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Related Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions

Note 21: 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.” In July 2020, we contributed an additional $1.5 million in cash to BRE Ace LLC.

We hold a 50 percent ownership interest in 1776 Holdings, LLC, a VIE, which will construct a timeshare resort property, known as “Liberty Place Charleston, by Hilton Club.”

We record Equity in earnings from our unconsolidated affiliates in our 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 consolidated statements of operations as of the date they became related parties.

 

 

 

December 31,

 

($ in millions)

 

2020

 

 

2019

 

 

2018

 

Equity in earnings from unconsolidated affiliates

 

$

5

 

 

$

4

 

 

$

 

Commission and other fees

 

 

55

 

 

 

136

 

 

 

132

 

 

 

We also have $7 million and $25 million of outstanding receivables related to the fee-for-service agreements as of December 31, 2020 and 2019.

 

HNA Tourism Group Co., Ltd

On March 13, 2018, HNA entered into an underwriting agreement with several underwriters to sell 22,250,000 shares of our common stock. In connection with the underwriting offer, we elected to purchase 2,500,000 shares at a price of approximately $44.75 per share. The transactions were completed on March 19, 2018 and HNA ceased to be a related party.