Outrigger Hospitality Group has announced the signing of a sale-and-purchase agreement for the ownership of the Sheraton Kona Resort & Spa at Keauhou Bay, with the deal expected to close mid-April.
At that time, the hotel will be rebranded an Outrigger property. The company will draft a ‘property modernization masterplan’ in March.
The 509-room oceanfront property is on the island of Hawaii and boasts a spa, wedding chapel, traditional Hawaiian cultural center, fitness center, kid’s club, oceanfront pool and waterslide, two restaurants and four indoor meeting venues.
The move reflects Outrigger’s plans to expand in Hawaii, with the company recently acquiring the on-site luxury resort rental program at Honua Kai Resort & Spa on Maui.
It has also recently reinvested in the lifestyle hotel, Waikiki Beachcomber by Outrigger.
Jeff Wagoner, president and CEO of Outrigger Hospitality Group, commented: “Outrigger is uniquely positioned to steward this exquisite oceanfront property.
“With seven decades of leadership in Hawaii’s hospitality industry, we have the pulse of this market and look forward to sharing the legacy of this remarkable place in a responsible and sustainable manner.
“We are grateful for our partnership with landowner Kamehameha Schools and appreciate the opportunity to work with its team to further enhance the property in a way that complements the organization’s vision.”