Bankruptcy judge to consider bids for Hilo hotel - Hawaii News Now - KGMB and KHNL

Bankruptcy judge to consider bids for Hilo hotel

HILO, Hawaii (AP) - Three bids have been submitted for the bankrupt Hilo hotel, Naniloa Volcanoes Resort.

The Hawaii Tribune-Herald reported Tuesday two of the bids meet qualifications.

Bankruptcy trustee David Farmer says a federal bankruptcy judge will consider a motion to sell the hotel on Nov. 6.

The top qualifying bid will be up for consideration at the hearing, but Farmer said other bids will also be accepted. This will give other potential buyers a chance to make a better offer.

Hawaii Outdoor Tours Inc. defaulted on a $10 million loan it used to buy the hotel. The resort went into foreclosure last year.

Hawaii County has cited the hotel for about two dozen building code violations. One wing remains closed after being gutted during previous renovations. The kitchen is also closed.

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