Is Elara Las Vegas Owned by Hilton Vacation Club?

[12GotTahi]

Hello,

Is Elara owned by Hilton Vacation Club?

It makes me confused because it looks like some of properties are owned by Planet Hollywood.

Clarification is needed.

Thank you for your support!

 

[Hobokie]

It is both Westgate and HGV. The HGV deeds are worth significantly more than the Westgate ones.

 

[Sandy VDH]

Westgate built it, but then went into bankruptcy. Hilton bought it out of bankruptcy, and the bulk of the inventory was remaining. So a small percentage were originally sold as Westgate and will stay that way. However the bulk of it is Hilton, and Hilton manages it, including the Westgate units (Planet Hollywood).

 

[dioxide45]

Westgage built it, but then went into bankruptcy. Hilton bought it out of bankruptcy, and the bulk of the inventory was remaining. So a small percentage were originally sold as Westgate and will stay that way. However the bulk of it is Hilton, and Hilton manages it, including the Westgate units (Planet Hollywood).

Not sure there was a bankruptcy at Westgate, but they weren't doing very well (given the financial crash) and they were basically forced to sell to Hilton.

 

[Sandy VDH]

Not sure there was a bankruptcy at Westgate, but they weren't doing very well (given the financial crash) and they were basically forced to sell to Hilton.

You may be right, but WG viewed that as their crown jewel that they were pretty much forced to pawn. That is how desperate they were.

 

[Janann]

If you want to know one version of the story behind the building, watch Queen of Versaille.

 

[dayooper]

Hello,

Is Elara owned by Hilton Vacation Club?

It makes me confused because it looks like some of properties are owned by Planet Hollywood.

Clarification is needed.

Thank you for your support!

Planet Hollywood Casino (owned by Caesar’s) does not own any of the units at Elara. The majority are owned by HGV (parent company) and most are in the HGVC system. HGV’s upscale The Hilton Club (upper upscale, actually) does own some of the units on the top floors, but are accessible to both Hilton Club and HGVC owners. An HVC (Hilton Vacation Club) owner would have to part of Max to book using points.

As said above, there are Wastegate …. errrr Westgate deeds and those are called Pkanet Hollywood Towers deeds as that’s what Elara was called before HGV and their partner Blackrock (a private equity group) bought it. Great place to stay. Enjoyed our time there and is our first choice when traveling to Vegas.

 

[dioxide45]

In 2011 when HGV came into the picture, they were merely appointed to manage sales and market at the property by the controlling owner Resort Finance America. Researching it a little more, it seems that the tower was sold off to an LV Tower 52 LLC and renamed Alera in 2012. I beleive the private equity group was actually Blackstone and not BlackRock. Black Rock is a investment advisory firm. Not sure of the legal arrangement here, but does HGV own any of LV Tower 52 LLC? Or do they just buy inventory on an as needed basis to feed the sales floor?

 

[dayooper]

In 2011 when HGV came into the picture, they were merely appointed to manage sales and market at the property by the controlling owner Resort Finance America. Researching it a little more, it seems that the tower was sold off to an LV Tower 52 LLC and renamed Alera in 2012. I beleive the private equity group was actually Blackstone and not BlackRock. Black Rock is an investment advisory firm. Not sure of the legal arrangement here, but does HGV own any of LV Tower 52 LLC? Or do they just buy inventory on an as needed basis to feed the sales floor?

Yes, you are correct, the name of the private equity firm is Blackstone (I knew that, they are one of the largest private equity firms in the US and have partnered with HGVC on numerous projects). I had just posted on another thread and had mentioned The Black Rocks, which is a park in Marquette MI and the brewery which they are named for and that was still stuck in my head.

 

[12GotTahi]

It is both Westgate and HGV. The HGV deeds are worth significantly more than the Westgate ones.

Thank you!

 

[12GotTahi]

Yes, you are correct, the name of the private equity firm is Blackstone (I knew that, they are one of the largest private equity firms in the US and have partnered with HGVC on numerous projects). I had just posted on another thread and had mentioned The Black Rocks, which is a park in Marquette MI and the brewery which they are named for and that was still stuck in my head.

Awesome answer! Thank you!

 

[12GotTahi]

Yes, you are correct, the name of the private equity firm is Blackstone (I knew that, they are one of the largest private equity firms in the US and have partnered with HGVC on numerous projects). I had just posted on another thread and had mentioned The Black Rocks, which is a park in Marquette MI and the brewery which they are named for and that was still stuck in my head.

Thank you for the info!

 

[T-Dot-Traveller]

Hi @12GotTahi ,
There are some HGVC - Elara threads from 2022 that that have additional info.

If you want HGVC points - the Planet Hollywood deeds will not work.

If you want to go to Vegas / Elara regularly - read those threads

 

[dioxide45]

Hi @12GotTahi ,
If you want to go to Vegas / Elara regularly - read those threads

Apparently some of those deeds are pretty good and a single deed may be able to provide up to 4 weeks of use. Even on resale deeds.