Sheraton Hotels and Resorts
In 1952, Matson built a new hotel adjacent to the Moana on the southeast side, called the SurfRider Hotel. In 1953, Matson demolished the Moana's bungalows across the street and, two years later, opened the new Princess Kaiulani Hotel on the site. Matson sold all of their Waikiki hotel properties to the Sheraton Hotels and Resorts in 1959.