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Related Party Transactions
3 Months Ended
Mar. 31, 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 is currently constructing a timeshare resort property, known as “Liberty Place Charleston, by Hilton Club.”

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

 

 

 

Three Months Ended March 31,

 

($ in millions)

 

2021

 

 

2020

 

Equity in earnings from unconsolidated affiliates

 

$

2

 

 

$

3

 

Commissions and other fees

 

 

13

 

 

 

23

 

 

We also had $5 million and $7 million of outstanding receivables related to the fee-for-service agreements as of March 31, 2021 and December 31, 2020, respectively.