Waikiki Parc Hotel has announced that they will be closing their doors for approximately 16-months in the fall of 2016 so that they can undergo a complete renovation of their property. According to their plan, Waikiki Parc Hotel would reduce the hotel's room count from its current 297 studios to approximately 200 one-bedroom and two-bedroom units. The hotel would also add a new eighth-floor pool, create an improved outdoor gathering area with a stage, and build a rooftop terrace with a trellis and a lounge. Rick Egged, the president of the Waikiki Improvement Association, stated, "The revitalization of Waikiki has increased the number of higher-end rooms available. It's part of Hawaii's strategic tourism plan. We have fewer rooms today than at our peak, so we need to attract higher-yielding tourists so that we can get the most out of every room that we can."
President and CEO of Hospitality Advisors LLC, Joseph Toy, commented, "Everybody has raised their game in Waikiki over the past six or seven years. There's a lot of upside value to properties that have not yet undergone renovations during this latest cycle."
Source: Honolulu Star Advertiser, 3-18-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
