HONOLULU
A joint venture between two Los Angeles-based companies, including one that used to own Turtle Bay Resort on Oahu, has bought the Big Island luxury resort Fairmont Orchid.
Fairmont Hotels & Resorts will continue to manage the 538-room hotel, which features 30,000 square feet of meeting space. The new owners said they plan to make additional upgrades to all guest rooms and common areas and expand the hotel's spa facilities.
"The ownership has a long history of working in Hawaii and has great respect for the traditions and culture of the islands," said Michael Rosenfeld, CEO of Woodbridge Capital. "With its special character, remarkable location and access to precious natural resources, the Fairmont Orchid is a rare property that would be almost impossible to duplicate today."
