HIGHOutside partyCounterparty
Hilton license agreement
“10-K Item 1A: 'we are party to a license agreement with Hilton granting us the right to use the Hilton-branded trademarks, trade names and related intellectual property in our business'”
HGV · Concentration risk · 10-K extracted
Hilton Grand Vacations (HGV) concentration risks
Updated
The most significant concentration Hilton Grand Vacations discloses is Hilton license agreement, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Hilton Grand Vacations’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
Florida
“10-K Item 1: 'A significant number of our properties and VOIs are concentrated in Florida, Europe, Hawaii, South Carolina, California, Arizona, Nevada, and Virginia.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile combines a high-share counterparty dependency and a moderate geographic tilt that together shape both the strategic optionality and the operational risk of the business. The dominant exposure is the license agreement with Hilton granting the right to use Hilton-branded trademarks and related intellectual property — a high-share dependency in the sense that the company's marketing proposition, brand recognition, and customer acquisition are built on that licensing relationship. If the license were modified, terminated, or disrupted, it would affect the company's ability to compete in the vacation ownership market where brand affiliation is a key purchase driver. The geographic exposure is moderate in size: a significant number of properties and vacation ownership interests are concentrated in Florida, Europe, Hawaii, South Carolina, California, Arizona, Nevada, and Virginia. This is a structural feature of the resort and vacation ownership business — inventory is fixed, and regional economic or demand shifts affect sales volumes at specific resorts without the ability to relocate capacity. No single market percentage is disclosed, so the geographic tilt cannot be further ranked quantitatively from the filing alone. The two exposures interact: the brand dependency amplifies the geographic concentration by linking the company's ability to sell vacation ownership interests in specific locations to the continued strength and terms of a single licensing arrangement. Monitoring the Hilton license relationship and regional consumer demand trends are the two most consequential due-diligence areas in this profile.
For the engine’s reasoning on HGV’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Resorts & Casinos
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BYD | Boyd Gaming Corporation | 1 | 1 | 0 | 2 |
| HGV● | Hilton Grand Vacations Inc. | 1 | 1 | 0 | 2 |
| MCRI | Monarch Casino & Resort, Inc. | 1 | 1 | 0 | 2 |
| CZR | Caesars Entertainment, Inc. | 1 | 0 | 0 | 1 |
| LVS | Las Vegas Sands Corp. | 1 | 0 | 0 | 1 |
| MGM | MGM Resorts International | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.