Colliers International has been retained as the exclusive marketing advisor for the Fee Simple sale of the Hilo Seaside Hotel, a 138 room limited-service hotel with a restaurant and swimming pool and amazing tropical garden and pond located in Hilo, Hawaii. Founded by the Kimi Family in 1956, Hilo Seaside Hotel embodies the spirit of Hawaii; a place where hospitality is at the forefront of an ancient culture. The Kimi’s believed that Hawaii truly was paradise on earth and instilled that in the Hotel. After decades of hard work, they eventually were able to build a 30-room hotel in Hilo, which then expanded into 138 room hotel.
This offering represents the rare opportunity to acquire a fee simple hotel which underwent a $750,000 renovation in 2019-2020. The Hilo Seaside Hotel also has the benefits of being unencumbered by a hotel management contract and is ideally located in the world-renowned destination of Hawaii. The hotel is situated on 2.23 acres (97,340 square feet) of fee simple land.
The recent improvements completed provide an investor with limited near-term capital expenditure exposure. This offering provides the investor with substantial in-place cash flows in a marketplace reflecting great resilience, growing consumer demand, and significant competitive barriers to entry.
