Resort Quest Lands in Waikiki
In less than three weeks, Gaylord Entertainment Co. purchased and then sold off part of the Aston Waikiki Beach Hotel in Honolulu. The hotel will become part of Gaylord's ResortQuest rental property portfolio. The complex includes a 23-story Main Tower with 644 guest-rooms and the adjacent Mauka Tower with 72 rooms.
In mid-April, Gaylord paid $107 million for the resort. On May 2, it announced a deal to sell an 80.1-percent ownership stake to a private real estate fund managed by DB Real Estate Opportunities Group with ResortQuest retaining a long-term management contract.
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