ORLANDO, Fla.--(BUSINESS WIRE)--

Hilton Grand Vacations (NYSE:HGV) announces its real estate purchase from Hilton (NYSE:HLT) including existing buildings and land for development within the Hilton Odawara Resort & Spa, located in the Kanagawa Prefecture, Japan. The purchase marks Hilton Grand Vacations’ second announced project in Japan and will be the first resort to open in the country. Adding to the existing properties, HGV plans to create timeshare units with ocean views on the purchased land.

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Hilton Grand Vacations announces it will open its first timeshare resort in Japan. Proposed and subject to change. © 2018 Hilton Grand Vacations.

“We are pleased to announce our first resort to open in Japan, in collaboration with our esteemed partner Hilton, in this scenic location close to Tokyo, which has consistently been a top choice for vacations by our owners and guests,” says Mark Wang, president and CEO, Hilton Grand Vacations. “We look forward to working with the city of Odawara to promote tourism and contribute to the vibrant local economy,” he adds.

Hilton Odawara Resort & Spa is located just 30 minutes by bullet train from Tokyo. The hotel was the recipient of the ‘Japan's Leading Resort’ award from World Travel Awards in 2017. Hilton will continue to own the hotel and resort amenities as well as manage the property, which is close to attractions such as the Fuji Hakone Izu National Park and Odawara Castle. Guests will have access to the many recreational facilities and resort amenities of Hilton Odawara Resort & Spa.

“With the Japanese government’s aim to welcome 40 million tourists by 2020, we see great continuing potential in providing more offerings to an ever-expanding and diverse group of travellers,” says Tim Soper, vice president of operations for Japan, Korea and Micronesia with Hilton. “Part of how we will do so is to offer our guests the best of both worlds by working with key tourism players, including Hilton Grand Vacations.”

Renowned Japanese design firm Hashimoto Yukio Design Studio has been appointed as designer for the project.

About Hilton Grand Vacations Inc.

Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company. With headquarters in Orlando, Fla., USA, Hilton Grand Vacations develops, markets and operates a system of brand-name, high-quality vacation ownership 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 for more than 280,000 Club Members. For more information, visit www.hgv.com and www.hiltongrandvacations.com.

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