Related Party Transactions

3 Months Ended

Mar. 31, 2017

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Relationship Between HGV and Hilton after the Spin-Off

On January 3, 2017, when the spin-off was completed, Hilton and Park ceased to be a related parties of HGV. In connection with the spin-off, we entered into certain agreements with Hilton and other third parties. See Key Agreements Related to the Spin-Off section in Part I - Item 1. Business of our Annual Report on Form 10-K for the year ended December 31, 2016 for further information.

HNA Tourism Group Co., Ltd.

On March 15, 2017, Blackstone completed the previously announced sale of 24,750,000 shares of our common stock to HNA Tourism Group Co., Ltd. ("HNA"), representing approximately 25 percent of the outstanding shares of our common stock.

In connection with the consummation of the sale, we adopted our amended and restated by-laws, effective March 15, 2017, to remove references to Blackstone's ownership of at least 40 percent of the total voting power of our common stock and revised certain provisions referencing the Blackstone Stockholders Agreement, as appropriate, to include references to the HNA Stockholder Agreement.

The Blackstone Group

In connection with the consummation of the spin-off described in Note 1: Organization and Basis of Presentation and the sale of 25 percent of our common stock to HNA as described above, Blackstone holds approximately 15 percent of HGV outstanding common stock as of March 31, 2017.

For the three months ended March 31, 2017 and 2016, we earned commissions and other fees of $51 million and $44 million, respectively, in our condensed consolidated statements of operations, related to a fee-for-service agreement with a Blackstone affiliate to sell VOIs at a property. Also related to the fee-for-service agreement, as of March 31, 2017 and December 31, 2016, we recognized receivables of $19 million and $20 million, respectively.