POSTED: 12:35 p.m. HST, Jul 31, 2014
LAST UPDATED: 03:40 p.m. HST, Jul 31, 2014
The Kahala Hotel & Resort has been sold to Japan-based Resorttrust Inc. for $300 million.
The seller, Kahala Hotel Investors LLC, said the transaction is expected to close Sept. 30, according to a statement released by Carmine Iommazzo, the hotel's general manager.
All employees of the 338-room resort will be retained by Resorttrust, which will assume the collective bargaining agreement between the hotel and UNITE HERE! Local 5.
"Our current contracts and agreements with our travel partners and with our reservations & marketing partners will continue in effect," said Shawn Sweeney, president and chief operating officer of Landmark Hotels Inc., the resort's operator. "We expect no change to our management and to our services," he said.