Here’s The Wall Street Journal’s take on Oracle CEO Larry Ellison’s impending purchase of Lanai.
A major issue is turning the island’s economy around — something that Ellison appears poised to do by adding new jobs and pouring in new money to reinvigorate the local tourism industry:
Local residents cite challenges that include limited air service to the island and a lack of nightlife to entertain tourists, though golf and outdoor activities there are highly regarded.
Among the potential options are building more homes to sell, adding rooms to the two Four Seasons resorts on the island or building a third resort, said Joseph Toy, president of Hospitality Advisors LLC, a Honolulu-based consulting firm specializing in the hotel and tourism markets.
“It remains to be seen whether Mr. Ellison will be pursuing that line,” Mr. Toy said. “He does have a lot of options.”