Host Hotels & Resorts to acquire Turtle Bay Resort from Blackstone for $680m.

Host Hotels & Resorts, an American real estate investment trust that invests in hotels, agreed to acquire Turtle Bay Resort from Blackstone, an American multinational private equity, alternative asset management, and financial services firm for $680m. “We are thrilled to enter an agreement to acquire Turtle Bay Resort, which will further expand and diversify our already strong presence in Hawaii. In addition, because of the Resort’s recent transformational renovation, we do not expect meaningful capital expenditures in the near term. We look forward to working with employees and local partners to build upon the resort’s preeminent position on the North Shore of Oahu,” James F Risoleo, Host Hotels & Resorts President and CEO.