee-for-Service Commissions (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2023	$ 60
Current period provision for expected credit losses	23
Write-offs charged against the allowance	(17)
Balance at June 30, 2024	66
Fee-for-service commissions
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2023	23
Current period provision for expected credit losses	4
Write-offs charged against the allowance	(8)
Balance at June 30, 2024	19
Real Estate Sales and Financing Segment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2023	34
Current period provision for expected credit losses	7
Write-offs charged against the allowance	(8)
Balance at June 30, 2024	33
Resort and club management
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2023	3
Current period provision for expected credit losses	12
Write-offs charged against the allowance	(1)
Balance at June 30, 2024	$ 14

TIMESHARE FINANCING RECEIVABL_3

TIMESHARE FINANCING RECEIVABLES - Schedule of Timeshare Financing Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Jan. 17, 2024	Dec. 31, 2023	Dec. 01, 2023	Jun. 30, 2023	Dec. 31, 2022	Aug. 02, 2021
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, net	$ 2,976				$ 2,113
Diamond Acquisition
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium									$ 97
Grand Islander
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium						$ 2
Bluegreen Vacations Holdings Corporation
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium	152
Timeshare financing receivables, net				$ 914
Originated
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	2,435				2,096
Unamortized non-credit acquisition premium	0				0
Less: allowance for financing receivables losses	(613)				(500)		$ (447)	$ (404)
Timeshare financing receivables, net	1,822				1,596
Acquired
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	1,411				765
Unamortized non-credit acquisition premium	136				32
Less: allowance for financing receivables losses	(393)				(279)		$ (313)	$ (338)
Timeshare financing receivables, net	1,154				518
Acquired | Diamond Acquisition
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium	18				26
Acquired | Grand Islander
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium	1				1
Acquired | Bluegreen Vacations Holdings Corporation
Accounts Notes And Loans Receivable [Line Items]
Unamortized non-credit acquisition premium	117
Securitized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross		$ 375	$ 240
Securitized | Originated
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	1,026				770
Securitized | Acquired
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	794				214
Unsecuritized | Originated
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	1,409				1,326
Unsecuritized | Acquired
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	$ 617				$ 551

TIMESHARE FINANCING RECEIVABL_4

TIMESHARE FINANCING RECEIVABLES - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	May 31, 2024	Apr. 30, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Increase decrease in variable consideration	$ 158	$ 71
Accrued interest receivable	37	$ 36
Timeshare financing receivable not accruing interest	257				$ 208
Legacy-DRI
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivable not accruing interest	295				279
Securitized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross			$ 375	$ 240
Originated
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	2,435				2,096
Interest receivable outstanding	$ 17				17
Financing receivable, weighted average interest rate (as a percent)	15.20%
Financing receivable, weighted average remaining term (in years)	8 years 4 months 24 days
Originated | Securitized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	$ 1,026				770
Originated | Minimum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	1.50%
Originated | Maximum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	25.80%
Acquired
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	$ 1,411				765
Interest receivable outstanding	$ 10				4
Financing receivable, weighted average interest rate (as a percent)	14.90%
Financing receivable, weighted average remaining term (in years)	7 years 3 months 18 days
Acquired | Securitized
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	$ 794				214
Acquired | Minimum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	2%
Acquired | Maximum
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, stated interest rate (as a percent)	25%
Secured Debt | Asset Pledged as Collateral
Accounts Notes And Loans Receivable [Line Items]
Timeshare financing receivables, gross	$ 9				$ 415
5.75% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount				$ 101
Debt instrument, stated interest rate (as a percent)				5.75%
5.99% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount			$ 57	$ 58
Debt instrument, stated interest rate (as a percent)			5.99%	5.99%
6.62% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount				$ 46
Debt instrument, stated interest rate (as a percent)				6.62%
6.42% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount				$ 35
Debt instrument, stated interest rate (as a percent)				8.85%
5.50% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount			$ 217
Debt instrument, stated interest rate (as a percent)			5.50%
5.65% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount			$ 80
Debt instrument, stated interest rate (as a percent)			5.65%
6.91% Timeshare Facility
Accounts Notes And Loans Receivable [Line Items]
Debt instrument face amount			$ 21
Debt instrument, stated interest rate (as a percent)			6.91%

TIMESHARE FINANCING RECEIVABL_5

TIMESHARE FINANCING RECEIVABLES - Schedule of Change in Allowance For Financing Receivables Losses (Details) - USD ($) $ in Millions		6 Months Ended
	Jan. 17, 2024	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for financing receivables losses		$ 159	$ 71
Bluegreen Vacations Holdings Corporation
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial allowance for PCD financing receivables acquired during the period	$ 197
Legacy-Grand Islander
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial allowance for PCD financing receivables acquired during the period		6
Originated
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for financing receivable losses, beginning balance		500	404
Initial allowance for PCD financing receivables acquired during the period		0
Provision for financing receivables losses		158	71
Write-offs		(57)	(33)
Inventory recoveries		0	0
Upgrades		12	5
Allowance for financing receivable losses, ending balance		613	447
Acquired
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for financing receivable losses, beginning balance		279	338
Initial allowance for PCD financing receivables acquired during the period		191
Provision for financing receivables losses		1	0
Write-offs		(111)	(28)
Inventory recoveries		45	8
Upgrades		(12)	(5)
Allowance for financing receivable losses, ending balance		$ 393	$ 313

