Hilton Grand Vacations Club Acquires Former Maui Lu Resort
Wednesday, October 8, 2014
Hilton Grand Vacations Club (HGVC) has announced that the former Maui Lu resort will be redeveloped into an HGVC timeshare resort.
With the help of the Capbridge Group, a subsidiary of Capbridge Pacific LLC, the timeshare company has purchased the 28-acre property in Kihei, Maui. The Capbridge Group will break ground on the timeshare resort in 2015 and open in 2017.
The venture will cost an estimated $300 Million and is the Capbridge Group’s first project in Hawaii. The new resort will also become HGVC’s first location in Maui.
President of Capbridge Pacific, Will Beaton said,
“The Capbridge Group and Capbridge Pacific are looking forward to developing our first major project in Hawaii, which will provide a significant improvement to Kihei and a major economic boost to Maui. Maui continues to be one of the most desirable destinations for the vacation ownership market. Hawaii’s relationship, from both a geographic and business perspective, with both the U.S. mainland and the Asia-Pacific region, is a great fit with our company’s growth and investment strategy.”
Located on the eastern edge of Maalaea Bay, the property is adjacent to the Kalepolepo Beach Park and the Humpback Whale Sanctuary Visitor Center. The resort will be remodeled into a villa-style property featuring 388 one-, two-, and three-bedroom units.
The resort will feature 740 feet of private beach and a pool, fitness center, and kid’s center. The resort is also located only 15 minutes away from the Kahului Airport and near a variety of shopping, dining, and nightlife.
“We are delighted to work with Hilton Grand Vacations to revitalize this area of Maui, which holds a special place in Maui’s tourism history. The plans for this resort, coupled with the quality of the Hilton Grand Vacations Club product and the strength of the Hilton brand will offer visitors another exceptional vacation experience on Maui.”
Presently, Kihei is known as a boutique travel destination, featuring only small resorts condos, and cottages. Hilton already owns a hotel in the area, the Waldorf Astoria Grand Wailea, but this will be the first Hilton timeshare resort.
President of Hilton Grand Vacations, Mark Wang shared, “Hilton Grand Vacations is thrilled to be a part of this new resort development and we are excited to soon have a presence on the island of Maui. This new resort will be an outstanding addition to our portfolio of vacation destinations and ownership opportunities in Hawaii.”
Stay tuned to TheTimeshareAuthority.com for more information on the construction and opening of the new HGVC timeshare resort.