Hilo Hawaiian Hotel Sold*

HONOLULU – The Hilo Hawaiian Hotel on the Big Island has been purchased by a group of local investors for $17.3 million.

The purchase was announced in a Friday news release by the hotel’s general manager, Daryle Kitamori.

He said the new ownership is composed of Castle Resort & Hotels, RAM Corp. and attorney Rick Fried.

Castle has managed the hotel for over 20 years and will continue to do so under a multiyear agreement.

The group bought the hotel from CarVal Investors.