Mirae Asset Financial Group, one of South Korea’s leading financial firms with a strong presence in real estate and alternative investments, is reportedly considering selling the Hyatt Regency Waikiki Beach Resort & Spa. The move is seen as part of the company’s portfolio optimization strategy, influenced by the ongoing recovery of Hawaii’s tourism industry.
According to industry sources, Mirae Asset has hired financial advisors to facilitate the potential sale, with an estimated transaction value of approximately $650 million. The resort, located on Waikiki Beach, features 1,230 guest rooms, multiple dining options, an outdoor pool, and a luxury spa, making it a prime asset in Hawaii’s hospitality market.
Mirae Asset originally acquired the property in 2016 from Blackstone for about $755.6 million. The acquisition was financed through a combination of the company’s internal funds and local loans. Blackstone had previously purchased the hotel from Goldman Sachs in 2013 for $450 million and invested an additional $100 million in renovations to enhance its value.
The decision to consider selling the property aligns with Mirae Asset’s broader strategy of reevaluating its global investment portfolio. The recovery of Hawaii’s tourism sector has also played a role, with the state welcoming approximately 9.7 million visitors in 2024. While this figure is slightly lower than 2019 levels, total visitor spending has risen to $21 billion, indicating strong demand despite inflationary pressures.
Hawaii’s real estate market has seen increased activity in recent years, particularly from Asian investors seeking premium hospitality assets in the United States. Industry analysts are closely watching the potential sale, as it could serve as a key indicator of future investment trends in the region.
With demand for luxury resorts and hotels continuing to rise, the sale of the Hyatt Regency Waikiki could further invigorate Hawaii’s real estate sector, signaling continued growth in the high-end hospitality market.
