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Naniloa resort faces closure

The state denies a request to delay collecting a $250,000 lease payment

By Gary T. Kubota

POSTED: 01:30 a.m. HST, Sep 14, 2013

~~<p>Denial by the state Land Board on Friday on a request to grant another delay in the due date of a $250,000 lease payment for the financially troubled Naniloa Volcanoes Resort in Hilo prompted the hotel&rsquo;s bankruptcy trustee to begin plans for the potential shutdown of the hotel and layoff of about 56 employees.</p>
<p>&ldquo;It&rsquo;s a sad day for Hilo. It&rsquo;s a sad day for the state,&rdquo; said David Farmer, the bankruptcy trustee for Hawaii Outdoor Tours Inc., which holds the state lease and operates the hotel.</p>
~~

Denial by the state Land Board on Friday on a request to grant another delay in the due date of a $250,000 lease payment for the financially troubled Naniloa Volcanoes Resort in Hilo prompted the hotel’s bankruptcy trustee to begin plans for the potential shutdown of the hotel and layoff of about 56 employees.

“It’s a sad day for Hilo. It’s a sad day for the state,” said David Farmer, the bankruptcy trustee for Hawaii Outdoor Tours Inc., which holds the state lease and operates the hotel. Login for more...



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