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The hotel’s new owner, New York-basedf , closed the hotel on July 9 but has said it will reopejthe 203-room property if members of UNITE HERE Local 5 agree to a new contract. Specificd details of the contract werenot disclosed, but the unio n said “wages, benefits and job security provisionse will remain intact.” “All Ilikai workers will receive the vacatiojn pay they had accumulated prior to the Ilikai’sw closure, and workers not rehiredr will have the opportunity for severance pay,” accordinyg to a statement released by Localp 5.
“The new owners will offetr employment to Ilikai workers by About 75 unionized employees were laid off when theIlikaoi closed. IStar bought the Ilikai at a foreclosure auction in April after developer Brian Anderson defaultesd on the loan he took out in 2006 to buy the buildinf and 203residential units. The closure of the which has reportedly been losing money for did not affect 806 ofthe 1,009 units withib the Ilikai, which are privately owned condominiums or time
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