WHITE PLAINS, NY— Starwood Hotels & Resorts Worldwide closed on the purchase of the 413-room Sheraton Kauai Resort, Poipu Beach, Kauai, Hawaii on March 3, 2004. Starwood paid $40 million to purchase the asset, which it managed under its Sheraton brand for Obayashi Corporation, the former owner of the property. The Sheraton Kauai is located alongside Poipu Beach and features 413 rooms, including 13 suites. The resort has five restaurants and lounges; a fitness and massage center; two outdoor pools and Jacuzzi; tennis courts and two championship golf courses within two miles and is situated on 18.8 acres of fee and leased land.
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