- Adjusted EBITDA was $278 million with margins excluding reimbursements of 23%.
- Adjusted free cash flow was $135 million for the quarter, including $77 million inventory spending.
- Cost of product was 11% of net VOI sales, down nearly 100 basis points from prior year.
- Financing business revenue was $126 million with segment profit of $72 million and margins of 57%, or 61% excluding amortization.
- Occupancy in the quarter was stable at 83%, equal to prior year.
- Provision for bad debt was 14% of owned contract sales, down from 15% prior year.
- Real estate profit was $162 million with margins of 26%, up 300 basis points year-over-year.
- Rental and ancillary revenues were flat at $195 million with segment loss of $8 million, impacted by softness in Las Vegas.
- Reported contract sales were up 10% to $834 million in Q2 2025.
- Share repurchases totaled $150 million in the quarter, with an additional $29 million repurchased in July.
- Total revenue excluding cost reimbursement grew 9% to $1.2 billion.
- Volume per guest (VPG) increased 11% to $3,690, driven by owner business and HGV Max offering.
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Dafinchi