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Hill Path Capital LP Broadens Its Holdings During First Quarter of 2021

New York City-based private equity firm Hill Path Capital LP recently announced the addition of four investments to its portfolio. In addition to the completion of two new stock purchases, the Company added to its holdings via two additional companies.

Hill Path Capital’s Founder and Managing Partner, Scott Ross, executed the purchase transactions during the first quarter of 2021. On March 31, 2021, Hill Path Capital’s investment included eight stocks with a $1.7 billion total value.

Hill Path Capital LP Profile

Hill Path Capital LP is a private equity firm that operates within the financial services industry. Based in New York City, the Company invests in public and private businesses’ debt and equity.

Founder and Managing Partner Scott Ross launched Hill Path Capital LP in 2015. He is also the Chairman of the Board of Directors of SeaWorld Entertainment, Inc., Hill Path Capital’s largest holding.

First-Quarter 2021 Investments

During the period ending on March 31, 2021, Hill Path Capital LP executed four stock purchase transactions. The Company initiated two new holdings and added to two existing holdings.

Golden Entertainment, Inc.

Hill Path Capital LP added to its holding in Golden Entertainment, Inc. (GDEN) by acquiring additional shares. The firm purchased the stock at an estimated average price of $22.45 per share. As of March 31, 2021, Hill Path Capital LP held 1,311,976 shares of Golden Entertainment, Inc.

About Golden Entertainment, Inc.

Golden Entertainment, Inc. is the central hub of a diversified entertainment network. The Company operates 10 casino resorts, with nine based in Nevada and one in Maryland. Golden Entertainment, Inc. owns 66 Nevada-based neighborhood pubs and taverns. The business is also the United States’ largest distributed gaming operator.

Hilton Grand Vacations, Inc.

Hill Path Capital LP increased its Hilton Grand Vacations, Inc. (HGV) holding by 61.45%. The Company executed the purchase at an estimated average price of $35.97 per share. On March 31, 2021, Hill Path Capital LP held 707,048 shares of Hilton Grand Vacations, Inc.

About Hilton Grand Vacations, Inc.

Hilton Grand Vacations, Inc. is a Hilton-branded timeshare company. In contrast with floating- or fixed-week timeshare programs, Hilton Grand Vacations, Inc. allows members to choose their timeshare week and destination. This latitude enables members to return to favorite vacation spots or visit a different location every year.

Outfront Media, Inc.

Hill Path Capital LP purchased a new holding in Outfront Media, Inc. (OUT). The Company bought the stock at an estimated average price of $20.72 per share. On March 31, 2021, Hill Path Capital LP held 100,000 shares of Outfront Media, Inc.

About Outfront Media, Inc.

Outfront Media, Inc. is a nationwide media network focused on growing brands and businesses through strategically placed advertising. The Company utilizes large-scale advertising platforms in urban centers and communities across the United States. Each campaign targets one or more specific demographic groups.

Playa Hotels & Resorts N.V.

Hill Path Capital LP executed a new holding in Playa Hotels & Resorts N.V. (PLYA). The firm purchased the stock at an estimated average price of $6.59 per share. On March 31, 2021, Hill Path Capital LP held 2,133,000 shares of Playa Hotels & Resorts N.V.

About Playa Hotels & Resorts N.V.

Playa Hotels & Resorts N.V. develops, owns, and operates numerous all-inclusive beachfront resorts. The Company’s properties are located in Mexico, the Dominican Republic, and Jamaica, all popular vacation destinations. Playa’s portfolio of owned and/or managed properties includes 22 resorts with a total of 8,366 rooms.

Hill Path Capital LP’s Five Largest Holdings

For perspective, Hill Path Capital LP’s largest holdings include companies in the entertainment and hospitality sectors. SeaWorld Entertainment, Inc. is an attractions industry leader. Dave & Buster’s Entertainment, Inc. and Ruth’s Hospitality Group, Inc. (the parent company of Ruth’s Chris Steak House) are nationally known restaurant chains.

Hilton Grand Vacations, Inc. is a Hilton-branded timeshare company. Golden Entertainment, Inc. operates casinos, gaming operations, and neighborhood taverns and pubs.

  1. SeaWorld Entertainment, Inc. (SEAS): Hill Path Capital LP owns 27,205,306 shares, representing 80.77% of its total portfolio.
  2. Dave & Buster’s Entertainment, Inc. (PLAY): The Company holds 4,448,542 shares, which represents 12.74% of its total portfolio.
  3. Golden Entertainment, Inc. (GDEN): The firm holds 1,311,976 shares, which comprises 1.98% of its total portfolio. Shares were added by 255.77%.
  4. Hilton Grand Vacations, Inc. (HGV): The Company owns 707,048 shares, which represents 1.58% of its total portfolio. Shares were added by 61.45%.
  5. Ruth’s Hospitality Group, Inc. (RUTH): The firm holds 891,742 shares, representing 1.32% of its total portfolio.

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