Hilton Grand Vacations Announces New Acquisition in Kyoto
Hilton Grand Vacations Inc. (NYSE:HGV) has announced the purchase of Citadines Kyoto Karasuma Gojo in Kyoto, Japan, marking its first property in Kyoto and third in Japan. The company plans to renovate the property into 63 modern one-bedroom timeshare units with kitchens and a fitness center. Renovation is expected to begin in Q2 2025, with completion in Q1 2026 and sales starting in Q2 2025.
Kyoto, a popular cultural destination, saw a record 75 million tourists in 2023, a 13% increase from the previous year. The property's location in the historic Kyoto tourism and business district provides easy access to restaurants, shopping, and UNESCO World Heritage Sites. This acquisition aligns with HGV's expansion strategy in Japan, where it has experienced year-over-year member growth since 2012, currently exceeding 72,000 members.
Hilton Grand Vacations Inc. (NYSE:HGV) ha annunciato l'acquisto di Citadines Kyoto Karasuma Gojo a Kyoto, Giappone, segnando la sua prima proprietà a Kyoto e la terza in Giappone. L'azienda prevede di ristrutturare la proprietà in 63 moderne unità di timeshare con una camera da letto dotate di cucine e di un centro fitness. I lavori di ristrutturazione sono previsti per iniziare nel secondo trimestre del 2025, con completamento nel primo trimestre del 2026 e le vendite che inizieranno nel secondo trimestre del 2025.
Kyoto, una meta culturale molto popolare, ha accolto un record di 75 milioni di turisti nel 2023, con un incremento del 13% rispetto all'anno precedente. La posizione della proprietà nel quartiere storico del turismo e degli affari di Kyoto offre un facile accesso a ristoranti, negozi e siti patrimonio dell'umanità dell'UNESCO. Questo acquisto è in linea con la strategia di espansione di HGV in Giappone, dove ha registrato una crescita annuale dei membri dal 2012, superando attualmente i 72.000 membri.
Hilton Grand Vacations Inc. (NYSE:HGV) ha anunciado la compra de Citadines Kyoto Karasuma Gojo en Kyoto, Japón, marcando su primera propiedad en Kyoto y la tercera en Japón. La empresa planea renovar la propiedad en 63 modernas unidades de tiempos compartidos de una habitación con cocinas y un centro de fitness. Se espera que la renovación comience en el segundo trimestre de 2025, con finalización en el primer trimestre de 2026 y ventas comenzando en el segundo trimestre de 2025.
Kyoto, un destino cultural muy popular, recibió un récord de 75 millones de turistas en 2023, un incremento del 13% en comparación con el año anterior. La ubicación de la propiedad en el histórico distrito turístico y de negocios de Kyoto ofrece fácil acceso a restaurantes, tiendas y sitios del Patrimonio Mundial de la UNESCO. Esta adquisición se alinea con la estrategia de expansión de HGV en Japón, donde ha experimentado un crecimiento anual de miembros desde 2012, superando actualmente los 72,000 miembros.
힐튼 그랜드 베케이션스 주식회사 (NYSE:HGV)는 일본 교토에 위치한 시타딘스 교토카라스마 고조를 인수했다고 발표하며 교토에서의 첫 번째 자산이자 일본에서의 세 번째 자산이라고 밝혔습니다. 이 회사는 해당 자산을 부엌이 있는 63개의 현대적인 원룸 타임쉐어 유닛으로 리노베이션할 계획입니다. 리노베이션은 2025년 2분기에 시작되어 2026년 1분기에 완공되며, 2025년 2분기부터 판매가 시작될 예정입니다.
문화적 인기 여행지인 교토는 2023년에 최고 기록인 7천5백만 명의 관광객을 맞이했습니다, 이는 전년 대비 13% 증가한 수치입니다. 이 자산은 교토의 역사적인 관광 및 비즈니스 지구에 위치해 있어 레스토랑, 쇼핑, 유네스코 세계유산에 쉽게 접근할 수 있습니다. 이 인수는 HGV의 일본 내 확장 전략과 일치하며, 일본에서는 2012년부터 해마다 회원 수가 증가하고 있습니다, 현재 72,000명 이상의 회원이 있습니다.
Hilton Grand Vacations Inc. (NYSE:HGV) a annoncé l'achat de Citadines Kyoto Karasuma Gojo à Kyoto, au Japon, marquant ainsi sa première propriété à Kyoto et la troisième au Japon. L'entreprise prévoit de rénover la propriété en 63 unités de temps partagé modernes avec une chambre dotées de cuisines et d'une salle de sport. La rénovation devrait commencer au deuxième trimestre 2025, avec une achèvement prévu au premier trimestre 2026 et le début des ventes prévu pour le deuxième trimestre 2025.
Kyoto, une destination culturelle populaire, a accueilli un nombre record de 75 millions de touristes en 2023, soit une augmentation de 13 % par rapport à l'année précédente. L'emplacement de la propriété dans le quartier historique du tourisme et des affaires de Kyoto offre un accès facile à des restaurants, des magasins et des sites classés au patrimoine mondial de l'UNESCO. Cet achat s'inscrit dans la stratégie d'expansion de HGV au Japon, où il a connu une croissance des membres d'une année sur l'autre depuis 2012, dépassant actuellement les 72 000 membres.
