Units at the Las Vegas Trump Towers Purchase by Hilton Grand Vacations

There were 300 units sold from the Trump Towers in Las Vegas.  These units were bought by Hilton Grand Vacations to include in their time share portfolio. This sale was reported by the company last week

The estimated value for the whole transaction was pegged at $100 million.  Mr. Matt Brimhall, the sales manager for Trump International has reported that the selling prices of every unit’s would vary.  This would range from the $240,000 to $350,000 mark.  The prices vary depending on which floor the unit is in.

Hilton Grand Vacations will be tasked with marketing and selling the time share at the Trump Towers.  The occupancy of these units is expected to start at the early part of next year.

However, the management of the 64-storey building and its 1,232 units will still remain under the hands of Trump Organization. This was confirmed by Mr. Eric Trump, executive VP for acquisition and development and son of real estate mogul Mr. Donald Trump.

The executive vice-president also added that Hilton Grand Vacations has expressed their interest in buying units at the building over a year ago.   Mr. Trump had accepted Hilton’s proposal due to the company’s professionalism and easy terms of agreement.  He is also optimistic with this association with Hilton would be beneficial to both properties.

Mr. Trump sees the Las Vegas economy is rebounding with more traffic in the airports and the increase sales of condo-hotels.

Mr. Mark Wang, the president for Hilton Grand Vacations is also happy with the collaboration.  With this tie-up, Hilton Grand Vacations is changing the experience that their customers have in staying in one of the most ultra-luxe properties in Las Vegas.  With this venture, Hilton Grand Vacations is also expected to further gain ground with their performance in the Las Vegas market and extend the service that they offer to their resort portfolio.

Besides the timeshares in the Las Vegas Trump Towers, the company also has time share properties in other parts of Las Vegas.  There are properties near the Las Vegas Convention Center, on the Strip at the Flamingo and properties located north of Circus Circus.  They also made a rebranding for the property at Planet Hollywood.

 With this, the branding that the Hilton companies has outstretched to more than 3,900 hotel chains and time share properties that offer a total of 640,000 rooms which are located over 91 countries worldwide.