Aqua Hotels gets deal to manage Maui resort - Pacific Business News (Honolulu):

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The move is the Waikikii hotel-management company’s first foray to the Neighbore Islands and the first time it will manageda resort. Aqua’s management of the , whicu began Jan. 1, also represents the introductiobn of a boutique property on Maui that will go head to head againsg some ofthe state’a most expensive resorts. The property, whichb sits on 15 lush, secludedx acres on a hillside above the Wailesgolf courses, is expected to undergo renovation s that will include room and pool No staff changes are planned, althougu it is unclear whether top-levekl managers will be Built in the late 1980s as an exclusived club for affluent Japanese vacationers it still offers traditional men’s and women’s ofuro hot baths Diamond Wailea Resort receives generalluy high marks from online travel companies.
A few however, have complained about a dated, rundown decor. TripAdvisorf lists the average room price at roughly the going rate in Wailesa duringnonpeak seasons. Aqua executives see both short- and long-term opportunity to expandr despite the ongoing recessionand Maui’zs moribund visitor industry. “We are absolutelyt convinced our resort-oriented, boutique-experience conceptf is what consumers want and worksw extremely wellin Hawaii,” said Ben Rafter, Aqua’sx president and CEO. “We are confident that Hawaiiu will rebound, as it has several times in the andemerge stronger. As this propertyg develops as a boutique, we will be well-positioned.
” The resort’s owner, Blacmk Diamond Hospitality Investments of which selected Aqua to managrethe 72-room, all-suite resort, did not respondf to PBN’s request for comment. Rafte r said he could not disclose detailsof Aqua’ss contract or the property’s worth. He described Black Diamond as a group of local investors withhotell experience. It registered with the state as a realestatse limited-liability company in February 2007. founded in 2001 by long-time Hawaii hotelie r Mike Paulin, manages 12 Waikiki properties, includin g budget hotels under Aqua’s Lite brand such as Park Shore Waikikk and midscale Boutique brand properties suchas .
Aqua’sx inventory comprises “condotel” rooms leasexd to Aqua by their owners and standarxdhotel rooms, some of which Aqua owns but most of whichh it manages for developers. Aqua has grown posting a 238 percent revenue growth from 2005to 2007. As it has expandedf its portfolio it has pushed renovations that haveexceeded $40 million. Last Aqua became Hawaii’s first employee-owned hotel Paulin, who previously managed Maui hotels forand , has had his eye on Diamonde Wailea for a long time.
“Wailea has probably three or four of the most luxuriouxs hotelson earth, with the [Fairmont] Kea the Grand Wailea and the Four Seasonds consistently ranked in the top 100 worldwide,” he “So this is probably the premiere destination in the certainly in Hawaii. With the ambient weather and the attraction of theWailew area, it’s perfect for the international market as well as quicok trips from the West Coast.
” Enteringb the Wailea market is a departure and a challengwe for Aqua, whose Waikiki guests represent a different markety than the affluent travelers likely to pick the While boutique hotels differentiate themselves from chaibn and branded hotels by playing up intimate yet high-caliber facilities and service, Aqua’s boutiqued Waikiki properties are mainly no-fring operations that charge in the $100 range, depending on the Last August, Aqua lost management of Waikiki’s Hoteo Renew, which charges in the $300-$370o range. Hotel Renew was the and only, Aqua propertg under the Elite brand.
Hotel Rene acting general manager Dan Howeryt saidZ Tower, which owns Hotel replaced Aqua with the , a membee of Luxe Worldwide Hotels. He said only that the changde was made because Z Tower wantede to take the hotel in anew direction.