Hilton Grand Vacations Purchases Waikiki Property for Timeshare Development
Thursday, September 27, 2018
Hilton Grand Vacations just announced its acquisition of BSC KVSC, LLC’s (BSC) 1.05-acre property in popular Waikiki, which includes King’s Village, Hale Waikiki Hotel, and Prince Edwards Apartments. This will be HGV’s sixth Honolulu property, will consist of a 32-story tower building, and will begin construction in 2019.
With a current timeshare occupancy at 90% and plenty of interest from potential domestic and Japanese owners, Hilton Grand Vacations continues to focus on expanding their existing presents on Oahu. This purchase will bring their island unit totals to 1,429, which includes their most recent March 2017 opening at The Grand Islander by Hilton Grand Vacations Club.
HGV President and CEO Mark Wang stated:
“Building on our local development history that started with the Lagoon Tower in 2000, our latest project in Waikiki will assure that HGV continues to offer lifetime vacation experiences to our next generation of owners. We’re also excited that this project will be the first Hawaii location for our Hilton Club, which offers premium levels of design and amenities.”
Bryan Li of BSC added:
“We are glad to see the project moving forward under the current approvals, as we believe it will be good for the neighborhood, the Waikiki area and our local economy. Hilton Grand Vacations has a strong track record of operating exceptional properties in Hawaii, and we wish them continued success.”
This property will include 191 units of studio, one-, two-, and three-bedroom suites, with select accommodations featuring ocean views. The resort will also feature a fitness center, pool, owners’ lounge, and business center. Construction is expected to begin in the second quarter of 2019, they will start property sales in 2020, and the development should be completed in the first quarter of 2022.
To learn more about Hilton Grand Vacations timeshare resort developments or the status of this particular Waikiki property, please visit their official website.
