Kyo-ya Hotels & Resorts LP has announced that they will be spending $500 million to redevelop their Sheraton Princess Kaiulani Property in Waikiki. The project will take about three years to complete and will hopefully change to the three-star property into a four-star category hotel. Area managing director, Kelly Sanders, stated, "Our owners have an amazing commitment to the community and to our associates. They are putting this kind of money out to say that we believe in Waikiki and in its future. With the way that the hotel is being planned, the view corridors will be fantastic, and that comes at a premium," Sanders said. "The property will concentrate on providing a lifestyle brand that really does speak to the experience of the customer. In order for us to drive success, we have to offer our guests a product that they can enjoy when they come to Waikiki."
Source: Honolulu Star Advertiser, 11-8-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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