Hilton Grand Vacations Purchases Sunrise Lodge
Wednesday, October 18, 2017
Hilton Grand Vacations (HGV) has just announced that they have acquired Sunrise Lodge, a Hilton Grand Vacations Club in Park City, Utah.
Sunrise Lodge, a Hilton Grand Vacations Club has operating under a fee-for-service agreement through HGV. This agreement provided services to Sunrise Park City, LLC including marketing, sales, and resort management.
Sunrise Park City, LLC is the seller of the properties and Lantern Asset Management is their asset manager.
Mark Wang, president and CEO of Hilton Grand Vacations commented on the purchase:
“In buying Sunrise Lodge, we’re deploying our capital to secure another owned resort and on-site sales center, lock in a long-term management contract, realize improved economics on remaining inventory and offer our customers a consistent branding experience.”
The acquisition of Sunrise Lodge, a Hilton Grand Vacations Club is planned to be funded by existing ash on Hilton Grand Vacations’ balance sheet. This is also expected to be accretive to HGV’s total adjusted EBITDA and EPS.
Sunrise Lodge sits at the base of the Sunrise life in the Canyons area of the Park City Mountain Resort. As the largest ski resort in the United States, guests will have access to world-class ski experiences.
This resort is made up of one-, two-, three-, and four-bedroom suites. Other amenities include an outdoor heated swimming pool, oversized spa tubs, a lobby lounge, on-site ski equipment rentals, ski-in access, and a fitness center. Sunrise lodge also offers complimentary shuttle service to the hotspots in Park City including Main Street, Utah Olympic Park, restaurants, shopping centers, and more.
To learn more about Sunrise Lodge and other Hilton Grand Vacations properties, visit their website.