The owners of the Hilo Naniloa Hotel are aiming to show off their completed renovations as early as November, nearly two years after acquiring the Banyan Drive hotel, according to plans submitted to the state Department of Land and Natural Resources.
The schedule calls for a soft opening Nov. 15 followed by a “national brand hard opening” on Dec. 31.
In the meantime, hotel owner WHR, LLC, is seeking to borrow up to $16 million from Hall Hilo, LLC, under a construction loan agreement. Construction is ongoing at the 383-room hotel, though the loan is needed to complete the work.
The loan is expected to close March 15.
According to WHR’s schedule, ongoing work includes lobby renovations and construction of a grand staircase, in addition to other repairs.
The hotel remains open during construction.
Construction costs are estimated to be about $10.5 million, according DLNR. It wasn’t clear if that’s for the entire hotel or just the Mauna Kea and Mauna Loa towers.
Plans for renovations to Kilauea Tower, gutted by the previous owner, are expected to be filed with DLNR on Dec. 1.
The Board of Land and Natural Resources will consider approving the mortgage and WHR’s renovation plans at its meeting Friday in Honolulu.
WHR initially planned to host a grand opening on Dec. 31, 2014. That date was pushed back due to delays in securing financing.
The owners told DLNR that $908,652 has been spent on renovations during phase I, which included some improvements to guest rooms, the lobby, outdoor painting and general construction.
Phase II will include $3.17 million in guest room renovations, $285,000 in golf course improvements and $1.5 million in restaurant and Crown Room renovations. Other funds will be spent on deferred maintenance, landscaping and other construction work.
Email Tom Callis at tcallis@hawaiitribune-herald.com.