Exclusive: Hilton Grand Vacations to explore sale following takeover interest - sources
(Reuters) - Hilton Grand Vacations Inc has decided to explore strategic alternatives, including a potential sale, following acquisition interest in the U.S. timeshare operator from private equity firms, people familiar with the matter said on Thursday
(Reuters) - Hilton Grand Vacations Inc has decided to explore strategic alternatives, including a potential sale, following acquisition interest in the U.S. timeshare operator from private equity firms, people familiar with the matter said on Thursday.
A potential deal would come as the timeshare industry seeks to improve its occupancy rates and shed its reputation of locking customers into complex contracts they do not understand, in the hope of becoming a more popular alternative for U.S. vacationers.
Hilton Grand Vacations has hired an investment bank to advise it on a sale process, the sources said, cautioning that no deal is certain. It has asked for preliminary bids in September, one of the sources added.
The sources asked not to be identified because the matter is confidential.
Hilton Grand Vacations, which was spun out of hotel operator Hilton Worldwide Holdings Inc in 2017, did not immediately respond to a request for comment.
The New York Post reported last week that buyout firm Apollo Global Management LLC, which owns time-share operator Diamond Resorts Holdings LLC, had made an offer for Hilton Grand Vacations.
(Reporting by Greg Roumeliotis in New York; Editing by Dan Grebler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
By Jeff Mason WASHINGTON (Reuters) - U.S. President Donald Trump, facing the possibility of a cash crunch, said on Tuesday he would spend "whatever it takes" of his own money to finance his 2020 presidential campaign against Democrat Joe Biden if he had to
By Lisandra Paraguassu BRASILIA (Reuters) - Brazilian House Speaker Rodrigo Maia said on Tuesday that lawmakers are currently finalizing the text of a bill targeting those that finance "fake news" attacks on social media sites, adding that it could be voted on by the end of this year. The draft of the Brazilian bill was approved in the Senate on June 30, but the lower house created a working group to suggest modifications. Those changes will be finalized in two weeks, Maia said
DUBLIN (Reuters) - Ireland plans to allow the reopening of all pubs on Sept. 21, dropping a ban on bars that do not serve food, a senior minister said on Tuesday.