TIMESHARE FINANCING RECEIVABL_6

TIMESHARE FINANCING RECEIVABLES - Maturities of Financing Receivables (Details) $ in Millions	Jun. 30, 2024 USD ($)
Originated
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	$ 101
2025	205
2026	222
2027	237
2028	251
Thereafter	1,419
Total	2,435
Acquired
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	75
2025	158
2026	166
2027	173
2028	173
Thereafter	666
Total	1,411
Securitized | Originated
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	52
2025	107
2026	116
2027	119
2028	119
Thereafter	513
Total	1,026
Securitized | Acquired
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	43
2025	92
2026	98
2027	102
2028	98
Thereafter	361
Total	794
Unsecuritized | Originated
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	49
2025	98
2026	106
2027	118
2028	132
Thereafter	906
Total	1,409
Unsecuritized | Acquired
Accounts Notes And Loans Receivable [Line Items]
2024 (remaining)	32
2025	66
2026	68
2027	71
2028	75
Thereafter	305
Total	$ 617

TIMESHARE FINANCING RECEIVABL_7

TIMESHARE FINANCING RECEIVABLES - Schedule of Gross Timeshare Financing Receivables Balances by Average FICO Score (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	$ 2,435	$ 2,096
Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	1,411	765
Legacy-HGV | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	1,484	1,428
Legacy-DRI | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	703	662
Legacy-DRI | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	424	499
Legacy-Grand Islander | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	28	6
Legacy-Grand Islander | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	219	266
Legacy-Bluegreen | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	220	0
Legacy-Bluegreen | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	768	0
700+ | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	1,502	1,288
700+ | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	690	322
700+ | Legacy-HGV | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	915	882
700+ | Legacy-DRI | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	425	403
700+ | Legacy-DRI | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	222	256
700+ | Legacy-Grand Islander | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	12	3
700+ | Legacy-Grand Islander | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	54	66
700+ | Legacy-Bluegreen | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	150	0
700+ | Legacy-Bluegreen | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	414	0
600-699 | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	627	531
600-699 | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	485	209
600-699 | Legacy-HGV | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	324	311
600-699 | Legacy-DRI | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	237	220
600-699 | Legacy-DRI | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	159	189
600-699 | Legacy-Grand Islander | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	3	0
600-699 | Legacy-Grand Islander | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	17	20
600-699 | Legacy-Bluegreen | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	63	0
600-699 | Legacy-Bluegreen | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	309	0
Less than 600 | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	77	70
Less than 600 | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	73	42
Less than 600 | Legacy-HGV | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	40	39
Less than 600 | Legacy-DRI | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	32	31
Less than 600 | Legacy-DRI | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	33	42
Less than 600 | Legacy-Grand Islander | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	0	0
Less than 600 | Legacy-Grand Islander | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	0	0
Less than 600 | Legacy-Bluegreen | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	5	0
Less than 600 | Legacy-Bluegreen | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	40	0
No score | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	229	207
No score | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	163	192
No score | Legacy-HGV | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	205	196
No score | Legacy-DRI | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	9	8
No score | Legacy-DRI | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	10	12
No score | Legacy-Grand Islander | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	13	3
No score | Legacy-Grand Islander | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	148	180
No score | Legacy-Bluegreen | Originated
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	2	0
No score | Legacy-Bluegreen | Acquired
Financing Receivable, Recorded Investment [Line Items]
Timeshare financing receivables, gross	$ 5	$ 0

TIMESHARE FINANCING RECEIVABL_8

TIMESHARE FINANCING RECEIVABLES - Schedule of Gross Timeshare Financing Receivables by Origination Year and Average FICO Score (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Originated
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	$ 748
One year prior to current fiscal year	724
Two years prior to current fiscal year	500
Three years prior to current fiscal year	197
Four years prior to current fiscal year	49
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	217
Timeshare financing receivables, gross	2,435		$ 2,096
2024	0
2023	2
2022	26
2021	17
2020	3
Prior	9
Total	57	$ 33
Originated | 700+
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	481
One year prior to current fiscal year	443
Two years prior to current fiscal year	304
Three years prior to current fiscal year	121
Four years prior to current fiscal year	28
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	125
Timeshare financing receivables, gross	1,502		1,288
Originated | 600-699
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	181
One year prior to current fiscal year	190
Two years prior to current fiscal year	143
Three years prior to current fiscal year	53
Four years prior to current fiscal year	10
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	50
Timeshare financing receivables, gross	627		531
Originated | Less than 600
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	19
One year prior to current fiscal year	24
Two years prior to current fiscal year	19
Three years prior to current fiscal year	7
Four years prior to current fiscal year	1
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	7
Timeshare financing receivables, gross	77		70
Originated | No score
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	67
One year prior to current fiscal year	67
Two years prior to current fiscal year	34
Three years prior to current fiscal year	16
Four years prior to current fiscal year	10
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	35
Timeshare financing receivables, gross	229		207
Acquired
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	5
One year prior to current fiscal year	441
Two years prior to current fiscal year	211
Three years prior to current fiscal year	166
Four years prior to current fiscal year	139
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	449
Timeshare financing receivables, gross	1,411		765
2024	0
2023	28
2022	19
2021	24
2020	16
Prior	24
Total	111	$ 28
Acquired | 700+
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	4
One year prior to current fiscal year	248
Two years prior to current fiscal year	100
Three years prior to current fiscal year	79
Four years prior to current fiscal year	64
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	195
Timeshare financing receivables, gross	690		322
Acquired | 600-699
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	1
One year prior to current fiscal year	143
Two years prior to current fiscal year	76
Three years prior to current fiscal year	63
Four years prior to current fiscal year	46
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	156
Timeshare financing receivables, gross	485		209
Acquired | Less than 600
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	0
One year prior to current fiscal year	15
Two years prior to current fiscal year	9
Three years prior to current fiscal year	9
Four years prior to current fiscal year	10
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	30
Timeshare financing receivables, gross	73		42
Acquired | No score
Financing Receivable, Recorded Investment [Line Items]
Current fiscal year	0
One year prior to current fiscal year	35
Two years prior to current fiscal year	26
Three years prior to current fiscal year	15
Four years prior to current fiscal year	19
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	68
Timeshare financing receivables, gross	$ 163		$ 192

