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Dec. 3, 2012

Sheraton Hotels & Resorts Completes $230M Renovation of Hawaiian Properties

By Adriana Pop, Associate Editor

Starwood Hotels & Resorts Worldwide Inc. has announced the completion of an approximately $230 million renovation of four of its Sheraton properties in Hawaii.

The multi-year revitalization project included the $188 million renewal of the Sheraton Waikiki resort on Oahu. The 31-floor hotel features 1,636 renovated rooms, new landscaping and pools, redesigned convention facilities, as well as new restaurants and bars.

Sheraton Hotels & Resorts and the properties’ owners also invested $6.5 million in the renovation of the 508-room Sheraton Maui Resort & Spa, $16 million in the improvement of the 394-room Sheraton Kauai Resort, and $20 million in the remodeling of the Sheraton Kona Resort & Spa at Keauhou Bay.

With more than 400 hotels in 70 countries around the world, Sheraton Hotels & Resorts is Starwood’s largest and most global brand. Sheraton recently completed a $6 billion global revitalization of its properties, and is investing another $6 billion in global expansion over the next three years.

In other news, the Pacific Business News reports that the owner of the Turtle Bay Resort on Oahu has filed a supplemental environmental impact statement for the $770 million redevelopment of the 880-acre oceanfront property.

Plans call for two new hotels totaling 625 units, 590 new residential units and 160 workforce housing units to be developed over a period of 11 years.

The first phase of the expansion project could break ground in 2014 and includes the construction of 375 timeshare units and 225 residential units. Canada-based resort development firm Replay Resorts Inc. will develop the land, the newspaper reports.

Since 2010, the existing 443-room Turtle Bay Resort has been owned by a consortium of international investment management firms. The property’s expansion plans have been reduced by approximately 60 percent from an original 1985 master plan that called for the construction of 3,500 new hotel rooms and residential units.

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