POSTED: 6:32 a.m. HST, Jun 18, 2013
LAST UPDATED: 4:45 p.m. HST, Jun 18, 2013
The Maryland-based RLJ Lodging Trust has acquired the Courtyard by Marriott Waikiki Beach hotel for $75.3 million, or what the company characterized in a statement as approximately $189,000 per key.
The 399-room hotel is at 400 Royal Hawaiian Ave., between Kuhio Ave. and Manukai Street, about two blocks from Ala Wai Blvd.
RLJ Lodging Trust says it has expanded into Hawaii with this purchase, made using cash available on its balance sheet.
The company now owns 149 properties including 148 hotels with more than 22,300 rooms, as well as one planned hotel conversion, in in 22 states and the District of Columbia.