CHM, in tandem with Kyo-ya Company, is responsible for asset and investment oversight of the Sheraton Maui, one of eight properties owned in partnership since late 2004 with an international hotel ownership company, collectively referred to as Kyo-ya Hotels. The Sheraton Maui occupies the finest site on Ka’anapali Beach and has historically posted strong performance. While additional operating potential has been identified, the greatest opportunity for value enhancement lies in the nearly one million square feet of FAR that is potentially developable on the site. As such, CHM and Kyo-ya have developed and implemented strategies focused on maximizing rate and NOI performance through enhanced market positioning, while also researching and evaluating alternative development scenarios to maximize appreciation.