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I wish i could remember the publication the article was in showing the average expense of 825K, unfortunately the guy was pulling out all kinds of papers and articles out to validate his points...or just to confuse... In any event it was published in an article, so probably based on a press release or similar and might include other expenses as part of the project.
Since the other info points to more units than the 200 my salesperson reported, my guess is he was wrong or perhaps they are doing 200 in the early phases, with the balance later in the project.
If the final unit count from HGVC is 200, and they got 600 hotel rooms and suites, then I would agree they are building 2&3 BR units. If end up with 450 HGVC from the 600 then there just has to a chunk of studios in the mix
If the final unit count from HGVC is 200, and they got 600 hotel rooms and suites, then I would agree they are building 2&3 BR units. If end up with 450 HGVC from the 600 then there just has to a chunk of studios in the mix
I am not as confident they will build studios. One of the salespeople recently told me "studio owners don't end up as happy owners." While i tend to discount most of what Timeshare Sales people say, I can see truth in that statement. I don't recall the last time on TUG someone recommended buying a studio...
In addition what is the last resort HGVC built with Studio's? I don't think any recent HGVC development in Hawaii has a studio, neither does Oceans 22 or Oceans Oak.
Just had owner update at Kingsland two weeks ago. I asked about HWV Ocean Tower and he said they would have all unit sizes, including studios. He said they would be open next year. Like all new developments, exiting direct purchasers will not be able to upgrade.
Just had owner update at Kingsland two weeks ago. I asked about HWV Ocean Tower and he said they would have all unit sizes, including studios. He said they would be open next year. Like all new developments, exiting direct purchasers will not be able to upgrade.
Just had owner update at Kingsland two weeks ago. I asked about HWV Ocean Tower and he said they would have all unit sizes, including studios. He said they would be open next year. Like all new developments, exiting direct purchasers will not be able to upgrade.
The physical release of rooms will occur in increments over the next four years, with approximately 20% of the inventory transferred in ’17 and the balance of the rooms (~460) will be released by end of 2019.
So it could be that units are available for next year.
The way he phrased it was "it will be available for booking beginning next year" making it sound like early 2018 - which is in line with what has been posted here.
We have lived in Hawaii for many years and I believe the Waikoloa Hilton is built on leasehold land. This is not uncommon and often not disclosed by timeshare companies in Hawaii during presentation. The Hyatt Residences on Kaanapali Beach on Maui are built on leasehold lands but you do not hear this mentioned in presentations but it is buried in the fine print of the contract. We were just out at Waikoloa Hilton last week and it was full and no sign of building. Also, every owner update we have gone to in the last year says that HGVC's new business model is to buy existing properties and not to build?
This would probably fit their new business model since they are buying an existing hotel building and renovating/converting it to timeshare units, not building it rom the ground up. Both HGVC and Marriott Vacation Club are pursuing "asset light" expansion activities where they try to avoid ground-up new construction - although HGVC did just open a new ground-up project in Hilton Head, and owns property for a potential ground up project on Maui that is still in the permitting/development phase. Asset light can also mean working with a third-party who fronts the money to buy/build/renovate the units, with HGVC/MVC buying the units in some phased manner over time, and in so doing, not tying up their capital for an extended period prior to the actual sale of the intervals.
72-Hour Ocean Tower Super Sale SALE STARTS FRIDAY!
Take advantage of nearby construction to book an incredible low rate, starting at $129 for resort view! Portions of Ocean Tower will undergo construction beginning October 16, 2017. Work will take place Monday to Friday, between 8am and 5pm.
Sale period:
Starts Friday, October 6 at 12pm Hawaii Time
Ends Monday, October 9 at 12pm Hawaii Time
Stay between (additional blackout dates may apply):
Have a car? Use self park or valet Self-parking is available for $27 per day. However, we recommend using our Valet Parking service for $37 per day to avoid the long uphill walk from the parking lot.
Resort Charge Benefits Our standard Daily Resort Charge of $35 (plus tax) per room, per night includes the following benefits:
Internet access in your room
Hawaiian Cultural Classes (Hula, Lei Making and Ukulele - see below for details)
PlayStation® 3 access with unlimited movies and games (DVD Now card can only be used in your specified tower. Limit 2 checked out at any given time.)
Local, toll-free, and credit card calls (No access fee)
Complimentary 15 minute photo session and souvenir keepsake - Reservations required for photo session
20% discount on beach toys at the saltwater lagoon
Keiki Pool Activities & Scavenger Hunt - Meet at the Kona Pool Towel Desk
Fitness or Yoga Class at the Kohala Spa - Reservations required, contact Kohala Spa at extension 1228 for reservations
Pool Toy Inflation at Kona Pool and Lagoon Beach recreation desks - Inflatable toys available for purchase
Big Island Bird Talk with resident Wildlife Specialist
Hawaiian Cultural Classes take place at the Hawaiian Cultural Center located next to Kohala Spa in Lagoon Tower. These activities have limited space so reservations are required to participate. With the resort charge, the first class for each person, each day is complimentary. Additional classes each day are $15 per person. Please call Ext. 1463 to make a reservation. View the Resort Activities schedule, showing class times.
Thanks, I guess I missed that. I find HHV unbearably crowded now; and I haven't even been back since they started on the Grand Islander. I can't fathom what it will be like if they build yet another tower between Kalia and GW.
Depends when you go, knowing that Hawaii is always busy - it's relative. Since we don't have kids, we are never there during what we call "high family/school weeks - months."
Mark Wang, CEO and President of HGVC discussed the Ocean Tower conversion during their recent earning call. He stated the sales for this resort will start in early 2018, with first occupancy planned for late 2018. He also confirmed this will be higher priced that anything they have previously done in Waikoloa. He also referred to this as sequel resort, not sure exactly what means. Perhaps that its targeted to existing owners.
Jesus, more expensive than KL? I guess Hawaii sells, and prices will keep skyrocketing. I have a tough time reconciling paying 2x Lagoon tower though for a marginally better room.
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