W Honolulu to be Sold to Diamond Head Pacific
HONOLULU, HI, May 06, 2006. 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 to Diamond Head Pacific Capital LLC for an undisclosed amount, said David Uchiyama, regional director of communications for Starwood Hotels and 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.
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/CEO of Diamond Head Pacific Group Inc., operator of a fleet of 14 sailing yachts. The company offers charters and sailing lessons.
Anderson, a local real estate investor, bought the W Honolulu in 2004 from Los Angeles-based investment firm Colony Capital, Inc. for an undisclosed price.
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