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New Hilton time-share property boasts 99% within the last 2 weeks.

Bucking the trend in Europe, Hilton claims it has already sold 99% of its timeshare stock in its new build. The 38 story Grand Islander timeshare complex in Hawaii opened 2 weeks ago and consumers are flooding in. The site is multi-functioning 418-unit, consisting of the internal massing of two- and three-bedroom units. The Complex is designed by a local architecture firm G70 and the interior design came into existence by Southern California-based Indidesign.

Mr Mark Wang, president and CEO of Hilton Grand Vacations which is a subsidiary of Hilton Worldwide Holdings, explained that the building intends to support Hawaii’s tourism industry by creating a flux of loyal travellers.

“We will end up having more than 20,000 new owners” he claimed who will enjoy great holidays”. Being timeshare holidays the travellers will be repeat visitors and could spend millions of dollars on the island. The U.S state will not have to spend a “cent” marketing to these individual units because they already have an absolute reason to return.

Mr George Szigeti, president and CEO of the Hawaii Tourism Authority equally agreed to explain that this new property will assist in the boosting of Hawaii’s tourism trade, noting that timeshare properties were 10 percentage points more occupied than hotels in 2016.
“This is a spectacular new timeshare property, he added, “as it will add hundreds of new units onto the market, this is great news for Hawaii tourism.”

He described the property as “luxurious without being pretentious,” with accents of Hawaiian culture throughout the edifices and space.

The cost per unit can range from $40,000 to $400,000 per week and Wang said the resort’s timeshare properties in Hawaii had and still retained 90 percent occupancy, with 45 percent of customers travelling from Japan, 46 percent from the Mainland and 9 percent from other countries.

“We try to keep all markets in mind [the resort explained], for example, the two double beds are much more popular with the Japanese market whereas Mainland visitors love the king bed,” Wang said, noting that most visitors from the Mainland come from the U.S. West.

In January, Park Hotels & Resorts Inc. and Hilton Grand Vacations Inc. split off from Hilton Worldwide Holdings to unlock value within the companies.

“It has allowed us to accelerate growth and drive capital back into the business and increase the value for our shareholders,” Wang said.

Posted on: 20th March 2017