Pacifica Hotels has sold the 452-key Courtyard by Marriott King Kamehameha’s Kona Beach Hotel on the Big Island of Hawaii. The buyer and sale price were not disclosed.
The beachfront property, which consists of two connected six-story towers, is located at 75-5660 Palani Road on 13 acres of land in the Kailua-Kona neighborhood. Amenities include 20,000 square feet of indoor and outdoor meeting space, more than 18,000 square feet of retail, a full-service spa, a fitness facility, a yoga studio, a 24-hour business center, a swimming pool and patio, tennis courts and five dining establishments.
The Marriott Courtyard property, which underwent a significant renovation in 2011, offers direct access to Kailua Pier and is within walking distance to downtown Kona, Kahaluu Beach Park and Kailua Village.
An HFF investment advisory team of Scott Hall, Tony Malk, Tracey Goo, Aaron Lapping and Blake Malecha arranged the deal on behalf of the seller.
“The King Kamehameha resort is a special place with a famed history,” Hall said, in prepared remarks. “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.”
Earlier this year, Hilton Grand Vacations announced it was developing a 388-key timeshare resort on Maui, Hawaii, marking the company’s first project on the island. Elsewhere in the state, HGV maintains nine properties.