Hilton Grand Vacations (HGV) Operating Expenses (2016 - 2026)

For the trailing twelve months through Jun 30, 2026, Operating Expenses at Hilton Grand Vacations was $4.75 billion, up 4.9% year-over-year; for FY2025, it came in at $4.59 billion, up 1.4% from FY2024.

• Annual Operating Expenses has increased for five consecutive years, with a five-year compound annual growth rate of 32.1% (FY2020 to FY2025).
• In prior years, Hilton Grand Vacations' Operating Expenses was $4.52 billion in FY2024 (+34.4%), $3.37 billion in FY2023 (+4.4%), $3.22 billion in FY2022 (+65.8%) and $1.95 billion in FY2021 (+70.8%).
• The Q2 2026 figure stands as the highest quarterly Operating Expenses in data going back to Q1 2016.
• On a year-over-year basis, Operating Expenses has increased in each of the last five quarters, with growth averaging 11.1% over the last eight quarters.
• The strongest year-over-year quarter for Operating Expenses in the past five years was Q3 2021, with growth of 242.4%; the weakest was Q3 2023, with a decline of 4.7%.
• According to Business Quant data, Operating Expenses for the three prior quarters was $1.14 billion (Q1 2026), $1.17 billion (Q4 2025) and $1.18 billion (Q3 2025).