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Billionaire Buys Lanai Hotel

Billionaire Larry Ellison, who owns 98% of Lanai, has purchased the historic Hotel Lanai last month at an undisclosed price. The hotel consists of 10 rooms, a one-bedroom cottage and restaurant, Lanai City Grille. It was built in 1923 by James Dole for the Dole plantation executives and was the only hotel on Lanai until 1990. Ellison now owns every hotel room on the island.

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Peter B. Savio is President and Chief Executive Officer of the Savio Group of Companies. Peter has more than 40 years experience in real estate development and sales in the Hawaii market; he has been helping his clients realize the maximum return on their real estate investments since he founded Savio Realty Ltd. in 1980.


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