LIHUE — A portion of the Princeville Resort on Kauai’s North Shore has reportedly been sold for $343 million.
On Wednesday, Pacific Business News reported the buyer as billionaire Thai-Chinese businessman Chanchai Ruayrungruang’s Reignwood International, and that the 1,103-acre purchase includes the Prince Golf Course.
The resort’s developer, The Resort Group, which confirmed the sale to PBN, could not be reached for comment Thursday.
“The sale between The Resort Group (TRG) and Reignwood International of 1,103 acres at Princeville does not include the St. Regis Princeville Resort,” Stephanie Reid, director of public relations for St. Regis, wrote in an email. “The hotel property continues to be managed by St. Regis by Starwood Hotels & Resorts Worldwide, Inc. Our staff and guest experience is completely unaffected.”
PBN reported that the sale would not affect employees and that operations would continue as usual.
“Hawaii’s culture has deep roots in Asian heritage as many of my good friends cherish the Islands and have made them their preferred vacation destination or home,” Ruayrungruang told the publication. “We’re excited to be part of the Kauai and Hawaii communities. The island’s natural beauty is spectacular, and its open countryside translates well to our sustainability goals for our communities.”