Hilton Grand Vacations and Strand Announce Joint Venture and First Charleston Resort
Thursday, April 19, 2018
Hilton Grand Vacations (HGV) and Strand Capital Group, LLC, have just announced their first joint venture as development partners and HGV’s first Charleston, South Carolina resort property, Liberty Place Charleston by Hilton Club.
Liberty Place will join four other Hilton Grand Vacations locations throughout South Carolina that were also developed in collaboration with Strand. This particular property will feature 100 units of various studio, one-, and two-bedroom suites with amenities like a lobby bar, owners’ lounge, and fitness center. HGV’s $10 million investment works toward building positive business results while also leaving room for growth opportunities through flexible cash flow.
The resort will be located at 475 E. Bay St., and within walking distance to many of Charleston’s top attractions, like the South Carolina Aquarium, a multitude of restaurants, and plenty of shopping and entertainment.
Construction is set to start in the fourth quarter of 2018 with unit sales beginning early 2019 and completion of the resort in the second quarter of 2020. HGV will also be managing the property and responsible for selling and marketing units per the fee-for-service agreement they have in the Stand joint venture.
HGV president and CEO Mark Wang stated:
“Charleston is a highly desirable market, and adding this property to our portfolio advances all of our strategic priorities, especially growing our member base and expanding our brand presence. HGV continues to deploy resources and add new destinations, which is a key driver of Net Owner Growth as it attracts new owners and increases product options for our existing owners.”
Charleston is an ideal place for Hilton Grand Vacations Club to extend their reach. It’s the oldest and largest city in the state and the resort is believed to be where the Liberty Tree, where the Declaration of Independence was read the first time to Charleston citizens, was located.
For more information on HGV, please visit their official website.