TIMESHARE FINANCING RECEIVABL_9

TIMESHARE FINANCING RECEIVABLES - Past Due Financing Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Dec. 31, 2023
Securitized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross		$ 375	$ 240
Originated
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	$ 2,435			$ 2,096
Originated | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1,484			1,428
Originated | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	703			662
Originated | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	28			6
Originated | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	220			0
Originated | Securitized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1,026			770
Originated | Securitized | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	990			739
Originated | Securitized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	22			19
Originated | Securitized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	6			7
Originated | Securitized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	8			5
Originated | Securitized | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	680			594
Originated | Securitized | Legacy-HGV | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	659			577
Originated | Securitized | Legacy-HGV | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	13			11
Originated | Securitized | Legacy-HGV | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	4			4
Originated | Securitized | Legacy-HGV | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	4			2
Originated | Securitized | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	271			176
Originated | Securitized | Legacy-DRI | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	257			162
Originated | Securitized | Legacy-DRI | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	8			8
Originated | Securitized | Legacy-DRI | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	2			3
Originated | Securitized | Legacy-DRI | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	4			3
Originated | Securitized | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			0
Originated | Securitized | Legacy-Grand Islander | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			0
Originated | Securitized | Legacy-Grand Islander | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Securitized | Legacy-Grand Islander | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Securitized | Legacy-Grand Islander | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Securitized | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	74			0
Originated | Securitized | Legacy-Bluegreen | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	73			0
Originated | Securitized | Legacy-Bluegreen | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			0
Originated | Securitized | Legacy-Bluegreen | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Securitized | Legacy-Bluegreen | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Unsecuritized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1,409			1,326
Originated | Unsecuritized | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1,132			1,095
Originated | Unsecuritized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	34			34
Originated | Unsecuritized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	15			11
Originated | Unsecuritized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	228			186
Originated | Unsecuritized | Legacy-HGV
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	804			834
Originated | Unsecuritized | Legacy-HGV | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	667			723
Originated | Unsecuritized | Legacy-HGV | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	18			16
Originated | Unsecuritized | Legacy-HGV | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	6			4
Originated | Unsecuritized | Legacy-HGV | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	113			91
Originated | Unsecuritized | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	432			486
Originated | Unsecuritized | Legacy-DRI | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	295			366
Originated | Unsecuritized | Legacy-DRI | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	14			18
Originated | Unsecuritized | Legacy-DRI | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	8			7
Originated | Unsecuritized | Legacy-DRI | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	115			95
Originated | Unsecuritized | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	27			6
Originated | Unsecuritized | Legacy-Grand Islander | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	27			6
Originated | Unsecuritized | Legacy-Grand Islander | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Unsecuritized | Legacy-Grand Islander | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Unsecuritized | Legacy-Grand Islander | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Originated | Unsecuritized | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	146			0
Originated | Unsecuritized | Legacy-Bluegreen | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	143			0
Originated | Unsecuritized | Legacy-Bluegreen | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	2			0
Originated | Unsecuritized | Legacy-Bluegreen | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			0
Originated | Unsecuritized | Legacy-Bluegreen | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1,411			765
Acquired | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	424			499
Acquired | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	219			266
Acquired | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	768			0
Acquired | Securitized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	794			214
Acquired | Securitized | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	760			202
Acquired | Securitized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	24			7
Acquired | Securitized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	7			2
Acquired | Securitized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	3			3
Acquired | Securitized | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	134			142
Acquired | Securitized | Legacy-DRI | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	126			131
Acquired | Securitized | Legacy-DRI | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	4			6
Acquired | Securitized | Legacy-DRI | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	2			2
Acquired | Securitized | Legacy-DRI | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	2			3
Acquired | Securitized | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	77			72
Acquired | Securitized | Legacy-Grand Islander | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	76			71
Acquired | Securitized | Legacy-Grand Islander | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			1
Acquired | Securitized | Legacy-Grand Islander | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Acquired | Securitized | Legacy-Grand Islander | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	0			0
Acquired | Securitized | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	583			0
Acquired | Securitized | Legacy-Bluegreen | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	558			0
Acquired | Securitized | Legacy-Bluegreen | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	19			0
Acquired | Securitized | Legacy-Bluegreen | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	5			0
Acquired | Securitized | Legacy-Bluegreen | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			0
Acquired | Unsecuritized
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	617			551
Acquired | Unsecuritized | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	318			269
Acquired | Unsecuritized | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	14			8
Acquired | Unsecuritized | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	11			3
Acquired | Unsecuritized | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	274			271
Acquired | Unsecuritized | Legacy-DRI
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	290			357
Acquired | Unsecuritized | Legacy-DRI | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	53			92
Acquired | Unsecuritized | Legacy-DRI | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	3			5
Acquired | Unsecuritized | Legacy-DRI | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	1			2
Acquired | Unsecuritized | Legacy-DRI | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	233			258
Acquired | Unsecuritized | Legacy-Grand Islander
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	142			194
Acquired | Unsecuritized | Legacy-Grand Islander | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	121			177
Acquired | Unsecuritized | Legacy-Grand Islander | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	3			3
Acquired | Unsecuritized | Legacy-Grand Islander | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	2			1
Acquired | Unsecuritized | Legacy-Grand Islander | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	16			13
Acquired | Unsecuritized | Legacy-Bluegreen
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	185			0
Acquired | Unsecuritized | Legacy-Bluegreen | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	144			0
Acquired | Unsecuritized | Legacy-Bluegreen | 31 - 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	8			0
Acquired | Unsecuritized | Legacy-Bluegreen | 91 - 120 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	8			0
Acquired | Unsecuritized | Legacy-Bluegreen | 121 days and greater past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Timeshare financing receivables, gross	$ 25			$ 0

