Outrigger Hospitality Group to acquire Sheraton Kona Resort & Spa
Say aloha to the Outrigger Kona Resort and Spa.
Outrigger beach resort brand expands its footprint with a planned purchase of the oceanfront Sheraton Kona Resort & Spa at Keauhou Bay.
Outrigger Hospitality Group announced it has signed a purchase and sale agreement to acquire ownership of Sheraton Kona Resort & Spa at Keauhou Bay, a 509-room property in a prime oceanfront location on the Island of Hawaii. The transaction is expected to close in mid-April 2020, at which time the property will be rebranded as an Outrigger Resort.
The investment is directly aligned with Outrigger’s strategic business plan to expand its presence in Hawaii and beyond, furthering its mission to be “the premier beach resort brand in the world.”
“Outrigger is uniquely positioned to steward this exquisite oceanfront property; with seven decades of leadership in Hawaii’s hospitality industry, we have the pulse of this market and look forward to sharing the legacy of this remarkable place in a responsible and sustainable manner,” said Jeff Wagoner, president and CEO of Outrigger Hospitality Group.
The acquisition of a new full-service resort marks another significant investment by Outrigger Hospitality Group into the Hawaii market. The purchase comes on the heels of an extensive reinvestment at the lifestyle hotel, Waikiki Beachcomber® by Outrigger® and acquisition of the on-site luxury resort rental program at Honua Kai Resort & Spa on Maui.
The lush 22-acre resort is perched prominently atop dramatic lava-rock cliffs and includes more than 500 rooms and suites, spa, wedding chapel, traditional Hawaiian cultural center, fitness center, kid’s club, oceanfront pool and waterslide, two restaurants and four indoor meeting venues – including a 10,000 square-foot convention center, the largest on the Kona Coast. The turquoise waters surrounding the resort are home to one of the only places in the world where people can consistently swim with manta rays.
Upon finalization of the sale, Outrigger will begin drafting a property modernization masterplan that is aligned with the local culture and further elevates the grounds and guest experience.
“We are grateful for our partnership with landowner Kamehameha Schools and appreciate the opportunity to work with its team to further enhance the property in a way that complements the organization’s vision,” added Wagoner.
Outrigger is renowned for being a brand that perpetuates the history and traditions of the places it does business. Its corporate compass is a values-based process called “The Outrigger Way” – caring for the guest, the host and the place – that was founded 25 years ago under the direction of Hawaiian historian and scholar, Dr. George Kanahele. In this spirit, Outrigger is committed to perpetuating the history of this iconic resort, while sharing the rich culture of Keauhou Bay, the birthplace of King Kamehameha III.
PPHE to plough €250 million into European hotel development
The fund, which is subject to regulatory approval, is intended to enable strategic identification, acquisition and development of hotels, focusing primarily on value-add investments across Europe. Roman initiation The repository will launch with the initial...
German hotel group takes over compatriot company’s sites
Michel will remain the owner and landlord of the sites while Achat operates them and will retain all hotel employees. Further cooperation The deal means that Achat is expanding its presence in new tourism and leisure destinations in Germany, including the Bavarian...
Aleph and Fauchon team up for Middle East and Africa hotel development
With a focus on cosmopolitan cities and luxury leisure destinations, the Fauchon L’Hôtel portfolio will comprise boutique hotels, retreats, beach clubs and residences in exceptional locations with superior culinary concepts and indulgent private services. Fauchon...
KSL to invest in newly-acquired California boutique hotel portfolio
KSL intends to invest across the collection, providing guests a greater suite of amenities and more ways to engage with the local communities. Fine five The quintet is located midway between Los Angeles and San Francisco and comprises Avila Lighthouse Suites in Avila...
Starwood and AJ Capital team up to expand American outdoor brand into hotels
Field & Stream Lodge Co, inspired by the American retail brand Field & Stream established in 1871, will be a branded hospitality platform aiming to create modern lodging across the USA. Authentic brand Starwood and AJ Capital believe the new brand’s origins...
Pineapple Hospitality opens Staypineapple brand to licensing
The 10 boutique sites across the US will now be operated by Staypineapple Hotels Inc, with the portfolio opening the doors to third-party licensing and property management. Brand history Pineapple Hospitality began managing and operating privately-owned boutique...