Law360, Washington (August 1, 2014, 5:31 PM EDT) -- Japan-based Resorttrust Inc. has purchased the Kahala Hotel and Resort in Hawaii for $300 million in a deal it hopes will boost further international business expansion, the company said on Thursday.
Under the terms of the agreement, Resorttrust's U.S.-based subsidiary will take ownership of the 338-room hotel in Honolulu County from Kahala Hotel Investors LLC. The company expects that the hotel will bring in approximately $9.7 million per year based on its operating income, it said in a statement.
The Kahala resort, which has been operating for more than 50 years and was originally built by Conrad Hilton, is a high-end...
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