The famed 338-room Kahala Hotel & Resort in Honolulu has been sold for US$300 million (US$887,000 per room) to Nagoya, Japan-based Resorttrust Inc., making it the highest per-room price paid for a hotel on Oahu and the next-to-highest per-room price paid for a Hawaii hotel. The deal is expected to close in September, according to seller Kahala Hotel Investors.
Management company Landmark Hotels said in a statement that it does not expect any change to its management or services.
Since the hotel’s opening in 1964 after being developed by Charlie Pietsch and Conrad Hilton just US$12 million, it has changed owners four times and undergone two major renovations. It operated as the Kahala Hilton for decades.
Honolulu-based Trinity Investments purchased the then-Kahala Mandarin Oriental in 2005 and made it an independent hotel. Landmark took over management in 2006 and renamed the hotel the Kahala Hotel & Resort.
Most recently, the hotel completed a US$52 million renovation project to its rooms and public areas in 2009.