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Completed unsold VOIs	$ 1,623	$ 1,259
Construction in process	305	140
Land, infrastructure and other	1	1
Total	$ 1,929	$ 1,400

INVENTORY - Narrative (Details)

INVENTORY - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) property
Inventory Disclosure [Abstract]
Timeshare units transfer from property and equipment to inventory | $	$ 69
Number of properties under construction | property	2

INVENTORY - Schedule of Costs o

INVENTORY - Schedule of Costs of Sales True-ups Relating to VOI Products (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cost of sales true-up
Inventory [Line Items]
Expenses	$ (4)	$ 13	$ 11	$ 29

CONSOLIDATED VARIABLE INTERES_3

CONSOLIDATED VARIABLE INTEREST ENTITIES - Additional Information (Details)	Jun. 30, 2024 entity
Variable Interest Entity [Line Items]
Variable interest entity number of entities consolidated	17

CONSOLIDATED VARIABLE INTERES_4

CONSOLIDATED VARIABLE INTEREST ENTITIES - Schedule of Consolidated Variable Interest Entities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Variable Interest Entity [Line Items]
Restricted cash	$ 273	$ 296	$ 336
Timeshare financing receivables, net	2,976	2,113
Variable Interest Entities
Variable Interest Entity [Line Items]
Restricted cash	62	48
Timeshare financing receivables, net	1,535	1,395
Total debt, gross	$ 1,705	$ 1,466

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) Affiliate	Dec. 31, 2023 USD ($) Affiliate
Schedule Of Investments [Line Items]
Number of unconsolidated affiliates | Affiliate	2	2
Debt, net	$ 4,885	$ 3,049
Investments in unconsolidated affiliates	78	71
Variable Interest Entities
Schedule Of Investments [Line Items]
Junior subordinated debentures outstanding	1,705	1,466
Junior subordinated debentures | Revolving Credit Facility | Variable Interest Entities
Schedule Of Investments [Line Items]
Junior subordinated debentures outstanding	171
BRE Ace LLC and 1776 Holding, LLC
Schedule Of Investments [Line Items]
Debt, net	368	427
Two Unconsolidated Affiliates
Schedule Of Investments [Line Items]
Investments in unconsolidated affiliates	$ 78	$ 71

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,539	$ 1,704
Accumulated Amortization	(652)	(546)
Net Carrying Amount	1,887	1,158
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	48	18
Accumulated Amortization	(20)	(18)
Net Carrying Amount	28	0
Management contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,819	1,340
Accumulated Amortization	(412)	(347)
Net Carrying Amount	1,407	993
Club member relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	175	139
Accumulated Amortization	(67)	(57)
Net Carrying Amount	108	82
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	242	207
Accumulated Amortization	(144)	(124)
Net Carrying Amount	98	$ 83
Marketing agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	209
Accumulated Amortization	(7)
Net Carrying Amount	202
Other contract-related intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46
Accumulated Amortization	(2)
Net Carrying Amount	$ 44

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jan. 17, 2024
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 55,000,000	$ 38,000,000	$ 106,000,000	$ 78,000,000
Impairment of intangible assets	0	$ 0	0	$ 0
Bluegreen Vacations Holdings Corporation
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 812,000,000		$ 812,000,000		$ 812,000,000

