ORLANDO - Hilton Grand Vacations Inc . (NYSE:HGV), a leading global timeshare company, has announced the appointment of Gail Mandel as the newest member of its board of directors. The appointment increases the board's size from nine to 10 members.
Gail Mandel brings a wealth of experience in the hospitality and financial sectors to the table. She currently serves as the managing director of Focused Point Ventures and holds board positions at several companies, including Sabre (NASDAQ:SABR) Corporation (NASDAQ: SABR) and Dave & Buster's Entertainment Inc. (NASDAQ: PLAY). Mandel's previous experience includes her role as president and CEO of Wyndham Destination Network (LON:NETW), where she oversaw a significant divestiture and a series of acquisitions, contributing to the company's growth.
With her extensive background, Mandel is expected to provide valuable insights and guidance to Hilton Grand Vacations as it continues to develop and market high-quality vacation ownership resorts. Her expertise in investment analysis, capital allocation, and leadership training will support the company's strategic direction.
Len Potter, the chairman of Hilton Grand Vacations' board of directors, expressed enthusiasm about Mandel's addition, citing her financial acumen, strategic development skills, and hospitality experience as assets that will greatly benefit the organization.
Hilton Grand Vacations, headquartered in Orlando, Florida, is known for its exclusive vacation ownership partnership with Hilton and has built a reputation for delivering exceptional service and memorable vacation experiences to its guests and over 700,000 club members.
The information for this news article is based on a press release statement from Hilton Grand Vacations Inc.
In other recent news, Hilton Grand Vacations has been making significant strides in the timeshare industry. The company's Q1 2024 performance was robust, with contract sales reaching $631 million and an EBITDA of $270 million, largely due to the contribution from Bluegreen Vacations (NYSE:BXG), which was acquired earlier this year. Hilton Grand Vacations has also been on the radar of several analysts. Deutsche Bank (ETR:DBKGn) raised its price target for the company to $56.00, highlighting the promising early progress in achieving synergies from the Bluegreen acquisition. Truist Securities also adjusted its outlook, increasing the price target to $71.00 and revising its financial projections for the company upwards. Barclays (LON:BARC) maintained its overweight rating on the company, with a price target of $54.00, after a series of investor meetings with Hilton Grand Vacations' management. These recent developments indicate a positive outlook for Hilton Grand Vacations in the timeshare industry.
InvestingPro Insights
As Hilton Grand Vacations Inc. (NYSE:HGV) welcomes Gail Mandel to its board of directors, the company's financial and market metrics provide a snapshot into its current standing. According to InvestingPro data, Hilton Grand Vacations boasts a market capitalization of $4.19 billion, reflecting the scale of its operations within the timeshare industry. The company's Price to Earnings (P/E) ratio stands at 18.61, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at a lower 11.14, hinting at a potentially more attractive valuation when considering normalized earnings.
The company's revenue growth is also notable, with a quarterly increase of 23.24% as of Q1 2024, showcasing its ability to expand its top-line results. This aligns with one of the InvestingPro Tips that analysts anticipate sales growth in the current year for Hilton Grand Vacations, which could be a positive indicator for investors looking at the company's future potential.
Adding to the company's financial health, another InvestingPro Tip highlights that Hilton Grand Vacations' liquid assets exceed its short-term obligations, suggesting a strong liquidity position that can support its operations and potential strategic initiatives.
For those interested in deeper analysis and additional insights, InvestingPro offers a range of other tips that can help investors make informed decisions. Currently, there are 6 additional InvestingPro Tips available for Hilton Grand Vacations, which can be accessed by visiting: https://www.investing.com/pro/HGV. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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