BlackSand Capital, a Honolulu-based
\nreal estate investment firm, officially completed the purchase of the Royal Lahaina
\nResort Dec. 9.<\/p>\n
The terms of the sale, including financial
\ndetails, are not being disclosed.<\/p>\n
Royal Lahaina Resort sits on 27 acres on
\nMaui\u2019s Kaanapali Beach. The 500-room property, which opened in 1962, features three pools, a spa and
\nluau grounds.<\/p>\n
\u201cThe pandemic has been a challenging
\ntime for all of us in Hawaii, and the visitor industry has been especially hard
\nhit,\u201d B.J. Kobayashi, BlackSand\u2019s chairman and CEO, said in a statement. \u201cAs a
\nHawaii-based company that invests in Hawaii, we see this acquisition as an
\nopportunity to be part of the recovery effort, not just for the visitor industry
\nbut for our local communities and our entire state.”<\/p>\n
BlackSand has hired Highgate Hotel
\naffiliate Highgate Hawaii Concession Co. to operate the property. BlackSand
\nand Highgate also partner on the Aston Waikiki Beach Hotel.<\/p>\n
The property was previously owned and
\noperated by Hawaiian Hotels and Resorts, and updates were completed on the
\nlobby, lounge, pool area, restaurant, guestrooms and beachside cottages while
\nthe resort was shut down in 2020 during the Covid-19 pandemic.<\/p>\n
Stephen Hinck has been named the new
\ngeneral manager for the resort. Hinck, a 37-year veteran in the Hawaii
\nhospitality market, joined Highgate in 2018 as general manager of the Hilton
\nGarden Inn, Waikiki.<\/p>\n