NATIONAL REPORT—Hotel Business takes a look at acquisition deals within the industry, including a vacation lodge and two casino resorts.
Wind Creek Buys Caribbean Casino Resorts
PCI Gaming Authority d/b/a Wind Creek Hospitality (WCH), an authority of the Poarch Band of Creek Indians, revealed that a subsidiary of WCH has acquired the Aruba Renaissance Resort & Casino and the Curacao Renaissance Resort & Casino. The upscale resorts will continue to operate under the Renaissance brand and all team members are expected to remain in place.
The resorts are situated in downtown Oranjestad, the capital city of Aruba, and adjacent to the port and downtown Willemstad, the capital city of Curacao.
The Aruba Renaissance Resort & Casino offers two hotels with 431 rooms; numerous options for dining; two shopping malls that include luxury retailers Dolce & Gabbana, Gucci, Louis Vuitton, Prada, Cartier, Burberry, Rolex and Bulgari; two casinos; and the private Okeanos Spa. There is also an adjacent 40-acre private island.
The Renaissance Curacao Resort and Casino is set amidst the historic Dutch Caribbean city of Willemstad. Built within and around the Rif Fort—a 19th century designated landmark—the resort offers a variety of boutiques, cafés, bars and restaurants, including the open-air boulevard of Renaissance Mall. The hotel has 237 rooms and suites designed in a contemporary Caribbean flavor. Exclusive to the guests of the Renaissance Curacao is the Infinity Beach Club, with an infinity pool, spa cabanas, views of the Caribbean and a beachside bar and grill.
HGV Acquires Sunrise Lodge
Hilton Grand Vacations Inc. (HGV) has acquired Sunrise Lodge, a Hilton Grand Vacations Club.
Since 2012, the 83-unit, ski-in mountain lodge in Park City, UT, has been operating under a fee-for-service agreement through which HGV provided marketing, sales and resort management services to the seller Sunrise Park City LLC and its asset manager Lantern Asset Management.
“In buying Sunrise Lodge, we’re deploying our capital to secure another owned resort and on-site sales center, lock in a long-term management contract, realize improved economics on remaining inventory and offer our customers a consistent branding experience,” said Mark Wang, president and CEO, Hilton Grand Vacations.
The transaction is anticipated to be funded by existing cash on HGV’s balance sheet and expected to be accretive to HGV’s total adjusted EBITDA and EPS.
Sunrise Lodge is located at the base of the Sunrise lift in the Canyons area of Park City Mountain Resort. The property, which consists of one-, two-, three and four-bedroom suites, is proximate to restaurants, shopping, historic Main St. and Utah Olympic Park.
Amenities include an outdoor year-round heated swimming pool with two oversized spas, lobby lounge, complimentary shuttle service within Park City, on-site ski equipment rental, ski-in access and exercise facilities.