HONOLULU (KHNL) - Two hotels in Waikiki will get a new look.
The hotels' parent company, Kyo-ya Hotels & Resort, announced plans to redevelop the Sheraton Princess Kaiulani and the Diamond Head Tower.
Plans for the 60-year-old Princess Kaiulani include removing the 12-story Princess and Kaiulani Towers, the retail structures along Kalakaua Avenue and the parking structure.
The new 24-story Diamond Head Tower will include about 200 hotel suites and 25 residential units. The structure will replace the Moana Surfrider's existing Diamond Head Tower, built in 1952.
Kyo-ya executive vice president Gred Dickhens says at a time when Hawaii's visitor industry faces great challenges, the new developments will infuse more money into Oahu's economy.
"Kyo-ya has a proud history, having been in Hawaii for over 40 years, and we are committed to doing our part to ensure that Waikiki remains one of the world's most desirable destinations," said Dickhens.