Keauhou Beach Hotel on the Kona side of the Big Island is closing at the end of October.
The hotel is owned by the investment arm of Kamehameha Schools, which purchased the hotel in 2006, and is managed by Outrigger Hotels. The hotel says the closure affects 112 full and part-time employees.
The CEO of Kamehameha Schools says financial losses have been substantial, and that selling or renovating the hotel would have created an unacceptable financial risk.
Plans are underway to demolish the hotel.
Restoration projects are also in the works to turn the cultural site into a place for teaching and learning.
See the original article at: KHON2 Local News
