May 26, 2016 | 79° | Check Traffic

Top News

Aston Waikiki Beach Hotel sells for $183M

Florida-based Inland American Lodging Group Inc. announced Monday that it has purchased the 645-room Aston Waikiki Beach Hotel for approximately $183 million.

 Marcel Verbaas, president and CEO of Inland American Lodging Advisor Inc., said that the 23-story hotel would provide the company with an opportunity to achieve high occupancy levels and premium RevPAR (revenue per available room) growth. 

“Waikiki comprises the most vibrant lodging market not only on Oahu, but throughout all of the Hawaiian Islands, and Oahu continues to be one of the top performing hotel markets in the nation,” Verbaas said in a written statement. 

Aston Waikiki Beach Hotel will continue to be managed by Aston Hotels & Resorts.

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 commentfeedback@staradvertiser.com.