RICHARD WALKER / RWALKER@STARBULLETIN.COM
A local investor is pursuing a purchase of units at the landmark Renaissance Ilikai Waikiki Hotel from Forward One LLC.
Investor seeks to buy portion of Ilikai
Brian Anderson is negotiating a bulk purchase of units
A Big Island investor is negotiating to buy a portion of the Renaissance Ilikai Waikiki Hotel, the turquoise-and-white landmark that was Hawaii's first high-rise luxury resort when it opened in the 1960s.
Brian Anderson is negotiating "a bulk purchase of units" at the Ilikai from Forward One LLC, which owns a large portion of the condominiums not owned by individuals, said Patrick O'Neill, a consultant for Anderson's firm, Ane Kona Islander LLC.
A sprawling property encompassing multiple towers, the Ilikai's guest rooms have largely been converted into condominiums, some which are owned by individual owners. The property is managed under Marriott International Inc.'s Renaissance brand.
O'Neill declined to say how many units Anderson was considering acquiring or any other specifics of the deal.
"That's still being discussed," he said. "All options are open."
The hotel's 446 employees are likely to remain on staff after the sale. In a letter to the state labor department, Alan Cambra, the Ilikai's general manager, said, "It is the understanding of ... (the seller) that no employees will be laid off or terminated as a result of this transaction."
Cambra said the deal is expected to close sometime between April 7 and June 30.
O'Neill declined to provide further details.
"Right now there's really not too much information available that we can share with you," he said.