{"id":1004121847,"date":"2015-06-23T08:38:30","date_gmt":"2015-06-23T16:38:30","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353542"},"modified":"2020-05-14T02:10:45","modified_gmt":"2020-05-14T10:10:45","slug":"marriott-vacations-time-share-option-coming-to-the-big-island","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marriott-vacations-time-share-option-coming-to-the-big-island\/","title":{"rendered":"Marriott Vacations Time-Share Option Coming to the Big Island"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

\"Waikoloa<\/a><\/p>\n

Waikoloa Beach Marriott on the Big Island in Hawaii<\/p>\n<\/div>\n

Marriott Vacations, one of the world\u2019s largest time-share companies, agreed to purchase 240 rooms at the 555-key Waikoloa Beach Marriott Resort & Spa on the Big Island.<\/p>\n

According to the Pacific Business News<\/em><\/a>, the company is spending $38.5 million on the acquisition of these vacation ownership units, which it plans to convert into 112 timeshare condos.<\/p>\n

Upon completion of the transaction sometime next year, the Orlando-based company plans to spend an additional $45 million to $55 million on renovations. The new resort condos, which should be ready for occupancy by 2017, will become part of the Marriott Vacation Club Destinations program. Sales are expected to begin in 2016.<\/p>\n

The Waikoloa Beach Marriott Resort & Spa changed owners in February. The 16-acre property is currently owned by SMG | Hotel Waikoloa LLC, a joint venture between Colorado developer Silverwest Hotel Partners LLC, private equity firm Mariner Real Estate Management and an affiliate of Global Endowment Management, and managed by Marriott International.<\/p>\n

The partnership purchased the resort<\/a> <\/em>from a Blackstone affiliate for approximately $68 million, according to public records.<\/p>\n

Marriott Vacations currently operates more than 60 resorts with 400,000 owners and members across its world renowned timeshare brands, including Marriott Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club.<\/p>\n

Photo credit: www.marriott.com<\/em><\/p>\n

Check out an executive insight<\/a><\/em><\/strong> into today\u2019s timeshare industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Marriott Vacations, one of the world’s largest time-share companies, has recently agreed to purchase 240 rooms at the 555-key Waikoloa Beach Marriott Resort & Spa on the Big Island.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[],"class_list":["post-1004121847","post","type-post","status-publish","format-standard","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"\nMarriott Vacations Time-Share Option Coming to the Big Island - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marriott-vacations-time-share-option-coming-to-the-big-island\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marriott Vacations Time-Share Option Coming to the Big Island\" \/>\n<meta property=\"og:description\" content=\"Marriott Vacations, one of the world’s largest time-share companies, has recently agreed to purchase 240 rooms at the 555-key Waikoloa Beach Marriott Resort & Spa on the Big Island.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marriott-vacations-time-share-option-coming-to-the-big-island\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-23T16:38:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T10:10:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Waikoloa-Beach-Marriott-in-Hawaii.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Marriott Vacations Time-Share Option Coming to the Big Island\",\"datePublished\":\"2015-06-23T16:38:30+00:00\",\"dateModified\":\"2020-05-14T10:10:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/\"},\"wordCount\":237,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Waikoloa-Beach-Marriott-in-Hawaii.jpg\",\"articleSection\":[\"Honolulu\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-vacations-time-share-option-coming-to-the-big-island\\\/\",\"name\":\"Marriott Vacations Time-Share Option Coming to the Big Island - 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