Hilton Grand Vacations Invests $41M in Resort
Hilton Grand Vacations Inc. 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.
Source: Hotel Business