The Resort Group, which is headed by Jeff Stone, the master developer of the 642-acre Ko Olina Resort, and a subsidiary of The Harry and Jeanette Weinberg Foundation, sold the nearly 1 million square feet of land to the Chinese company, which has investments in various sectors, such as real estate, finance, energy and media.
The total development will include a 150-unit condo and a 150-room hotel, with the condo having access to the hotel amenities.
There also will be commercial tenants as part of the project.
China Oceanwide Holdings did not specify the luxury brands that it would use for either tower.
In addition to its current real estate development projects in Los Angeles and New York, the company said it is looking for other potential projects in the U.S. market.
Oahu’s first Four Seasons Hotels & Resorts-branded property is scheduled to open at the Ko Olina Resort master-planned community in the spring of 2016. PBN first reported on the project, which involved the closure and rebranding of a JW Marriott hotel.
The Four Seasons’ commitment to bring its brand to Ko Olina Resort for its first property on Hawaii’s most populated island has drawn a lot of interest from other luxury hospitality brands, including Hong Kong’s Shangri-La Hotels and Resorts, as first reported by PBN.
That five-star luxury hotel brand currently has a presence in Asia-Pacific, North America, Middle East and Europe, but not Hawaii.
Pacific Business News