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Tuesday, April 6, 2010

Transfer Smart News: Hilton Timeshares’ Expansion in Hawaii Creates 700 Jobs

Although many owners try to get out of their timeshares nowadays, the establishment of such industry on the other hand creates a number of benefits to the economy. One of its great benefits is the creation of jobs. Take for example the recent case of Hilton Hawaiian Village which will be building two new timeshare towers as part of a 10-year master plan at the 22-acre resort. According to Jerry Gibson, area vice president and managing director for Hilton Hawaii, altogether, the towers would nearly double the inventory of timeshare units to 1,200 from the current 650 and create about 700 jobs.

The construction of the first tower is slated to begin in 2013 and be completed in 2015. It will be a 37-story building with 300 rooms. The construction on the second tower, with 25 floors and 250 rooms, is scheduled to begin by 2010. Meanwhile, the project is expected to cost hundreds of millions of dollars. The building of two new timeshare towers will also be a part of a 10-year master plan at the 22-acre resort.

As Gibson said, Hilton decided to devote all the new units to its timeshare pool based on the success in recent years with other timeshare projects, including the Grand Waikikian, which opened in late 2008 at the Hilton Hawaiian Village.

For a number of consumers particularly vacationers, timeshares may have been viewed negatively due to some of its disadvantages. Some owners also are thinking about getting rid of their timeshares to unload their financial burden. Despite these, this industry remains a big contribution to the economy. Also, as some timeshare companies are expanding their operations such as the Hilton Hawaii, jobs were also made available which is very important especially with our crisis-stricken economy.

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