HGVC Cosmopolitan

[tnsna]

I was told at the last sales presentation that Blackwood group purchased the Cosmopolitan in Vegas. Anyone hear any news on if it will become an HGVC property??

 

[Sandy VDH]

I sure hope not, between the 4 HGVC locations and Trump we have plenty of choices already. But given that historically Hilton has been fixated on Vegas, and Hawaii, I wouldn't be surprised if it were true.

 

[aamista]

yes i think it's true
http://www.reviewjournal.com/busine...n-las-vegas-sold-blackstone-group-173-billion

maybe they will get rid of one of the old 4

 

[holdaer]

I was told at the last sales presentation that Blackwood group purchased the Cosmopolitan in Vegas. Anyone hear any news on if it will become an HGVC property??

I doubt it will become a HGVC property since there is a casino as well. This hotel will need a company experienced in managing a casino.

Also, mentioned in the article that was referenced:

"Union Gaming Group analyst Robert Shore speculated Blackstone could bring in an experienced casino operator to manage The Cosmopolitan, suggesting such companies as MGM Resorts, Caesars, Penn National Gaming, and Boyd Gaming Corp. as possible candidates."

 

[1Kflyerguy]

The Blackstone Group also owns several Marriott and Hyatt Regencies. They are investment company, so their ownership does not really indicate a desire to merge them with Hilton. Think it just means they believe they can make money with the property/ asset.

 

[Talent312]

They [Blackstone] are investment company, so their ownership does not really indicate a desire to merge them with Hilton.

Why not? They already bought out Hilton once. Then, made a mint off Hilton's IPO.
See article in Business Week: "Blackstone's $26 Billion Hilton Deal: The Best Leveraged Buyout Ever"
-- http://www.businessweek.com/articles/2014-09-11/blackstones-hilton-deal-best-leveraged-buyout-ever

 

[1Kflyerguy]

All i was saying, is that as a Private Equity and Hedge fund Blackstone buys and sells lots of business. They are much more than just Hilton.

Its is possible they might add a timeshare to the Cosmopolitan, but since they also own Marriott properties, various Hyatt locations, food companies, Sea World. clothing companies, etc, i don't think purchasing another hotel automatically means that property will convert to a Hilton.

 

[Tamaradarann]

Wild Idea but Wow

All i was saying, is that as a Private Equity and Hedge fund Blackstone buys and sells lots of business. They are much more than just Hilton.

Its is possible they might add a timeshare to the Cosmopolitan, but since they also own Marriott properties, various Hyatt locations, food companies, Sea World. clothing companies, etc, i don't think purchasing another hotel automatically means that property will convert to a Hilton.

Here is a wild idea, but one that would turn the industry upside down. Since Blackstone owns some Marriott and Hyatt as well as the Cosmopolitan it turns some apartments and/or rooms in those properties into timeshares that they sell and join into HGVC. This would not be any different than the Planet Hollywood or Trump Model in which some of the building is HGVC timeshare and some is not. It would enable HGVC owners to trade into some great properties for HGVC points.

 

[1Kflyerguy]

Agree that is a great idea, at least from an HGVC owner perspective. The Club Intrawest in Vancouver is top few floors of the Sheraton.

No idea how that would actually work out financially, But it is a cool idea for sure.

 

[piyooshj]

Theere are plenty of timeshare resorts in vegas. They might just continue to operate it as a hotel. There is shortage of timeshare in dn tn Vancouver hence the CI property on the top 3 floors rocks.

 

[newportbeach]

Just stayed at the Hilton Elara over New years and loved it. Very Plush. I favor
the more owner options the better, and see no reason that the Cosmopolitan should not provide a certain number of suites as HGVC Timeshares. It would surprise to learn that the resort is over booked, but I am wrong. I see no conflict between a casino and a timeshare being on the same location. I could list a few that I have been to for example Marriott St. Kitt has a Casino in the main building. I just learned that Hilton moved quickly a few years ago to contract with the Las Vegas Trop to allow HGVC owners to use their HGVC points to stay at the Trop and of course use the ground floor casino.

Spoke to the Elara sales person and with is lips moving as usual I heard that HGVC was very likely to be connected to the Cosmopolitan.

 

[solonas]

Asked a sales person at the Strip

I was just at the Elara over President's day weekend and asked my sales rep about the Cosmopolitan acquisition. She said she didn't expect it to become related to HGVC in any way. It is basically right across the street from the Elara as it is and the Strip has land to expand to another 2 towers, so they are unlikely to change the business model of the property. She also said that it gives them another property they can add to the Hilton portfolio and expose to the 30+ million Hhonors members and general public vs the 250,000 or so HGVC owners. But who knows, I am happy to stay at the Elara and avoid all the smoke that casinos permit.