USA, Orlando, Florida. August 11, 2021

Hilton Grand Vacations (NYSE:HGV) continued its brisk pace of openings in New York with the launch of its newest urban timeshare property, The Central at 5th by Hilton Club. The striking 33-story building puts owners in the heart of Manhattan on East 48th Street between Fifth Avenue and Madison Avenue, just blocks away from Rockefeller Center, St. Patrick's Cathedral, Central Station, Fifth Avenue shopping and cultural icons such as The Museum of Modern Art (MoMA). The resort features 161 units including studios, one-bedroom suites and penthouse suites.

The launch comes just weeks after HGV announced the debut of The Quin by Hilton Club on West 57th Street as a timeshare property following its year-long, $50 million renovation. This further solidifies the company's position as the leader in New York's burgeoning urban timeshare market.

"Hilton Grand Vacations continues to raise the bar in urban timeshare, and opening The Central at 5th, which is our second property to launch in the city this summer, underscores our commitment to expand our footprint in New York City," said Mark Wang, president and CEO of Hilton Grand Vacations. "The Central at 5th has been constructed from the ground up to serve as an ideal base for our owners and guests to experience the best of Manhattan. The opening of this exquisite property marks our fifth timeshare in the city."

Gordon Gurnik, senior executive vice president & chief operating officer at Hilton Grand Vacations, added, "The Central at 5th occupies a fantastic midtown location and features superb amenities that help our owners and guests feel at home. The new building is an ideal addition to the HGV portfolio in New York."

The Central at 5th is newly constructed and "purpose-built" for timeshare, ensuring that elements most valuable to owners are at the heart of the building's design. World-class architectural and interior design firms collaborated to create the property, as Handel Architects provided architectural design and Rottet Studio provided interior design. Amenities include a second-floor owners' lounge, anticipated to open in 2022, with an outdoor terrace that has covered and uncovered seating areas, a ground-floor lobby lounge and outdoor courtyard, a fitness center and more.

The property draws on architectural elements of historic buildings in the neighborhood and reinterprets them with a modern flair. On the exterior, this is most evident in the undulating window openings that create a "folded" façade. The building also invites the outdoors in, with full-width windows in individual units providing plentiful natural light. The connection to the outdoors is enhanced with access from the owners' lounge, which offers a social and communal setting. This space allows owners to mingle, settle in to work or enjoy an outdoor terrace lined with boxwood shrubs facing 48th Street.

Studios and suites are filled with natural light and offer a warm and residential feel. Bespoke touches such as a chaise lounge, leather pulls and trunks as nightstands add inspiration. Modern bathrooms include marble tile walls, full-height glass-enclosed showers, backlit mirrors, and heated floors in selected suites.

Hilton Grand Vacations pioneered the urban timeshare movement in New York starting in 2003 and continues to innovate. As urban timeshare has grown increasingly popular, HGV has met demand with new-builds and property transformations offering owners a range of unparalleled opportunities. Now, The Central at 5th by Hilton Club joins NYC sister properties including: The Hilton Club - New York; The Residences by Hilton Club; West 57th Street by Hilton Club; and The Quin by Hilton Club to offer the very best timeshare experiences in New York.