Cheap Tickets issues earnings warning

Honolulu-based Cheap Tickets Inc. today warned second quarter earnings will fall short of expectations

The discount travel retailer expects revenue in the second quarter, which ends June 30, will be between $27.5 million and $29 million, and net income for the quarter will be between $1.1 million and $1.3 million, or $.04 to $.05 per share, compared to estimates of between $0.21 and $0.22.

Although quarterly gross bookings increased in line with projections, revenue lagged due primarily to lower-than-expected non-published ticket sales, which typically contribute more to the bottom line than published fares, according to the company, which cited unusually competitive published-fare sales during the quarter. Technology-related problems were also a factor in the disappointing performance, it said.

Keauhou Beach Resort joins Outrigger Ohana

The 311-room Keauhou Beach Resort on the Kona Coast on Aug. 1 will become the first Big Island hotel to be managed under Outrigger Enterprises Inc.'s Ohana brand. The hotel will be renamed the Ohana Keauhou Beach Resort.

Ohana is the brand Outrigger Enterprises created early last year for its moderately priced hotels, keeping Outrigger for the luxury end.

Outrigger Enterprises was selected to manage Keauhou Beach Resort by its owner, California-based SVP Investments, which also owns the Ohana Maui Islander Hotel. The Keauhou Beach property reopened in March 1999 after a $17 million renovation.

With the addition, Hawaii operations of Outrigger Enterprises will include 17 hotels under the Ohana brand and 15 under the Outrigger name.

Taking Notice

NEW JOBS

>> Gary T. Higa and Ken Inthasone have been named to positions at the Hawaiian Waikiki Beach Hotel's Tropical Surf Grill & Bar. Higa will serve as restaurant manager, overseeing day-to-day operations at the restaurant. Inthasone was named assistant manager. He joins the Hawaiian Waikiki Beach Hotel from Westaff Corp. at the Hawaii Convention Center. Higa was previously employed at Tanaka of Tokyo Restaurants Ltd.

>> Ted Chappell has rejoined ProStaffing Inc. as technical support administrator. He will be responsible for sales and account administration. Chappell originally worked at ProStaffing in 1999 and 2000 before returning to the mainland.

PROMOTIONS

>> Central Pacific Bank has promoted Estelle Iwamura to vice president and manager of the quality and training division and Norman H. Osumi vice president and manager of the financial technologies division, systems and programming. Annette Okamoto-Sierra was promoted to assistant vice president and assistant manager of the marketing division and Lyle R. Tamagawa to assistant vice president and corporate relationship officer in the corporate banking division. Dean K. Tanaka was promoted to assistant vice president and corporate relationship officer.