HONOLULU -- The Waikiki Terrace Hotel will change ownership and
undergo an $11 million renovation before its conversion to upscale
condominium units in April.
The property will then be rebranded as Outrigger Luana
Plans include converting the 242-room hotel to 217 condominium
units comprised of 186 studio suites, 29 one-bedroom suites and two
Units will receive new furniture and fixtures, and public areas
will be enhanced.
Renovations have already begun on the property, located adjacent
to Fort DeRussy Park on Kalakaua Avenue.
Throughout the renovation period, the hotel will continue to
Outrigger Hotels & Resorts will begin managing the 17-story
building in December when the owner becomes Waikiki Terrace LLC, a
recently formed company that's headquartered here.
Terms of the sale were not disclosed.
To contact reporter Katherine Nichols, send e-mail to [email protected].