DEBT AND NON-RECOURSE DEBT - Sc

DEBT AND NON-RECOURSE DEBT - Schedule of Outstanding Borrowings (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jan. 17, 2024	Jan. 10, 2024
Debt Instrument [Line Items]
Total debt, net	$ 4,885	$ 3,049
Debt instrument, average interest rate	6.85%	6.649%
Debt issuance discounts	$ 6	$ 5
Bluegreen Acquisition
Debt Instrument [Line Items]
Debt issuance discounts			$ 3
Grand Islander Timeshare Facility with an average rate of 6.716%, due 2029
Debt Instrument [Line Items]
Debt issuance discounts				$ 2
Bluegreen Securitized Debt With A Weighted Average Rate Of 3.354%, Due 2031 | Bluegreen Acquisition
Debt Instrument [Line Items]
Debt issuance discounts	$ 12
NBA Receivables Facility
Debt Instrument [Line Items]
Outstanding borrowings, percentage	0.15
Recourse portion subject to exceptions	$ 5
Line of Credit
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ 41	21
Line of Credit | Term loan with a rate of 7.829%, due 2028
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	7.829%
Line of Credit | Term loan with a rate of 8.079%, due 2031
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	8.079%
Senior Notes
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ 26	17
Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	5%
Senior Notes | Senior notes with a rate of 4.875%, due 2031
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	4.875%
Senior Notes | Senior notes with a rate of 6.625%, due 2032
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	6.625%			6.625%
Senior Notes | Timeshare Facility Due 2025
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ 3	2
Secured Debt
Debt Instrument [Line Items]
Total debt, gross	1,758	1,482
Less: unamortized deferred financing costs and discounts	(33)	(16)
Total debt, net	$ 1,725	$ 1,466
Debt instrument, average interest rate	5.075%	5.095%
Secured Debt | Timeshare Facility with an average rate of 0.000%, due 2027
Debt Instrument [Line Items]
Total debt, gross	$ 0	$ 400
Debt instrument, average interest rate	6.53%
Secured Debt | Grand Islander Timeshare Facility with an average rate of 6.716%, due 2029
Debt Instrument [Line Items]
Total debt, gross	$ 0	124
Debt instrument, average interest rate	6.716%
Secured Debt | HGV Securitized Debt with a weighted average rate of 3.602%, due 2032
Debt Instrument [Line Items]
Total debt, gross	$ 53	66
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]
Total debt, gross	$ 58	70
Debt instrument, average interest rate	2.431%
Secured Debt | HGV Securitized Debt with a weighted average rate of 4.304%, due 2034
Debt Instrument [Line Items]
Total debt, gross	$ 97	118
Debt instrument, average interest rate	4.304%
Secured Debt | HGV Securitized Debt with a weighted average rate of 4.826%, due 2037
Debt Instrument [Line Items]
Total debt, gross	$ 155	188
Debt instrument, average interest rate	4.826%
Secured Debt | HGV Securitized Debt with a weighted average rate of 5.937%, due 2038
Debt Instrument [Line Items]
Total debt, gross	$ 217	264
Debt instrument, average interest rate	5.937%
Secured Debt | HGV Securitized Debt with a weighted average rate of 5.685%, due 2038
Debt Instrument [Line Items]
Total debt, gross	$ 367	0
Debt instrument, average interest rate	5.685%
Secured Debt | HGV Securitized Debt with a weighted average rate of 6.419%, due 2039
Debt Instrument [Line Items]
Total debt, gross	$ 227	0
Debt instrument, average interest rate	6.419%
Secured Debt | HGV Securitized Debt with a weighted average rate of 3.658%, due 2039
Debt Instrument [Line Items]
Total debt, gross	$ 79	95
Debt instrument, average interest rate	3.658%
Secured Debt | Grand Islander Securitized Debt with a weighted average rate of 2.965%, due 2029
Debt Instrument [Line Items]
Total debt, gross	$ 0	15
Debt instrument, average interest rate	2.965%
Secured Debt | Grand Islander Securitized Debt with a weighted average rate of 3.316%, due 2033
Debt Instrument [Line Items]
Total debt, gross	$ 46	55
Debt instrument, average interest rate	3.316%
Secured Debt | Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2033
Debt Instrument [Line Items]
Total debt, gross	$ 74	87
Debt instrument, average interest rate	2.16%
Secured Debt | Bluegreen Securitized Debt with a weighted average rate of 3.117%, due 2032
Debt Instrument [Line Items]
Total debt, gross	$ 14	0
Debt instrument, average interest rate	3.117%
Secured Debt | Bluegreen Securitized Debt with a weighted average rate of 4.019%, due 2034
Debt Instrument [Line Items]
Total debt, gross	$ 22	0
Debt instrument, average interest rate	4.019%
Secured Debt | Bluegreen Securitized Debt with a weighted average rate of 2.597%, due 2036
Debt Instrument [Line Items]
Total debt, gross	$ 49	0
Debt instrument, average interest rate	2.597%
Secured Debt | Bluegreen Securitized Debt with a weighted average rate of 4.599%, due 2037
Debt Instrument [Line Items]
Total debt, gross	$ 101	0
Debt instrument, average interest rate	4.599%
Secured Debt | Bluegreen Securitized Debt with a weighted average rate of 6.321%, due 2038
Debt Instrument [Line Items]
Total debt, gross	$ 171	0
Debt instrument, average interest rate	6.321%
Secured Debt | Quorum Purchase Facility with an average rate of 5.020%, due 2034
Debt Instrument [Line Items]
Total debt, gross	$ 7	0
Debt instrument, average interest rate	5.02%
Secured Debt | NBA Receivables Facility with an average rate of 7.240%, due 2031
Debt Instrument [Line Items]
Total debt, gross	$ 21	0
Debt instrument, average interest rate	7.20%
Secured Debt | NBA Receivables Facility
Debt Instrument [Line Items]
Total debt, gross	$ 5
Revolving Credit Facility
Debt Instrument [Line Items]
Unamortized deferred financing costs	3	3
Revolving Credit Facility | Revolver with a rate of 7.688%, due 2026
Debt Instrument [Line Items]
Total debt, gross	513	438
Revolving Credit Facility | Line of Credit | Term loan with a rate of 7.829%, due 2028
Debt Instrument [Line Items]
Total debt, gross	1,264	1,271
Revolving Credit Facility | Line of Credit | Term loan with a rate of 8.079%, due 2031
Debt Instrument [Line Items]
Total debt, gross	$ 898	0
Revolving Credit Facility | Line of Credit | Revolver with a rate of 7.688%, due 2026
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	7.688%
Revolving Credit Facility | Senior Notes | Senior notes with a rate of 5.000%, due 2029
Debt Instrument [Line Items]
Total debt, gross	$ 850	850
Revolving Credit Facility | Senior Notes | Senior notes with a rate of 4.875%, due 2031
Debt Instrument [Line Items]
Total debt, gross	500	500
Revolving Credit Facility | Senior Notes | Senior notes with a rate of 6.625%, due 2032
Debt Instrument [Line Items]
Total debt, gross	900	0
Revolving Credit Facility | Senior Notes | Other debt
Debt Instrument [Line Items]
Total debt, gross	36	33
Revolving Credit Facility | Senior Notes and Other Debt
Debt Instrument [Line Items]
Total debt, gross	4,961	3,092
Less: unamortized deferred financing costs and discounts	(76)	(43)
Total debt, net	$ 4,885	$ 3,049

