Grand Wailea Resort said to be changing hands for USD1.1 billion
Maui’s Grand Wailea Resort is reportedly changing hands for $1.1 billion, which marks the second most expensive hotel deal ever in the US.
Blackstone Group is said to have reached an agreement to acquire the resort from Singapore’s GIC Pte.
The transaction value would be second only to the $1.9 billion sale of Manhattan’s Waldorf Astoria to China’s Anbang Insurance Group Co.
Grand Wailea, also a Waldorf Astoria branded resort, has 780 rooms, three restaurants, a spa and several swimming pools.
It covers 40 acres on the Maui’s southwest shore.
Blackstone bought Oahu’s Turtle Bay Resort last year for nearly $300 million.
Neither Blackstone nor GIC have officially confirmed the deal yet.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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