Posted on August 12, 2021
The Hilton Grand Vacations timeshare company is gaining momentum with the opening of a new property as it closes its mammoth acquisition of Diamond Resorts.
In keeping with its recent priority of focusing on urban timeshare properties, Hilton has announced the opening of its newest New York City property, The Central at 5th by Hilton Club. The hotel opens at a strategic time as New York City emerges from the impact of COVID with plans for Broadway shows to resume next month.
The Central at 5th by Hilton Club, located on East 48th Street, features studio, one-bedroom and penthouse timeshare units, terrace lounges, business center, 24-hour front desk and the all-important free Wi-Fi. With its location so close to famed 5th Avenue, the property is right around the corner from NYC icons such as Rockefeller Center, St Patrick's Cathedral and Saks Fifth Avenue.
The opening of the Central at 5th comes on the heels of Hilton’s $50million renovation of its newly reopened New Yok property The Quin by Hilton Club. The Quin, at Sixth Avenue and 57th Street reopened in June and gives owners a wonderful location just across from Carnegie Hall and two blocks from Central Park.
The Quin by Hilton Club offers options that many New York timeshare hotels do not offer, such as a two-bedroom unit configuration to complement the studio and one-bedroom units. There are also onsite bar and dining facilities, which can be convenient if you don’t feel like going out for every meal and drink.
The New York announcement followed the approval by HGV shareholders of the Diamond acquisition in late July, which triggered Hilton’s announcement last week that it has completed the deal. The transaction is reportedly worth $1.4billion.
The newly expanded Hilton timeshare operation will now include 710,000 owners, second only Wyndham, as it added 380,000 former Diamond owners. The acquisition opens 20 new markets to Hilton owners as the company now features 154 timeshare resorts in its network.
No direct mention has been made of rebranding the former Diamond resorts to Hilton, although Hilton has repeatedly referenced the strength of its brand and culture in previous announcements regarding the acquisition. The expectation is that the resorts will be rebranded into Hilton timeshares at some time in the near future.
Hilton Grand Vacations announced its second quarter earnings for 2021 and, while growth was expected compared to last year’s COVID-induced losses, the company has shown consistent growth since last summer.
One key item is that this is the fourth consecutive quarter that membership numbers have increased, which is impressive considering the on-again, off-again impact of COVID.
Total revenues were $334 million for the second quarter of this year compared to $123 million for the same period past year, reflecting the strength of the Hilton name as well as the resiliency of the timeshare product.
Keep in mind that these numbers were reported prior to the recent outbreak of the delta variant of COVID, so it will be interesting to see what impact, if any, the current wave has on third quarter numbers.
Charleston, South Carolina is now in the Hilton timeshare network with the opening of Liberty Place Charleston by Hilton Club. This addition to the Hilton Club program again focuses on more of an urban location rather than HGV’s other four South Carolina properties in the more leisure travel destinations of Myrtle Beach and Hilton Head.
The unique characteristics of Charleston make this an excellent addition to the Hilton network, combining the charm of this historic southern location with the options that come with being the largest city in South Carolina.
Liberty Place Charleston by Hilton Club offers a choice of studio, one- and two-bedroom timeshare units in a historically significant location in Charleston. The spot marks the former location of the Liberty Tree, which was the place where the Declaration of Independence was first read to the town’s residents on August 5th, 1776.
Visitors will be about six blocks from Liberty Square, where you can catch the ferry to Fort Sumter. Charleston Museum is also nearby, as are buildings such as Aiken Rhett House featuring architecture dating back to 1820.