Jessika’s works on the Hyatt Regency spanned three different ownerships of the property.

 

Prior to representing the property, Jessika represented Ugg Australia securing their first market entry, which replaced a failed Sergio Rossi store in the property. The Ugg flagship store became the #1 globally for the brand within its opening days and kept that status for years after. The 2k SF flagship out performed all but 1 luxury retailer on Kalakaua Avenue on a PSF basis, and singularly increased the average sales PSF for the Hyatt Regency making it competitive to the Royal Hawaiian Center for the first time. Subsequently, during Goldman Sach’s ownership of the property, Jessika was retained to represent the Hyatt Regency and secured a 12k SF Urban Outfitters flagship on the hard corner of Kalakaua Ave and Kaiulani Ave, further increasing the value of the asset and prompting a sale to Blackstone. During this transition, Jessika opened her own firm, started a family and Blackstone sought her out to continue her work on the property, this time crafting a vision for a dramatic repositioning. Alongside architect Michal Mindlin, Jessika created a vision within the ownership’s confines of keeping the hotel open during construction and not moving any structural elements. After completing a hotel room renovation at a cost of about $100M, Jessika’s market knowledge about other recent sales in the market led Blackstone to decide to exit the asset before executing on the retail repositioning resulting in an approximately $205M profit after a short three year ownership.

 

Contact:

Jessika Fodor