Luxury hotel owner paid $366M for Hawaii resort

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Host Hotels & Resorts, an owner of luxury hotels in the U.S. has paid $366 million for the 301-room Andaz Maui at Wailea Resort on Maui, public records show.
The purchase is part of Host Hotel’s acquisition of three Hyatt-operated hotels for $1 billion. The other hotels are located in San Francisco and in Florida.
The Maryland-based hotel company also owns three other hotels in Hawaii, including the Farimont Kea Lani on Maui, the Hyatt Place Waikiki Beach and the Hyatt Regency Maui Resort and Spa, according to its website.
Hawaii hotels continue to attract strong interest from offshore investors, mainly because of the state’s strong tourism sector, which is on the way to topping the 10 million annual visitor mark.
Expect to see continued interest in Hawaii hotels from offshore investors, with several hotels on the market across the state.

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