Capbridge Group Invests $300M into Maui’s First Hilton Grand Vacations Timeshare Property
- Oct 06, 2014
Japanese investment firm The Capbridge Group, through its local subsidiary, Capbridge Pacific LLC, is planning to invest $300 million into the development of Maui’s first Hilton Grand Vacations timeshare resort.
The new holiday destination is slated to rise at the site of the former Maui Lu Resort in Kihei, a 28-acre beachfront parcel Capbridge recently acquired. The transaction marks the company’s first venture in Hawaii.
Construction on the redevelopment project is expected to begin in late 2015 and be complete in 2017. Capbridge has selected Hilton Grand Vacations to manage the property’s timeshare sales and hotel operations.
Upon completion, the planned villa-style, Hawaiian resort will feature 388 one-, two- and three-bedroom residences. Amenities will include a super swimming pool, a fitness center, kids’ and teen centers, a private beach club, as well as a great lawn on Maui’s longest beach.
Located only 15 minutes from the Kahului Airport, the new holiday destination will also offer easy access to a variety of restaurant, shopping and nightlife destinations in Kihei and Wailea.
According to Will Beaton, president of Capbridge Pacific, the project will provide a significant improvement to Kihei and a major economic boost to the island of Maui.
“Maui continues to be one of the most desirable destinations for the vacation ownership market. Hawaii’s relationship, from both a geographic and business perspective, with both the U.S. mainland and the Asia-Pacific region, is a great fit with our company’s growth and investment strategy,” he said. “The plans for this resort, coupled with the quality of the Hilton Grand Vacations Club product and the strength of the Hilton brand, will offer visitors another exceptional vacation experience on Maui.”
The Capbridge Group is headquartered in Tokyo and has offices in Honolulu, San Francisco and Shanghai. The company’s Honolulu office is led by Beaton, who has more than 26 years of land development experience in Hawaii, including projects such as One Archer Lane and Wailea Beach Villas on the Valley Isle.
“Hilton Grand Vacations is thrilled to be a part of this new resort development, and we are excited to soon have a presence on the island of Maui,” added Mark Wang, president of Hilton Grand Vacations. “This new resort will be an outstanding addition to our portfolio of vacation destinations and ownership opportunities in Hawaii.”
On Maui, Hilton Worldwide also manages the Grand Wailea (pictured) as part of its Waldorf Astoria Resort brand.
Photo credit: www.grandwailea.com
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