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  "documentTitle": "Hilton Grand Vacations (HGV)",
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      "text": "HGV's Board concluded as recently as 2020 that the best interest of shareholders would be served by remaining a standalone business",
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      "text": "HGV missed its targets at its 2018 investor day, reducing confidence they can achieve $125M in synergies",
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      "text": "HGV is effectively betting that $125 million in synergies will be achieved without strong support or track record, in our view, while management badly missed their 2018 investor day EBITDA forecasts. — Land & Buildings",
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      "text": "Response to 4.20.21 Land & Buildings Letter",
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      "text": "WE BELIEVE HGV'S MIXED TRACK RECORD HIGHLIGHTS CONCERN HGV WILL DELIVER ON ITS $125M SYNERGY TARGET",
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