The Blackstone Group, the new owners of the Hyatt Regency Waikiki Beach Resorts and Spa, has announced that they will be spending over $100 million to renovate the property. The property was originally built about 40 years ago and has approximately 1,230 guest rooms. David Nadelman, the general manager for the resort, stated, "It will be a very thoughtful renovation that brings Hawaii into the building and gets Hyatt out into the community. The people of Honolulu deserve this because this property is iconic and it's wonderful that Blackstone wants to put that level of investment into it." Renovations are expected to begin in the middle of 2014 and take approximately 18 months to complete.
Source: Honolulu Star Advertiser, 10-28-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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