DEBT AND NON-RECOURSE DEBT - Ad

DEBT AND NON-RECOURSE DEBT - Additional Information (Details) - USD ($) $ in Millions	Jul. 18, 2024	Apr. 08, 2024	Apr. 07, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Jan. 17, 2024	Jan. 10, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Remaining borrowing capacity				$ 446
Accumulated other comprehensive loss, qualifying as hedge				46					$ 42
Reserves Related to Non-Recourse Debt
Debt Instrument [Line Items]
Restricted cash				62					48
Securitized
Debt Instrument [Line Items]
Timeshare financing receivables, gross					$ 375	$ 240
Variable Interest Entities
Debt Instrument [Line Items]
Junior subordinated debentures outstanding				1,705					1,466
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs				3					3
Cash Collateral Secured Credit Facilities
Debt Instrument [Line Items]
Letters of credit outstanding, amount				1
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs				26					17
Line of Credit
Debt Instrument [Line Items]
Debt issuance costs				41					21
Senior Secured Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount				41
Secured Debt
Debt Instrument [Line Items]
Junior subordinated debentures outstanding				$ 1,758					1,482
Senior notes with a rate of 6.625%, due 2032 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount							$ 900	$ 900
Debt instrument, stated interest rate (as a percent)				6.625%				6.625%
Senior notes with a rate of 6.625%, due 2032 | Senior Notes | Revolving Credit Facility
Debt Instrument [Line Items]
Junior subordinated debentures outstanding				$ 900					0
Term loan with a rate of 7.829%, due 2028 | Line of Credit
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)				7.829%
Term loan with a rate of 7.829%, due 2028 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.50%	2.75%
Derivative fixed interest rate				1.55%
Derivative, notional amount				$ 550
Junior subordinated debentures outstanding				$ 1,264					1,271
Term loan with a rate of 8.079%, due 2031 | Line of Credit
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)				8.079%
Term loan with a rate of 8.079%, due 2031 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.75%
Junior subordinated debentures outstanding				$ 898					0
Term loan with a rate of 8.079%, due 2031 | Line of Credit | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Junior subordinated debentures | Revolving Credit Facility | Variable Interest Entities
Debt Instrument [Line Items]
Junior subordinated debentures outstanding				171
Timeshare Facility Due 2025 | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs				3					$ 2
Timeshare Facility Due 2025 | Secured Debt
Debt Instrument [Line Items]
Remaining borrowing capacity				$ 750
Timeshare Facility
Debt Instrument [Line Items]
Debt issuance costs					5	4
5.75% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount						$ 101
Debt instrument, stated interest rate (as a percent)						5.75%
5.99% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount					$ 57	$ 58
Debt instrument, stated interest rate (as a percent)					5.99%	5.99%
6.62% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount						$ 46
Debt instrument, stated interest rate (as a percent)						6.62%
6.42% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount						$ 35
Debt instrument, stated interest rate (as a percent)						8.85%
5.50% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount					$ 217
Debt instrument, stated interest rate (as a percent)					5.50%
5.65% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount					$ 80
Debt instrument, stated interest rate (as a percent)					5.65%
6.91% Timeshare Facility
Debt Instrument [Line Items]
Debt instrument face amount					$ 21
Debt instrument, stated interest rate (as a percent)					6.91%

