KING KAMEHAMEHA’S Kona Beach Hotel was purchased by Investwest Financial/Pacifica Hotel Co. and a group of Hawaiian investors. The new owners have committed $25 million to a renovation that will emphasize the hotels historical setting as one-time home to the warrior king, Kamehameha. The hotel will remain open during the renovation, which will begin next spring. The purchase is the first in Hawaii for InvestWest Financial/Pacifica, which owns and operates hotels in California and Florida.
MORGAN STANLEY REAL ESTATE and Trinity Investments have completed a $575 million purchase of Maui’s 1,800-acre Makena Resort. The purchase includes 1,300 undeveloped acres, two golf courses and the 310-room Maui Prince Hotel.
STARWOOD HOTELS & RESORTS is negotiating to purchase or partner in the controversial expansion of the Turtle Bay Resort on Oahu’s North Shore. Newspaper reports, unconfirmed by Starwood, identify the company as a potential joint-venture partner with the current owner, Oaktree Capital [...]
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