Outrigger Hospitality Group announced Tuesday that it is acquiring the Ka‘anapali Beach Hotel — its sixth beach resort purchase over the past two years.

The purchase price for the 432-room resort, which sits on 11 acres, is undisclosed. The deal is expected to close July 26 and the property will be as rebranded the Outrigger Ka‘anapali Beach Resort. It will be the company’s first full-service resort on Maui in recent times.

The deal also includes the purchase of The Plantation Inn, an 18-room bed and breakfast that is near Lahaina’s historic Front Street.

Jeff Wagoner, president and CEO of Outrigger Hospitality Group, said the company announced the purchase to employees Tuesday. He said Outrigger is evaluating employment needs at the Ka‘anapali resort and is working on the transition with the International Longshore and Warehouse Union. Wagoner said that the union represents Ka‘anapali Beach Hotel employees, but not those at The Plantation Inn.

“We look forward to embracing (the employees) as part of the Outrigger ohana,” he said.

Wagoner added that the Ka‘anapali property recently underwent a $75 million renovation, and said Outrigger will develop a multimillion-­dollar modernization and renovation plan to continue the improvements. A focus will be on two guest room towers, as well as the courtyard and lobby that were not renovated in the last cycle.

“Like any property of this significance and with the cultural history of this property, it’s important that we get in and understand the property more before we decide exactly what that looks like,” he said. “We don’t anticipate anything closing because of the renovation.”

Wagoner said Outrigger will continue to operate The Plantation Inn “as it is today.”

He said in a statement, “From Maui to Maldives, Outrigger is bullish about our mission to be the ‘premier beach resort company in the world,’ simultaneously elevating our current assets and strategically adding complementary resort products to our global portfolio.”

Wagoner added that Outrigger’s investment in a full-service Maui resort “underscores our confidence in this iconic destination and our commitment to its community.”

“The Ka‘anapali Beach Hotel has been on our radar for a long time. One of our strategies has been to make sure that we had full-service Outrigger resorts on all of the islands here in Hawaii,” he said. “We’ve always been extremely interested in being on Maui. Ka‘anapali Beach being the No. 1-rated beach in all of Hawaii and the No. 10-rated beach in the entire world clearly was something that was coveted to us.”

Wagoner said the Maui acquisition brings the count of properties that Outrigger currently owns and or operates across the globe to 33. He said the company owns and or operates 26 resorts, hotels and vacation condos throughout the isles — including seven condominium resorts on Maui.

“As a Hawaii-based hospitality company, we have a special focus in our home state,” he said. “The neighbor islands are a very important market segment for Outrigger and we are pleased to be moving forward with the acquisition of Ka‘anapali Beach Hotel.”

Wagoner added that, “the leisure hospitality business is robust and Hawaii remains a safe and desirable destination to visit. (The American Hotel and Lodging Association) just shared data indicating that more Americans are planning to vacation at a hotel this summer than last.”

The Outrigger chain, which was founded in Hawaii by Roy and Estelle Kelley in 1947, improved its access to capital in 2016 when it was acquired by KSL Capital Partners, a Denver­-based private equity firm specializing in travel and leisure.

Wagoner said over the past two years, Outrigger also has added five other full-service beach resorts to its portfolio, including Outrigger Kona Resort &Spa on Hawaii island, as well as three properties in southern Thailand and a five-star resort in the Maldives.

Wagoner said the chain will continue to seek out opportunities to add world-class resorts in Hawaii and elsewhere to its asset portfolio.

“Regardless of external market factors, Outrigger is always seeking strategic opportunities to expand its footprint in iconic beach destinations that provide guests with authentic local experiences and unparalleled hospitality,” he said.

Wagoner said Outrigger also continued reinvesting during the pandemic, which in some cases accelerated planning and construction timelines.

He said renovations to all three Thailand properties were completed earlier this year.

Outrigger Reef is wrapping up an $85 million total hotel transformation with the build out of the Monkey Pod, an anchor restaurant that is likely to open midsummer, Wagoner said.

He said a substantial $65 million renovation to the entire Outrigger Kona Resort &Spa is underway and is expected to be completed by year’s end.

Wagoner said Outrigger is in the planning stages for a renovation at the Ohana Waikiki East by Outrigger, where a room model has been completed.

“We anticipate starting a $55 million renovation at the end of this year,” he said.

Wagoner added that a multimillion-dollar renovation of guest rooms and public spaces is underway at the Outrigger Fiji Beach Resort, which is slated for completion by the end of the year.