The Grand Wailea has named Jon Gersonde its new managing director, putting a very familiar Hawaiʻi hospitality face in charge of the 795-room resort. Gersonde brings 28 years of luxury hospitality experience, including more than a decade in Hawaiʻi, with leadership stops at Ritz-Carlton Maui, 1 Hotel Hanalei Bay, Turtle Bay Resort, Mauna Kea Resort and The Royal Hawaiian. Congrats to Jon on the new role, and best of luck in this next chapter!
He arrives at an interesting time for one of Hawaiʻi’s highest-profile resorts, owned by Blackstone and operated by Hilton under its Waldorf Astoria flag. Blackstone acquired the Grand Wailea for about $1.1 billion in 2018, has since completed a major renovation, and refinanced the property with a $1 billion loan last year. Blackstone has been shopping the resort since December 2024, when Bloomberg reported it had hired a broker. We understand the sale price is about $1.6 billlon or a whopping $2 million per key. (For those who don’t follow the PE world, five to seven years is a typical hold period. Blackstone is closing in on nine years at the Grand.)
