The Hilo Hawaiian Hotel, a Hilo Bay landmark, was sold this week for $17.3 million to a group of local investors led by Castle Resorts & Hotels. Along with Castle, new owners are RAM Corp and Honolulu attorney Rick Fried.

Fried hopes to continue to make upgrades to the hotel, while providing good service and reasonable prices.

Castle has managed the Hilo Hawaiian Hotel for over 20 years under foreign and off-island ownership, and will continue to manage the hotel under the new local ownership with no impact to the current operation of the hotel.

hilo hawaiian

The Hilo Hawaiian is a favorite for visitors and locals when staying in Hilo and serves as a meeting place for many Hilo events.

Tags: Commercial real estate, Hilo, Hilo Bay, Hilo commercial sale, Hilo Hawaiian

This entry was posted on Monday, July 26th, 2010 at 6:04 pm and is filed under Big Island Lifestyle, Big Island Real Estate, Big Island Real Estate News, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.