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Marriott to close deal
for Hawaiian Regent

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Star-Bulletin staff

Marriott International Inc. said today it plans to complete its purchase of the Hawaiian Regent Hotel on Thursday, and rename it the Waikiki Beach Marriott Resort.

Bethesda, Md.-based Marriott is buying the 1,304-room hotel at 2552 Kalakaua Ave. for roughly $130 million.

The seller, Hawaii-based Otaka LP, bought the leasehold resort for a reported $220 million in 1986.

The Liliuokalani Trust Estate will continue ownership of the 2.4 acres under the Regent's two high-rise towers. The hotel, opened in 1971, has two swimming pools, a fitness center and more than 15,000 square feet of meeting space.

Marriott plans to keep all 516 employees of the Regent, which is Waikiki's third largest resort.

With the purchase, Marriott will have seven properties in Hawaii, including the Ritz-Carlton Kapalua on Maui, a 548-room luxury hotel it bought last month, and the JW Marriott Ihilani Resort & Spa in West Oahu.