The Mandarin Oriental Hotel Group is returning to Oahu, where it will operate hotel units and residences in Mana‘olana Place, a 36-story mixed-use tower developed by Los Angeles-based Salem Partners.
The tower, which is slated to open in 2020, is at the intersection of Kapiolani Boulevard and Atkinson Drive across from the Hawai‘i Convention Center. Mandarin Oriental, Honolulu, will encompass 125 guest rooms and suites and 107 private homes, with resort amenities. The property also will include a rooftop restaurant and bar, a sky-lobby lounge, wedding and meeting space, and a spa with a fitness center and 80-foot outdoor pool.
The Mandarin Oriental Hotel Group left Oahu in 2006, when management of the then-Kahala Mandarin hotel was transferred to Landmark Hotels Inc.
First Hawaiian stock sale priced at $32
First Hawaiian Bank’s holding company announced Tuesday night that its majority shareholder, a BNP Paribas affiliate, will sell up to 28.75 million shares of the state’s largest bank at $32 a share.
The secondary stock offering, which is expected to close Monday, would reduce BNP’s ownership of the bank to 62 percent from its current 82.6 percent if the underwriters exercise their right to purchase 3.75 million of those shares. First Hawaiian Inc. will not receive any of the proceeds from the sale.
First Hawaiian’s stock closed up 1 cent at $32.99 on Tuesday. First Hawaiian, which had its initial public offering Aug. 4, also saw its 180-day lock-up period end on Tuesday, freeing up major shareholders and company insiders to sell their shares of the company beginning today if they desire.
First Hawaiian’s stock is up 43.4 percent since its IPO.
New iPhone helps Apple top sales forecast
Apple Inc. reported quarterly revenue that topped analyst projections, fueled by demand for iPhones.
Apple said sales rose 3.3 percent to $78.4 billion, with earnings of $3.36 a share in the three months through Dec. 31. Analysts forecast profit of $3.22 a share on revenue of $77.3 billion, according to data compiled by Bloomberg.
“We were surprised by the strength of iPhone 7 Plus where we were actually short of supply throughout the quarter,” Chief Financial Officer Luca Maestri said Tuesday.
Introduced in September, the iPhone 7 represented a modest update to its predecessor, the 6S, adding water resistance and an improved camera, battery life and processor while retaining similar styling. Expectations are mounting for a more significant upgrade to Apple’s flagship product later this year, which is the 10th anniversary of the iPhone’s launch.
Apple said it sold 78.3 million iPhones in the final quarter of 2016, generating $54.4 billion in revenue in the period. The average price for each iPhone was $695.
ON THE MOVE
Domestic Violence Action Center CEO Nanci Kreidman has announced that Marci Lopes is the organization’s new deputy director as of March 1. Her responsibilities include overseeing the management team to help provide organizational vision, direction and accountability as well as have direct oversight of the Teen Alert and Safe on Scene programs. Lopes will assist in system reform and public policy efforts, which DVAC is known for, and provide community, staff and professional training. She was previously executive director of the Hawaii State Coalition Against Domestic Violence. Lopes has also managed other domestic violence services and programs, including Lehua Domestic Violence Transitional Home, Family Visitation Center and Family Peace Center.
Ala Moana Hotel has appointed Edison Villaver as assistant housekeeper in its housekeeping department. He will help the housekeeping manager to ensure outstanding guest service. Villaver was previously housekeeping manager for the Hilton Waikiki Beach.
