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Business briefs

For Tuesday, February 15, 2011

By Star-Advertiser Staff and News Services


Hawaii is named top honeymoon site

Hawaii was listed as the world's top honeymoon destination in the March issue of Brides Magazine.

Signature Travel Network, a group of more than 6,000 North American travel agents, chose the magazine's top honeymoon destinations along with top hotels and inside scoops on best bars, pools, beaches and more.

Other top-ranked honeymoon destinations in the survey were French Polynesia, Fiji, Italy, Bali, Bermuda, Costa Rica, Greece, the Bahamas and France. Belize was named the most up-and-coming destination.

China is no. 2 economy

TOKYO » Japan confirmed yesterday that China's economy surpassed its own as the world's second largest in 2010 and said a late-year downturn was its first quarterly contraction in more than a year. Japan's economy expanded 3.9 percent in the calendar year, but it was not enough to hold off a surging China. Japan's nominal GDP last year came to $5.47 trillion, less than China's total of $5.88 trillion.

WestJet debuts 6 weekly isle flights

Canada-based WestJet launched nondaily seasonal service last weekend from Calgary, Alberta, to Maui and Honolulu, and from Edmonton, Alberta, to Maui. All the flights will run until April 30.

WestJet will fly between Calgary and Maui three times a week, leaving Calgary on Mondays, Thursdays and Saturdays and departing Maui on Wednesdays, Thursdays and Sundays.

The Calgary-Honolulu service will be weekly and will leave and depart on Fridays.

The Edmonton-Maui flights will be twice a week, leaving Edmonton on Wednesdays and Sundays and leaving Maui on Tuesdays and Saturdays.

All the flights will be on Boeing 757-200s.

Blood-marrow forums to draw 2,400

Tandem meetings of the Center for International Blood & Marrow Transplant Research and the American Society of Blood and Marrow Transplantation that will be held Thursday through Monday at the Hawai'i Convention Center are expected to attract 2,400 medical industry experts from 44 countries.

The anticipated total is 400 more than the last time the event was held here in 2006 and is expected to generate $11.3 million in state revenue, with the center's hotel partners benefiting from 19,296 room nights.

CPB investment allocations change

Central Pacific Financial Corp. has amended a $325 million capital raise by investors while still keeping the total amount of the commitments.

The parent of Central Pacific Bank said in a Securities and Exchange Commission filing that The Carlyle Group and an affiliate of Anchorage Capital Group LLC will now invest approximately $94.6 million each, or collectively about $189.2 million, rather than $98.6 million apiece, or $197.2 million.

Other institutional investors and some directors and officers of the company will account for the remaining $135.8 million. All the parties will be able to purchase shares worth that amount for $10 apiece following the 1-for-20 reverse stock split that the bank recently implemented.

Marriott to spin off time-share unit

Marriott International Inc. is splitting into two publicly traded companies.

The company said as it reported on its earnings yesterday that it will spin off its struggling time-share development and management company later this year. The remaining business will concentrate on lodging management and franchising.

Marriott said the move will help both companies focus on opportunities in their respective industries.

It also helps the hotel chain shed the time-share business.

Marriott will continue to receive franchise fees from the time-share company's use of the Marriott and Ritz-Carlton brands.

The company said its net income for the 16 weeks that ended Dec. 31 rose 63 percent to $173 million from $106 million in the year-earlier period. Revenue rose to $3.6 billion from $3.4 billion.

On the Move

The Royal Kona Resort has named Jason Ito its executive chef. He will oversee 25 employees and all of the resort's daily culinary operations, which includes the Royal Kona Resort's luau, annual Mai Tai Festival and resort event menu planning and execution. Ito has 20 years' culinary and restaurant management experience.


Hawaii Dialogix Telecom has appointed Richard Zegar vice president of business development. His experience includes managing Airport Industrial Park for 18 years.


Kaiser Permanente Hawaii has added the following new physicians on Oahu, Maui and the Big Island:

» Ted Keyes, M.D., hematology/oncology, Wailuku Clinic
» Deborah Lachance, M.D., obstetrics/gynecology, Kona Clinic
» Ronald Martin, M.D., hospitalist, Wailuku Clinic
» Ali Merchant, M.D.., cardiology, Moanalua Medical Center
» Pamela Monzon, M.D., family medicine, Honolulu Clinic
» Luca Vassalli, M.D., otolaryngology, Moanalua Medical Center
» Anthea Wang, M.D., internal medicine, Honolulu Clinic

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