The new owners of the Ilikai hotel said they plan to shutdown hotel operations on Thursday, resulting in the layoff of at least 65 workers.

New York-based iStar Financial today confirmed that the 203 hotel rooms in the 1,000-unit property will be closed for an indefinite period due to mounting operating losses.
“The company has explored all available options to avoid the shutdown of the hotel operations and recognizes the impact such a decision will have on the community, condominium owners and residents, hotel employees and guests,” iStar said in a news release.
“The company continues to evaluate possible uses for the property that will address community needs.”
iStar will take over the Ilikai on Friday. The company is acquiring the landmark hotel from developer Brian Anderson’s Anekona Development through a foreclosure action.
Members of the hotel workers’ union, UNITE HERE Local 5, are urging iStar to keep the Ilikai open and to retain its workers. The union has scheduled a vigil this afternoon in support of the Ilikai’s workers.
The hotel says it employs 65 full-time workers but the union puts the staffing at about 75 full-time equivalent workers. Local 5 said the hotel’s staff includes another 45 workers that are not on active status.