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Japanese company selling Honolulu hotel

Go To The Hotel's Web Site Where: 410 Atkinson Drive [map], Honolulu, HI, United States
July 21, 2004 at 7:33 AM | by | Comments (0)

Shaq isn't the only goliath being sold to a Floridian company.

The patriotically-named Japanese company Azabu U-S-A announced the sale of its 1169-roomed la Moana Hotel in Honolulu to a company in the sunshine state for an undisclosed amount.

Azabu bought the hotel in 1986 for a cool $71 million and pumped in an additional $31M for renovations.

"In all, Azabu paid about $565M in the 1980's to purchase six Hawaiian hotels and other island properties. Azabu lost control of most the hotels because of the subsequent economic downturn in Hawaii and Japan," the AP reported.

Join the club, Nippon.

But no worries -- Azabu will retain ownership of the King's Village Shopping Center in Waikiki (cheesball shirts and leis never hurt the bottom line).

The hotel's new owner, unnamed in the report, says he/she/IT will not terminate current Ala Moana employees.

Hotels mentioned in this story

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