Yacht fleet owner buys W Honolulu hotel
Local investor Brian Anderson is selling the property near Diamond Head, which will get a new name
The W Honolulu-Diamond Head hotel in Waikiki is being sold to a company affiliated with the operator of a large fleet of private yachts in Hawaii.
The hotel's current owner, Brian Anderson, has reached an agreement to sell the property toDiamond Head Pacific Capital LLCfor an undisclosed amount, said David Uchiyama, regional director of communications forStarwood Hotels & Resorts Worldwide Inc., which manages the property.
The sale of the 51-room boutique hotel at the foot of Diamond Head near Kapiolani Park is scheduled to close at month's end, Uchiyama said.
Upon closing, the W brand will be removed, and the hotel is tentatively to be renamed the Resort Hawaii Diamond Head, Uchiyama said. Although some managers are expected to leave, most of the staff will stay at the hotel, he said.
"It should be business as usual," he said.
Uchiyama identified the buyer as Diamond Head Pacific Capital, whose agent is listed as Chad Allenbaugh. The hotel marks Allenbaugh's second tourism-related venture in Hawaii. He also is president and chief executive ofDiamond Head Pacific Group Inc., operator of a fleet of 14 sailing yachts. The company offers charters and sailing lessons.
Anderson did not return calls. Allenbaugh could not be reached late yesterday.
Anderson, a local real estate investor, bought the W Honolulu in 2004 from Los Angeles-based investment firmColony Capital Inc. for an undisclosed price.