BUSINESS BRIEFS
Ownership of two hotels settled
Advertiser Staff and News Services
Two hotels near Honolulu International Airport will be retained by their owner under a legal settlement.
Nimitz Partners LLC, which owns the Honolulu Airport Hotel and Best Western Plaza, had been embroiled in a seven-year-old 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.
HOTEL CONSULTANT FIRM 11TH LARGEST
Honolulu-based Hospitality Advisors LLC has been ranked the nation's 11th-largest independent hotel consultancy by industry trade publication Hotel & Motel Management.
The ranking is 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 and the Hawaii Tourism Authority.
MOST HAVE NO EMERGENCY FUND
NEW YORK — Fewer than four in 10 people have set up emergency funds to weather difficult financial times, according to a survey.
A poll done for Bankrate.com, an online financial information service based in North Palm Beach, Fla., found that just 39 percent of respondents have emergency funds, defined as checking or savings accounts with the equivalent of three months' living expenses.
