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Former Renaissance Ilikai Waikiki Hotel; Planning $40 million Redevelopment |
HONOLULU - July 19, 2006--The former Renaissance Ilikai Waikiki Hotel, recently purchased by Anekona Development Group, will now be known simply as The Ilikai -- Where Waikiki Begins. Anekona Development Group purchased the historic landmark hotel from Forward One LLC for an undisclosed price. Included in the purchase are 703 rooms, 115,000 square feet of commercial space, a 200,000 square foot parking garage, and extensive open areas overlooking the Ala Wai marina and the Pacific. Over $40 million will be invested in property upgrades, including a complete redevelopment of the Yacht Harbor Tower with a third-party partner. The property will be re-branded as a hip, upscale destination. Anekona, which also owns the W Honolulu hotel, identified this positioning as a desired niche. "We want a resort that caters to the discerning tastes of travelers today," stated Brian Anderson, principal. "Through the success of the W Honolulu, we have recognized there is room in the marketplace for a hotel that serves a young, successful demographic. We hope to make Hawaii proud of our transformation." The company's intention is to return the hotel to its historic roots
as Hawaii's first high-rise luxury hotel, offering condominium ownership.
Anekona is a Hawaii-based development company that practices principles of fairness, respect and the Hawaiian way. Led by Brian Anderson and his two sons, Brad and Cord, the company is owned by a family that traces its history through many generations in Hawaii. Since 2001 the family business purchased and renovated the Royal Sea Cliff on the Big Island; Islander on the Beach, Kauai Beach Resort, and Aloha Beach Resort on Kauai; and Luana Waikiki, W Honolulu, and The Regency on Beachwalk in Waikiki. In addition, they developed Wailuku Country Estates on Maui and are building luxury homes in Kukio on the Big Island. |
Contact:
Anekona Development Group
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