Hill Path Capital LP, a leading New York City-based private equity firm, recently enhanced its portfolio with four investments. In addition to completing two new stock purchases, the Company expanded its holdings in two other businesses.
During the first quarter of 2021, Scott Ross, Hill Path Capital’s Founder and Managing Partner, oversaw the stock purchase transactions. As of March 31, 2021, Hill Path Capital held eight stocks with a total value of $1.7 billion.
About Hill Path Capital LP
Operating within the financial services industry, Hill Path Capital LP is a well-regarded private equity firm. Based in New York City, the Company typically makes investments in public and private companies’ debt and equity.
Scott Ross, Hill Path Capital LP’s Founder and Managing Partner, launched the Company in 2015. Scott Ross is also the Chairman of the Board of Directors of SeaWorld Entertainment, Inc., Hill Path Capital’s largest investment.
Hill Path Capital LP’s Five Most Prominent Investments
Hill Path Capital LP has concentrated its five largest holdings in the entertainment and hospitality industries. SeaWorld Entertainment, Inc. is a well-known leader in the attractions arena.
Dave & Buster’s Entertainment, Inc. and Ruth’s Hospitality Group, Inc. (the parent company of Ruth’s Chris Steak House) are national restaurant chains. Both companies enjoy name recognition.
In a different vein, Hilton Grand Vacations, Inc. is a timeshare company that carries the global Hilton Brand. Golden Entertainment, Inc. operates casinos, neighborhood taverns and pubs, and a network of gaming operations.
- SeaWorld Entertainment, Inc. (SEAS): Hill Path Capital holds 27,205,306 shares. This represents 80.77% of the firm’s total portfolio.
- Dave & Buster’s Entertainment, Inc. (PLAY): The Company owns 4,448,542 shares, a figure representing 12.74% of its total portfolio.
- Golden Entertainment, Inc. (GDEN): The firm owns 1,311,976 shares, which makes up 1.98% of its total portfolio. The newest shares were added by 255.77%.
- Hilton Grand Vacations, Inc. (HGV): Hill Path Capital owns 707,048 shares, a number that represents 1.58% of its total portfolio. New shares were added by 61.45%.
- Ruth’s Hospitality Group, Inc. (RUTH): The Company owns 891,742 shares. This figure represents 1.32% of the firm’s total portfolio.
New and Expanded 2021 Q1 Investments
During the quarter ending March 31, 2021, Hill Path Capital LP completed four stock purchases. In addition to initiating two new holdings, the Company purchased a substantial number of shares in two existing holdings.
Golden Entertainment, Inc.
Hill Path Capital LP bolstered its holding in Golden Entertainment, Inc. (GDEN) by purchasing shares. The firm acquired the stock at an estimated average price of $22.45 per share. On March 31, 2021, Hill Path Capital LP held 1,311,976 shares of Golden Entertainment, Inc.
The Company’s Focus
Golden Entertainment, Inc. serves as the focal point of a wide-ranging entertainment network. The Company operates 10 casino resorts. Nine facilities are based in Nevada and one is in Maryland.
Golden Entertainment, Inc. also operates 66 Nevada-area neighborhood pubs and taverns. Finally, the Company has also become the United States’ largest distributed gaming operations business.
Hilton Grand Vacations, Inc.
Hill Path Capital LP enhanced its Hilton Grand Vacations, Inc. (HGV) investment by 61.45%. The Company completed the purchase at an estimated average price of $35.97 per share. As of March 31, 2021, Hill Path Capital LP owned 707,048 shares of Hilton Grand Vacations, Inc.
The Company’s Focus
Hilton Grand Vacations, Inc. is a timeshare company that operates under the Hilton brand. In comparison to floating- or fixed-week timeshare structures, Hilton Grand Vacations, Inc. permits members to choose a destination and timeshare week. Under these guidelines, members can return to favorite vacation venues or travel to a different location annually.
Outfront Media, Inc.
Hill Path Capital LP executed a new investment in Outfront Media, Inc. (OUT). The Company purchased the stock at an estimated average price of $20.72 per share. Hill Path Capital LP held 100,000 shares of Outfront Media, Inc. as of March 31, 2021.
The Company’s Focus
Outfront Media, Inc. is a nationwide media network that facilitates brands’ and businesses’ growth through well-placed advertising. The Company maintains highly visible advertising platforms in communities and metropolitan areas throughout the United States. An Outfront Media campaign is typically directed at one or more demographic groups.
Playa Hotels & Resorts N.V.
Hill Path Capital LP initiated a new holding in Playa Hotels & Resorts N.V. (PLYA). The firm executed the purchase at an estimated average price of $6.59 per share. On March 31, 2021, Hill Path Capital LP owned 2,133,000 shares of Playa Hotels & Resorts N.V.
The Company’s Focus
Playa Hotels & Resorts N.V. owns, operates, and develops a framework of all-inclusive beachfront resorts. Company-owned properties are located in popular vacation destinations such as Jamaica, Mexico, and the Dominican Republic. Playa’s group of owned and/or managed properties encompasses 22 resorts that collectively offer 8,366 guest rooms.
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