DEBT AND NON-RECOURSE DEBT - _2

DEBT AND NON-RECOURSE DEBT - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024
AOCI Related to Derivative Instruments [Roll Forward]
Other comprehensive income before reclassifications, net	$ (1)	$ 4	$ 5	$ (10)
Net unrealized gain on derivative instruments
AOCI Related to Derivative Instruments [Roll Forward]
Balance as of December 31, 2023		$ 32			$ 32
Other comprehensive income before reclassifications, net					11
Reclassifications to net income					(8)
Balance as of June 30, 2024	$ 35				$ 35

DEBT AND NON-RECOURSE DEBT - _3

DEBT AND NON-RECOURSE DEBT - Schedule of Contractual Maturities of Debt (Details) $ in Millions	Jun. 30, 2024 USD ($)
Total
Debt Instrument [Line Items]
2024 (remaining six months)	$ 243
2025	409
2026	853
2027	264
2028	1,425
Thereafter	3,525
Total	6,719
Debt
Debt Instrument [Line Items]
2024 (remaining six months)	13
2025	26
2026	537
2027	22
2028	1,238
Thereafter	3,125
Total	4,961
Non-recourse Debt
Debt Instrument [Line Items]
2024 (remaining six months)	230
2025	383
2026	316
2027	242
2028	187
Thereafter	400
Total	$ 1,758

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Assets:
Timeshare financing receivables, net	$ 2,976	$ 2,113
Liabilities:
Debt, net	4,885	3,049
Non-recourse debt, net	1,725	1,466
Level 1
Assets:
Timeshare financing receivables, net	0	0
Liabilities:
Debt, net	3,377	2,496
Non-recourse debt, net	1,710	867
Level 3
Assets:
Timeshare financing receivables, net	3,145	2,289
Liabilities:
Debt, net	1,449	483
Non-recourse debt, net	$ 22	$ 592

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	60%	30%	80%	25%

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 05, 2024	May 03, 2023	Mar. 31, 2017	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 04, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares outstanding (in shares)				102,485,583		102,485,583			105,961,160
Common stock, par value (in dollars per share)				$ 0.01		$ 0.01			$ 0.01
Share-based compensation expense				$ 17	$ 15	$ 26	$ 25
Unrecognized compensation costs for unvested awards				$ 70		$ 70
Unrecognized compensation costs, weighted average period for recognition						1 year 7 months 6 days
Shares issued (in shares)						275,477
Stock options exercisable (in shares)				1,908,377		1,908,377
Performance Cash Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance cash awards	$ 8
Performance period	18 months
Award vesting percentage	50%
Service Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)						668,033
Grant date fair value (in dollars per share)						$ 44.37
Award vesting period						3 years
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period						3 years
Shares issued (in shares)						388,084
Exercise price (in dollars per share)						$ 44.45
Grant date fair value (in dollars per share)						$ 22.63
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued (in shares)						156,809
Grant date fair value (in dollars per share)						$ 44.54
Award vesting period						3 years
Performance Shares | Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage						50%
Performance Shares | Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage						50%
Transaction Incentive Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value (in dollars per share)						$ 44.32
Award vesting period						2 years
Transaction Incentive Awards | Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage						50%
Transaction Incentive Awards | Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage						50%
2023 Omnibus
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale of stock, number of shares issued in transaction		5,240,000
Common stock, shares outstanding (in shares)								118,078
Common stock, par value (in dollars per share)								$ 0.01
Shares of common stock available for future issuance (in shares)				3,947,956		3,947,956
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock available for future issuance (in shares)			2,500,000
Share-based compensation expense				$ 1	$ 1	$ 1	$ 1
Percentage of fair market value per share of common stock			85%

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of Stock Option Valuation Assumptions (Details) - Employee Stock Option	6 Months Ended
	Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	47.70%
Dividend yield	0%
Risk-free rate, Minimum	4.10%
Risk-free rate, Maximum	4.30%
Expected term (in years)	6 years

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income (loss) attributable to stockholders	$ 2	$ 80	$ (2)	$ 153
Denominator:
Weighted average shares outstanding, basic (in shares)	103,400,000	110,900,000	104,300,000	111,800,000
Basic EPS (in dollars per share)	$ 0.02	$ 0.72	$ (0.02)	$ 1.37
Denominator:
Weighted average shares outstanding, diluted (in shares)	104,300,000	112,100,000	104,300,000	113,300,000
Diluted EPS (in dollars per share)	$ 0.02	$ 0.71	$ (0.02)	$ 1.35
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares (in shares)			1,239,081
RSUs
Denominator:
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares (in shares)	220,000	316,000		208,000
PSUs
Denominator:
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares (in shares)	14,000	60,000		38,000
Employee Stock Option
Denominator:
Potentially dilutive shares excluded from calculation of diluted weighted average shares outstanding and diluted earnings per shares (in shares)	1,212,000	735,000		635,000
RSUs, PSUs and Options and ESPP
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	900,000	1,200,000	0	1,500,000

