Outrigger Hospitality Group has revived its plans to acquire the Sheraton Kona Resort & Spa at Keauhou Bay in Hawaii.
It is acquiring the property for an undisclosed sum.
Once the transaction is completed next month, it will start rebranding the property as Outrigger Kona Resort and Spa.
Spanning 22 acres, it currently has 509 guest rooms, a pool and waterslide, a spa, wedding chapel, fitness center, kids club and two restaurants.
"We are grateful for the opportunity to return to Hawai’i Island with a full-service Outrigger resort and share the legacy of this remarkable place in a responsible and sustainable manner," said Jeff Wagoner, president and CEO of Outrigger Hospitality Group.
Original plans to buy the property stalled in 2020 due to the pandemic.
"The Covid-19 pandemic put this purchase on a brief pause, so we’re glad to be back on track and look forward to welcoming guests to our new home."
The conversion will be carried out in stages so the property will remain open.
