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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 outstanding12,504,138
Number of Class B Shares issued and outstanding3,664,117
Number of Class A shares deliverable as equity awards673,169
Total shares and related equity awards outstanding16,841,424
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 cash44 
Accounts receivable
32 
Timeshare financing receivables, net914 
Inventory372 
Property and equipment180 
Investment in unconsolidated affiliates
3 
Operating lease right-of-use assets19 
Intangible assets812 
Other assets85 
Total assets acquired2,532 
Liabilities assumed
Accounts payable, accrued expenses and other143 
Advanced deposits
40 
Debt
162 
Non-recourse debt
606 
Operating lease liabilities
20 
Deferred revenue19 
Deferred income tax liabilities341 
Total liabilities assumed1,331 
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
January 17, 2024
Purchase price$914 
Allowance for credit losses197 
Premium attributable to other factors(152)
Par value$959 
The following table presents the acquired assets with credit deterioration as of the Grand Islander Acquisition Date:
($ in millions)As of
December 1, 2023
Purchase price$252 
Allowance for credit losses24 
Premium attributable to other factors(2)
Par value$274 
Schedule of Estimates Of The Fair Value of Intangible Assets and Estimated Remaining Useful Lives
The following table presents our preliminary estimates of the fair values of the acquired Bluegreen’s identified intangible assets and their related estimated useful lives:
Weighted Average Estimated Useful Life
(in years)		Estimated Fair
Value
($ in millions)
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 SegmentReal Estate Sales and Financing SegmentTotal 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)20242023
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)