Amstar Acquires 70-Room Hotel Hana-Maui in Hawaii
Hana, Hawaii (May 20, 2010) – Amstar today closed on the previously announced acquisition of the 70-room Hotel Hana-Maui resort located on the Island of Maui, Hawaii.
Amstar purchased the Hotel Hana-Maui from Ohana Hotel Company. An Amstar subsidiary, Green Tea, LLC, will manage the property. The purchase is the first in Hawaii for Amstar, which also owns hotels and resorts in Virginia, Colorado, Illinois, Rhode Island, Florida, Texas and California.
The iconic Hotel Hana-Maui was founded more than fifty years ago and its secluded, oceanfront location has made it a favorite Maui getaway for decades. The Preferred Boutique hotel boasts a luxury spa, numerous private cottages, two award-winning restaurants, and spacious rooms on an expansive campus with a full array of recreational activities. The hotel is located on 69-acres and is surrounded by a 4,500-acre ranch at the end of Maui’s famous Hana Highway, on the island’s eastern coast.
“Hana is truly a one-of-a-kind destination. We remain excited about marketing an experience that can only be offered by this unique east Maui community and its surrounding resources. Our goal is to realize the full potential of the resort while preserving the historic character of the hotel and the local culture,” said Amstar CEO Gabe Finke.
Established in 1987, Amstar is a real estate investment manager that offers both commingled funds and tailored separate accounts to its international and domestic clients. With more than $1.65 billion in assets under management, Amstar’s current portfolio consists primarily of office, hospitality, and multifamily holdings within the major markets of the United States and select markets in Europe and Latin America.
Amstar offers its clients stability, sound judgment and a long history of proven performance. Our team of highly capable employees understands that our commitment to our clients is the company's primary competitive advantage. For more information on Amstar, go to www.amstar.com, or contact Executive Director Rob Toomey at firstname.lastname@example.org.