New Luxury Hotel Brand enters Fractional Market
The Waldorf=Astoria, owned by Hilton hotels, announced that it plans to build a 50-unit luxury fractional Waldorf=Astoria component within the Lake Las Vegas Resort in Henderson, Nevada.
The project will be developed on a 17.5 acre lakefront parcel overlooking the 17th hole and the 18th tee of the Jack Nicklaus designed Reflection Bay Golf Course. Amenities will include a full-service spa, golf course privileges, and access to the 320 acre Lake Las Vegas. Development of the project is currently in the design phase, with groundbreaking targeted for early 2008 and an opening date projected for fall of 2009.
These will be the first luxury fractional residences to be developed with the Waldorf =Astoria name. Private residence clubs by luxury hotel brands have been on the rise for several years, with even more brands expected to lend their cachet to these upscale alternatives to second homes.
Hilton launched the Waldorf=Astoria Collection in January 2006, building on the name of their flagship New York hotel located at 301 Park Avenue in Manhattan. This original hotel was founded in 1893 by millionaire William Waldorf Astor.
Several destination clubs also have properties in the Las Vegas or broader Nevada area.
Destination Club and Residence Fund Guide
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