Hilton Grand Vacations Inc. (NYSE: HGV) celebrates today the opening of Ocean Tower by Hilton Grand Vacations Club with a traditional Hawaiian blessing and ceremony. The resort is HGVs fourth property in Waikoloa and its first on Hawaii Island with direct oceanfront views.
Over the course of this multi-phase project, there will be approximately 350 units comprised of studios, one-, two- and three- bedroom suites including upgraded penthouse residences. The projects initial phase, which is now complete, features 72 units consisting of 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, says Mark Wang, president and CEO of Hilton Grand Vacations. 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.
All completed suites offer resort or ocean views, and have a full kitchen, private balcony, sleek walk-in shower with soaking tub and spacious living and dining areas. A unique Hawaiian design is showcased throughout the resort with textures and finishes that are native to the Big Islands rich, natural environment.
Amenities include a check-in and departure lounge and an exclusive fitness center, which will be available in the near future. Owners and guests will also have access to the amenities of the Hilton Waikoloa Village, including three pools, a salt water lagoon, Dolphin Quest, tennis courts, a tram and boat system, resort shops, restaurants and the Kohala Spa.
As part of HGVs plan to grow its inventory in Hawaii, Ocean Tower became its ninth property to open in Hawaii. Future openings are targeted for Maui in 2021 and Waikiki in 2022. Other select properties in HGVs Hawaii portfolio include The Grand Islander by Hilton Grand Vacations Club, Waikiki, which opened in 2017; Kings Land by Hilton Grand Vacations Club (2008); Kohala Suites by Hilton Vacations Club (2006) and The Bay Club at Waikoloa Beach Resort (1997).
Statements in this press release that are not historical facts may be forward-looking statements. Forward-looking statements involve substantial risks and uncertainties that could cause the outcome to be materially different. Words such as may, will, seeks, anticipates, believes, estimates, expects, plans, intends, would or similar expressions indicate a forward-looking statement; however, not all forward-looking statements include these identifying words. Actual results may differ materially from those contemplated by such forward-looking statements, including those set forth in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of HGVs most recent Annual Report on Form 10-K and HGVs most recent Form 10-Q; as such, Risk Factors may be updated from time to time in subsequent reports. Further, forward-looking statements speak only as of the date they are made, and HGV undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by law.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE: HGV) is recognized as a leading global timeshare company. With headquarters in Orlando, Florida, HGV develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club and The Hilton Club, providing exclusive exchange, leisure travel and reservation services for more than 300,000 club members. For more information, visit www.hgv.com and www.hiltongrandvacations.com.