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December 20.2024
2 Minutes Read

Could a New Owner Revitalize the Iconic Grand Wailea Resort in Hawaii?

Grand Wailea Resort building with tropical greenery and palm trees.

Blackstone's Potential Sale of a Hawaiian Treasure Sparks Industry Buzz

In a surprising move that has the hospitality world buzzing, Blackstone is contemplating the sale of its jewel in Hawaii, the prestigious Grand Wailea resort. This luxurious getaway, nestled in the scenic beauty of Maui, has been a crown in the Waldorf Astoria collection since Blackstone's $1.1 billion acquisition in 2018. The prospect of new ownership could herald exciting changes for this iconic destination.

A Trend in Luxury Hotel Transactions

The past year has witnessed a whirlwind of high-profile hotel deals in the luxury segment. Notably, real estate mogul Larry Ellison procured Florida's Eau Palm Beach Resort, underscoring a growing appetite for premium hospitality investments. This surge in buying and selling underscores a vibrant market environment where landmark properties like Grand Wailea become hot assets.

Why the Sale Might Happen and Its Implications

The bustling market environment suggests optimal conditions for sellers. Nadeem Meghji, Blackstone's global co-head, highlighted this rising trend, stating an uptick in real estate values and demand. A change in ownership for Grand Wailea could lead to renovations or new strategies to enhance guest experiences, potentially redefining its identity while retaining its beloved heritage.

Reflections from the Industry

As Blackstone weighs its options, industry experts are keen to see who the next steward of Grand Wailea might be. While only preliminary discussions are underway, any transition could prompt further investments in the resort's renowned event venues and hospitality standards. Such changes are eagerly anticipated by those who cherish the signature aloha spirit coupled with luxury.

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Update Experience Luxury Like Never Before Discover a new pinnacle of indulgence with the collaboration between Burgess and Ultima Collection, offering a unique journey that seamlessly combines life at sea and luxury on land. Imagine embarking on a private charter aboard the stunning 235-foot Kogo megayacht, followed by a glamorous stay at one of Europe’s most exclusive properties—this experience is designed for those who crave adventure and opulence. What Awaits: An Extraordinary Itinerary The journey begins with seven nights on the Kogo, a vessel renowned not just for its impressive size but for its luxurious amenities. After a full refit in 2025, Kogo features spacious cabins, a lavish salon, and a sun-kissed deck complete with a Jacuzzi and fully equipped spa. Guests can lounge in comfort or indulge in an array of aquatic toys, including wave runners and Seabobs, all while exploring the enchanting coastlines of the Mediterranean. A Dream Destination: Choose Your Paradise Once the sea adventure concludes, travelers will transition to a week of relaxation at one of Ultima Collection’s breathtaking estates. Whether it's the sun-soaked vistas of Ultima Corfu or the majestic Alps at Ultima Megève, each property reflects unparalleled service and stunning design. The villas and chalets, often likened to superyachts on land, boast private wellness facilities and expansive views, ensuring guests remain cocooned in luxury throughout their stay. Why This Experience Matters This travel experience symbolizes more than just a luxury getaway; it represents a shift in how we perceive vacationing. Tim Davis, CMO of Burgess, states, "Our partnership with Ultima Collection allows us to extend that level of luxury and personalization on land." This integration of sea and land travel not only caters to the wanderlust of affluent clients but also challenges traditional luxury travel norms by offering a seamless transition between extraordinary realms. The Future of Luxury Travel As more travelers seek personalized and immersive experiences, the collaboration between Burgess and Ultima Collection could set a standard for future luxury offerings. Combining the charm of a private yacht and the elegance of a high-end villa creates an all-encompassing travel adventure that appeals to sophisticated tastes. This synergy might inspire other luxury brands to explore similar alliances, enhancing the experience for travelers looking for exclusivity and uniqueness. Final Thoughts: Embrace the Extraordinary If you envision a getaway that transcends the ordinary into realms of breathtaking scenery, state-of-the-art design, and unparalleled service, the Burgess-Ultima Collection experience deserves your attention. Prepare for a vacation trip that might just redefine luxury as you know it—bridging the best of land and sea into one unforgettable escape.

How Pre-Owned Luxury Watches Are Revolutionizing Retail Dynamics

Update How Pre-Owned Luxury Watches Are Transforming Retail Luxury timepieces have long been seen as symbols of prestige and wealth. However, the consumption patterns around these coveted accessories are experiencing a radical shift, especially among younger consumers. At the forefront of this change is Watchfinder & Co. CEO Arjen van de Vall, who highlights a noteworthy evolution: the rising popularity of pre-owned luxury watches revolutionizing retail. Younger Generations Embrace Pre-Owned Luxury As reported by Watchfinder & Co., millennials and Gen Z are not just passive consumers—they are savvy researchers who value both heritage and quality. This digital native revolution is reshaping how they view luxury purchases. Van de Vall emphasizes that these younger age groups are much more inclined to explore second-hand markets, finding charm and value in pre-owned timepieces like Rolex and Patek Philippe. Recent studies reveal that a staggering 36% of consumers aged 18-24 either own or are considering a luxury watch. It speaks volumes when many individuals in that demographic are now viewing their purchases as long-term investments. The Financial Wisdom of Pre-Owned Watches Another key figure stands out in this narrative: affordability combined with sustainability. Van de Vall underscores the growing acceptance of pre-owned luxury watches, driven by practical financial choices and a conscious effort toward sustainable consumption. Among Gen Z buyers in the UK, nearly half view luxury watches as solid investment assets. Provenance Over Prestige The emphasis on provenance over traditional prestige marks a significant cultural shift. This generation appreciates the stories behind their purchases, seeking authenticity in their aspirations. With an average expected spending of $10,870, it’s clear that the allure of high-quality timepieces is stronger than ever. As we move forward, watchmakers and retailers need to reassess their strategies to align with this new approach to luxury consumption. Understanding the preferences of the modern consumer will be essential for navigating the evolving landscape of luxury goods.

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