Hilton Grand Vacations and Blackstone Real Estate Partners a joint venture has acquired Elara.

Hilton Grand Vacations and Blackstone Real Estate Partners a joint venture has acquired Elara, a Hilton Grand Vacations Club, one of the world’s largest timeshare resorts. HGV will assume a 25% stake in the joint venture for approximately $40m. “Today’s acquisition advances one of our key strategic priorities that is growth through opportunistic business ventures, which allows us to continue to maximize shareholder value. By taking an ownership stake in Elara, which has more than 500 units of sellable inventory remaining, we are receiving a strong-performing consumer loan portfolio and unfinished penthouse floors.” Mark Wang, Hilton Grand Vacations president and CEO.