Waikiki Trade Center to Become Boutique Hotel

Posted on 20 September, 2015 by Jodee Redmond

The Waikiki Trade Center, a Honolulu mixed-use high-rise has been selected to become a 230-key boutique hotel. The building’s owner, Coastwood Capital Group, a San Francisco-based firm, has entered into a partnership with The Chartres Lodging Group LLC, a San Francisco-based advisory company, to convert the 22 story, 248,000 square foot building into a hospitality property.

Waikiki Trade Center to Become Boutique Hotel

On completion the new hotel, which has yet to be named, will feature 230 guest rooms, along with a pool and entertainment deck on its eighth floor. There will be a mix of street and mezzanine level retailers for guests’ shopping conveniences. Nordstrom Rack will open its second store in Hawaii at the Trade Center next spring.

$61 Million Project

The cost of the project has been estimated at $61 million. Completion of the hotel has been set for the fall of 2016. The Queen Emma Land Co. owns the land where the building sits.

Kokua Hospitality, which is the management arm of Chartres Lodging will provide renovation support services, pre-opening tech services and property management services for the new hotel. On completion, the new hotel may operate under the Hyatt Centric brand. This brand caters to business travellers.

The Waikiki Trade Center redevelopment will bring more hotel rooms into the market, which has lost more than 5,000 of them since 2000. At present, high rise is under-utilised, since it is only 20 percent leased and used as an office building.

Related Posts

    No related posts found for this post.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme

America, Amazon Wants You!

UK Firms Battle To Survive

COVID-19 Grounds EasyJet Fleet

ECB Emergency Fight Back Aganist Covid-19

Aldi’s Expansion Plan

British Steel on the verge of collapse with over 20,000 jobs at risk

Paris watches as flames engulf one of France’s most famous landmarks

Debenhams on the brink of administration as board reject Ashley’s bid

Emmanuel Macron pushes for a new Europe with European Parliament elections on the horizon

Brexit impacts property market

Brexit uncertainty impacts the property market