Anekona Development Corp. has completed its purchase of the Ilikai, a landmark Waikiki hotel, and says it will invest more than $40 million in property upgrades. The hotel comprises two towers containing 703 rooms, as well as parking, commercial space and extensive open areas overlooking the Ala Wai marina and the ocean beyond. The hotel will be repositioned as a hip, upscale destination. The hotel had borne the Renaissance brand until the purchase was finalized; it now is to be known as The Ilikai-Where Waikiki Begins. Anekona plans to work with a partner on redeveloping the hotel's Yacht Harbor Tower (the portion of the hotel closest to the Hawaii Prince Hotel Waikiki). Despite rumors in the marketplace, no branding decision has been made at this time.
