Honolulu Star-Advertiser from Honolulu, Hawaii • B1

BUSINESS EDITOR: David Butts dbuttsstaradvertiser.com 529-431 0 300 MORE REASONS TO SWITCH. FRIDAY 8114 Hawaiian Telcom Turn to page 3 for more details. LK3 Ellison seals the deal on Hotel Lanai purchase The Kahala Hotel sells for $300M 1 X- dential Suite goes for $4,000, while its two-bedroom Imperial Suite nets about $10,000. "Four Seasons Resort Hualalai on the Big Island is the only property in Hawaii that ever traded for more money on a per-key (room) basis," said Joe Toy, president and CEO of Hospitality Advisors LLC. "It went for $1.1 million per key, but it was fee simple.

This property, on the other hand, is leasehold and it's a pure hotel transaction. The reaction from investors will be, 'That's a pretty high Toy said. A traditional ownership model might not support that price, Toy added, but the buyer is a Japanese company that will use it as part of its time-share network. Katsuyasu Ito, president and COO of Resorttrust, said in a statement issued Wednesday that the com- Please see KAHALA, B2 By Erika Engle erikastaradvertiser.com Billionaire and Oracle Corp. CEO Larry Ellison now owns every hotel room on Lanai, having closed July 7 on the purchase of the venerable Hotel Lanai.

The price paid by Ellison's Lanai Resorts LLC was undisclosed by seller Lanai Hospitality Partners LLC principal Mary Charles. "We owned it for seven years, and we did really well with it," she told the Honolulu Star-Advertiser. "We turned it into a great spot, it was loved by visitors and locals, and so we leave it with a great legacy and in good hands." The 10-room hotel was originally built in 1923 by James Dole of pineapple fame, as a retreat for Dole Pineapple executives. For generations it was the only hotel on the island until Castle Cooke opened the Lodge at Koele in 1990 and the Please see LANAI, B2 OAHU PUBLICATIONS INC. Dave Kennedy: Chief Revenue Officer, OPI, Star-Advertiser JAMM AQUINO 2010 Inc.

purchased the Kahala Hotel Resort for $300 pool from the Imperial Suite. A Japanese company buys the playground for the famous, which opened 50 years ago By Allison Schaefers aschaefersstaradvertiser.com The Kahala Hotel Resort has been sold to Japanese-based Resorttrust Inc. for $300 million, which equates to $887,000 per room, the next-to-highest per-room price paid for a Hawaii hotel and the highest per-room price paid for an Oahu property. That's a pretty penny for a resort that cost its original owners Charlie Pietsch and Conrad Hilton just $12 million to build. Opening rates at what was called the Kahala Hilton in 1964 averaged about $26 a night for a regular room and $150 a night for the Presidential Suite.

Today nightly room rates start at about $495, and the resort's two-bedroom Presi OAHU PUBLICATIONS INC. Rebecca Stolar: Vice President, Human Resources In his newly created role, Kennedy will supervise all of OPI's revenue-generating divisions. "I am honored by the trust and confidence that Dennis has placed in me, and I look forward to doing everything I can to continue growing OPI and solidify our reputation as premier publishing and media company, not just in Hawaii, but in the 14 OAHU PUBLICATIONS INC. Troy Fujimoto: Vice President, Digital Media Japanese-based Resorttrust million. This is a view of the OAHU PUBLICATIONS INC.

Glenn Zuehls: Publisher, San Francisco Media Co. comes weeks after Glenn Zuehls was named publisher of San Francisco Media which produces the San Francisco Examiner, SF Weekly and the San Francisco Bay Guardian. OPI also owns San Francisco Media Co. Zuehls had been OPI's senior vice presidentadvertising based in Honolulu. Kennedy and Zuehls played pivotal roles in the 4 i Oahu Publications announces management reorganization OAHU PUBLICATIONS INC.

Marty Black: Vice President, Production 2010 merging of the Star-Bulletin and The Honolulu Advertiser and are credited with the steady growth of the Star-Advertiser since the merger. "I have worked with Dave for many years, and he has done an outstanding job helping navigate Oahu Publications and the Honolulu Star-Advertiser through very challenging times in Star-Advertiser staff Oahu Publications the parent company of the Honolulu Star-Advertiser, has promoted Dave Kennedy, senior vice presidentmarketing, to chief revenue officer of OPI and the Star-Advertiser amid a reorganization of the OPI management team. Kennedy's promotion BUSINESS BRIEFING WEEKLY OCCUPANCY Hotel snapshot OAHU PUBLICATIONS INC. Linda Woo: Group Publisher, Magazine Division Asia-Pacific region," Kennedy said. The promotions of Kennedy and Zuehls led to a reorganization of the advertising, sales and marketing departments of OPI and the Star-Advertiser.

As part of the reorganization, six Hawaii-based executives are being promoted to new posi- Please see OPI, B3 MARKET WATCH DOW JONES Close: 16,563.30 Change: 500 Close: 1,930.67 Change: NASDAQ Close: 4,369.77 Change: CRUDE OIL Close: $98.17 Change: the newspaper and publishing industry," Dennis Francis, OPI president and publisher and president of San Francisco Media said Thursday. "Dave is an extremely talented individual with a deep knowledge of newspapers, and I have every confidence that he will be successful in guiding OPI and the Star-Advertiser as chief revenue officer." RATES FRIDAY 8 1 IN THE NEWS Hawaii Career Expo will be Tuesday at the Blaisdell Hall The Honolulu Star-Advertiser, with Altres Staffing, will host the Hawaii Career Expo on Tuesday from 9 a.m. to 3 p.m. at the Blaisdell Exhibition Hall. The event is free for the first 1,500 who pre-register online at HawaiiCareerExpo.com and who are dressed in business attire.

"Job seekers will have the opportunity to network and hand out their resume to employers they are interested in working for," said Dennis Francis, Star-Advertiser president and publisher. "The first run of the Career Expo earlier this year was a huge success for both employers filling key positions and new hires being placed within their area of expertise." Nearly a hundred exhibitors will be present in a variety of fields, including travel and tourism, banking, retail, human resources, insurance, business, food service and much more. for the week ending July 26: OCCUPANCY CHANGE RATE REVPAR U.S. 77.9 2.8 $119.17 $92.88 Miami 81.2 1.9 $156.54 $127.12 New York 92.5 1.7 $247.06 $228.59 Oahu 91.4 3.1 $235.86 $215.51 San Francisco 94.7 $219.77 $208.04 RevPAR is revenue per available room, the amount of revenue generated by each room. Source: Smith Travel Research, Hospitality Advisors LLC Star-Advertiser staff TODAY'S MORTGAGE rtA I AO I 30 YFAR rtA 15 YEAR FIXED RATE 30 DAY LOCK Z.0D7o 3.UOI70 I ssfSx 3.OD70 70 ATC I ADD ATC I AKK r-i -rrv r-i gg HAWAII'S 2014 BBB I.