Hilton Grand Vacations Secures New Timeshare in Los Cabos
Thursday, May 10, 2018
Hilton Grand Vacations, one of the world’s most popular and long-standing vacation ownership brands, recently purchased several dozen units within the existing Hilton Los Cabos Beach and Golf Resort to convert into timeshare accommodations. The deal, worth $41 million, will give HGV its first branded timeshare property in Los Cabos by the end of 2019.
The 375-room hotel is located conveniently between Cabo San Lucas and San Jose del Cabo, giving its guests access to popular area attractions as well as one of the region’s only swimmable beaches. Hilton Grand Vacations, now a separate entity, purchased 87 units from the existing hotel with plans to turn them into 74 vacation ownership units. In addition to having guaranteed, timeshare-only accommodations, Hilton Grand Vacations will also get a sales center.
Hilton Grand Vacations already provides access to Los Cabos for its club members through a partnership with Fiesta Americana, but this will be the brand’s first property to carry the Hilton name in Mexico. The resort is located on more than 11 acres of beachfront property and offers six restaurants and bars, a health spa and salon, and access to the Cabo Real Golf Club just across the road.
The company will secure title rights to the units sometime in 2019, with renovations beginning immediately after. Timeshare sales expected to begin by the end of that year. With the $41 million investment, renovation costs, and start-up expenses, the entire project is expected to cost Hilton Grand Vacations around $50 million.
For more information about the Hilton Los Cabos Beach and Golf Resort or about Hilton Grand Vacations, read the company’s full press release.