Outrigger Enterprises To Purchase Waikiki Beachcomber Hotel

Transaction adds 500 hotel rooms to Outrigger portfolio

By: Dawna Robertson

Outrigger Enterprises, Inc. has announced the signing of an agreement to acquire the Waikiki Beachcomber Hotel from an affiliate of Tokyo-based Mitsui Leasing & Development, Ltd. The sale is expected to close in mid-October.

“We are proud to include this fine property as part of our family of quality Outrigger and OHANA hotels in Waikiki,” said David Carey, president and CEO of Outrigger Enterprises. “The Waikiki Beachcomber offers one of the best locations in Waikiki just a block away from world-famous Waikiki Beach and a 35-year legacy of excellent service.”

The purchase also allows Outrigger to replace some of its inventory lost to the development of the new Waikiki Beach Walk project a $460 million, 7.9-acre redevelopment to transform the dated Lewers-Kalia-Beach Walk area of Waikiki into a “must-see” gathering place.

After the transaction closes, the hotel will be operated under Outrigger’s OHANA brand as the OHANA Waikiki Beachcomber Hotel. The property will join 12 other hotels currently operated by Outrigger under the OHANA brand in Hawaii and Guam.

Outrigger plans a major renovation of the OHANA Waikiki Beachcomber beginning in 2007.



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