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865-Acre Hualalai Resort Fetches $550M

HAWAII-Sources familiar with the transaction tell GlobeSt.com the sale price for the resort was in the mid-$500-million range, making it one of the largest hotel deals in US history. The hotel's average daily rate and average occupancy are among the highest in the US.

By Brian K. Miller | Updated on June 22, 2006

HAWAII-The Hualalai Resort here has changed earlier this month for around $550 million, making it one of the largest hotel deals in US history. The developer, Tokyo-based Kajima Corp., sold the 865-acre to a joint venture that includes MSD Capital, the private investment firm of Dell computer founder Michael Dell and his family, and an investment fund of Boston-based Rockpoint Group.

Hualalai at Historic Ka’upulehu is one of the most exclusive master-planned residential resort communities in the world. Located 15 minutes north of Kona International Airport on the Big Island, the property includes the 234-room Four Seasons Resort Hualalai at Historic Ka’upulehu, a partially developed 300-unit residential community, two golf courses. The hotel opened in 1994. Its average daily rate and average occupancy are believed to be upward of $750 and 90%, respectively, putting it atop the Hawaii hotel market and among the best in the US.

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