The Hyatt Hotels Corporation is stepping in to operate the Coco Palms Resort in Wailua, Hawaii. Khon2 reported that the Kauai hotel has plans to reopen in 2017, having closed since Hurrican Iniki hit the island in Sept. 11, 1992, damaging the hotel.
Zacks reported that the restoration of the hotel will begin in early 2015, and once completed to hotel will operate under its old name and the Hyatt brand. The hotel will have 331 guestrooms, 32 bungalows, multiple restaurants, lounges and swimming pools and a community center.
According to The Garden Island, Coco Palms Hui held talks regarding the property with Starwood Hotels and Resorts as well, though Hyatt was eventually chosen. The renovation of the hotel has plans to reuse historic and unique elements of the remains of the hotel, and when completed the resort will be the second Hyatt hotel on Kauai, alongside the Grand Hyatt Kauai Resort and Spa in Poipu, which opened in 1991.
"Our endeavor to revitalize the grounds and rebuild, all while preserving the soul of the iconic resort, is an ambitious project,” Tyler Green, principal at Coco Palms Hui, told The Garden Island. “Hyatt is the perfect leader to steer a thoughtful, honorable and rejuvenated guest experience at The Coco Palms Resort.”
This is the latest in Hyatt's into the resort space, with its last big purchase being the $717-million buy of the Peabody Orlando Hotel in Florida. Earlier in 2013, Hyatt entered the all-inclusive segment through a partnership with Playa Hotels and Resorts, picking up a 20-percent ownership stake in the company.