ProspectHill Group Acquires 312-Room Queen Kapiolani Hotel in Honolulu, Hawaii
HONOLULU, HI. - May 12, 2015. ProspectHill Group, through its affiliate DiamondHead Land, has acquired the Queen Kapiolani Hotel, a 312-room hotel located in Honolulu, Hawaii. The Queen Kapiolani has sweeping views of Diamond Head State Monument and the Pacific Ocean, is one block off Waikiki Beach and adjacent to Kapiolani Park, and offers an iconic Waikiki history. DiamondHead Land has retained Kokua Hospitality to operate the hotel and plans to invest substantial capital into a repositioning program for the asset.
DiamondHead Land is a joint venture of ProspectHill Group and Patrick Fitzgerald. ProspectHill is a San Francisco-based real estate investment company with property interests in San Francisco, Los Angeles and London. Mr. Fitzgerald is a seasoned Hawaii resort executive who served on the board of the Hawaii Tourism Authority from 2010 to 2014. Both ProspectHill and Mr. Fitzgerald bring substantial experience in the repositioning and ownership of lodging, resort and other commercial assets.
"Our investment into the Queen Kapiolani Hotel provides DiamondHead Land the opportunity to reclaim this independent hotel's iconic status as a Waikiki landmark" said Patrick Fitzgerald.
Media Contact:
Theresa Lozier
Account Director
Becker Communications
theresa@beckercommunications.com
808-533-4165
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
