Wyndham Vacation Ownership has acquired the Grand Beach Palace resort in St. Thomas, the U.S. Virgin Islands for an undisclosed sum.

The resort, formerly known as the Renaissance Grand Hotel, will be converted into the company’s flagship Caribbean time share property.

The beachfront property, which has been vacant for more than two years, will undergo a $40 million renovation, including the conversion of 290 hotel rooms into 143 fully furnished time share units. It’s expected to be open for its first guests in late 2008.

Orlando-based Wyndham Vacation Ownership is the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies.

Source: orlando.bizjournals.com

This entry was posted on Saturday, January 27th, 2007 at 12:27 am and is filed under Real Estate, Resort. Tags: Caribbean Grand Hotel Hotel Rooms Islands Orlando Property Renaissance Resort Virgin Islands Wyndham Wyndham Vacation Ownership Wyndham Worldwide . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.