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The Kahala Hotel sells for $300M

A Japanese company buys the playground for the famous, which opened 50 years ago

By Allison Schaefers

POSTED: 01:30 a.m. HST, Aug 01, 2014

~~<p>The Kahala Hotel &amp; Resort has been sold to Japanese-based Resorttrust Inc. for $300 million, which equates to $887,000 per room, the next-to-highest per-room price paid for a Hawaii hotel and the highest per-room price paid for an Oahu property.</p>
<p>That's a pretty penny for a resort that cost its original owners Charlie Pietsch and Conrad Hilton just $12 million to build. Opening rates at what was called the Kahala Hilton in 1964 averaged about $26 a night for a regular room and $150 a night for the Presidential Suite. Today nightly room rates start at about $495, and the resort's two-bedroom Presidential Suite goes for $4,000, while its two-bedroom Imperial Suite nets about $10,000.</p>
~~

The Kahala Hotel & Resort has been sold to Japanese-based Resorttrust Inc. for $300 million, which equates to $887,000 per room, the next-to-highest per-room price paid for a Hawaii hotel and the highest per-room price paid for an Oahu property.

That's a pretty penny for a resort that cost its original owners Charlie Pietsch and Conrad Hilton just $12 million to build. Opening rates at what was called the Kahala Hilton in 1964 averaged about $26 a night for a regular room and $150 a night for the Presidential Suite. Today nightly room rates start at about $495, and the resort's two-bedroom Presidential Suite goes for $4,000, while its two-bedroom Imperial Suite nets about $10,000. Login for more...



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