ResortQuest flagship off market

ResortQuest flagship off market

There are 27 comments on the Honolulu Star-Bulletin story from Jul 9, 2008, titled ResortQuest flagship off market. In it, Honolulu Star-Bulletin reports that:

The mainland owners of ResortQuest 's flagship Waikiki hotel have pulled the property off the market in the wake of an economic slowdown affecting most major deals in Hawaii.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

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MJG

Aberdeen, WA

#21 Jul 9, 2008
Well we are booked into the Resort Quest Waikiki Beach Tower in early October and I keep hoping to find those rooms less expensive. Before you all think "another rich mainlander" let me assure you that is not true. My sisters and I have saved for over 3 years to have enough money to even visit Hawaii. There will be 5 of us and - not sure if many know this - but the RQ chain frequently have their hotels in the Entertainment Book for 50& off the rack rate, which this one does. One has to call the hotel directly but what a savings.- split 5 ways. Plus we have a 1200 sq foot condo with full kitchen so we will save money by cooking in.....which I truly don't mind doing. Not when I can do it while looking at that beautiful ocean and/or the beautiful sunsets at Waikiki. If I time it right, we can even sit on our lanai and listen to the outstanding Hawaiian music from across the street while we eat! What could be better? I can hardly wait!!!!

There are ways to save and still get soemthing really nice.
what

Honolulu, HI

#22 Jul 9, 2008
glenn paul wrote:
I neglected to mention one thing in the above reply. EVERY HOTEL IN WAIKIKI CANNOT BE A LUXURY HOTEL. WHERE ARE THE AVERAGE TOURIST GOING TO STAY. waikiki has the moana surfrider, royal hawaiian, hilton hawaiian village and a couple others.waikiki must keep hotels affordable for the bread and butter tourist. mahalo and aloha
When was the last time you were in Waikiki? There are a few luxury hotels, but the huge majority of hotels down there are crap holes. The cheapest rates in the state are in Waikiki.
glenn paul

Johnson City, NY

#23 Jul 9, 2008
MJG wrote:
Well we are booked into the Resort Quest Waikiki Beach Tower in early October and I keep hoping to find those rooms less expensive. Before you all think "another rich mainlander" let me assure you that is not true. My sisters and I have saved for over 3 years to have enough money to even visit Hawaii. There will be 5 of us and - not sure if many know this - but the RQ chain frequently have their hotels in the Entertainment Book for 50& off the rack rate, which this one does. One has to call the hotel directly but what a savings.- split 5 ways. Plus we have a 1200 sq foot condo with full kitchen so we will save money by cooking in.....which I truly don't mind doing. Not when I can do it while looking at that beautiful ocean and/or the beautiful sunsets at Waikiki. If I time it right, we can even sit on our lanai and listen to the outstanding Hawaiian music from across the street while we eat! What could be better? I can hardly wait!!!!
There are ways to save and still get soemthing really nice.
WOW..thanks for the info. we willcertainly look into what you said. we are like you. we start paying for everything a little each week starting 1 year in advance. you will like your hotel. I personaly think it is the best location in waikiki. right across the street from the beach, everything is walking and unless things have changed, which I doubt, you will be showered with the aloha spirit from the staff. enjoy your vacation..I am so jealous now. PS be sure and go to hanauma beach park, you can get a bus there. Mahalo and aloha
glenn paul

Johnson City, NY

#24 Jul 9, 2008
MJG wrote:
Well we are booked into the Resort Quest Waikiki Beach Tower in early October and I keep hoping to find those rooms less expensive. Before you all think "another rich mainlander" let me assure you that is not true. My sisters and I have saved for over 3 years to have enough money to even visit Hawaii. There will be 5 of us and - not sure if many know this - but the RQ chain frequently have their hotels in the Entertainment Book for 50& off the rack rate, which this one does. One has to call the hotel directly but what a savings.- split 5 ways. Plus we have a 1200 sq foot condo with full kitchen so we will save money by cooking in.....which I truly don't mind doing. Not when I can do it while looking at that beautiful ocean and/or the beautiful sunsets at Waikiki. If I time it right, we can even sit on our lanai and listen to the outstanding Hawaiian music from across the street while we eat! What could be better? I can hardly wait!!!!
There are ways to save and still get soemthing really nice.
I met to tell you.,travel light. everything on oahu and in waikiki is informal. we travel with one gym type bag for the overhead in the plane. we travel with 6 changes of shorts and shirts and use the hotels washer and dryer every 4 or 5 days. we dress up on the plane so we have dress clothes if we feel we need them in hawaii. again HAVE A FABULOUS TIME.. I KNOW YOU WILL ALOHA GLENN FROM pa
Alz