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - USD ($) $ in Millions		6 Months Ended
	May 03, 2023	Jun. 30, 2024	Aug. 01, 2024	Jul. 31, 2024
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 (in shares)		1,239,081
Subsequent Event
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of authorized stock repurchase program				$ 46
Number of shares authorized to be repurchased (in shares)				1,100,000
2023 Repurchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of authorized stock repurchase program	$ 500
Term of stock repurchase program	2 years
2023 Repurchase Plan | Subsequent Event
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Remaining authorized repurchase amount			$ 114

EARNINGS PER SHARE - Schedule_2

EARNINGS PER SHARE - Schedule of Stock Repurchase Activity under the Share Repurchase Program (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Shares
Beginning balance, shares | shares	4,000,000
Repurchase, shares | shares	5,000,000
Ending balance, shares | shares	9,000,000
Cost
Beginning balance, cost | $	$ 141
Repurchases, cost | $	199
Ending balance, cost | $	$ 340

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Amounts Included in Condensed Consolidated Statements of Operations Related to Fee for Service Arrangement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Equity in earnings from unconsolidated affiliates	$ 3	$ 2	$ 8	$ 5
Commissions and other fees	1,235	1,007	2,391	1,941
Related Party
Related Party Transaction [Line Items]
Equity in earnings from unconsolidated affiliates	3	2	8	5
Commissions and other fees	$ 44	$ 56	$ 80	$ 108

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Related Party
Related Party Transaction [Line Items]
Other receivables	$ 8	$ 19

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Segment Operating Performance Reconciled to Consolidated Amounts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 1,235	$ 1,007	$ 2,391	$ 1,941
Real estate sales and financing
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	740	604	1,427	1,154
Resort operations and club management
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	366	306	713	595
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	1,126	924	2,173	1,776
Operating Segments | Real estate sales and financing
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	740	604	1,427	1,154
Operating Segments | Resort operations and club management
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	386	320	746	622
Cost reimbursements
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	129	97	251	192
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ (20)	$ (14)	$ (33)	$ (27)

BUSINESS SEGMENTS - Schedule _2

BUSINESS SEGMENTS - Schedule of Adjusted EBITDA for our Reportable Segments Reconciled to Net Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
General and administrative	$ (58)	$ (48)	$ (103)	$ (90)
Depreciation and amortization	(68)	(52)	(130)	(103)
Other (loss) gain, net	(3)	3	(8)	4
Interest expense	(87)	(44)	(166)	(88)
Income tax (expense) benefit	(3)	(35)	8	(52)
Equity in earnings from unconsolidated affiliates	3	2	8	5
Impairment expense	0	(3)	(2)	(3)
Net income	4	80	2	153
Net income attributable to noncontrolling interest	2	0	4	0
Net income (loss) attributable to stockholders	2	80	(2)	153
Operating Segments | Real estate sales and financing
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	193	189	399	358
Operating Segments | Resort operations and club management
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	152	123	286	232
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	345	312	685	590
Acquisition and integration-related expense	(48)	(13)	(157)	(30)
General and administrative	(58)	(48)	(103)	(90)
Depreciation and amortization	(68)	(52)	(130)	(103)
License fee expense	(40)	(34)	(75)	(64)
Other (loss) gain, net	(3)	3	(8)	4
Interest expense	(87)	(44)	(166)	(88)
Income tax (expense) benefit	(3)	(35)	8	(52)
Equity in earnings from unconsolidated affiliates	3	2	8	5
Impairment expense	0	(3)	(2)	(3)
Other adjustment items	$ (37)	$ (8)	$ (58)	$ (16)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended
	May 31, 2024 USD ($)	Nov. 30, 2023	Mar. 31, 2024 USD ($)	Jun. 30, 2024 USD ($) store kiosk
Long-term Purchase Commitment [Line Items]
Reasonably estimable of possible losses				$ 7
Payments of settlements	$ 13
Insurance deductible expense			$ 54
Insurance Claims
Long-term Purchase Commitment [Line Items]
Decrease in insurance refund recovery				2
Surety Bond
Long-term Purchase Commitment [Line Items]
Contractual obligation				$ 805
Diamond Acquisition
Long-term Purchase Commitment [Line Items]
Damages sought			104
Payments of settlements			$ 50
Marketing and License Fee Agreements
Long-term Purchase Commitment [Line Items]
Purchase commitment, period (in years)		10 years
Number of stores | store				132
Number of virtual kiosks | kiosk				12
Inventory Purchase Obligations | JAPAN
Long-term Purchase Commitment [Line Items]
Vacation ownership intervals commitment				$ 27

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Remaining Purchase Obligations (Details) $ in Millions	Jun. 30, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
2024 (remaining)	$ 18
2025	60
2026	70
2027	79
2028	84
Thereafter	200
Total	511
Marketing and License Fee Agreements
Long-term Purchase Commitment [Line Items]
2024 (remaining)	11
2025	49
2026	64
2027	78
2028	83
Thereafter	199
Total	484
Other Commitments
Long-term Purchase Commitment [Line Items]
2024 (remaining)	7
2025	11
2026	6
2027	1
2028	1
Thereafter	1
Total	$ 27

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($) $ in Millions	Aug. 07, 2024	Jul. 31, 2024
Subsequent Event [Line Items]
Amount of authorized stock repurchase program		$ 46
Two Thousand Twenty Four Repurchase Plan Member
Subsequent Event [Line Items]
Amount of authorized stock repurchase program	$ 500
Term of stock repurchase program	2 years