BUSINESS BRIEFS
Hotels 84% full in August

Advertiser Staff

Hotels statewide were 84.14 percent full on average in August, up from 81.06 percent a year ago, according to PKF Hawaii.

Waikiki hotels were 85 percent full, up from 81.34 percent last August. Statistics were based on a survey of 69 hotels and 60 resort condominiums. The numbers confirm recent reports that August was a banner month for the tourism industry.

Bank to buy back shares

Bank of Hawaii said yesterday it has authorization to repurchase an additional $200 million of its common stock. Repurchasing shares is one way a company can increase the value of its stock. The company has been repurchasing shares since 2001 and as of Friday had bought back $787.1 million worth.

Bank of Hawaii's shares rose 19 cents yesterday to $33.63. The price has climbed about 10 percent this year.

Kaua'i elects 3 utility directors

Kaua'i utility ratepayers have elected Dee Crowell, Jim Mayfield and Raymond Paler to three-year terms on the board of directors of the Kaua'i Island Utility Co-op.

Norwegian, United set deal

United Airlines will provide to Norwegian Cruise Line blocks of airline seats between Hawai'i and United's hubs in Denver, Los Angeles and San Francisco for passengers taking interisland cruises. The multimillion dollar contract lasts through December 2007 and makes United the primary carrier for Norwegian packages.