Lanai reopened its premier luxury hotel Monday after a $75 million overhaul.

The Four Seasons Resort Lanai had been closed for eight months. Renovation is scheduled to follow soon for the island’s second large hotel, now projected to reopen toward the end of this year.

Larry Ellison, billionaire owner of 98 percent of Lanai, including the Four Seasons, helped reopen the 217-room oceanfront property previously known as the Manele Bay Hotel.

Ellison participated in a traditional Hawaiian blessing in the hotel’s redone porte-cochere.

The reopening, which previously had been expected in December, will help recharge the economy of Lanai, which largely depends on tourism and is home to about 3,000 residents, including many who earn a living tied to the visitor industry. Visitor spending in recent months has been down between 60 and 80 percent.

Improvements to the hotel include a redesigned lobby, a new pool complex with waterfalls and the addition of more suites. Refurbished rooms feature walls adorned with teak, zebrawood and handmade Nepalese “lokta” paper, hand-woven wool area rugs on mahogany floors, 75-inch platinum bezel LED televisions and bathrooms with mirrors that double as TV screens.

The lowest nightly rate for rooms increased to $1,075 from $550 before the renovation. The most luxurious of 51 suites included in the room count goes for $21,000 a night and includes 5,137 square feet of living space.

Tom Roelens, the resort’s general manager, added that activities organized by Four Seasons also are part of the upgrade, which includes restaurants and retail stores in the hotel and the adjacent Jack Nicklaus Signature Manele Golf Course.

“We are delighted to share a unique destination experience with rich culture, diverse landscapes and limitless options for relaxation and adventure here on Lanai,” he said in a statement.

Four Seasons also said it refurbished a conference center that with outdoor space can accommodate groups of up to 500, and touts the private-island feel of Lanai as an exciting backdrop for spectacular business and social events.

“Take gardens and beautiful ocean vistas, add whimsical sparklers, fireworks, private yachts, helicopters and bubbles along with the mastery of Four Seasons staff for a truly unforgettable event,” the resort management firm said.

To help reattract guests to Lanai, Four Seasons is offering a fourth night free.

Four Seasons also announced that the 102-room Lodge at Koele, which has been closed since June, will undergo an “exciting renovation program” this year and is expected to reopen between October and December.