Japanese investor buys Hawaiian hotel for $290m
Japan-based Resorttrust has completed its acquisition of The Kahala Hotel and Resort in Honolulu for $290 million, or $857,988 per unit. The sellers of the 338-room oceanfront destination resort were Trinity Investments, Ken Corp. and Sala Azabu Co.
The previous owners purchased the hotel in 2005 for $176 million.
The completed deal follows other Asian investors coming to Hawaii. In September, Hawaiian developer The Resort Group formed a partnership with Chinese investment group Reignwood International to develop 1,100 acres of Kauai's Princeville Resort in Hanalei, Hawaii.
And, according to data by Real Capital Analytics, the top two buyers of the Hawaiian hospitality sector in the past 24 months were Japan-based Kokusai Kogyo and Singapore’s GIC. Kokusai Kogyo acquired an interest in five hotels va