1 Hotel Hanalei Bay opens after $300M overhaul
1 Hotel Hanalei Bay, which opened in February on Kauai, aims to set new standards of sustainability for the luxury hotel market — an expensive quest that contributed to an investment approaching $2.1 million per room, among the expenditure highs for purchasing and transforming a resort in Hawaii.
Starwood Capital Group reportedly acquired the 252-room St. Regis Princeville Resort for about $225 million in 2018 and said it intended to spend $100 million renovating and rebranding the property as 1 Hotel Hanalei Bay. Instead, it spent $300 million and declared the newly transformed resort as the 1 Hotels brand’s flagship.
