The Ritz-Carlton on Maui has sold for almost $1 million a room — one of the state’s highest hotel sales on a per-room basis ever. A joint venture among funds managed by the Real Estate Group of Ares Management, L.P. (NYSE:ARES), SMW Hospitality LLC (a joint venture between affiliates of Square Mile Capital Management LLC and Wafra Inc.), and Trinity Real Estate Investments LLC, today announced the sale of The Ritz-Carlton, Kapalua in Maui, Hawaii, to Blackstone Real Estate Partners, an affiliate of Blackstone Group (NYSE:BX). The 297-key hotel, which includes 107 condos located within a dedicated wing known as the Residences, is part of the 23,000-acre master planned Kapalua resort on Maui, home to the celebrated Kapalua Wine and Food Festival and the PGA Tour’s Tournament of Champions event. The resort is renowned for its world-class golf courses, an award-winning tennis facility, golden sand beaches and myriad restaurants and shops.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peter Gelsey Realtor
Wailea Makena Real Estate, Inc.
Maui, HI
direct (808) 344-8000
www.petergelsey.com
email peter@petergelsey.com