Hilton Grand Vacations Expands Urban Footprint with Fifth New York City Property.
Hilton Grand Vacations has announced its fifth New York City property, The Central at 5th by Hilton Club. The 34-story project will be developed by Hidrock Properties exclusively for HGV, the move solidifies HGV’s continued efforts to deliver new product offerings in highly coveted urban and vacation destinations.
“New York City has long been a top travel destination for our owners and guests,” says Mark Wang, president and CEO of Hilton Grand Vacations. “As current and potential owners reiterate the importance of vacation ownership opportunities in the Big Apple, we are thrilled to provide them with a premier new property that is ideally positioned near some of the best attractions the city has to offer. We are confident that this expansion will drive our Net Owner Growth by fulfilling the desires of current and future owners.”
The Central at 5th is situated on East 48th Street mid-block between Fifth Avenue and Madison Avenue, and located just steps from the world-class shops of Fifth Avenue and renowned attractions like Rockefeller Center, Radio City Music Hall and the Theater District. Resort amenities are expected to include a fitness center, outdoor terrace and private owners’ lounge.
HGV will acquire the property in two phases consisting of a total of 161 studio and one-bedroom units. The resort is anticipated to open in spring of 2020. Sales began in March 2019.
“Hidrock is proud to continue developing first class projects in New York City, and we are extremely excited to be adding this exceptional property to the Hilton Grand Vacations portfolio,” says Abie Hidary, CEO of Hidrock.
Joseph Ginex, chief development officer of Hidrock adds, “The collaborative effort with HGV has allowed our design team to create a unique facade and interiors, which will make this property one of the premier timeshares in Manhattan.”
HGV’s commitment to enhance its urban portfolio in New York City has led the company to develop several product offerings in the market. Last year, HGV opened The Residences by Hilton Club and acquired The Quin Central Park by Hilton Club – a well-known luxury lifestyle hotel in Midtown Manhattan that will be converted into 213 studios and one- and two-bedroom timeshare units. Additional HGV properties in New York City include The Hilton Club – New York, which opened in 2003, and West 57th Street by Hilton Club, which opened in 2009.
New and exclusive developments are sure to attract many new customers seeking a unique holiday experience. However, a word of warning: many of these properties are used to sell the dream and, more often than not, customers are persuaded to purchase Long-Term-Holiday-Products and point based holiday products, which are often non-refundable, non-transferable and with virtually no resale value. In addition to this, you will face mounting maintenance fees, which resorts can increase on an annual basis and this is entirely at their discretion.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.