Have you ever wondered who owns the Turtle Bay Resort? The luxurious resort located on the North Shore of Oahu, Hawaii is a popular destination for vacationers and locals alike. In this article, we’ll take a closer look at the ownership of Turtle Bay Resort and its history.
History of Turtle Bay Resort
Turtle Bay Resort was originally built in 1972 by Takeshi Sekiguchi, a Japanese real estate developer. The resort was initially called “Kuilima Resort” and had only 100 rooms. In 1983, the resort was sold to Del Webb Corporation, an American construction company that expanded it to 443 rooms.
In 2000, Oaktree Capital Management acquired the resort and invested millions of dollars into renovating and expanding it further. They added new amenities such as a spa, golf courses, and restaurants. In 2010, Replay Resorts bought Turtle Bay Resort from Oaktree Capital Management for $60 million.
Who Owns Turtle Bay Resort Now?
Currently, Turtle Bay Resort is owned by an affiliate of Blackstone Group Inc., one of the world’s largest private equity firms. Blackstone acquired the resort in 2017 for $330 million from Replay Resorts.
Blackstone is known for its investments in real estate, including hotels and resorts such as Hilton Worldwide Holdings Inc. and La Quinta Holdings Inc. With their expertise in hospitality investment, Blackstone plans to continue expanding and improving upon the already impressive amenities at Turtle Bay Resort.
Turtle Bay Foundation
Aside from providing luxurious accommodations for guests, Turtle Bay Resort is also committed to supporting the local community through its foundation. The Turtle Bay Foundation was established in 2008 with a mission to “support Hawaii’s North Shore through preservation of its land and culture.”
The foundation has funded numerous projects including beach cleanups, cultural events, and education programs. They also established a scholarship fund for local students pursuing higher education.
Conclusion
In conclusion, Turtle Bay Resort has a rich history of ownership changes and investment. The resort is currently owned by Blackstone Group Inc., a private equity firm with a strong track record in hospitality investment. In addition to providing luxury accommodations for guests, Turtle Bay Resort is also committed to supporting the local community through its foundation.
Whether you’re planning to visit Turtle Bay Resort or simply curious about its ownership, we hope this article has provided you with valuable insights and information.