View this article online: https://www.insurancejournal.com/news/west/2012/07/09/254840.htm
There’s a settlement in a bitter battle over a Waikiki hotel that had resulted in a takeover and a federal lawsuit.
The Honolulu Star-Advertiser reported the owner of The Modern Honolulu hotel will pay the trendy hotel’s former operator, Marriott International, an undisclosed sum. Marriott has agreed to drop its lawsuit and to withdraw opposition to a Chapter 11 reorganization plan.
Marriott had claimed the takeover of the Waikiki Edition by Aqua Hotels damaged Marriott’s reputation and cost the company millions. Marriott claimed Aqua executives signed in as fake hotel guests to prepare for last year’s takeover, which changed the hotel’s name to the Modern.
When a judge ordered management returned to Marriott, Modern owner M Waikiki blocked the move by filing for bankruptcy.