Destination Residences Hawaii announced at the start of October the acquisition of Lahaina-based Classic Resorts Ltd.
The purchase brings several new luxury condominium resorts and a slate of vacation homes on Maui and the Island of Hawaii into the Destination Residences portfolio.
The company already operates Makena Surf, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi Village, Wailea Ekolu Village, Wailea Elua Village, and Wailea Grand Champions on Maui, and The Lodge at Kukuiula in Poipu, Kauai.
Classic Resorts includes a combined 363 rental residences, ranging from studio to three-bedroom condominiums that feature fully equipped kitchens, living rooms and private lanais. The resort properties in the deal include West Maui's Kaanapali Alii, Lahaina Shores Beach Resort and Puunoa Beach Estates, and on the Island of Hawaii the Mauna Lani Resort.
"We are excited to effectively double the size of our portfolio with the addition of these prime luxury properties and we are proud to welcome the Classic Resorts team members to our ohana," Michael Cuthbertson, area managing director of Destination Residences Hawaii, said in a statement.