SAN DIEGO--(BUSINESS WIRE)--Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Courtyard by Marriott King Kamehameha's Kona Beach Hotel, a 452-room, full-service beachfront hotel in Kailua-Kona on Hawaii’s Big Island.
The HFF team marketed the property on behalf of the seller, Pacifica Hotels.
Courtyard by Marriott King Kamehameha's Kona Beach Hotel was extensively renovated and converted to one of the most unique Marriott Courtyard hotels in the world in 2011. The hotel comprises two connected six-story towers that feature more than 20,000 square feet of flexible indoor and outdoor meeting space; more than 18,000 square feet of retail, including a full-service spa; state-of-the-art fitness facility; yoga studio; 24-hour business center; outdoor pool and patio; tennis courts; and five food and beverage outlets, including Honu’s on the Beach Restaurant, Billfish Poolside Bar & Grill and The Island Breeze Hawaiian Lu’au.
The hotel is situated on 13 acres of pristine beachfront land on Kailua Bay at 75-5660 Palani Road in the heart of Kona’s cultural center. The hotel has direct access to the Kailua Pier, Kona’s primary point of onboarding and disembarking for cruise ships, sportfishing, scuba diving and snorkeling. The hotel and pier are also “ground zero” for the world-famous Ironman World Championships. Additionally, Courtyard by Marriott King Kamehameha's Kona Beach Hotel is within walking distance to downtown Kona, Kahaluu Beach Park and Kailua Village via Ali’i Drive or, as it is colloquially known in Hawaii, the “Royal Footsteps along the Kona Coast.”
The HFF investment advisory team that arranged the transaction consisted of senior managing director Scott Hall, managing director Tony Malk, director Tracey Goo and analysts Aaron Lapping and Blake Malecha.
“The King Kamehameha resort is a special place with a famed history,” Hall said. “Pacifica Hotels had a creative long-term vision for the asset and executed their business plan in a remarkable manner. The buyer understands the dynamic fundamentals of the Big Island, the uniqueness of the hotel and the continued upside that will be realized through this investment.”
About Pacifica Hotels
Pacifica Hotels was formed in January of 1993 to consolidate the hospitality operations of Invest West Financial Corporation, which has been involved in the acquisition, development, refurbishing and operating of quality hotel properties and other commercial real estate properties for almost 30 years. Today, Pacifica Hotels is the largest owner and operator of boutique hotels on the Pacific coast. Pacifica Hotels’ 40 independent and flagged properties in key California cities from San Diego to San Francisco, as well as Hawaii and Florida, feature outstanding locations, AAA 3 and 4-Diamond ratings, upgraded amenities and high standards of guest service. For complete hotel descriptions and reservations, visit www.pacificahotels.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.