Introduction
Hilton Grand Vacations (HGV) is a timeshare and vacation ownership company that is part of the Hilton family of brands. Founded in 1992, HGV has grown to become one of the largest vacation ownership companies in the world, with over 300 resorts in the United States, Europe, and Asia. But who owns this popular resort chain?
A Look at the Ownership of Hilton Grand Vacations
The ownership of HGV is complex, involving multiple entities. To understand who owns HGV, it’s important to first explore its corporate structure. HGV is owned by two separate entities: Hilton Worldwide Holdings Inc. and Blackstone Group LP. Hilton Worldwide Holdings Inc. is a subsidiary of Hilton Hotels Corporation, which is a public company traded on the New York Stock Exchange. Blackstone Group LP is a private equity firm that specializes in real estate investments.
Who are the Key Players Behind Hilton Grand Vacations?
Hilton Worldwide Holdings Inc. is owned by its parent company, Hilton Hotels Corporation. The President and CEO of Hilton Hotels Corporation is Christopher Nassetta, and the Chairman of the Board is Thomas J. Baltimore, Jr. Both Nassetta and Baltimore have been with the company since 2007. Blackstone Group LP is led by its co-founders, Stephen A. Schwarzman and Peter G. Peterson. Schwarzman is the Chairman and Chief Executive Officer, while Peterson is the Senior Chairman.
The History of Hilton Grand Vacations and Its Owners
Hilton Grand Vacations was founded in 1992 as a way for guests to enjoy extended stays at Hilton Hotels. The company was acquired by Hilton Hotels Corporation in 1999, and then sold to Blackstone Group LP in 2007. Since then, HGV has expanded rapidly, and now has over 300 resorts worldwide. According to Bloomberg, Blackstone Group LP purchased HGV for $26 billion.
How Did Hilton Grand Vacations Come to Be Owned by Blackstone Group?
Blackstone Group LP is a global investment firm with a focus on real estate, private equity, and credit investments. The company was founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, and since then has grown to become one of the largest private equity firms in the world. In 2007, Blackstone Group LP purchased HGV from Hilton Hotels Corporation for $26 billion. The purchase was part of a larger deal that included the purchase of other Hilton-owned properties, including Hilton Garden Inn and Hampton Inn.
Investing in Hilton Grand Vacations: Gaining Insight into Its Ownership
HGV is a publicly traded company, so investors can gain insight into its ownership by looking at its financial statements. Investing in HGV can be a good way to diversify a portfolio and generate income. There are many potential benefits, such as access to luxury accommodations at discounted rates, and the ability to earn points that can be used for free nights or upgrades. However, there are also potential risks, such as fluctuating market conditions and changes in customer preferences.
Conclusion
Hilton Grand Vacations is owned by two separate entities: Hilton Worldwide Holdings Inc. and Blackstone Group LP. Hilton Worldwide Holdings Inc. is owned by its parent company, Hilton Hotels Corporation, and Blackstone Group LP is a private equity firm. The company was acquired by Blackstone Group LP in 2007 for $26 billion. Investing in HGV can provide potential benefits, but there are also risks involved. Understanding the ownership of HGV is key to making an informed decision about investing.
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