The location is one of south Orlando's prime commercial hubs and home of the Premium Outlet Center which is helping to market the time shares under a 10-year arrangement with Hilton. The value of the contract was not disclosed.

Hilton's news release did not give the construction value of the new time share property but construction industry estimators familiar with similar ventures tell GlobeSt.com the project will come in at around $150,000 per unit or an estimated $57.6 million. Hilton's other time share community, the 468-unit Hilton Grand Vacations Club at Sea World International Center, was built five years ago at an estimated hard construction cost of $70 million, according to construction industry estimators.

Starwood Vacation Ownership opened the 200-unit Sheraton's Vistana Villages in January at an estimated hard construction cost of $25 million and plans to add 1,200 units over the next five years. Marriott's Horizons at Orlando community also opened last month with 102 units at an estimated construction cost of $10.2 million. Marriott plans to grow the project to 1,000 units in five years.