Hilton Grand Vacations (HGV - Get Report) is the target of two takeover bids, including Apollo Global Management's (APO - Get Report) offer of around $40 a share, according to a media report.

Blackstone Group, (BX - Get Report)  which like Apollo is a New York private-equity firm, has also bid for the Orlando, Fla., resort operator, people familiar with the matter told Bloomberg.

Hilton Grand shares closed Monday up 5.9% at $34.57. Earlier, they traded for as much as $36, a 52-week high. Apollo Global shares closed little changed at $38.67. Blackstone fell 1.3% to $46.50.

The hedge fund Elliott Management, which is a Hilton Grand shareholder, had been urging the company to put itself up for sale, people familiar with the matter told the news service last month.