Business Briefs

Reported by Star-Bulletin staff & wire



Hawaii restaurants expect jump in sales

Hawaii restaurants project a 3.5-percent boost in business next year, but nearly every other state is expected to do even better.

Only Iowa and the District of Columbia will see less growth in an industry that claims more employees than any other private business sector, according to the National Restaurant Association.

Nationally, restaurant sales are expected to rise 4.4 percent next year, led by Nevada with 6.8 percent growth, Arizona with 6.5 percent and Utah with 6.2 percent, according to the Restaurant Association.

For Hawaii's restaurant industry, the projected improvement comes after a year of more limited growth. Sales this year are expected to reach $2.15 billion, a 1.2 percent gain over 2002. Sales of $2.23 billion are projected in 2004.

The state has more than 3,400 restaurants with 50,000 employees.

Nationwide, the industry group credits a more positive economic environment and gains in consumer income for past growth in business.

These will continue to be catalysts for 2004, said Steven C. Anderson, Restaurant Association president.

Honolulu gas prices ease slightly

The Honolulu average price for regular gasoline slipped below $2 a gallon yesterday, though Hawaii prices remain close to record highs while mainland prices are down substantially from the end of summer.

The Honolulu price pierced $2 in August, reached a record $2.054 in early October and has remained near there since. Yesterday, the average pump price fell to $1.997 from $2.012, according to a AAA survey.

Meanwhile, the national average price for regular dove between September and November from a record $1.737 and was $1.471 a gallon yesterday.

The average price in Hilo was $2.079 yesterday, down from $2.144 a month ago, while the price in Wailuku, Maui, was $2.369, compared with $2.364 a month ago.


[Hawaii Inc.]



>> Bank of Hawaii has promoted three executive vice presidents: Dean Y. Shigemura, Cindy L. Thomas and Mary A. Weisman. Shigemura oversees Treasury operations, including managing interest rate risk, liquidity, investment portfolio, asset/liability and capital. Thomas continues as strategic marketing group manager and expands her duties to cover management of the marketing division, including advertising and collateral, client relations, client experience, promotions and events, and corporate communications. Weisman assumes responsibility for managing the bank's credit review function, assessing credit risk quality and the effectiveness of the company's credit process management.

>> Outrigger Condominium Collection has promoted Jim Hill from Outrigger Kiahuna Plantation general manager to Outrigger Royal Kahana Maui resort manager and condominium operations regional director. Steve Winter has also been promoted and will serve in two capacities: Oahu condominium operations regional director and Outrigger Luana Waikiki general manager. Hill will supervise the Royal Kahana's daily operations and facilities, as well as operations for the company's three other condominium resorts on Maui. Winter will oversee daily operations and facilities for the future Luana Waikiki and fulfill regional responsibilities for Oahu's Outrigger Waikiki Shore condominium.


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