AOL

#25 Jul 9, 2008
glenn paul wrote:
<quoted text>I met to tell you.,travel light. everything on oahu and in waikiki is informal. we travel with one gym type bag for the overhead in the plane. we travel with 6 changes of shorts and shirts and use the hotels washer and dryer every 4 or 5 days. we dress up on the plane so we have dress clothes if we feel we need them in hawaii. again HAVE A FABULOUS TIME.. I KNOW YOU WILL ALOHA GLENN FROM pa
Glenn Paul: I've been reading your blog and I just want to commend you on your demeanor. I am just a regular joe like you and lived here in Hawaii for over 37 years and welcome you to Hawaii. YOu really exhibit the real spirit of Aloha of sharing and being gracious in your replies even though you are attacked by some of the more "mean spirited" people, even some living here in Hawaii. Yes, I agree with you that the hotels and cost is way overpriced and there need to be some adjustments. I feel that these adjustments will be happening very soon here in Hawaii and especially in Waikiki in the next few years. So, Glenn, please be on the lookout for much better deals so the average joe who work hard for their money can come over and enjoy themselves in Hawaii. The cost of living here is killing the goose that lay the golden egg, so the Japanese tourists who had been ripped off so much over the past 30 years are now going elsewhere. I do hope you and your family continue to give Hawaii another chance. Not everyone in Hawaii is greedy or mean spirited.
Kimo

Honolulu, HI

#26 Jul 9, 2008
Eastdil Secured, LLC is just an extension of the problem that created the former false economy that was built by the the Bush Administration, Cheney, Rove, et al--they pocketed millions and laundered millions of dollars for a variety of international rogues. The fact is very evident--most of these properties are "leasehold," and in most cases the ground rents are about to renewed at significantly higher rates and plainly put/said--they are all grossly overpriced and operated by "bozo's!" Those of us in the Hospitality business in Hawaii are truly ashamed that these hotels even exist! It's truly a shame that we allowed them to "pave paradise and put up a parking lot," then sell the parking lot for more commercial enterprises--at the expense of the people and the tourists and our local history and moreover Hawaiiana... "Shame, shame, shame--chain of fools..."
Economist

Honolulu, HI

#27 Jul 9, 2008
"Eastdil Secured, LLC is just an extension of the problem that created the former false economy that was built by the the Bush Administration, Cheney, Rove, et al--they pocketed millions and laundered millions of dollars for a variety of international rogues. The fact is very evident--most of these properties are "leasehold," and in most cases the ground rents are about to renewed at significantly higher rates and plainly put/said--they are all grossly overpriced and operated by "bozo's!" Those of us in the Hospitality business in Hawaii are truly ashamed that these hotels even exist! "

Kimo,

Eastdil Secured is a real estate broker, they manage/facilitate the buy/sell process for owners and potential buyers so not sure how this is an extension of any problem. Can you elaborate?

You are right that a lot of the land in Waikiki is leasehold and leases are coming up. What that does is force the hotel paying the ground lease to increase rates in order to stay in business. To increase rates and afford to pay the higher ground rents, they have to renovate and provide a product the market desires. It's just economics and how everyone is staying in business and if you are a hotel worker, this is how your job is being kept.

Waikiki is designed to allow tourists rich and poor to enjoy the beautiful beach that we are lucky to have in Hawaii. Keeping the product of Waikiki current and beautiful benefits the whole destinations and keeps visitors interested. Why would you want to go to a run down resort destination. Would you rather go to Reno or Las Vegas? At the end of the day, there are luxury to budget accomodations for all travelers.

Glenn, nice to have you in Hawaii and looks like budget hotels offering better products so keep on visiting us! Mahalo.

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