July 11, 2012
Contributed by ksinfo
"Kamehameha Schools has been an excellent partner in Kyo-ya's success for nearly 40 years. We are excited and honored to extend our relationship for another 65 years and ensure Kyo-ya's continued stewardship of the Royal Hawaiian Hotel. Our significant investments in this historic property represent our commitment to maintaining its cultural and economic value as the Pink Palace of the Pacific," said Greg Dickhens, President of Kyo-ya Hotels and Resorts, LLC.
In the last five years, Kyo-ya has invested more than $300 million in its Waikiki properties, including more than $57 million at the Royal Hawaiian. In 2008, the hotel closed for seven months to undergo extensive restoration and renovation. In 2010, the Royal Hawaiian renovated yet again and reopened the Royal Beach Tower with upgraded rooms, handcrafted furniture and classic styling.
The beachfront hotel property and adjacent Royal Hawaiian Center comprise Kamehameha's most significant commercial real estate holding.
"Kamehameha is pleased to extend this lease with Kyo-ya, a longtime lessee and respected steward of our land," said Paul Quintiliani, director of Kamehameha's Commercial Real Estate Division. "Kyo-ya has been a valued contributor to Waikiki's beautification and has helped preserve Honolulu's position as a world-class destination. We wish Kyo-ya Hotels and Resorts continued success."
About Kyo-ya Hotels and Resorts
Kyo-ya Hotels & Resorts, LLC owns six hotels, five in Hawaii and one in San Francisco. The company employs more than 4,000 people. Kyo-ya provides its guests with the modern amenities and freshness they expect at each of its properties: the Sheraton Waikiki Resort; the Moana Surfrider Hotel, A Westin Resort and Spa; the Royal Hawaiian, A Luxury Collection Resort; the Sheraton Princess Ka'iulani; the Sheraton Maui Resort and Spa; and The Palace Hotel, A Luxury Collection Hotel (San Francisco).
About Kamehameha Schools
Kamehameha Schools is a private, educational, charitable trust founded and endowed by the legacy of Princess Bernice Pauahi Bishop. The year 2012 marks the 125th anniversary of the opening of Kamehameha Schools, which today operates a statewide educational system enrolling over 6,900 students of Hawaiian ancestry at K-12 campuses on O'ahu, Maui and Hawai'i and 31 preschool sites statewide. Over 40,000 additional Hawaiian learners and caregivers are served each year through a range of other Kamehameha Schools' outreach programs, community collaborations and financial aid opportunities in Hawai'i and across the continental United States.
Media Contacts:
David Pettinger, Kyo-ya Hotels and Resorts, (808) 397-0923
david.pettinger@anthologygroup.com
Erin Kinney, Kamehameha Schools, (808) 534-8507
erkinney@ksbe.edu
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
