HONOLULU—ProspectHill Group, through its affiliate DiamondHead Land, has acquired the Queen Kapiolani Hotel, a 312-room hotel here.
Kokua Hospitality will operate the hotel and plans to invest substantial capital into a repositioning for the asset.
The hotel has views of Diamond Head State Monument and the Pacific Ocean. It is one block off Waikiki Beach and adjacent to Kapiolani Park.
DiamondHead Land is a joint venture between 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. Fitzgerald is a resort executive who served on the board of the Hawaii Tourism Authority from 2010 to 2014.
“Our investment into the Queen Kapiolani Hotel provides DiamondHead Land the opportunity to reclaim this independent hotel’s iconic status as a Waikiki landmark” stated Fitzgerald.