HONOLULU, HAWAII (May 11, 2015) – ProspectHill Group, through its affiliate DiamondHead Land, has acquired the Queen Kapiolani Hotel, a 312-room hotel located in Honolulu, Hawaii. The Queen Kapiolani has sweeping views of Diamond Head State Monument and the Pacific Ocean, is one block off Waikiki Beach and adjacent to Kapiolani Park, and offers an iconic Waikiki history. DiamondHead Land has retained Kokua Hospitality to operate the hotel and plans to invest substantial capital into a repositioning program for the asset.
DiamondHead Land is a joint venture of ProspectHill Group and Patrick Fitzgerald. ProspectHill is a San Francisco-based real estate investment company with property interests in San Francisco, Los Angeles and London. Mr. Fitzgerald is a seasoned Hawaii resort executive who served on the board of the Hawaii Tourism Authority from 2010 to 2014. Both ProspectHill and Mr. Fitzgerald bring substantial experience in the repositioning and ownership of lodging, resort and other commercial assets.
“Our investment into the Queen Kapiolani Hotel provides DiamondHead Land the opportunity to reclaim this independent hotel’s iconic status as a Waikiki landmark” said Patrick Fitzgerald.
