Blackstone buying Hyatt Waikiki leasehold for $450 million
May 23, 2017 | 77° | Check Traffic

Top News

Blackstone buying Hyatt Waikiki leasehold for $450 million


Blackstone Group LP, the world’s largest hotel owner, agreed to buy the leasehold on the Hyatt Regency Waikiki Beach Resort and Spa for $450 million and plans to remodel the Hawaii property, which includes a shopping mall, said a person with knowledge of the transaction.

 Blackstone is acquiring the ground lease from a venture between Goldman Sachs Group Inc.’s Whitehall real estate funds unit, which owns the majority, and Hyatt Hotels Corp., which will continue to operate the Oahu resort, said the person, who asked not to be named because the sale hasn’t been completed.

 The leasehold has a term of about 75 years, the person said.

No comments
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email