COURTESY OF TWAIN NEWHART The beachfront Courtyard by Marriott Kauai at Waipouli Beach is going on the market, following a $30 million renovation.

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Beachfront Courtyard
by Marriott goes on
the market

Fresh off a multimillion-dollar makeover, the beachfront Courtyard by Marriott Kauai at Waipouli Beach will go on the market Monday.

The property's owner, San Francisco-based Presidio Group, is set to complete the hotel's $30 million renovation by the middle of this month. It was built in the late 1970s as a Holiday Inn.

"They've rebuilt the property from the inside out and they've added the strength of the Marriott name," said Mark Bratton, vice president at Colliers Monroe Friedlander Inc., which with Colliers International Hotels is the listing agent for the property.

The hotel, surrounded by a grove of palm trees on a 10.4-acre site on the eastern shore of Kauai, is in Waipouli Beach, where there has been a recent resurgence in commercial projects, Bratton said.

"An asking price has not been set, but the owners are expecting offers in the mid-$70 million (range)," Bratton said. "There's a lot going on in Waipouli Beach."

The value of the resort's location has been confirmed by condominium developers' recent purchases of land on each side of the property, Bratton said.

"A few parties have already expressed interest in purchasing the upgraded hotel," he said.

Presidio, which bought the 311-room property about 2 1/2 years ago for an undisclosed price, has added a business center and day spa to the resort, which also features a restaurant, lounge, health club, gift shop, luau facility, and roughly 4,700 square feet of meeting space. Amenities such as free high-speed wireless Internet have also been installed.

In addition, Presidio upgraded the beachfront wings of the resort, which now contain 28 oversized guest rooms and two 1,400-square-foot oceanfront suites, Bratton said.

The renovation, which is being done in a Polynesian style with furniture, art and decorations from Bali, should increase average daily rates at the hotel, Bratton said.

"The renovations have transformed this hotel into a more upscale property," Bratton said.