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$500 million Princess Kaiulani work on hold

By Erika Engle

LAST UPDATED: 08:26 a.m. HST, Feb 28, 2014

Kyo-ya Hotels & Resorts LP will not close the Sheraton Princess Kaiulani hotel in August, as previously announced.

The hotel will remain open through the end of the first quarter of 2015 and possibly longer, while management evaluates the future of the property, according to a statement released Friday.

The original design concept for the hotel's $500 million redevelopment was announced in November.

"This is a very important decision and Kyo-ya is very committed to the community and what impact this project will have in Waikiki," said Takamasa Osano, Kyo-ya president, in a statement.  "It is my desire to carefully review the plans before moving forward."

Starwood Hotels & Resorts operates the Princess Kaiulani and "fully supports Kyo-ya's decision" to keep the hotel operational, said Harris Chan, regional vice president.

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Tony91 wrote:
Sad for a part of Waikiki desperately in need of an updating. This hotel is old and obsolete.
on February 28,2014 | 07:08AM
Silversword wrote:
Tony91: In most of the world (except for Las Vegas and Macau), "old" means charming. The charming shops, rooms-with-lanai, and heavily gardened pool area of the "old" PK may just be one of the only attractive and evocative parts left of old Waikiki, beside the Royal and the Moana. BTW, has anyone noticed how the former "old" Wyland hotel on Kuhio, with its large pool area and gardens, has been sensitively updated and saved from the wrecking ball by the Marriott Courtyard management company? It's now one of the nicest non-beachfront hotels in Waikiki. Maybe now, in the same spirit, the PK will be saved from mall-ification, too! World travelers have seen enough glass and aluminum crap. I bet they want charm, and sturdiness, and unique, mid-century, tropical modern style -- and a little bit of nostalgia.
on February 28,2014 | 09:21AM
hawaiiwalter wrote:
It looks like they got cold feet with all the bad news coming out of the Waikiki area. A recent killing...homeless everywhere...drunks, etc. And let's not forget what the Mormons and the Catholic church have done to our image of Aloha. Who needs Waikiki when you can go elsewhere for a lot less and you don't have to put up with all the unpleasantness. A lot of "thanks" should go to the religious fanatics.
on February 28,2014 | 08:33AM
krusha wrote:
I bet the project went way over their estimates when it came for budgeting the cost. Probably cost the same just knocking the whole thing down and building a new hotel from scratch.
on February 28,2014 | 08:58AM
Bdpapa wrote:
I think so too!
on February 28,2014 | 10:06AM
HonoluluHawaii wrote:
No matter for Grabby about cost issues, as he will "order" the half percent excise tax to continue until all children of TheRail employees have sent their children through college!!
on February 28,2014 | 07:44PM
Tony91 wrote:
Uh, yeah. That is what the project was - a new hotel. Old one knocked down.
on February 28,2014 | 09:44PM
Maneki_Neko wrote:
Wait fir it...request for big variances coming...
on February 28,2014 | 10:47AM
steveoctober wrote:
They probably realized it's going to be better just throwing in minimal upgrades at a fraction of the cost to keep the hotel operational for the next 10 years. Watch that $500 million turn into $5 million. Patch job good 'nuff.
on February 28,2014 | 12:29PM
RandolphW wrote:
You said it all.
on February 28,2014 | 05:56PM
Surfer_Dude wrote:
Absolutely right. $500 million renovation will not bring in $500 million in revenue. $5 mil will get you some new carpet, fresh paint, new furniture and you're good to go. PK is a pretty decent place that is reasonably priced. Just needs a little updating and freshening up.
on February 28,2014 | 07:39PM
HD36 wrote:
Lets wait to see how many Japanese visitors have enough discretionary income when the full effects of Abenomics are seen. Already Japan has had its largest trade deficit in history. The Yen has devalued about 30% against the dollar, and the government is rearming for a possible conflict with China. Smart move, as the numbers don't jive with Japan's economic propoganda. Not to mention the national sales tax goes up more than 25% in April.
on February 28,2014 | 06:20PM
ISCREAM wrote:
Obamacare is resulting in a significant loss of business from the West Coast...
on February 28,2014 | 09:52PM
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