Dell founder's ultra luxury Hawaii resort on the rebound as travel recovers
Skift Take
The resort was voted the best hotel in the world in 2013, according to TripAdvisor users, so it must be doing something right. Riding the wave of rising Hawaii travel doesn't hurt either.
The loan on the Four Seasons Resort Hualalai, a Hawaiian vacation area co-owned by Michael Dell’s MSD Capital LP, is close to a restructuring as the property benefits from higher room rates and rising luxury-home demand, said Patrick Fitzgerald, chief executive officer of the resort.
“I anticipate we will reach a conclusion on a very detailed term sheet within the next 30 days,” Fitzgerald said in a telephone interview. “From today’s point of view, the ownership and equity structure will pretty much look the same.”
The $176 million loan backed by the resort’s hotel and a leasehold interest in land was sent to a firm specializing in troubled debt in June, when it matured, Morningstar Inc.’s Structured Credit Ratings unit said in a report. The property, which had been hurt by falling travel after the credit crisis and damage from the 2011 Japanese tsuna
