Alternative asset manager Blackstone is considering the sale of the Grand Wailea Resort, a luxury property in Maui, Hawaii, reported by Bloomberg citing sources familiar with the matter.
Sources indicate that Blackstone is collaborating with a broker to identify potential buyers, although the discussions are confidential, and no definitive decisions have been reached.
Blackstone may still choose to retain ownership of the resort, which operates under the Waldorf Astoria brand.
The Grand Wailea Resort, acquired by Blackstone in January 2018 for approximately $1.1bn from Singapore's GIC, spans 40 acres and offers a combination of rooms and suites. This includes 737 guest rooms, 57 suites, and 50 villas.
The property recently underwent renovations and can accommodate up to 3,200 guests during events.
The guest rooms and suites feature private lanais and range from 640ft² to 1,300ft², providing either tropical or ocean views.
Each room at the Grand Wailea Resort is non-smoking, pet-friendly and equipped with amenities such as signature robes, an HD flat-screen TV, a Nespresso coffee maker, and complimentary Wi-Fi.
The resort opened its doors in October 1991 and has been a destination for both leisure and filming.
The hotel's most recent renovations were completed last year, enhancing both its accommodation and public venues.
In a related move, Blackstone agreed to sell the Turtle Bay Resort in Hawaii earlier this year to Host Hotels & Resorts for $680m, indicating a continued interest in optimising its hospitality portfolio.
