BRIEF-Hilton Grand Vacations, Blackstone form joint venture to purchase Elara

July 19, 2017

July 19 (Reuters) – Hilton Grand Vacations Inc.

  • Hilton Grand Vacations and Blackstone form joint venture to purchase Elara, one of the world’s largest timeshare resorts
  • Hilton Grand Vacations Inc – acquisition expected to be accretive in 2017 to total adjusted EBITDA and EPS
  • Hilton Grand Vacations Inc – deal for approximately $40 million
  • Hilton Grand Vacations Inc – transaction is expected to be funded by existing cash on hgv’s balance sheet
  • Hilton Grand Vacations – in addition to ownership stake, HGV will continue to market, sell and manage elara under existing fee-for-service agreements

Source: Reuters


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L‍auren George
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Hilton Grand Vacations

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