The property, slated to open in the first quarter of 2001, becomes the 21st vacation ownership property in the HGVC resort portfolio. Sales of the resort vacation intervals will commence in the first quarter of the year 2000.

"We are delighted to enhance the HGVC collection of resorts with a prominent new presence in Hawaii," said Don Harrill, chief executive of Hilton Grand Vacations. "The unsurpassed Waikiki beachfront and the spectacular setting of the 20-acre Hilton Hawaiian Village provide an ideal location for the resort. We look forward to welcoming a growing family of Hilton Grand Vacations Club Members to the island of Oahu."

The resort will feature one, two, and three-bedroom villas, as well as bi-level penthouse units. In keeping with the HGVC style of accommodations, each villa will feature a fully equipped kitchen, spacious living and dining areas, and panoramic views of the beachfront, harbor, and Diamond Head. Resort guests will also enjoy immediate access to Waikiki's best white-sand beach, and the extensive variety of restaurants, entertainment venues, world-class shopping, and recreational amenities of the Hilton Hawaiian Village. 

Hilton Grand Vacations is a wholly owned subsidiary of Hilton Hotels Corp. (HHC), recognized internationally as a preeminent hospitality company. With headquarters in Orlando, HGVC develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The company also operates an innovative club membership program, Hilton Grand Vacations Club(r) (HGVClub(r)), providing exclusive exchange, leisure travel and reservation services for more than 22,000 HGVClub Members.