New owners plan major renovation of Ocean Resort Waikiki // (c)
2010 Ocean Resort Waikiki
The 451-room twin-tower Ocean Resort Hotel Waikiki will undergo a complete renovation, rebranding and repositioning under its new owner, the Chartres Lodging Group. The San Francisco hotel investment and advisory firm recently completed purchase of the hotel in a joint venture with a fund managed by Morgan Stanley Real Estate Investing.
Kokua Hospitality, an independent management firm affiliated with Chartres Lodging, will take on the management of the hotel.
"We're delighted to enter the Hawaii market with the acquisition of Ocean Resort in the heart of Waikiki, one of the most vibrant destination resorts in the world," said Robert Kline, Chartres Lodging president. "We are committed to investing in a significant renovation and rebranding of the property that will clearly raise the standard of the accommodations and amenities and offer guests a new first-class experience."
Located on the Diamond Head end of Waikiki and one block from Waikiki Beach, Ocean Resort Hotel Waikiki is close to the Honolulu Zoo, Waikiki Aquarium and Kapiolani Park.
Plans call for Chartres Lodging to renovate, rebrand and reposition the Waikiki property over the next 18 months. According to a Chartres spokesman, the renovation will feature a renewed pool deck area with its ocean views, a total redesign of the lobby and a full refurbishment of the guestrooms and kitchenettes.
The first phase of the renovation will begin with the hotel lobby and the 19-story Pali Tower, which will be closed in May or June 2011 when work is expected to begin. Upon completion and reopening of the Pali Tower in November 2011, the 14-story Diamond Tower will be closed and renovated, with completion of all property renovations expected by April 2012.