In January 2001 , Hilton Grand Vacations Company the timeshare subsidiary of Hilton Hotels Corporation purchased of the property for $ 19.2 million . That month , Hilton announced plans for a 33-story timeshare complex with 1,500 units , to be constructed on the property . Antoine Dagot , chief executive of Hilton Grand Vacations , said the new property would be " one of the largest vacation projects in the world . " The new project would mark Hilton 's third timeshare property in Las Vegas , the other two being smaller ventures located at the Flamingo and the Las Vegas Hilton hotel-casinos . The northern end of the Las Vegas Strip had received little development in recent years , with the latest project being the Stratosphere in 1996 . Stephen Bollenbach , the chief executive of Hilton Hotels , said , " We can be a leader in revitalizing this part of the Strip . I think this will play a big part in continuing development . " Although there was vacant property near the Las Vegas Hilton , Bollenbach said , " We think our customers would like to be on the Strip , and we think this is a very good piece of property . " Groundbreaking for the new project took place on June 14 , 2001 , with Penta Building Group as the general contractor . The first phase , with an expected 350 units , was scheduled to open 18 months later , with construction costs at $ 111 million . The first phase was to be followed by a gradual expansion over the next decade that would bring the number of units up to the planned 1,500 number . On September 24 , 2001 , Hilton announced that construction had been temporarily stopped due to a decrease in revenues at its hotels in the United States , which was caused by low tourism as a result of the September 11 attacks . Construction on the building had reached the fourth floor at the time of the delay . Hilton planned to re-evaluate the project after six months
September 11 attacks
September 11 attacks
Hilton Grand Vacations Club