XML 39 R23.htm IDEA: XBRL DOCUMENT v3.21.2
Related Party Transactions
6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
Related Party Transactions

Note 17: Related Party Transactions

BRE Ace LLC and 1776 Holding, LLC

We hold a 25 percent ownership interest in BRE Ace LLC, a VIE, which owns a timeshare resort property and related operations, commonly known as “Elara, by Hilton Grand Vacations.”

We hold a 50 percent ownership interest in 1776 Holding, LLC, a VIE, which owns a timeshare resort property and related operations, known as “Liberty Place Charleston, by Hilton Club.”

We record Equity in earnings from our unconsolidated affiliates in our unaudited condensed consolidated statements of operations. See Note 10: Investments in Unconsolidated Affiliates for additional information. Additionally, we earn commissions and other fees related to fee-for-service agreements with the investees to sell VOIs at Elara, by Hilton Grand Vacations and Liberty Place Charleston, by Hilton Club. These amounts are summarized in the following table and are included in our unaudited condensed consolidated statements of operations as of the date they became related parties.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

($ in millions)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Equity in earnings from unconsolidated affiliates

 

$

4

 

 

$

1

 

 

$

6

 

 

$

4

 

Commissions and other fees

 

 

24

 

 

 

4

 

 

 

37

 

 

 

27

 

 

We also had $13 million and $7 million of outstanding receivables related to the fee-for-service agreements as of June 30, 2021 and December 31, 2020, respectively.