Kamehameha Schools has announced that they will be closing and demolishing the Keauhou Beach Hotel on the Big Island of Hawaii. The School’s Chief Executive Officer, Dee Jay Mailer, stated, “Despite the good work of many committed and talented people, financial losses at the hotel over the last six years have been substantial. To return the Keauhou Beach to possibly compete in the Kailua-Kona hotel market would take tens of millions in further investment that would be very difficult to recover.” The Kona-Kohala neighborhood where the hotel is located has been struggling over the past several years. Hotel occupancy in the area was just 62.6 percent during the first seven months of this year, as compared to the 85.2 percent seen in Waikiki.
Source: Honolulu Star Advertiser, 8-23-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
