In fact, the Grand Wailea was the first property to join the brand named after the famous New York hotel. However, over the years, the Grand Wailea has continued to change hands, and this latest sale is just one of many.
Hopefully, though, this sale will be for the best. And, recently, the Grand Wailea underwent a massive pool renovation project. ADR would grow 2. RevPar would grow 2. Maui's RevPAR increased 6. In the luxury tourist district of Wailea, hotel occupancy increased 4. Blackstone is one of the nation's largest hospitality investors with , hotel rooms globally, according to its website.
Sign up today for industry news delivered to your inbox. Built as an idyllic fantasy mega-resort, it held a reputation as one of the most expensive hotels to ever be constructed. While the resort was under construction, it received harsh criticisms from analysts where many believed he was crazy for developing such an elaborate hotel.
These days, we know who is having the last laugh…. While that sounds teep, those rates look modest compared to what they charge these days. According the Hawaii Tourism Authority monthly reports, the Wailea resort is the hottest tourist area in Hawaii. I was born and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market.
Please do not hesitate to call me for your Maui real estate needs.
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