Dallas company acquires controlling interest in Westgate resort
Resort Finance America has acquired controlling interest in the Westgate resort at Planet Hollywood on the Strip, the Dallas-based company announced.
Developed by Westgate Resorts, the 52-story, 1,200-unit PH Towers Westgate opened in 2009 next to Planet Hollywood. Westgate originally wanted to build the tower at the Showcase mall, but that plan was denied by the Clark County Commission in 2004 following opposition from MGM Grand.
Terms of the acquisition were not disclosed. Hilton Grand Vacations has been appointed to rebrand the Westgate property and market it as vacation ownership or time shares.
Resort Finance America, a subsidiary of Centerbridge Capital Partners, will provide asset management services for the property.Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
