Hilton, Blackstone Grab 1,201-Key Vegas Resort

Hilton Grand Vacations, in a partnership with affiliates of Blackstone Real Estate Partners VIII, acquired The Elara, a Hilton Grand Vacations Club that is also one of the world’s largest timeshare resorts. HFV will assume a 25 percent stake in the joint venture for $40 million. In addition to its stake, the company will also continue to market, sell and manage The Elara under its existing fee-for-service agreements.

Source: Commercial Property Executive

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