Outrigger to Acquire the Sheraton
One of Kona’s iconic resorts is set to change ownership in April.
On Tuesday, Outrigger Hospitality Group announced it has signed a purchase sale agreement to acquire ownership of the Sheraton Kona Resort & Spa at Keauhou Bay. The transaction is expected to close in mid-April, at which time the 509-room property will be rebranded as an Outrigger Resort.
“Outrigger is uniquely positioned to steward this exquisite oceanfront property; with seven decades of leadership in Hawai‘i’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 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 acquisition of a new full-service resort marks another significant investment by Outrigger Hospitality Group into the Hawai‘i 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.
Kona’s 22-acre resort is perched prominently atop lava-rock cliffs and includes more than 500 rooms and suites, spa, wedding chapel, traditional Hawaiian cultural center, fitness center, kid’s club, oceanfront pool and waterslide, two restaurants and four indoor meeting venues – including a 10,000 square-foot convention center, the largest on the Kona Coast. The waters surrounding the resort are home to one of the only places in the world where people can consistently swim with manta rays.
Upon finalization of the sale, Outrigger will begin drafting a property modernization masterplan that is aligned with the local culture and further elevates the grounds and guest experience.
“We are grateful for our partnership with landowner Kamehameha Schools and appreciate the opportunity to work with its team to further enhance the property in a way that complements the organization’s vision,” added Wagoner.
Outrigger is renowned for being a brand that perpetuates the history and traditions of the places it does business, officials stated in a press release Tuesday.
“Its corporate compass is a values-based process called “The Outrigger Way” – caring for the guest, the host and the place – that was founded 25 years ago under the direction of Hawaiian historian and scholar, Dr. George Kanahele,” the release states. “In this spirit, Outrigger is committed to perpetuating the history of this iconic resort, while sharing the rich culture of Keauhou Bay, the birthplace of King Kamehameha III.”
Guests will have the ability to book a stay at this property on the Outrigger website as of mid-March, 2020. Find out more at outrigger.com/kona.