Silverwest Hotel Partners acquired Waikoloa Beach Marriott from an affiliate of Blackstone Real Estate Advisors of New York for an undisclosed price. The Waikoloa Beach Marriott is a 555-room resort hotel that sits on 16 oceanfront acres on the shore of Anaeho`omalu Bay, on the Big Island’s Kohala Coast.
Silverwest, a Denver-based firm, is acquiring the hotel on behalf of SMG I Hotel Waikoloa in a joint venture with Mariner Real Estate Management and an affiliate of Global Endowment Management (GEM).
Silverwest Hotel Partners currently has two Colorado hotel projects underway: a 113-room Element by Westin in Basalt, and an 88-room Hampton Inn and Suites in Silverthorne. Construction of both hotels began in October 2014 and both hotels are set to open for the 2015-16 ski season.