Outrigger Revives Plan to Acquire Ownership of Sheraton in Keauhou
Outrigger Hospitality Group announced today that it has revived its plan to acquire ownership of Sheraton Kona Resort & Spa at Keauhou Bay, a 509-room property in a prime oceanfront location on the Island of Hawai‘i.
The transaction is expected to close in late August 2021, at which time the property will be rebranded as Outrigger Kona Resort and Spa. Outrigger owns 25 hotels, resorts and vacation condos across the Hawaiian Islands.
“We are grateful for the opportunity to return to Hawai‘i Island with a full-service Outrigger resort and share the legacy of this remarkable place in a responsible and sustainable manner,” said Jeff Wagoner, president and CEO of Outrigger Hospitality Group. “The COVID-19 pandemic put this purchase on a brief pause, so we’re glad to be back on track and look forward to welcoming guests to our new home.”
This investment is directly aligned with Outrigger’s strategic business plan to expand its presence in Hawai‘i and beyond, furthering its mission to be The Premier Beach Resort Brand in the World. Just last week, Outrigger announced the purchase of three hotels in Southern Thailand which are located on some of the most sought-after beach locations in Asia Pacific: Phuket, Khao Lak and Koh Samui. The combined acquisitions add nearly 1,000 new rooms to Outrigger’s global portfolio.
The purchase of a new full-service resort in Kona underlines the hospitality company’s deep commitment to its home Hawai‘i market. Other recent investments include Outrigger Reef Waikiki Beach Resort’s $80 million transformation, which is scheduled for completion at the end of this year and Waikiki Beachcomber by Outrigger’s $35 million modernization, creating the first ‘craft’ hotel in Hawai‘i.
Outrigger is renowned for being a brand that perpetuates the history and traditions of the places where it does business. Its corporate compass is a values-based process called “The Outrigger Way” – caring for the host, the guest and the place – that was founded 25 years ago under the direction of Hawaiian historian and scholar, Dr. George Kanahele. 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.
“Upon finalization of the sale, we will begin outlining a property modernization masterplan that is aligned with the local culture and further elevates the grounds and guest experience. We are pleased to resume our partnership with landowner Kamehameha Schools and enhance the property in a manner that honors the legacy of this land,” added Wagoner.
The 22-acre resort is perched prominently atop dramatic lava-rock cliffs and includes an oceanfront pool and waterslide, spa, wedding chapel, cultural center, fitness center, kids club, two restaurants and four indoor meeting venues – including a 10,000 square-foot convention center, the largest on the Kona Coast. The turquoise waters surrounding the resort are home to one of the only places in the world where people can consistently swim with manta rays.
Introductory rates at Outrigger Kona Resort and Spa start at up to 30% off and can be booked starting July 26, 2021, for stays beginning in late August 2021, at outrigger.com/kona. Additionally, Outrigger intends to add the property to the Outrigger DISCOVERY loyalty program, which rewards guests for staying at Outrigger, as well as more than 500 hotels in the DISCOVERY portfolio.