If you’re planning a trip to Kauai, Hawaii, chances are you’ve heard of the Princeville Resort. This luxurious resort is located on the island’s north shore and boasts stunning views of Hanalei Bay. But who exactly owns this resort?
History of Princeville Resort
The Princeville Resort was originally built in 1985 by the Hong Kong-based billionaire Cheng Yu-tung. The resort was managed by Starwood Hotels & Resorts Worldwide until 2018 when it was sold to a joint venture between two hospitality companies: Adventurous Journeys (AJ) Capital Partners and Ohana Real Estate Investors.
Adventurous Journeys (AJ) Capital Partners
AJ Capital Partners is a Chicago-based real estate investment firm that specializes in acquiring and repositioning hospitality properties. The company was founded in 2008 by Ben Weprin, and since then, it has acquired over $4 billion worth of properties across the United States.
The company’s portfolio includes a number of boutique hotels, including the Graduate Hotels chain and the Thompson Hotels chain. These hotels are known for their unique designs that reflect the local culture and history of their respective locations.
Ohana Real Estate Investors
Ohana Real Estate Investors is a real estate investment firm based in Redwood City, California. The company was founded in 2009 by executives from Morgan Stanley’s real estate division.
Ohana’s portfolio includes a number of luxury hotels and resorts across the United States, including the Montage Laguna Beach in California and the Montage Kapalua Bay in Maui.
The Future of Princeville Resort
Since acquiring the Princeville Resort, AJ Capital Partners and Ohana Real Estate Investors have invested over $100 million into renovating and repositioning the property. The resort underwent a major renovation that included updating all guest rooms, adding new restaurants and bars, and enhancing the resort’s wellness offerings.
In addition to the renovations, the owners have also announced plans to build a new luxury hotel on the property that will be part of the Auberge Resorts Collection. The new hotel will be called Mauna Lani Auberge Resorts Collection and is set to open in late 2022.
Conclusion
In summary, the Princeville Resort Kauai is currently owned by a joint venture between Adventurous Journeys (AJ) Capital Partners and Ohana Real Estate Investors. These two companies have invested heavily in renovating and improving the property, with plans to add a new luxury hotel to the resort in the near future. If you’re looking for a luxurious getaway on Kauai’s north shore, the Princeville Resort is definitely worth considering.