Host Hotels & Resorts, Inc. Taps Kokua Hospitality, LLC To Continue Managing The Successful Hyatt Place Waikiki Beach Hotel

CHICAGO, June 5, 2013 /PRNewswire/ -- Host Hotels & Resorts, Inc. has engaged Kokua Hospitality, LLC to continue its management of the highly successful Hyatt Place Waikiki Beach hotel after purchasing the property from Chartres Lodging Group, LLC.  Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company that is the largest lodging real estate investment trust (REIT) and one of the largest owners of luxury and upper-upscale hotels.

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The Hyatt Place Waikiki Beach has been and will continue to be managed by Kokua Hospitality, LLC, the management arm of Chartres Lodging Group. The original purchase of the hotel took place on December 21, 2010 by Chartres Lodging Group, LLC and Morgan Stanley Real Estate Fund VII Global. The hotel then made its debut as a member of the Hyatt family on December 8, 2011, after an extensive renovation and re-positioning. The hotel has been a success story ever since.

"We have nurtured the redevelopment of this asset into becoming the largest Hyatt Place in the system," said Rob Kline, CEO of Chartres Lodging and Chairman of Kokua Hospitality.  "We will now work closely with Host Hotels & Resorts to cement the hotel's market position as the leading select service hotel in the Waikiki market."

"We are thrilled to be managing the Hyatt Place Waikiki Beach for a world class owner like Host Hotels & Resorts," said Phil Tufano, Chief Operating Officer of Kokua Hospitality, LLC. "We are confident that our best-in-class team and Hyatt Place Waikiki experience will yield impressive results."

The 426 room Hyatt Place Waikiki Beach is located just steps from the Beach and near Diamond Head at 175 Paoakalani Avenue in Waikiki.  The hotel, just nine miles from Honolulu International Airport, offers all-inclusive packages for meetings and events, from unique food and beverage options to cutting-edge A/V equipment. Hyatt Place Waikiki Beach also offers an array of dining options for guests, complimentary freshly prepared breakfast foods, a Gallery Menu, and Bakery Cafe offering Starbucks.

Waikiki is located on the south shore of Honolulu, Hawaii and is world famous for its natural beauty and pristine beaches. Known in Hawaiian as "spouting waters," Waikiki is nearby a variety of Oahu attractions, including Pearl Harbor, Iolani Palace, Hanauma Bay and the arts district of Chinatown.  

About Chartres Lodging Group, LLC
The Chartres Lodging Group, LLC is an investment and advisory firm founded by Robert Kline and Maki Nakamura Bara to focus on the acquisition, asset management, renovation and development, and property management of lodging assets. Chartres Lodging's principals have been responsible for over $9 billion of lodging investments and have asset managed over 200 upscale and luxury hotels, resorts and conference centers. The firm is currently responsible for a $2.2 billion, 12,500-room portfolio of luxury and upscale hotels, conference centers and resorts in the United States and Japan. Chartres Lodging's principals and employees are direct investors in 90 percent of this portfolio. For more information on The Chartres Lodging Group, please visit chartreslodging.com.

About Kokua Hospitality, LLC
Kokua Hospitality, LLC is a hotel management firm founded by its parent, The Chartres Lodging Group, LLC, with the mandate to become the operator of choice for strategic institutional and select private lodging investors by producing superior results as turnaround specialists. Created by veteran lodging investment and management experts to appeal to an investor's sensibility, Kokua Hospitality blends best-in-class operating practices with an owner's DNA. Kokua Hospitality manages a growing portfolio of hotels and resorts nationwide. For more information on Kokua Hospitality, please visit www.kokuahospitality.com and follow us on Twitter @kokuahotels and kokuahospitality.wordpress.com.

About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 104 properties in the United States and 15 properties internationally totaling approximately 63,000 rooms. The Company also holds non-controlling interests in a joint venture in Europe that owns 19 hotels with approximately 6,100 rooms and a joint venture in Asia that owns one hotel with approximately 300 rooms in Australia and a minority interest in two hotels in India and five hotels that are in various stages of development in India. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Four Seasons®, Hilton®, Swissotel®, ibis®, Pullman®, and Novotel® in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com. 

Contact:
Stephanie Deisher
Maroon PR
443.864.4246
[email protected]

SOURCE Kokua Hospitality, LLC