JV Makes Oceanfront Resort Purchase in Mexico

May 17, 2018

Citing a recent multimillion-dollar renovation and confidence in the Los Cabos, Mexico, hospitality market, a joint venture of Trinity Investments LLC, Walton Street Capital LLC and Oaktree Capital Management LP has acquired the Hilton Los Cabos Beach & Golf Resort.

 

The seller and purchase price for the AAA Four-Diamond, 375-key resort were not disclosed. However, shortly after news broke of the joint venture acquisition of the resort, Hilton Grand Vacations announced it had made a $41 million deposit to purchase 87 guestrooms from the JV and convert them into 74 timeshare units. The firm estimated its total project investment to be about $50 million, including deposit, renovations and additional startup costs. HGV said it expects to obtain title to the units and begin renovations in the second quarter of 2019. Sales are expected to begin by late 2019...

 

Source: CPExecutive

 

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L‍auren George
Senior Manager, External Communications
Hilton Grand Vacations

P: 1-407-613-8431 
E: [email protected]

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