Blackstone Group has agreed the sale of the leasehold on the Hyatt Regency Waikiki Beach Resort and Spa to South Korea’s Mirae Asset Global Investments for $780m, according to a person with knowledge of the matter.
At that price, Blackstone would make a profit of around $200m. It bought the property in 2013, paying around $450m, and spent $100m on upgrading it.
The hotel is located on the Hawaiian island of Oahu.
