Hilton Grand Vacations To Acquire 34-Story Hotel in Manhattan

NEW YORK CITY — Hilton Grand Vacations (NYSE: HGV) will acquire The Central at 5th, a 34-story hotel under construction in Manhattan. The site is located on E. 48th St. in between Fifth Avenue and Madison Avenue and offers proximity to several tourist destinations, including Rockefeller Center, Radio City Music Hall and the Theater District. Developed by local firm Hidrock Properties exclusively for HGV, the property will consist of 161 studio and one-bedroom units that Hilton plans to acquire in phases. Anticipated resort amenities will include a fitness center, outdoor terrace and private owners’ lounge. The opening is expected to occur in spring 2020.

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