Hilton Grand Vacations Inc. (NYSE:HGV) hat den Kauf von Citadines Kyoto Karasuma Gojo in Kyoto, Japan, angekündigt, was die erste Immobilie in Kyoto und die dritte in Japan markiert. Das Unternehmen plant, die Immobilie in 63 moderna, ein Schlafzimmer Apartments für Timesharing mit Küchen und einem Fitnesscenter umzubauen. Der Umbau soll im 2. Quartal 2025 beginnen, die Fertigstellung ist für das 1. Quartal 2026 geplant und der Verkauf soll im 2. Quartal 2025 beginnen.
Kyoto, ein beliebtes kulturelles Ziel, verzeichnete im Jahr 2023 einen Rekord von 75 Millionen Touristen, was einem Anstieg von 13% gegenüber dem Vorjahr entspricht. Die Lage der Immobilie im historischen Tourismus- und Geschäftsviertel von Kyoto ermöglicht einen einfachen Zugang zu Restaurants, Einkaufsgelegenheiten und UNESCO-Weltkulturerbestätten. Dieser Erwerb passt zur Expansionsstrategie von HGV in Japan, wo es seit 2012 eine jährliche Mitgliedszunahme gibt, die mittlerweile 72.000 Mitglieder übersteigt.
- Expansion into Kyoto, a popular tourist destination with 75 million visitors in 2023
- Addition of 63 modern one-bedroom timeshare units to HGV's portfolio
- Strategic location in Kyoto's historic tourism and business district
- Continued year-over-year member growth in Japan, exceeding 72,000 members
- Diversification of offerings for Japanese members preferring domestic destinations
- Significant renovation costs expected for property conversion
- Potential risks associated with expanding in a competitive market
- Delay in revenue generation as sales are not expected to start until Q2 2025
Insights
The acquisition of Citadines Kyoto Karasuma Gojo marks a strategic expansion for Hilton Grand Vacations (HGV) in the lucrative Japanese market. This move capitalizes on Kyoto's booming tourism sector, with visitor numbers rivaling major destinations like Orlando. The 63-unit property in a prime location positions HGV to tap into the growing demand for cultural experiences among travelers.
Financially, this investment aligns with HGV's growth trajectory in Japan, where membership has been consistently increasing year-over-year. The planned renovation starting in Q2 2025 and sales beginning in the same quarter suggest a well-timed entry to capture market share. While the specific acquisition cost isn't disclosed, the potential for revenue growth is significant given Kyoto's popularity and HGV's established success in Japan.
For investors, this expansion demonstrates HGV's commitment to diversifying its portfolio and strengthening its position in a key market. The company's track record of growth in Japan, coupled with the strategic location of this new property, bodes well for future revenue streams and potential stock appreciation.
HGV's acquisition in Kyoto is a shrewd move that taps into several key market trends. Firstly, the record 75 million tourists in Kyoto in 2023, a 13% year-over-year increase, indicates robust and growing demand. This aligns perfectly with the global trend of experiential travel and cultural tourism.
The property's location in the historic district caters to the increasing preference for authentic, immersive travel experiences. By offering modern amenities within walking distance of UNESCO World Heritage Sites, HGV is positioning itself at the intersection of comfort and cultural exploration.
Moreover, the decision to include kitchens in each unit reflects the growing trend of extended stays and a desire for home-like accommodations. This feature could be particularly appealing in a post-pandemic travel landscape where travelers seek more control over their environment.
The timing of the renovation and sales launch in 2025 suggests HGV is anticipating a continued upswing in tourism, potentially capitalizing on pent-up demand and increased interest in Japan following the Tokyo Olympics. This strategic timing could maximize initial sales and occupancy rates.
Vacation ownership industry leader expands presence with third property in
“Building on our history as the leading vacation ownership company in
Ideally situated in the historic
Renovation is anticipated to begin in the second quarter of 2025, with project completion expected in the first quarter of 2026. The start of sales for the property is expected to begin in the second quarter of 2025.
Purchasing Citadines Kyoto Karasuma Gojo project is part of HGV’s continued efforts to expand its presence in
HGV’s most recent property in
JLL assisted in brokering the transaction.
Important Notice
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management’s expectations as to the future of HGV, and are based on management’s beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words “outlook,” “believe,” “expect,” “potential,” “goal,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “future,” “guidance,” “target,” or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements related to HGV’s revenues, earnings, taxes, cash flow and related financial and operating measures, and expectations with respect to future operating, financial and business performance and other anticipated future events and expectations that are not historical facts. HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV’s control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties could adversely impact HGV’s operations, revenue, operating profits and margins, key business operational metrics, financial condition or credit rating. For a more detailed discussion of these factors, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in HGV’s most recent Annual Report on Form 10-K, which may be supplemented and updated by the risk factors in HGV’s quarterly reports, current reports and other filings HGV makes with the SEC. HGV’s forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any “forward-looking statement” made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in
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Lauren George
407-613-8431
lauren.george@hgv.com
Source: Hilton Grand Vacations Inc.
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