Hilton Grand Vacations Provides Update On Impact From Maui Wildfires; Says Kā'anapali Beach Club Is Not Accepting Guest Reservations
Portfolio Pulse from Benzinga Newsdesk
Hilton Grand Vacations (HGV) has provided an update on the impact of the Maui wildfires on its operations. The company anticipates a significant decline in contract sales activity at its Maui properties for the rest of the year. It estimates that the impact to Q3 2023 will be $20 to $25 million in contract sales and $12 to $15 million in Adjusted EBITDA.
September 05, 2023 | 8:23 pm
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Hilton Grand Vacations is expected to see a significant decline in contract sales at its Maui properties due to the wildfires. The impact to Q3 2023 is estimated to be $20 to $25 million in contract sales and $12 to $15 million in Adjusted EBITDA.
The wildfires in Maui are directly impacting Hilton Grand Vacations' operations, leading to a significant decline in contract sales. This is expected to negatively affect the company's Q3 2023 earnings, which could lead to a decrease in the company's stock price in the short term.
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