Outrigger Hospitality Group has signed a purchase and sale agreement to acquire ownership of Sheraton Kona Resort & Spa at Keauhou Bay, a 509-room oceanfront property on the Island of Hawaii. The transaction is expected to close in mid-April 2020, at which time the property will be rebranded as an Outrigger Resort.
The investment is directly aligned with Outrigger’s strategic business plan to expand its presence in Hawaii and beyond, furthering its mission to be The Premier Beach Resort Brand in the World.
The former Sheraton-managed resort will be the first full-service Outrigger property outside of Oahu among the Hawaiian Islands. It is located about a 20-minute drive from the township of Kona.
“Outrigger is uniquely positioned to steward this exquisite oceanfront property; with seven decades of leadership in Hawaii’s hospitality industry, we have a pulse on this market and look forward to sharing the legacy of this remarkable place in a responsible and sustainable manner,” said Jeff Wagoner, president and CEO of Outrigger Hospitality Group.
The acquisition of a new full-service resort marks another significant investment by Outrigger Hospitality Group into the Hawaii market. The purchase comes on the heels of an extensive reinvestment at the lifestyle hotel, Waikiki Beachcomber by Outrigger and acquisition of the on-site luxury resort rental program at Honua Kai Resort & Spa on Maui.
The lush 8.9-acre resort is perched prominently atop dramatic lava-rock cliffs and includes a spa, wedding chapel, traditional Hawaiian cultural centre, fitness centre, kid’s club, oceanfront pool and water slide, two restaurants and four indoor meeting venues.
Upon finalisation of the sale, Outrigger will begin drafting a property modernisation masterplan.
Guests will have the ability to book a stay at this property on the Outrigger website as of mid-March, 2020.