Hilton Hawaiian Village - Ala Moana Parcel update (from Park Hotels and Resorts)

[alwysonvac]

Park Hotels & Resorts first revealed its intention to acquire parcels along Ala Moana Boulevard to investors in December 2016

Park Hotels and Resorts spun off from Hilton Worldwide in 2016 and owns hotels in numerous major markets including the Hilton Hawaiian Village, Hilton Waikoloa Village and Hilton Midtown - https://www.pkhotelsandresorts.com/portfolio


From January 2017 Article (link)
”...Park Hotels & Resorts Inc., the real estate investment trust recently spun off by Hilton Worldwide Holdings Inc., may develop a new hotel or time-share tower at the iconic Hilton Hawaiian Village Waikiki Beach Resort, which is the largest in the Hilton chain of hotels and the biggest resort in Hawaii, Pacific Business News has learned.

Park Hotels & Resorts (NYSE: PK), in a recent presentation to investors, revealed that a future project at the Hilton Hawaiian Village could involve developing a luxury hotel, time-share or residential project that would include retail at its “Ala Moana Land Parcel” located between the Grand Waikikian Tower and the Kalia Tower along Ala Moana Boulevard in Waikiki...”

From March 2019 Article (link)
“...Park Ala Moana LLC closed on the purchase of the 9,802-square-foot parcel at 1831 Ala Moana Blvd., site of an ABC Stores location, on Dec. 20 in 16 transactions that totaled $10.12 million. The sellers were members of the Jong family.

Park Hotels & Resorts is in contract to buy the two other parcels that would complete the 20,141-square-foot connection between the Grand Waikikian and the Hilton-owned parcel at the corner of Ala Moana Boulevard and Kalia Road — a 5,977-square-foot parcel at 1835 Ala Moana Blvd., owned by 1835 Ala Moana LLC, and a 4,362-square-foot parcel at 1841 Ala Moana Blvd., site of the Kobe Japanese Steak House, that is owned by SMK Inc., parent of ABC Stores...”

From November 2019 Presentation

From November 2020 Presentation

 

[alwysonvac]

Ala Moana Parcel location

 

[dayooper]

So, from the November 2020 presentation, it looks like Park Hotels and Resorts are potentially looking to create/are creating timeshares in Oahu (Ala Moana), The Big Island (is this Ocean Tower?), New Orleans, NYC Midtown (Quinn, Central on 5th), and Chicago (Miracle Mile? and one on The Lakeshore).

These might not all be timeshares or even partnered with HGVC, but it seems that Park Hotels and Resorts has a very nice relationship with Hilton Hotels. I’m not sure what other “alternative uses” there are, but I’m sure there are others. One of things Mark Wang has been saying is that they love the fee-for-service model and they have been converting hotels like crazy latey.