ORLANDO, Florida – (COMMERCIAL THREAD) – Hilton Grand Vacations (NYSE: HGV) continued its sustained pace of New York openings with the launch of its new urban timeshare property, The Central at 5th by Hilton Club. The striking 33-story building places the owners in the heart of Manhattan on East 48th Street between Fifth Avenue and Madison Avenue, a few blocks from Rockefeller Center, St. Patrick’s Cathedral, Central Station, boutiques, Fifth Avenue and cultural icons such as the Museum of Modern Art (MoMA). The resort has 161 units, including studios, one-bedroom suites and penthouse suites.
The launch comes just weeks after HGV announced the launch of The Quin by Hilton Club on West 57th Street as a timeshare following its one-year $ 50 million renovation. This further strengthens the company’s position as a leader in the burgeoning urban timeshare market in New York City.
“Hilton Grand Vacations continues to raise the bar for urban timeshares and the opening of The Central at 5th, which is our second property to launch in the city this summer, underscores our commitment to expanding our footprint in New York,” said said Mark Wang, President and CEO of Hilton Grand Vacations. “The Central at 5th was built from the ground up to serve as the perfect base for our owners and guests to experience the best of Manhattan. The opening of this exquisite property marks our fifth timeshare in the city.
Gordon Gurnik, Senior Executive Vice President and COO at Hilton Grand Vacations, added, “The Central at 5th has a fantastic downtown location and offers great amenities that help our owners and guests feel like at home. The new building is an ideal addition to the heavyweight portfolio in New York.
The Central at 5th is newly constructed and ‘purpose built’ for timeshares, ensuring that the items most valuable to owners are central to the building’s design. World-class architecture and interior design firms collaborated to create the property, while Handel Architects provided the architectural design and Rottet Studio provided the interior design. Facilities include an owners lounge on the second floor, slated to open in 2022, with an outdoor terrace with covered and uncovered seating areas, a lobby lounge on the ground floor and an outdoor courtyard, a fitness and more.
The property is inspired by the architectural elements of the historic buildings of the district and reinterprets them with a modern touch. On the outside, this is most evident in the undulating window openings that create a “folded” facade. The building also invites the outdoors, with full-width windows in individual units providing abundant natural light. Connection to the outdoors is enhanced by access from the owners’ lounge, which provides a social and community setting. This space allows owners to mingle, settle down to work or enjoy an outdoor terrace bordered by boxwood shrubs facing 48e Street.
The studios and suites are bathed in natural light and offer a warm and residential atmosphere. Bespoke touches such as a lounge chair, leather handles and trunks as bedside tables add inspiration. Modern bathrooms include marble-tiled walls, full-height glass-enclosed showers, backlit mirrors, and heated floors in some suites.
Hilton Grand Vacations pioneered the urban timeshare movement in New York City starting in 2003 and continues to innovate. As urban timeshare has grown in popularity, heavy goods vehicles have responded to the demand with new construction and real estate conversions providing owners with an unprecedented range of opportunities. Now, The Central at 5th by Hilton Club joins sister properties New York, including: The Hilton Club – New York; The Hilton Club Residences; West 57th Street by Hilton Club; and The Quin by Hilton Club for providing the best timeshare experiences in New York City.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE: HGV) is recognized as one of the world’s premier timeshare companies. Headquartered in Orlando, Florida, Hilton Grand Vacations develops, markets and operates a system of high-quality, brand-owned vacation resorts in select vacation destinations. The Company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club® and The Hilton Club®, providing exclusive exchange, leisure travel and reservation services to nearly 330,000 members of the clubs. For more information, visit www.hiltongrandvacations.com.