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In January 2001, [2] Hilton Grand Vacations Company – the timeshare subsidiary of Hilton Hotels Corporation – purchased 10 acres (4.0 ha) of the property for $19.2 million. [1] That month, Hilton announced plans for a 33-story timeshare complex with 1,500 units, to be constructed on the property.
HGV was formerly a wholly owned subsidiary of Hilton Worldwide until it was spun off into a publicly traded company in 2017. Even though HGV is an independent company post spin-off, Hilton Worldwide still retains full ownership of the Hilton Grand Vacation Club, Hilton Vacation Club, and Hilton Club brands that HGV manages and operates for them.
In January 2020, Diamond Resorts partnered with Highgate to rent units in two properties in New York City. [17] In March 2021, Apollo Global agreed to sell Diamond Resorts to Hilton Grand Vacations [18] for $1.4 billion. [19] [20] The acquisition was completed on August 2, 2021. [21] [22]
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In 1998, Aladdin Gaming was planning a new Aladdin resort on the Las Vegas Strip, as well as the adjacent Aladdin Music Project, a $250 million resort that would include 1,000 hotel rooms and a 50,000 sq ft (4,600 m 2) casino.