Ihilani to be renamed Four Seasons Resort Oahu at Ko Olina

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PBN File

The JW Marriott Ihilani Resort & Spa at Ko Olina will be renamed Four Seasons Resort Oahu at Ko Olina when it reopens in December 2015 after an extensive renovation.

Duane Shimogawa

Reporter- Pacific Business News

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The JW Marriott Ihilani Resort & Spa at Ko Olina will be renamed Four Seasons Resort Oahu at Ko Olina and is scheduled to be reopened under the Four Seasons flag in December 2015, according to a brochure sent to employees that Jeff Stone, master developer of the West Oahu resort community, provided to PBN.

There will be about 550 total rooms and residences at the Ihilani property once the renovation is complete.

Stone, the founder and head of The Resort Group, told PBN this week, it reacquired the property for $250 million and plans to spend another $250 million on the redevelopment part of the project in an equal partnership with Canada-based Westbank.

The new hotel that will replace the Ihilani will have 200 rooms with commercial units, including restaurants, and another 200 units dedicated to hotel-condominiums.

The new tower will include 150 residences for sale and should be open between a year and 18 months after the completion of the redevelopment of the Ihilani.

"We won't be selling these residences until the middle of next year," Stone told PBN. "We expect it to be priced up to a high of over $10 million."

The first phase of the project is expected to get underway about three weeks after the hotel shuts down at the close of business on Jan. 10, although the final construction contract has not yet been awarded.

"Expect lots of action in the month of February [2015]," Stone said.

The redevelopment of the Ihilani will create about 2,500 construction jobs and another 800 permanent jobs, he said.

Duane Shimogawa covers energy, real estate and economic development for Pacific Business News.