Acquisitions & Hotel Openings

Hawaii's Four Seasons Resort Hualalai Sold in $500 mil Deal

KA'UPULEHU-KONA, HI, April 03, 2006. According to a HOTEL BUSINESS(R) source, the 243-key Four Seasons Resort Hualalai here has been sold in what could be one of the highest priced hotel transactions of all time.

The source revealed that the Kajima family of Japan has sold the resort and its related golf course and land for more than $500 million or about $2.1 million per key. A partnership between Michael Dell's MSD Capital and Rockpoint Group acquired the asset in a deal brokered by Jones Lang LaSalle Hotels.

Jones Lang LaSalle Hotels could not comment on the transaction and calls seeking comment from MSD Capital were not returned.

Coming Up In The April Online Hotel Business Review

Feature Focus
Guest Service: Customer Service is a Key Business Differentiator
In today's hyper-competitive, hyper-connected global marketplace, customer experience has assumed a major role as a key business differentiator. There is a growing understanding that competition based on products or price alone is no longer a viable strategy. Since feature or function advantages can be quickly duplicated and/or enhanced, product innovation is no longer the differentiator it once was. And competition based on price impairs profitability. On the other hand, research indicates that 86 percent of consumers said they would be willing to pay more for a better customer experience. To protect both market share and margins, hotel companies must provide customers with consistent, compelling experiences - before, during, and after their purchases - across all major channels. There are many things organizations can do to deliver a superior customer experience. Management must align everything a company does with the customer service experience in mind. They must assign high value to anticipation of customers' real needs and desires, and they must incentivize and reward personal initiative in the pursuit of customer satisfaction. They must respond quickly to customer requests. They must ensure that customer interactions are highly personalized, and they must deliver the right information to the right place at the right time. And perhaps most importantly, upper management must create a culture where customer service is valued and esteemed, taught and rewarded. Customer experience leaders who can drive this kind of cultural change will radically affect their companies? competitive position and business performance. The April issue of the Hotel Business Review will document what some leading hotels are doing to cultivate and manage guest satisfaction in their operations.