Ohio-based Rockbridge Capital has acquired the Aqua Waikiki Wave hotel.

The 247-room property sits one block from the beach and is adjacent to Waikiki’s International Market Place, which is undergoing a $350 million redevelopment, according to a Rockbridge statement.

“We look forward to exploring options to elevate the standard of Aqua Waikiki Wave to capitalize on the location,” Jim Merkel, the Rockbridge president and CEO, said in the statement.

The Pyramid Hotel Group will operate the hotel.
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