The Real Deal New York

Hilton Grand Vacations buys Quin hotel for $175M

Company purchased West 57th Street property from UBS
July 02, 2018 06:00PM

The Quin at 101 W 57th Street (Credit: The Quin Hotel)

Hilton Grand Vacations, a timeshare company, has purchased a hotel on Billionaires’ Row for $175 million.

The company bought the Quin at 101 West 57th Street from a fund overseen by UBS Asset Management, according to Bloomberg. The 213-key hotel opened in 1929 and was known as the Buckingham at the time. Artists included George O’Keefe and Marc Chagall have stayed there.

The price came out to about $820,000 per key.

Hilton spun off Hilton Grand Vacations into a separate publicly traded company in 2016. Timeshare companies have lately been showing more interest in urban hotels in an effort to attract millennial customers.

Earlier in June, Westgate Resorts spent $50 million to purchase the former site of the Hilton New York Grand Central. [Bloomberg] – Eddie Small