Mauna Kea Resort Services LLC, which is an affiliate of Prince Resorts Hawaii Inc., has closed the sale of the 8,000-square foot Hapuna Villa and 96 of the hotel’s 350 guest rooms at Hapuna Beach Prince Hotel to an affiliate of Angelo Gordon & Co. and development partner West Point Investment Corporation.
Proceeds from the sale will be used to fund renovations of the hotel’s public areas and remaining 254 guest rooms, enhance The Club at Mauna Kea amenities, and fund improvements to the golf club and fitness facilities at Hapuna Beach Prince Hotel. Additionally, renovations and enhanced programming in food and beverage will deliver elevated offerings and unique experiences for hotel guests and the community.
“This deal comes at an ideal time as Hapuna Beach Prince Hotel embarks on an exciting future,” said Mauna Kea Resort vice president of operations, Craig Anderson. “The new business model means continuation of good jobs for our team members and a beautiful hotel for guests to enjoy for years to come.”
Prince Resorts Hawaii will continue to operate all 351 guestrooms at Hapuna Beach Prince Hotel for the next 12 months while plans are prepared by the development team for conversion of the 96 guestrooms into new 5-star resort residences within one of Hawaii’s most admired resorts.