WAIKIKI HI—Blackstone has begun work on a new 418-unit vacation ownership tower at Hilton Hawaiian Village Waikiki Beach Resort.
An official groundbreaking ceremony marked the construction launch of The Grand Islander by Hilton Grand Vacations Club, slated for completion in early 2017. A Blackstone-managed fund, Blackstone Real Estate Partners VI, is providing the capital for this new tower. It has appointed Hilton Grand Vacations, the vacation ownership division of Hilton Worldwide, to provide vacation ownership sales and marketing services, resort operations, timeshare homeowners' association management and loan servicing.
The 37-floor tower will be constructed adjacent to the Tapa Tower along Kalia Road and will offer views of the Pacific Ocean and immediate access to the sprawling 22-acre oceanfront Hilton Hawaiian Village Beach Resort.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
