Hilton Grand Vacations, Blackstone Buy Elara

July 20, 2017

Hilton Grand Vacations Inc. (HGV) has formed a joint venture with Blackstone Real Estate Partners VIII affiliates to acquire the Elara timeshare resort in Las Vegas. Orlando-based HGV will take on a 25 percent stake in the venture for approximately $40 million. The company will also continue to market, sell and manage the resort, which flies the Hilton Grand Vacations Club flag, under existing fee-for-service agreements. The purchase price and the seller in the transaction were not disclosed.

 

Source: Boutique Design

 

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L‍auren George
Senior Manager, External Communications
Hilton Grand Vacations

P: 1-407-613-8431 
E: lauren.george@hgv.com

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