HGV to add timeshare element to Los Cabos resort
Hilton Grand Vacations Inc. has made a $41 million deposit to purchase 87 of the 375 hotel rooms within The Hilton Los Cabos Beach and Golf Resort in Los Cabos, Mexico, from a joint venture of partners including Trinity Real Estate Investments, LLC.
HGV plans to convert the 87 rooms into 74 timeshare units. The total project investment for the company is expected to be approximately $50 million, which includes the deposit, renovations and additional start-up costs.
HGV expects to obtain title to the units in the second quarter of 2019. Renovations are anticipated to begin immediately after the title is transferred. HGV also expects to add a sales centre and commence sales by the end of 2019.
The Hilton Los Cabos Beach and Golf Resort is situated on 11.3 beachfront acres. It is a AAA Four-Diamond resort located within the prestigious Cabo Real masterplan along the San Jose-San Lucas corridor at the tip of the Baja California peninsula.
The oceanfront resort has benefited from a recent multi-million renovation. Featuring six food and beverage concepts, a 7,000-square-foot spa and salon and 88,000 square feet of indoor and outdoor meeting space, the resort also offers access to one of the area’s only swimmer-friendly beaches.