Mark Bratton of Colliers International represented the court appointed Trustee in the bankruptcy sale of the oceanfront Naniloa Volcanoes Resort in Hilo, Hawaii. After only one month of active marketing, the property received multiple bids and was later taken to a court ordered confirmation hearing. At the subsequent overbid hearing, we received additional bids which led to the sale of this oceanfront property. The final bid was 49% higher than the original bid price.
The resort was sold to WHR LLC, a partnership between Ed Bushor, the marine artist Wyland, and major Hawaii land owner Ed Olson. The Buyer plans to spend $20 million in renovations to this 333-room hotel and turn it into an environmentally-conscious, artsy boutique hotel.