Honolulu, HI – February 10, 2021 – Following its acquisition in January 2021 of the office building located at 1111 Bishop Street, also known as the “Remington College Building”, Continental Assets Management today announced it has signed an agreement with Marriott International to debut the company’s design-driven AC Hotels brand in Honolulu. The property is slated to debut in the heart of downtown Honolulu in the Central Business District and is expected to feature 104 rooms. Currently an existing office building, the conversion to the AC Hotel Honolulu is expected to begin late next year, with the anticipated opening in 2024.
“We chose to bring Marriott International’s AC Hotels brand to Honolulu because it’s the perfect blend of form and function for the metro Honolulu area,” said Andy Chang, CEO of Continental Assets Management,LLC. “We are confident that Hawaii tourism demand will return while business travel demand will likely be more fluid due to imposed corporate travel restrictions.”
“The adaptive reuse of this office building to a high quality, Marriott branded hotel will allow us to have a long term investment in downtown Honolulu at an attrative basis. Downtown Honolulu is a high barrier to entry market with a diverse base of demand generators, so we are excited to be part of its long term growth as the hospititality industry continues to recover in the coming years,” said Matt Kou, Senior Vice President of Investments for Continental Assets Management.
The hotel is expected to feature 104 modern and thoughtfully designed guest rooms, the brand’s AC Kitchen featuring a European-inspired breakfast, and a 24-hour wellness center. The design also includes collaborative, open spaces such as the AC Lobby and AC Library, featuring sleek furnishings, curated artwork, and ambient lighting. Continental Assets Management also plans to create an AC Lounge, a communal area of creativity that features a full bar serving thoughtfully selected wine and beers and hand-crafted cocktails, including the brand’s signature Gintonic, along with tapas plates. The existing food retail outlets will remain but the area will be upgraded to a “food hall” concept to showcase an electic mix of local and international flavors.
Continental Assets Management is a premier private real estate investment company founded in Los Angeles, California. Continental has an opportunistic, long-term approach to investing in all real estate asset classes. In its 30 years, Continental has been able to grow and diversify its portfolio to include hospitality, multifamily, commercial retail, and developable land in California, Hawaii, Texas and parts of the Midwest.