Hilton Grand Vacations Announces Departure of Chief Financial Officer and Reaffirms Guidance

Grand Vacations Inc.
(the “Company”) (NYSE:HGV) announced that
its Board of Directors terminated James E. Mikolaichik as Executive Vice
President and Chief Financial Officer, effective today, for conduct and
behavior not consistent with the Company’s policies. Mr. Mikolaichik’s
termination was not related to any issues involving the Company’s
business, strategy, operations, performance, financial reporting or
internal controls.

“I’m confident in the quality and depth of talent in our finance and
accounting teams and our experienced Chief Accounting Officer Allen
Klingsick,” says Mark Wang, president and CEO. “They will ensure
operational and financial reporting continuity until a new CFO is named.”

The Company reaffirms its 2018 guidance and long-term growth objectives
as discussed on its second quarter 2018 earnings conference call held on
August 2, 2018. The Company remains committed to its current growth and
investment strategy, which is progressing ahead of schedule. Further, it
believes the capital-efficient inventory investments it is making in new
and existing markets will accelerate adjusted EBITDA and adjusted free
cash flow growth over the next several years.

The Company has begun a nationwide executive search for a new chief
financial officer.

About Hilton Grand Vacations Inc.

Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global
timeshare company. With headquarters in Orlando, Fla., Hilton Grand
Vacations develops, markets and operates a system of brand-name,
high-quality vacation ownership resorts in select vacation destinations.
The Company also manages and operates two innovative club membership
programs: Hilton Grand Vacations Club® and The Hilton Club®,
providing exclusive exchange, leisure travel and reservation services
for more than 295,000 Club Members. For more information, visit www.hgv.com
and www.hiltongrandvacations.com.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are based on our management’s beliefs,
expectations and assumptions and information currently available to our
management, and are subject to risks and uncertainties. Actual results
could differ materially because of factors such as: inherent business,
financial and operating risks of the timeshare industry; adverse
economic or market conditions that may affect the purchasing and
vacationing decisions of consumers or otherwise harm our business;
intense competition in the timeshare industry, which could lead to lower
revenue or operating margins; the termination of material
fee-for-service agreements with third parties; the ability of the
Company to manage risks associated with our international activities,
including complying with laws and regulations affecting our
international operations; exposure to increased economic and operational
uncertainties from expanding global operations, including the effects of
foreign currency exchange; potential liability under anti-corruption and
other laws resulting from our global operations; changes in tax rates
and exposure to additional tax liabilities; the impact of future changes
in legislation, regulations or accounting pronouncements; acquisitions,
joint ventures, and strategic alliances that that may not result in
expected benefits and that may have an adverse effect on our business;
our dependence on development activities to secure inventory;
cyber-attacks and security vulnerabilities that could lead to reduced
revenue, increased costs, liability claims, or harm to our reputation or
competitive position; disclosure of personal data that could cause
liability and harm to our reputation; abuse of our advertising or social
platforms that may harm our reputation or user engagement; outages, data
losses, and disruptions of our online services; claims against us that
may result in adverse outcomes in legal disputes; risks associated with
our debt agreements and instruments, including variable interest rates,
operating and financial restrictions, and our ability to service our
indebtedness; the continued service and availability of key executives
and employees; and catastrophic events or geopolitical conditions that
may disrupt our business. Forward-looking statements include all
statements that are not historical facts and can be identified by the
use of forward-looking terminology such as the words “outlook,”
“believes,” “expects,” “potential,” “continues,” “remains,” “may,”
“will,” “should,” “could,” “seeks,” “approximately,” “projects,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates” or the
negative version of these words or other comparable words. You should
not put undue reliance on any forward-looking statements in this press
release. The risk factors discussed in our filings with the Securities
and Exchange Commission, including “Part I—Item 1A. Risk Factors” of our
Annual Report on Form 10-K for the year ended Dec. 31, 2017, “Part
II-Item 1A. Risk Factors” of our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2018, and those described from time to time in
our future reports could cause our results to differ materially from
those expressed in forward-looking statements. There may be other risks
and uncertainties that we are unable to predict at this time or that we
currently do not expect to have a material adverse effect on our
business. We undertake no obligation to publicly update or review any
forward-looking statement or information to conform to actual results,
whether as a result of new information, future developments, changes in
the Company’s expectations, or otherwise, except as required by law.


Hilton Grand Vacations Inc.
Erin Pagán, 407-613-3771