Associated Press LIHUE, Hawaii (AP) – A Massachusetts-based firm has purchased the Kauai Marriott Resort. The 356-room hotel at Kalapaki Beach near Lihue was part of a package deal for four hotels bought by Hospitality Properties Trust for $101.5 million.
Associated Press
LIHUE, Hawaii (AP) – A Massachusetts-based firm has purchased the Kauai Marriott Resort.
The 356-room hotel at Kalapaki Beach near Lihue was part of a package deal for four hotels bought by Hospitality Properties Trust for $101.5 million.
The deal calls for Marriott International Inc. to continue to manage the Kauai property at least through 2019. A significant portion of the value for Marriott is the long-term management contracts.
HPT works closely with Marriott and already had purchased 31 hotels from Marriott and leased them back to the company.
The 640 employees at the Kauai Marriott Resort, which was opened in 1995, are unaffected because management will not change.
The Marriott’s 232-unit Kauai Beach Club, a timeshare operation on the same property as the hotel, is not a part of the transaction.
The three other hotels in the package deal are in California and Washington state.
Read upcoming editions of The Garden Island for more information.
