The New Ritz Carlton Resort in Hawaii, Oahu North Shore

North shore

Good news for visitors, concerning news for the State of Hawaii and the North Shore of Oahu. Marriott is opening a new 5-star Ritz Carlton Resort on Oahu’s famous North Shore. After vacation rentals became impossible, and no new hotel developments on the North Shore were allowed, this will be a money maker for the largest hotel company in the world with earnings not staying in the Aloha State.

White sandy empty beaches, the largest surf in the world – this is the North Shore of Oahu.

The only resort on the famous North Shore is the Turtle Bay Resort with condominiums on the same property known as Kuilima Estate. The spa resort was the scene in numerous movies and has one of the largest gulf courses, and its heliport, and is unique in many ways.

For decades the population on the North Shore stood up against new hotel developments. eTurboNews has been based on the North Shore since it started in 1999 and followed this conservative but also healthy attitude toward environmental protection.

Turtle Bay started as a Hilton Hotel and later became a Texas-based Benchmark property. In 2018 the resort was bought by Blackstone Real Estate for $332 million.

Blackstone now turned this investment around and sold it after some improvements during the COVID period from 2020-2021 to Maryland Host Hotels & Resorts for $680 Million in cash, plus another $50 Million for a 49-acre land parcel.

Washington DC-based hotel giant Marriott will buy the property from Host to turn it into a 5-star Ritz Carlton property.

Over the last decades, Marriott made several attempts to buy prime real estate for resort developments, such as at Waimea Bay and in Haleiwa. Locals always objected and kept the Northshore “Country” for decades.

The Northshore was also a goldmine for vacation rentals that are now made impossible due to new short-term rental legislation.

All of this is good news for Marriott and for earned money that once again will not much benefit the Hawaii community, but this largest hotel group in the world – Washington-based Marriott Hotels.

The 450-room resort, as stated by Host, is anticipated to be among their top assets, even without considering the significant benefits that are anticipated from The Ritz-Carlton branding.

Host President and CEO James Risoleo said the deal “will further expand and diversify our already strong presence in Hawaii.” 

In a statement, Risoleo mentioned that Oahu is a popular tourist spot with constantly high occupancy rates and a diverse international demand. Due to high barriers to entry, the supply growth has been slightly negative historically, and there is no expected supply increase in the near future. Risoleo believes that with the planned rebranding of the Ritz-Carlton, the Resort will experience significant growth and enhance the EBITDA growth profile of its portfolio.

The sale should be completed by the end of this year.

Including the sale of land to Areté, the land it bought next to the new Ritz Carlton, Blackstone expects to generate $768 million from sales at Turtle Bay. 

Turtle Bay resort is situated on 1,180 acres on Oahu’s North Shore. 

About the author

Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1977).
He founded eTurboNews in 1999 as the first online newsletter for the global travel tourism industry.

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