Posted at 1:02 p.m., Wednesday, June 21, 2006
Business briefs: Nimitz partners setttles with lender
Advertiser StaffTwo hotels near Honolulu International Airport will be retained by their present owner under a legal settlement announced by attorneys representing the owner of Honolulu Airport Hotel and Best Western Plaza.
Property owner Nimitz Partners LLC had been embroiled in a seven-year financial dispute with a lender. The case, which led to Nimitz Partners filing bankruptcy in 2000, was resolved last month before a jury trial began in U.S. District Court.
California-based law firm Irell & Manella LLP, which represented Nimitz Partners, said the settlement resolves the bankruptcy case and allows Nimitz Partners to retain full ownership of the 308-room Honolulu Airport Hotel and the 314-room Best Western Plaza. Other terms of the settlement were not disclosed.
Hospitality Advisors recognized by trade publication
Honolulu-based Hospitality Advisors LLC has been ranked the nation's eleventh-largest independent hotel consultantcy by the industry's main trade publication, Hotel & Motel Management.
The ranking was based on annual consulting revenues. Hospitality Advisors, which generated more than $1 million in revenue last year, provides consulting services to companies such as Starwood Capital, Host Marriott, Hilton Hotels Corp. Outrigger Hotels & Resorts, the Hawaii Tourism Authority and Goldman Sachs.
The firm also announced that President Joseph Toy recently accepted an invitation to join the International Society of Hospitality Consultants.