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 May Online Hotel Business Review

Feature Focus
Hotel Sustainable Development: Integrating Practices for the Environment and the Bottom Line
The term “sustainable development” was first coined in 1987. In a report entitled, “Our Common Future,” the Brundtland Commission defined sustainable development as follows: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” This definition immediately caught on. In the business world, it is sometimes referred to as a triple bottom line – capturing the concept that investments are profitable, good for people and protective of the environment. Within the hotel industry, companies have taken an active role in committing themselves to addressing climate change and sustainability. Hotel operations have realized that environmentally sound practices not only help the environment, but can lead to cost reductions, business expansion, and profit growth as consumers increasingly seek environmentally sustainable products and services. In a recent survey by Deloitte, it was noted that 95% of respondents believe that the hotel industry should be undertaking “green” initiatives. Additionally, 38% of respondents said they made efforts to identify “green” hotels before traveling, and 40% said they would be willing to pay a premium for the privilege. These results suggest that consumers want and expect sustainability in their travel plans. In response to these trends, many hotel companies and on-line travel agencies have even begun offering their consumers an opportunity to purchase carbon offsets to reduce the environmental impact of their trips. The May issue of the Hotel Business Review will document how some leading hotels are integrating sustainability practices into their hotels and how their operations, consumers and the environment are profiting from them.