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Rockbridge purchases Hawaii's Aqua Waikiki Wave Hotel

January 29
9:24 AM 2014

Rockbridge Partners, a unit of Rockbridge, revealed today that it has acquired Aqua Waikiki Wave Hotel located in Honolulu, Hawaii. The said purchase marks the Ohio firm's 330th hotel investment, according to Hawaii Reporter.

With 247 rooms, the Aqua Waikiki Wave is just one block away from Waikiki Beach. The building is also near the International Market Palace, the report noted.

Rockbridge president Jim Merkel said of the deal: "The acquisition of Aqua Waikiki Wave demonstrates the reach of Rockbridge. Our ability to identify and effectively execute hotel investments by leveraging our organization's strengths enables us to pursue opportunities in top-performing markets across the country. We look forward to exploring options to elevate the standard of Aqua Waikiki Wave to capitalize on the location."

Aqua Waikiki Wave's location is within a well-established tourism and retail market. The International Market Place is an open-air mall that is presently being redeveloped at a $350-million cost. The said mall is expected to attract millions of visitors every year once it transforms into Saks Fifth Avenue-anchored shopping center, wrote Hawaii Reporter.

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