Starwood Capital Group Acquires Princeville Resort

Hotel to Operate as Princeville Resort until Transformed into 1 Hotel Hanalei Bay

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Nov 16, 2018, 15:57 ET

NEW YORK, Nov. 16, 2018 /PRNewswire/ -- Starwood Capital Group announced today that it has acquired the 251-room St. Regis Princeville Resort located on the stunning island of Kauai, Hawaii. Starwood Capital Group's hotel management company, SH Hotels & Resorts, will operate the hotel effective immediately as Princeville Resort. Starwood intends to invest more than $100 million to transform the property into what will surely be the 1 Hotel brand's flagship resort, 1 Hotel Hanalei Bay. 1 Hotels is an award-winning, mission-driven, luxury lifestyle hotel brand that is inspired by the majesty found in nature. 1 Hotels can currently be found in Manhattan, Brooklyn, New York and South Beach, Florida. The brand will continue its rapid expansion with soon-to-open properties in West Hollywood, Cabo San Lucas, Sunnyvale and Sanya, China and there are more than a dozen others in the company's pipeline.

Princeville Resort sits in perhaps one of the world's most astonishingly beautiful settings. Known as "The Garden Island," Kauai is simply breathtaking as is the resort's location, overlooking the world-famous, pristine Hanalei Bay, with the spectacular Na Pali Coast and its cascading waterfalls over moss-covered cliffs. Kauai and 1 Hotels were meant to be together. 1 is about celebrating nature, and there is no more beautiful a spot to sit in the wonder of nature in all the world than the lush and exotic Princeville region. The resort will feature a world-class wellness center, oversized fitness area with both indoor and outdoor programming, and a diverse activity center to allow guests to discover their own individual balance between activity and relaxation.

"We are just thrilled to have this opportunity to acquire and create what will surely be one of the most incredible resort properties in the world, 1 Hotel Hanalei Bay," said Barry Sternlicht, Chairman of Starwood Capital Group. "There is no better location, nor more perfect microclimate, to create a wellness resort that will reinvigorate our guests and celebrate the intoxicating beauty of nature."

East West Partners, a long-time collaborator with Starwood Capital Group, will partner in planning and development. "We are very proud to have the opportunity to be a part of this incredible project and look forward to partnering once again with Starwood Capital Group," said Harry Frampton, Founder of East West Partners.

Princeville Resort today is a place of captivating beauty and breathtaking views. Residential style and luxurious living define the 251 guest rooms and suites. The hotel is ideally situated, with sweeping views of lush gardens, soaring mountains and the sparkling Hanalei Bay. The resort offers five dining locations as well as the Haleleʻa Spa, which features custom treatments that combine Hawaiian healing traditions, fresh botanicals and elements of the ocean. Princeville guests have preferential access to the renowned Princeville Makai Golf Club, named #3 Golf Course in Hawaii by Golfweek and "Top 5 Great Golf Settings" by National Geographic Travel Magazine.

About 1 Hotels:
As a luxury lifestyle hotel brand inspired by nature, 1 Hotels cultivates the best of sustainable design and architecture, together with extraordinary comfort and an unrivaled level of service. 1 Hotels, which launched in 2015 with the opening of exclusive properties in Miami's South Beach and Manhattan's Central Park, followed by Brooklyn, located on Pier 1, in February 2017, is inspired by a simple idea: those who travel the world also care about it. 1 Hotels upholds this vision by channeling nature through design and culinary partnerships, while connecting with the local community and taking sustainable steps to make a big difference. Additional information can be found at www.1hotels.com.

About SH Hotels & Resorts:
SH Hotels & Resorts, an affiliate of global private investment firm Starwood Capital Group, is a hotel brand management company that operates 1 Hotels, a nature-inspired lifestyle brand that launched in 2015 with properties in South Beach and Manhattan; and Baccarat Hotels & Resorts, a luxury brand that made its debut in March 2015 with the opening of its flagship property in New York, with projects under development in Doha and Bordeaux. Leveraging its marketing, design, operational and technological expertise, SH Hotels & Resorts is the force behind some of the most groundbreaking and dynamic hotel brands in the world.

About East West Partners:
East West Partners is devoted to building, selling, managing and supporting high-quality real estate and life experiences. Their focus is on innovation, sustainability and community. Since 1986, the firm has developed and sold over $7 billion of residential and commercial real estate across the country. East West Partners is one of only two companies to have received three Urban Land Institute Awards For Excellence for their projects – Beaver Creek Village, Beaver Creek Colorado, Union Station Neighborhood, Denver Colorado and Riverfront Park, Denver Colorado. For more information on East West Partners, visit www.ewpartners.com.

SOURCE SH Hotels & Resorts