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The Sheraton Princess Kaiulani Hotel has announced that it will close on Aug. 1, 2014, for a $500 million redevelopment. The hotel’s owner, Kyo-ya Hotels and Resorts, has stated that when the finished product reopens in late 2016 or early 2017, it will help to position Waikiki for continued growth.
Located across the street from Waikiki Beach, the Sheraton Princess Kaiulani currently features 1,142 rooms, including 10 junior suites.
The upcoming project promises a major renovation of the hotel’s Ainahau tower, which, when completed, will offer approximately 650 hotel rooms and suites. A new tower measuring no higher than 350 feet, with 300 hotel rooms and 135 condominium-style residences, is also undergoing plans for construction.
Kyo-ya stated that the new Sheraton Princess Kaiulani will offer a significantly upgraded guest experience. The redevelopment of the Sheraton Princess Kaiulani is the next big step in Kyo-ya’s billion-dollar investment in Waikiki.
The transformation of Kyo-ya’s properties began in 2007 with the renovation and rebranding of the historic Moana Surfrider as a Westin Resort and Spa. The Moana upgrade was followed by the transformation and repositioning of The Royal Hawaiian as a Luxury Collection Resort and the renovation of the Sheraton Waikiki.
The Sheraton Princess Kaiulani first opened its doors in 1955. It sits on the former Ainahau Estate, home to the last princess of Hawaii — the hotel’s namesake.