In addition to Matson's Royal Hawaiian and Moana hotels, the company opens the Surf Rider Hotel in 1951 and the Princess Kaiulani Hotel in 1955. Matson's postwar investment in new hotel construction and remodeling totaled approximately $10 million. Matson's four hotels give the company more than 1,000 of the 3,520 rooms available on Waikiki at the time. In 1959, Matson sells its Waikiki hotels to Sheraton for $18 million.
