ORLANDO, Fla.--(BUSINESS WIRE)--
Hilton
Grand Vacations Inc. (NYSE:HGV) announces it has made a $41 million
deposit to purchase 87 of the 375 hotel rooms within the Hilton Los
Cabos Beach and Golf Resort in Los Cabos, Mexico, from a joint venture
of partners including Trinity Real Estate Investments, LLC.
HGV plans to convert the 87 rooms into 74 timeshare units. The total
project investment for the company is expected to be approximately $50
million, which includes the deposit, renovations and additional start-up
costs.
HGV expects to obtain title to the units in the second quarter of 2019.
Renovations are anticipated to begin immediately after the title is
transferred. HGV also expects to add a sales center and commence sales
by the end of 2019.
The Hilton Los Cabos Beach and Golf Resort is situated on 11.3
beachfront acres. It is a AAA Four-Diamond resort located within the
prestigious Cabo Real masterplan along the San Jose-San Lucas corridor
at the tip of the Baja California peninsula. The oceanfront resort has
benefited from a recent multi-million renovation. Featuring six food and
beverage concepts, a 7,000-square-foot spa and salon and 88,000 square
feet of indoor and outdoor meeting space, the resort also offers access
to one of the area’s only swimmer-friendly beaches.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global
timeshare company. With headquarters in Orlando, Fla., Hilton Grand
Vacations develops, markets and operates a system of brand-name,
high-quality vacation ownership resorts in select vacation destinations.
The Company also manages and operates two innovative club membership
programs: Hilton Grand Vacations Club® and The Hilton Club®,
providing exclusive exchange, leisure travel and reservation services
for more than 290,000 Club Members. For more information, visit www.hgv.com
and www.hiltongrandvacations.com.
About Trinity Investments, LLC
Trinity Real Estate Investments, LLC is a private real estate investment
firm with a 20-year history of generating value-added returns. Since its
inception, Trinity has consummated more than $4 billion worth of global
real estate transactions in Hawaii, Mexico and Japan by leveraging its
deep institutional knowledge and longstanding local relationships. With
considerable expertise covering the full spectrum of property
investment, development and value-enhancing asset management, Trinity
generates unique and opportunistic real estate investments in
world-class markets. Based in Honolulu, Hawaii, the firm’s pursuits span
an array of geographic locations and asset types but share the
commonality of being predicated upon best-in-class local relationships
and teams of professionals for sourcing, executing and realizing
investments within each of its target markets.
For additional information, please visit https://www.trinityinvestments.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180509006359/en/
Hilton Grand Vacations Inc.
Lauren George, 407-613-8431
Lauren.George@hgv.com
Source: Hilton Grand Vacations Inc.