If I rent the unit/points from a registered owner will I then be able to use the owner's lounge at this property?

Yes, you absolutely will. They offer complimentary gourmet hot and cold breakfast and evening small bite fare including complimentary wine and beer.

Yes, If you rent from an Owner, you can use the Owner's Lounge which offers daily gourmet breakfast and evening snacks, wine and beer.

Hilton is understandably very protective of this privilege on behalf of the owners.