Hyatt Regency hotel in Hawaii acquired by Blackstone Group

The leasehold on the Hyatt Regency Waikiki Beach Resort and Spa in Hawaii has been sold to the Blackstone Group for $450 million. Renovations are being planned for the 1,230-room hotel, with Blackstone expected to spend about $80 million on property improvements. Hyatt Hotels will remain as the property's manager.

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