Hawaii Hotel Investment Market, News
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A New Mandarin Oriental Hotel is on the Horizon

Back in 2006, Honolulu lost the Mandarin Oriental hotel brand when The Kahala Hotel & Resort was changed into an independent property. On Tuesday, Mandarin Oriental and Salem Partners, a Los Angeles based investment firm, announced their return and debut respectively with a “36-story mixed-use tower across from the Hawaii Convention Center in Honolulu”. It is very exciting that we will soon see a building from Mandarin Oriental back in the Honolulu skyline. Their return to Honolulu signals growth and wealth potential in Hawaii; they couldn’t stay away for long. These two groups coming together to offer a mixed hotel and residential community is an indicator of the changing market. These companies are adapting to the fickle and ever-changing consumer wants and needs; it’s no longer enough to offer just a hotel or just a residential community. We want both.

Construction is scheduled to begin this year, says Salem Partners, and we at The Bratton Team think this property sounds pretty amazing. Duane Shimogawa at Pacific Business News describes the Mandarin Oriental property, “The project will also include a rooftop restaurant and bar, a sky lobby lounge, an all-day dining restaurant, wedding and meeting spaces, outdoor terraces, and gardens, as well as a ‘Spa at Mandarin Oriental’ that will have eight treatment rooms, a fitness center and an 80-foot outdoor swimming pool…The 400-foot-high mixed-use project is located near a planned Honolulu rail transit station, thus making it a transit-oriented development project. During construction, up to 900 jobs will be created by the project. Upon completion in 2020, up to 620 net permanent jobs will be generated by Manaolana Place. It is also expected to contribute $4.4 million annually in tax and fee revenue for the city.”

With the completion of the Honolulu Rail Line, this property will be unstoppable. It is very exciting that more companies like Mandarin Oriental and Salem Partners are investing so much time and money into Honolulu, especially based around the rail line. They will bring jobs, tax revenue, tourism, and much more to boost our economy and our beautiful city. We can’t wait to see this project through to the end. It is sure to enrich our city and change both the physical and economical landscape of it.

Read more about this new development in Duane’s full article here.

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