Marriott sells Westin Maui Resort
Friday, 04 Apr, 2017
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Marriott International has sold a flagship Hawaii hotel it acquired in the merger with Starwood Hotels & Resorts.
Marriott offloaded the Westin Maui Resort & Spa for about $317 million but will continue to manage the hotel.
Westin was one of 10 brands Marriott inherited after the Starwood deal.
The buyer is a joint venture among funds managed by Trinity Investments and Oaktree Capital Management.
"The sale demonstrates the strength of the Westin brand and reaffirms our commitment to our asset-light strategy as we continue our merger integration," said Leeny Oberg, Marriott chief financial officer in a statement.
We are proud to announce the sale of this iconic resort property and to expand our portfolio with our strong global partners, Trinity and Oaktree," Oberg added.
The oceanfront Westin Maui Resort & Spa features 759 rooms in two 12-story buildings.
Amenities include five swimming pools, five F&B outlets and signature Heavenly Spa by Westin,
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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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