CHM, in tandem with Kyo-ya Company, is responsible for asset and investment oversight of the Sheraton Princess Kaiulani, the largest resort in Oahu. The Sheraton Waikiki is one of eight properties owned in partnership since late 2004 with an international hotel ownership company, collectively referred to as Kyo-ya Hotels. [link to Kyo-ya hotel portfolio]. While this property occupies a prime site in the heart of Waikiki, its off-beach location and relatively small and dated guestrooms has historically limited operating potential. Given its large size, location and building condition, significant upside potential was identified through a combination of conversion and redevelopment of various resort components. We performed extensive market research and a conducted many valuation scenarios to determine the highest-and-best use of this asset. In addition to asset managing the resort, the team is actively involved in the reprogramming and repositioning of the hotel, as well as various residential product and retail developments underway.