Korea's Mirae Asset considers Hyatt Regency Waikiki Beach Resort buy

Hyatt Regency Waikiki Beach Resort and Spa

South Korea's Mirae Asset investment company may purchase the Hyatt Regency Waikiki Beach Resort and Spa in Honolulu. If the deal goes through, it could reach as much as $800 million.

The company is one of Asia’s largest financial services firms, and previously acquired the Fairmont Orchid hotel on Hawaii Island for $200 million last May. 

In 2013, New York's Blackstone Group bought the leasehold interest in the 1,230-room Waikiki hotel for $450 million. In 2008, Goldman Sachs’ Whitehall Street Real Estate Funds, partnered with Hyatt Hotels Corp., purchased the hotel from its bankrupt Japanese owners for $410 million.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

According to the hotel workers' union, executives from Mirae Asset were in town to discuss the sale, but a final decision has not yet been made. 

Sources: Hawaii News Now, Pacific Business News

Suggested Articles

Demand came in 67,000 rooms lower during the week ended July 4 than the previous week, according to Jan Freitag, STR’s SVP of lodging insights.

The In-Seat Contactless Platform is meant to give guests touch-free control over food and beverage at hotel restaurants.

As the economy slowly begins to right itself, hotels can look toward an unexpected way to save on operating costs: their trash.