Hilton Grand Vacations Inc. (NYSE: HGV) announced Maui Bay Villas by Hilton Grand Vacations, which will be HGV’s 10th property in Hawaii and its first on the island of Maui.
“Our customers consistently rank Maui as one of their top requests for expanding our portfolio of resorts, and we’re thrilled to add this spectacular destination for our owners and guests,” says Mark Wang, president and CEO, Hilton Grand Vacations. “Expanding our brand presence to a third Hawaiian Island will further support Net Owner Growth by attracting new customers and enhancing the experience we offer our current owners.”
Maui Bay Villas is located on a 27-acre site featuring 740 feet of oceanfront with views of Maalaea Bay. The resort will offer 388 units of one-, two- and three-bedroom suites, averaging 962 square feet, among a dozen one- to four-story buildings that are arranged in a low-density, resort-type campus. Planned amenities include a large clubhouse with restaurant, keiki club, fitness center, grab-and-go market, large “super pool” with pool bar, oceanfront beach club and more than 15 acres of open-lawn recreational space. The resort site is located on Maui’s southwestern coast at 575 South Kihei Road.
The initial phase of the project includes 131 units within four buildings, plus all the supporting buildings and improvements, and is scheduled to be completed in the first quarter of 2021. Sales are expected to begin in the first quarter of 2020. Development costs for this project were included in the overall 2019-2021 inventory spending guidance that was provided during HGV’s Investor Day presentation on Dec. 4, 2018.
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