New HGVC in Orlando?

[1Kflyerguy]

Anyone hear anything about a new HGVC in Orlando?

I was going through Hilton's most recent earnings announcement and found this paragraph in the section on the timeshare business:

"In the second quarter of 2015, 59 percent of intervals sold were developed by third parties. Hilton Worldwide's overall supply of timeshare intervals as of June 30, 2015 was approximately 124,000 intervals.

With the addition of a recently signed condo-hotel conversion in Orlando, Hilton Worldwide increased its timeshare supply to nearly 136,000 intervals, or about six years of sales at current pace, with over 83 percent developed by third parties."

Not sure we needed another location in Orlando... but guess its a popular destination.

The last part about six years of inventory of units could explain why the they not been very aggressive with ROFR lately...

 

[Talent312]

If true... Can't imagine what they're thinking
Perhaps an officer at MetroWest Hqtrs had a personal interest.
.

 

[got4boys]

Hilton Worldwide does own Waldorf Astoria Orlando and Hilton Bonnet Creek after selling the Waldorf Astoria New York earlier this year (February 2015).

There are a lot of inexpensive deals out there for those room (except for the expensive resort fee).

If this is the property that is being converted to timeshares...of course many people would buy.

I would love to see this property as the next HGVC resort.

 

[bnoble]

The key phrase is "developed by third parties." Wyndham is using this strategy as well, as it gives them much better leverage on capital.