Mirae Asset Global Investments, the South Korean financial services firm, is reportedly exploring the sale of the Hyatt Regency Waikiki Beach Resort & Spa.
The potential deal could value the iconic 1,230-room hotel at approximately $650 million. This move comes as part of a strategic assessment of the firm’s portfolio following the refinancing of the property in 2021.
The Hyatt Regency, located along the famous Kalakaua Avenue with stunning views of Waikiki Beach, has been a significant asset for Mirae since its acquisition in 2016 for $755.6 million from Blackstone.
The resort features extensive amenities, including multiple dining options, an outdoor pool, and a spa, making it a prime destination for tourists visiting Hawaii.
The decision to sell is influenced by a recovering tourism market in Hawaii and increasing interest from investors in high-value real estate.
Mirae’s consideration of this sale aligns with broader trends in the hospitality sector, where Asian investors are actively seeking opportunities in U.S. markets.
Industry experts suggest that the potential sale reflects both the resilience of Hawaii’s tourism sector and Mirae’s strategy to optimize its investment portfolio.
The firm has engaged advisors to facilitate this process, indicating a serious intent to evaluate offers.
As discussions continue, stakeholders in the hospitality industry will be closely monitoring developments surrounding this potential transaction and its implications for future investments in Hawaii’s vibrant tourism landscape.
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