Ritz-Carlton Kapalua, Maui, Hawaii

Ares Management, SMW Hospitality, Trinity Investments Buy Ritz-Carlton Kapalua in Maui

by Jeff Shaw

LAHAINA, HAWAII — A joint venture between funds managed by Ares Management LP (NYSE: ARES), SMW Hospitality LLC and Trinity Investments LLC has acquired The Ritz-Carlton Kapalua in Lahaina on the Hawaiian island of Maui.

The JV acquired the property from a partnership between Woodridge Capital Partners LLC and Colony Capital Inc. The price was not disclosed.

The Ritz-Carlton Kapalua is an oceanfront property located on 49 acres of Maui’s northwest shore. The hotel is part of the 23,000-acre master planned Kapalua resort, home to the Kapalua Wine and Food Festival and the PGA Tour’s Tournament of Champions. The resort is renowned for its golf courses, tennis facilities, beaches, restaurants and shops.

The Ritz-Carlton Kapalua features 297 guestrooms, as well as 107 condos within a dedicated wing of the hotel. Known as The Residences, the one- and two-bedroom condos were recently renovated. The joint venture plans to renovate the hotel’s common areas and guest rooms following the acquisition.

The hotel’s amenities include a 17,500-square-foot spa with 15 treatment rooms, three-tiered swimming pool, fitness center, 4,844-square-foot retail arcade, access to two championship golf courses (The Bay Course and The Plantation Course) and instruction at Kapalua Golf Academy. In addition, guests can access Kapalua Resort, including tennis courts, two marine sanctuaries, beaches, shopping and dining. The property also features 32,000 square feet of meeting space and seven restaurants.

Ares Management is a publicly traded asset manager with approximately $97 billion in its portfolio as of Sept. 30. The company has 15 offices in the United States, Europe and Asia. The company’s stock price closed at $17.50 per share on Friday, Nov. 18, up from $14 per share one year ago.

SMW Hospitality is a joint venture between affiliates of Square Mile Capital Management LLC, a finance and investment firm, and Wafra Investment Advisory Group.

Trinity Investments is a private real estate investment firm headquartered in Honolulu.

— Jeff Shaw

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