Outrigger Hospitality Group has signed a purchase order and sale settlement to amass possession of Sheraton Kona Resort & Spa at Keauhou Bay, a 509-room property in a primary oceanfront location on the Island of Hawaii.
The transaction is anticipated to shut in mid-April, at which period the property will likely be rebranded as an Outrigger Resort.
The funding is instantly aligned with Outrigger’s strategic marketing strategy to broaden its presence in Hawaii and past.
“Outrigger is uniquely positioned to steward this beautiful oceanfront property; with seven many years of management in Hawaii’s hospitality trade, now we have the heart beat of this market and sit up for sharing the legacy of this outstanding place in a accountable and sustainable method,” mentioned Jeff Wagoner, president of Outrigger Hospitality Group.
The acquisition of a brand new full-service resort marks one other important funding by Outrigger Hospitality Group into the Hawaii market.
The acquisition comes on the heels of an in depth reinvestment on the way of life resort, Waikiki Beachcomber by Outrigger and acquisition of the on-site luxurious resort rental program at Honua Kai Resort & Spa on Maui.
The plush 22-acre resort is perched prominently atop dramatic lava-rock cliffs and contains greater than 500 rooms and suites, spa, wedding ceremony chapel, conventional Hawaiian cultural centre and a health centre.
The turquoise waters surrounding the resort are house to one of many solely locations on the planet the place individuals can persistently swim with manta rays.
Upon finalisation of the sale, Outrigger will start drafting a property modernization masterplan that’s aligned with the native tradition and additional elevates the grounds and visitor expertise.