Outrigger purchases resort in Maldives
Hawaii-based Outrigger Enterprises Group is expanding its presence in the Indian Ocean with its purchase of the Konotta Island Resort situated in the Gaafu Dhaalu Atoll of the Republic of Maldives.
The deal between Outrigger and Crystal Lagoon Pvt Ltd. closed Tuesday for an undisclosed amount. Following a property renovation, the hotel is expected to open as the Outrigger Konotta Maldives Resort in July 2015.
"This latest acquisition marks the continued successful expansion of Outrigger in the Indian Ocean and fits perfectly with Outrigger’s aim to be the world’s premier beachfront resort brand," said David Carey, president and chief executive officer at Outrigger Enterprises Group.
"The Outrigger Konotta Maldives Resort will be operated and marketed as a high-end premium property located in a magnificent atoll setting."
Outrigger currently operates or has under development 45 properties with approximately 11,000 rooms located in Hawaii; Australia; Guam; Fiji; Thailand; Mauritius; Maldives; Vietnam and Hainan Island, China.
This most recent acquisition is the second resort for Outrigger in the Indian Ocean following the purchase and opening of the Outrigger Mauritius Resort and Spa in April this year.
San Diego philanthropist seeks newspaper
SAN DIEGO » An octogenarian philanthropist launched a bid to buy San Diego’s dominant newspaper and turn it into one of the nation’s largest nonprofit news organizations.
Malin Burnham’s bid for U-T San Diego is the latest effort to frame a newspaper investment as a gesture of civic goodwill. Analysts compared the San Diego businessman to a new breed of owners at The Washington Post, The Boston Globe and Star-Tribune of Minneapolis who act largely on a belief that newspapers perform a public service.
Burnham, whose background is in commercial real estate and insurance, said U-T San Diego owner and publisher Douglas Manchester encouraged him to seek nonprofit status from the Internal Revenue Service, which may take about 90 days.
Burnham, 86, told the Associated Press that he and Manchester each proposed prices and that he believes his offer can be "in the ballpark."
San Diego would join a small group of established, metropolitan newspapers owned by nonprofit companies, including the Tampa Bay Times in Florida and the Deseret News in Utah. Nonprofit news organizations tend to be startups.
Los Angeles Register ends publication
LOS ANGELES » The Los Angeles Register, which debuted in April as a challenger to the Los Angeles Times, has ceased publication.
In announcing the closure, Freedom Communications Inc. also said it had sold the Santa Ana headquarters for its flagship paper, the Orange County Register, for $27 million to local developer Michael Harrah.
The Register will lease space in the building.
Freedom co-owners Aaron Kushner and Eric Spitz sent a memo to employees Monday night announcing that the LA Register was closing.
The company will focus on markets in Orange, Riverside and San Bernardino counties, the memo said. Freedom owns the Riverside Press-Enterprise, which it bought in November for more than $27 million.
The memo said there will be "staff changes" but did not give specifics or mention layoffs.
Wind power proposed to supply L.A. area
LOS ANGELES » An $8 billion project to supply the Los Angeles area with large amounts of electricity from a wind farm in Wyoming via an energy storage facility in Utah was proposed Tuesday by four companies.
The Wyoming and Utah sites would be linked by a $2.6 billion, 525-mile transmission line that would traverse Colorado, and the power would be sent on to California through an existing, 490-mile transmission line, the group said in a statement.
The electricity would be enough to serve 1.2 million homes, the statement said.
Pathfinder Renewable Wind Energy, Magnum Energy, Dresser-Rand and Duke-American Transmission Co. said they plan to formally submit the proposal to the Southern California Public Power Authority by early 2015.
ON THE MOVE
Atlantis Adventures has announced two appointments:
» Jennifer Schultz has been named as operations trainer. She has more than 10 years of teaching experience in adult education. Prior to joining Atlantis, Schultz served as a program specialist for A-Team Solutions in Hawaii, which included working with the Army Reserve and National Guard members to help them improve their job-preparedness skills.
» Mike Scott has been appointed as a sales representative. Scott’s experience includes owning and operating Hawaii Adventure Sports in Kailua as well as serving as an instructor in windsurfing, kite boarding and surfing for Hawaiian Watersports.
Ditech Mortgage Corp. has announced that Peter Castillejos is an area sales manager at its Honolulu office. He has more than 10 years’ experience in the industry.
