KAMEHAMEHA'S Kona Beach Hotel was purchased by Investwest
Financial/Pacifica Hotel Co. and a group of Hawaiian investors. The
new owners have committed $25 million to a renovation that will
emphasize the hotels historical setting as one-time home to the
warrior king, Kamehameha. The hotel will remain open during the
renovation, which will begin next spring. The purchase is the first
in Hawaii for InvestWest Financial/Pacifica, which owns and
operates hotels in California and Florida.
STANLEY REAL ESTATE and Trinity Investments have completed
a $575 million purchase of Maui's 1,800-acre Makena Resort. The
purchase includes 1,300 undeveloped acres, two golf courses and the
310-room Maui Prince Hotel.
HOTELS & RESORTS is negotiating to purchase or partner
in the controversial expansion of the Turtle Bay Resort on Oahu's
North Shore. Newspaper reports, unconfirmed by Starwood, identify
the company as a potential joint-venture partner with the current
owner, Oaktree Capital Management. The master plan for the resort,
approved in the early 1980s, includes five hotels with a total of
2,500 rooms, although it is likely that timeshare projects may
replace the currently planned hotels.
AIRLINES, Aloha Airlines and Mesa Air Group all reported
first-quarter losses due to high fuel costs and an on-going fare
war initiated in June 2006, when Mesa Air launched Go, a low-cost,
interisland carrier. Aloha lost $24.3 million, Hawaiian lost $11.9
million and Mesa lost $24 million.
PLANTATION VILLAGE, located in central Oahu, is now
offering tours that emphasize Hawaii's historical and cultural
diversity. Tours depart Waikiki and include Honolulu's historic
landmarks, Hawaii's Plantation Village (an outdoor history museum
showcasing restored buildings and replicas of plantation
structures), a 45-minute narrated ride on a vintage locomotive and
a finale at the Paradise Cove Luau. Tours ($109 for adults, $90
children 12 and under) are offered every Wednesday, with pickups at
various Waikiki locations starting at 12:45 p.m., returning to
Waikiki is at about 10 p.m. Call (808) 677-0110.
Editor: Allan Seiden
Phone: (808) 734-4677
opportunities in the Hawaii E-letter, contact Debbie Joseph at [email protected].