Ilikai Hotel Stays on the Resale Market July 15, 2009
Posted by Bryan Connelly in : ARDA, Timeshare Rental, Timeshare Resale, Timeshare Resource, Travel , add a commentIlikai Hotel, located on the shores of Waikiki, has closed its doors, shutting down as of July 9, 2009. After being acquired by iStar Financial Inc. for $51million at a foreclosure auction in May, economic woes and operating losses have forced this prominent hotel to deactivate nearly 1,000 units cut hundreds of employees after decades of loyal service.
Featuring nearly 210 guestrooms and timeshare suites, there are 1000 units overlooking the spectacular view of Honolulu and the beaches of Waikiki. A popular timeshare is the Shell Vacations Club at Waikiki Marina Resort at the Ilikai. This is Oahu’s first timeshare established in the luxury high-rise hotel.
Due to a pact with the labor union, iStar has agreed to reopen the hotel in the near future. This reopening will not only add value to the properties on the resale market, but without a sales office at Ilikai, BuyATimeshare.com and the resale market is the only economic way to rent or buy a suite at this iconic luxury hotel for a vacation on the shores of Hawaii.