St. Regis Hotel Sale Slated for November

Jim Karlovsky, RB | (808) 282-7981 Local Kauai News Leave a Comment

The Garden Island Newspaper recently confirmed that the St. Regis hotel in Princeville is targeted to officially close escrow sometime in November, and that the buyer will be Starwood Capital.  The sale would include the 252-room hotel covering approximately 23 acres of land fronting Hanalei Bay, as well as the nearby Makai Golf Club, which covers roughly 290 acres of prime Princeville land.  The acquisition price was not officially disclosed, however an internal listing of the current owner’s assets dated 9/30/17 allocated a value just under $212 million, and there is some speculation in the market that the sales price may be close to $225 million.  It is believed that Starwood may plan to include the asset in part of a ultra-exclusive new brand of hotels called “1 Hotels,” which would necessitate a substantial renovation of the hotel and could lead to closing down operation for an extended period of time.  The St. Regis Resort and Makai Golf Club employ a total of about 600 people, making the complex one of the North Shore’s largest employers.

For more information, read the complete article in The Garden Island Newspaper: Deal Struck for St. Regis.

About the Author

Jim Karlovsky, RB | (808) 282-7981

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Having worked as a licensed Real Estate Broker in 3 states (HI, CA & IL), with $6.7 Billion in real estate sold, leased, advised upon and/or formally valued for clients, and with the experience of more than 150 completed transactions involving luxury residential, vacant land, retail, office and industrial property types, I bring a wealth of knowledge and experience to the real estate advisory and sales services I provide to my clients here on Kauai. I hold myself to the highest ethical standards and always place my clients’ interests above my own. With an unwavering and unsurpassed work ethic, I work to advance the objectives of my clients with integrity and in a manner that fosters a sense of trust and respect.