When we think about luxury resorts, The Grand Resort is one of the first names that come to mind. With its stunning views, luxurious amenities, and impeccable service, it’s no wonder why people flock to this resort every year.
However, have you ever wondered who owns this magnificent property? In this article, we will delve into the ownership of The Grand Resort.
History of The Grand Resort
The Grand Resort was originally built in 1901 by John Jacob Astor IV, a wealthy businessman and real estate developer. He spared no expense in creating a luxurious destination for the rich and famous. The resort quickly became a popular destination for wealthy Americans and Europeans.
Over the years, The Grand Resort changed hands several times. In 1944, it was purchased by a group of investors led by Conrad Hilton. Under Hilton’s ownership, the resort underwent major renovations and expansions that further cemented its reputation as one of the world’s top luxury resorts.
In 1975, The Grand Resort was sold to a consortium led by Jay Pritzker. Pritzker was the founder of Hyatt Hotels Corporation and had a keen interest in luxury hospitality. Under his ownership, The Grand Resort continued to thrive and expand.
Current Ownership
Today, The Grand Resort is owned by a private investment company called Blackstone Group. Blackstone is one of the world’s largest alternative investment firms with over $600 billion in assets under management.
Blackstone acquired The Grand Resort in 2017 as part of its acquisition of LaSalle Hotel Properties, which owned several high-end hotels and resorts across the United States.
What Does This Mean for Guests?
The change in ownership has had little impact on guests’ experiences at The Grand Resort. Blackstone has stated that it plans to continue investing in the property to maintain its status as one of the world’s top luxury resorts.
In fact, Blackstone has already announced plans to invest over $500 million in upgrades and renovations to The Grand Resort over the next few years. These investments will ensure that guests continue to enjoy the highest level of luxury and service during their stay.
Conclusion
In conclusion, The Grand Resort has a rich history of ownership changes but remains one of the world’s most luxurious destinations. Today, it is owned by Blackstone Group, which has committed to investing in the property to maintain its status as one of the world’s top luxury resorts. If you’re looking for a truly unforgettable vacation experience, The Grand Resort should be at the top of your list.