Host acquires Honolulu hotel
Host Hotels & Resorts, Bethesda, Maryland, has acquired the fee-simple interest in the 426-room Hyatt Place Waikiki Beach in Honolulu for US$138.5 million from an affiliate of Chartres Lodging Group LLC and Morgan Stanley Real Estate Fund VII Global. Kokua Hospitality will continue to manage the hotel subject to a franchise agreement with Hyatt. The hotel underwent a US$45 million renovation and converted to a Hyatt Place in 2012. It is located just 1.5 blocks from Waikiki Beach and is also near the Waikiki Aquarium, the Honolulu Zoo and the Kalakaua shopping/entertainment district.
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