Hawaii-based real estate and investment firm MacNaughton has acquired the Hotel Renew in Waikiki an undisclosed amount.
The 72-room property is one block from Kuhio Beach on the easter end of Waikiki. The hotel was previously owned and operated by Springboard Hospitality and underwent a $1.5 million rebranding and renovation with a focus on wellness services that concluded in 2019.
According to the release, MacNaughton, which is also managing operations at the hotel, has retained the hotel’s staff.
MacNaughton took over the nearby Lotus Honolulu at Diamond Head hotel in 2019, and current Lotus Honolulu general manager Carly Clement will assume oversight of both properties.
“Our commitment to Waikiki and the local community goes hand in hand with our deep belief in the strength and resilience of Waikiki as a world-class tourist destination,” MacNaughton CEO Ian MacNaughton said in a statement. “Hotel Renew is well positioned to meet the growing demand for boutique hotel experiences in the heart of Waikiki, among visitors and also local residents.”
Honolulu-based MacNaughton also manages the Hilton Garden Inn Waikiki and is involved in the investment and development of several residential, hotel, and retail properties across Hawaii.
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