Hyatt Waikiki may be sold to Korean investors

Published: Jun. 3, 2016 at 3:06 PM HST|Updated: Jun. 3, 2016 at 4:37 PM HST
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HONOLULU (HawaiiNewsNow) - By Chantelle Aguilar 

The Hyatt Regency Waikiki Beach Resort and Spa may be sold to Mirae Asset, a Korean investment company.

According to the hotel workers' union, executives from the company were in town to discuss the sale, but a decision has not yet been made.

The South Korean company is one of Asia's largest financial services firm.

Hyatt told union members that if a purchase is made, their contracts will remain in place.

This is not the first Hawaii purchase for Mirae Asset.

According to Pacific Business News, the Fairmont Orchid hotel on the Big Island was sold to Mirae Asset for $200 million last May.

Another Hawaii hotel was bought last year by a Korean company. L.A. Koreana Inc., a California-based affiliate of a South Korean company, bought the Polynesian Plaza boutique hotel in Waikiki for about $10.6 million.

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