Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenues by Segment from Contracts with Customers

The following tables show our disaggregated revenues by product and segment from contracts with customers. We operate our business in the following two segments: (i) Real estate sales and financing and (ii) Resort operations and club management. Please refer to Note 20: Business Segments below for more details related to our segments.

($ in millions)	Three Months Ended September 30,				Nine Months Ended September 30,
Real Estate Sales and Financing Segment	2022		2021		2022		2021
Sales of VOIs, net	$	500	$	488	$	1,130	$	597
Sales, marketing, brand and other fees	177		118		457		252
Interest income	61		46		170		108
Other financing revenue	7		7		26		19
Real estate sales and financing segment revenues	$	745	$	659	$	1,783	$	976

($ in millions)	Three Months Ended September 30,				Nine Months Ended September 30,
Resort Operations and Club Management Segment	2022		2021		2022		2021
Club management	$	48	$	42	$	150	$	98
Resort management	82		57		229		94
Rental(1)	157		104		436		184
Ancillary services	2		8		30		14
Resort operations and club management segment revenues	$	289	$	211	$	845	$	390

(1)Excludes intersegment eliminations. See Note 20: Business Segments for additional information.

Schedule of Accounts Receivable from Contracts with Customers and Composition of Contract Liabilities

The following table provides information on our accounts receivable from contracts with customers which are included in Accounts receivable, net on our unaudited condensed consolidated balance sheets:

($ in millions)	September 30, 2022		December 31, 2021
Receivables	$	273	$	202

The following table presents the composition of our contract liabilities:

($ in millions)	September 30, 2022		December 31, 2021
Contract liabilities:
Advanced deposits	$	138	$	112
Deferred sales of VOIs of projects under construction	1		34
Club dues and Legacy-HGV Club activation fees	105		91
Bonus Point incentive liability(1)	58		44

(1)Amounts related to the Bonus Point incentive liability are included in Accounts payable, accrued expenses and other on our unaudited condensed consolidated balance sheets. This liability is comprised of unrecognized revenue for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.

Schedule of Deferred Revenue Cost of Sales and Direct Selling Costs from Sales of Project Under Construction

The following table represents the deferred revenue, cost of VOI sales and direct selling costs from sales of VOIs related to projects under construction as of September 30, 2022 and December 31, 2021:

($ in millions)	September 30, 2022		December 31, 2021
Sales of VOIs, net	$	1	$	34
Cost of VOI sales(1)	—		12
Sales and marketing expense	—		5

(1)Includes anticipated Cost of VOI sales related to inventory associated with Sales of VOIs under construction.

Schedule of Remaining Transaction Price Related to Advanced Deposits Club Activation Fees and Club Bonus Points

The following table includes the remaining transaction price related to Advanced deposits, and Legacy-HGV Club activation fees and Bonus Points as of September 30, 2022:

($ in millions)	Remaining Transaction Price		Recognition Period	Recognition Method
Advanced deposits	$	138	18 months	Upon customer stays
Legacy-HGV Club activation fees	65		7 years	Straight-line basis over average inventory holding period
Bonus Points	58		18 - 30 months	Upon redemption