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2 Ohana hotels in Waikiki sell for $38M

A California-based real estate company paid $38 million for the Ohana Waikiki Surf and the Ohana Waikiki Surf East hotels.

The buyer, eRealty Cos., completed its purchase of the 303-room and 102-room hotels from Japan-based Katokichi Co. on Friday, according to Eric Hill, president of Honolulu Realty Inc., which brokered the sales.

Hill said eRealty completed the purchase after it sold an industrial property in Iwilei and an office building near Honolulu Airport late last year.

Katokichi acquired the fee-simple hotels, which are at 2200 Kuhio Ave. and 422 Royal Hawaiian Ave., in 1989 from Outrigger Hotels & Resorts.

Maui to get Mercedes dealership

The principals of a company that bought six TheoDavies Euromotors car dealerships for $100 million in 2003 have purchased land in Kahului to develop Maui's first Mercedes-Benz dealership and a small retail operation.

Fletcher Jones Jr. and Gene Reed, whose Reed/Jones Acquisition HI LLC purchased the TheoDavies properties, are operating on Maui as Jones Reed Maui Property Holdings LLC.

Their new partnership bought 3.2 acres of vacant land for an undisclosed price from Honolulu Ltd. The parcel is triangular and has frontage on Hana Highway, Kaahumanu Avenue and Hobron Avenue.

The Maui dealership is expected to open later this year.

Reed and Jones own the Hawaii franchises for Mercedes-Benz, Jaguar, Land Rover and Porsche. They also own two Honda dealerships on the Big Island.

Jones is president and chief executive of Fletcher Jones Motorcars Inc., which has dealerships in Illinois and Nevada and a flagship auto superstore in Newport Beach, Calif. His son, Fletcher Jones III, is general manager of the Honolulu Mercedes-Benz dealership.

Reed owns a Toyota and Lexus dealership in Charleston, S.C., and has interests in dealerships in Nevada and Florida.

ATA to expand Phoenix flights

ATA Airlines Inc. said yesterday it is adding its Phoenix-Honolulu and Phoenix-Maui routes to its new codeshare agreement with discount carrier Southwest Airlines.

In addition, ATA said it will expand its Phoenix-Hawaii service to six flights a week from two on April 3, then move to weekly service June 7.

5,000 attending Hawaii convention

More than 5,000 conventioneers are at the Hawaii Convention Center through tomorrow for the SunGard Summit 2005, a conference on information technology for higher education.

The event, put on by Pennsylvania-based SunGard Data Systems Inc., is expected to generate $78.9 million in visitor spending.