Holliday Fenoglio Fowler, L.P. (HFF) reports 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 Hawai‘i’s Big Island.
Courtyard by Marriott King Kamehameha’s Kona Beach Hotel. PC: HFF
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 Lū‘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, Kahalu‘u Beach Park and Kailua Village via Ali‘i Drive or, as it is colloquially known in Hawai‘i, the “Royal Footsteps along the Kona Coast.”
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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.”
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