Iconic Turtle Bay Resort Sold For $725 Million To Hotel Conglomerate
More importantly, how much is it gonna cost to suck Mai Tai’s at the Surfer’s Bar now?
Nestled on the northeastern tip of Oahu, Turtle Bay Resort has long been the unofficial watering hole/lux kick-on pad/golf green/Fast Eddie hideaway spot for surfers doing the annual winter pilgrimage to surfing’s girt-by-volcanic-rock Mecca on the North Shore.
The right out front of the hotel gym promises a soft user-friendly respite from the heavy waves decorating the 7-mile slap capital, which horse-shoes into the bay, in full sight of the best surfers in the world sucking rum-based cocktails and glowing in their recent World Title/Triple Crown/Pipe Masters wins, while you bog, bog, and curse firmament. The shallow wave in the middle of the bay, however, can get kinda square.
Officially, it’s served as the site of the ASP banquet dinners, the Surfer Poll/WSL Awards (think: Noa Deane’s ‘Fuck the WSL’ moment), Vans Pipe Masters afterparties, JOB’s surf school and shoot location of “Forgetting Sarah Marshall” (where Kalani Robb made his Hollywood cameo).
Anywhose, it’s sold for a pretty $725 million USD by the Blackstone Real Estate sharks to Host Hotels, with reported plans to transform it into a Ritz-Carlton.
“This transaction is an excellent outcome for our investors and a testament to Blackstone’s ability, including through the pandemic, to transform iconic, luxury hospitality assets,” stated Blackstone Real Estate CEO Rob Harper in a recent release. “The team executed an ambitious business plan, investing significant capital to reposition the resort for long-term success while also adding high-quality jobs on the North Shore.”
At a minimum, some cosmetic surgery is expected with the new proprietors. Host Hotels, the property firm behind the purchase, offers a glimpse into the resort’s future:
“The Resort is situated in a unique location on 1,180-acres on the North Shore of Oahu with five miles of beach and coastline views. It features 450 rooms, all with ocean views, including 42 bungalows with direct beach access, a separate check-in, and a private pool. Other amenities include 18,000 square feet of indoor meeting space, a club lounge, six food and beverage outlets, seven retail spaces, a spa, fitness center, two golf courses, seven beaches, four resort pools, tennis and pickleball courts, an equestrian center, a working farm, and access to 12 miles of oceanfront trails. The 49-acre oceanfront land parcel is entitled for development, and similar to the Company’s strategy at other properties, Host intends to enhance its value over the long term.”
Anticipate even pricier Mai Tais. The Ritz-Carlton, after all, is synonymous with high-brow opulence.
