Outrigger to buy 509-room Sheraton in Hawaii

Outrigger Hospitality Group signed a purchase and sale agreement to acquire ownership of the 509-room Sheraton Kona Resort & Spa at Keauhou Bay in Kailua-Kona, Hawaii. The purchase, another significant investment by Outrigger into Hawaii, comes on the heels of its reinvestment at the lifestyle hotel Waikiki Beachcomber by Outrigger in Honolulu and acquisition of the on-site luxury resort rental program at Honua Kai Resort & Spa in Lahaina.

The transaction is expected to close in mid-April, at which point the property will be reflagged as an Outrigger Resort. Upon finalization, Outrigger plans to draft a property modernization masterplan to align the hotel with local culture and further elevate the grounds and guest experience. The landowner is and will continue to be Kamehameha Schools

The 22-acre resort includes a 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.

“Outrigger is uniquely positioned to steward this exquisite oceanfront property; with seven decades of leadership in Hawaii’s hospitality industry, we have a pulse on this market and look forward to sharing the legacy of this remarkable place in a responsible and sustainable manner,” Jeff Wagoner, president/CEO of Outrigger Hospitality Group, said in a statement.

Outrigger currently operates 37 properties with more than 7,000 rooms in Hawaii, Fiji, Thailand, Guam, Mauritius and the Maldives.