Reported by Star-Bulletin staff & wire
Monday, November 29, 1999
Wailea hotel to get $25 million face-lift
The 516-room Outrigger Wailea Resort will undergo improvements costing $25 million next year, in line with Outrigger Hotels & Resorts' goal to operate deluxe full-service beachfront hotels on all the major islands and throughout the Pacific.The company's parent, Outrigger Enterprises Inc., bought the Maui resort earlier this year. The design for the improvements of the hotel and its 22 acres of land is by the Honolulu architectural firm Wimberly Allison Tong & Goo. The work will include changing the entrance area into a 32,000-square-foot garden court with a waterfall and a koi pond, developing a water-activity area with slides, and upgrading restaurants and lounges. The hotel will not close for the renovations.
Isle building pacts down in October
The value of contracts written last month for future construction in Hawaii fell 48 percent compared with October 1998, but dollars committed through the first 10 months of this year are up 8 percent, according to the monthly report by the F.W. Dodge division of the McGraw-Hill Cos.The survey showed $79.6 million committed last month, compared with $153.5 million in October 1998. Nonbuilding contracts, for such jobs as roadworks and bridges, were up 151 percent at $34.7 million last month, from $13.8 million a year earlier. But October residential construction contracts fell 37 percent to $32.6 million from $51.7 million and nonresidential contracts, mostly for office buildings, dropped 86 percent in value to $12.3 million, from $87.9 million in October 1998.
CMGI to acquire Raging Bull Inc.
PALO ALTO, Calif. -- CMGI Inc.'s AltaVista Co. unit said today it agreed to acquire Raging Bull Inc., an operator of financial message boards on the Internet, in a stock swap. Details of the pact were not released.Investors use Raging Bull's Web site to obtain and share financial and business information. AltaVista said privately held Raging Bull, based in Andover, Mass., averages 6 million page views per day. AltaVista operates an Internet portal and search engine. CMGI, also based in Andover, Mass., manages and invests in Internet companies.