The Ewa Hotel Waikiki, a 92-room property on the Diamond Head side of Waikiki, is now listed for sale with an asking price of $21 million. This represents a significant opportunity for investors looking to capitalize on the high-demand Waikiki market. The hotel's prime location and potential for renovation and rebranding make it an attractive prospect for those seeking to grow their presence in Hawaii's hospitality sector.
Hotel News Resource reports that the hotel is situated on 15,000 square feet of leasehold land and features an 8th-floor rooftop deck with panoramic views. These features offer significant value-add potential for a new owner. The listing comes amid a market where hotel acquisition opportunities are relatively scarce, making this offering particularly noteworthy.
Aloha State Daily highlights that the sale presents a "value-add opportunity" for investors, suggesting that renovating the property could significantly increase its average daily rate (ADR). This underscores the potential for a strong return on investment in a market known for its tourism appeal. The hotel's strategic location, combined with the possibility of improvements, positions it as a compelling option for investors.
The hotel's listing is a clear indication of the evolving dynamics within Hawaii's hospitality industry. With a focus on value-added investments and strategic improvements, investors can leverage this opportunity to enhance their portfolio and compete in the competitive Waikiki hotel landscape. The sale also reflects the ongoing interest in Waikiki as a premier tourist destination, ensuring sustained demand for well-positioned and updated properties.
While the sale of the Ewa Hotel Waikiki currently presents a unique business opportunity, potential investors also need to be aware of the competitive landscape. With many established hotels, like Courtyard by Marriott Waikiki Beach, providing competitive services to tourists may affect return on investments depending on improvements.
