Hilton Grand Vacations opened the first phase of the Ocean Tower by Hilton Grand Vacations Club on Thursday, a redeveloped hotel tower at the Hilton Waikoloa Village on Hawaii’s Big Island.
The Ocean Tower, the fourth time-share property in Waikoloa Resort for Hilton Grand Vacations (NYSE: HGV), is a multi-phase project that is converting the former 600-room hotel tower to 350 studio, one-, two- and three-bedroom suites and upgraded penthouse residences.
The initial phase of the project has 72 units, including 18 studios, 24 one-bedroom suites, 24 two-bedroom suites and six three-bedroom suites.
“We are thrilled to open this magnificent oceanfront resort in one of the most beautiful destinations in the world,” Mark Wang, president and CEO of Hilton Grand Vacations, said in a statement. “Ocean Tower continues to showcase our strong relationship with Hilton and Park Hotels & Resorts, marked by our first property within the iconic Hilton Waikoloa Village. Our expansion in Hawaii reflects our long-term commitment to providing a lifetime of vacations for our owners and guests in their most sought-after destinations.”
Hilton Grand Vacations acquired the tower two years ago from Park Hotels & Resorts (NYSE: PK), which owns the Hilton Waikoloa Village property, and took 160 rooms out of operation that year for the first phase of construction.
The new suites each have full kitchens, private lanais and living and dining areas. Amenities, including a check-in and departure lounge and a fitness center, will be available in the near future. Owners and guests will also have access to the amenities of the Hilton Waikoloa Village hotel next door.
Hilton Grand Vacations is planning to build a new time-share tower in the center of Waikiki, on the site of the former King’s Village shopping center, and is also planning to open its first property on Maui in 2021.