HONOLULU — Outrigger Hospitality Group has signed a purchase and sale agreement to acquire the 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 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.”
“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 purchase comes on the heels of Outrigger’s reinvestment at Waikiki Beachcomber by Outrigger and the acquisition of the on-site luxury resort rental program at Honua Kai Resort & Spa on Maui.
The 22-acre Sheraton Kona Resort & Spa at Keauhou Bay is positioned on lava-rock cliffs and includes more than 500 rooms and suites, a spa, a wedding chapel, a traditional Hawaiian cultural center, a fitness center, a kid’s club, an 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.
One the sale is finalized, 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.