The Seibu Group has announced that they will no longer be trying to sell the Hawaii Price Hotel (Oahu), the Mauna Kea Beach Hotel (Big Island of Hawaii) or the Hapuna Beach Prince Hotel (Big Island of Hawaii). Seibu had valued the three properties at $500 million and had hoped to find a buyer for them, however a deal could not be made with any interested parties. In a letter to homeowners at the Mauna Kea Resort, vice president of operations, Jon Gersonde, stated, “While this process was extensive and the interest was high, a potential sale could not be consummated. Our parent company has expressed their renewed interest in their Hawaii assets and do not anticipate any further sales activity in the near future.” The Seibu group was able to sell the Makena Resort on the island of Maui in 2007 for $575 million.
Source: Honolulu Star Advertiser, 10-26-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
