The iconic Ilikai Hotel, which has hosted visitors to Waikiki for more than 45 years, is shutting down as of July 9.
The owner of the hotel, New York-based iStar Financial, confirmed that the property's 203 hotel units will be closed by its current operator. Its 806 condominium and timeshare units as well as common areas , such as the pool, are not directly affected by the decision.
Sources told TravelAge West that the Ilikai has been losing several hundred thousand dollars per month.
“The company has explored all available options to avoid the shutdown of the hotel operations and recognizes the impact such a decision will have on the community, condominium owners and residents, hotel employees and guests,” said Andrew Backman, iStar Financial senior vice president of investor relations and marketing. “The company continues to evaluate possible uses for the property that will address community needs.”
Current guests have been notified of the closure and will be accommodated at other hotels in the area, said Backman. Clients holding future reservations at the Ilikai will be relocated as well.
Flanking the Ala Wai Boat Harbor, the Ilikai opened in 1964. Considered one of the area's most prestigious vacation addresses, it gained additional fame in the opening shot of the Hawaii Five-O television series. In recent years, however, its hotel occupancy has been low and its lobby-level restaurants and shops have been closed.