In 2012, Oracle billionaire Larry Ellison purchased 98% of the Hawaiian island of Lanai with the plan to turn it into a model for sustainable living. Since then, he has been responsible for a majority of the real estate purchases that have gone down on the island, including the island’s two Four Seasons resorts and 21 residential properties nearby.
Now he’s added yet another hotel property to his portfolio. According to Pacific Business News, Ellison has purchased the Hotel Lanai, a classic Hawaiian lodge built by pineapple king James Dole in 1923.
Originally built to house Dole Plantation executives, it was the only hotel on Lanai until 1990.
The tiny hotel only has 10 rooms, all furnished with classic Hawaiian decor.
There’s also an adorable cottage in the back, with an additional guest room.
The property is charming, with many options for relaxing.
The hotel also has a 90-seat restaurant called the Lanai City Grille.
The restaurant is well-regarded in Lanai City, but business has slowed in recent years. There’s been plenty of construction all over Lanai since Ellison purchased the island in 2012, but it hasn’t led to a bump in visitors.
“We loved our little business, but it just became so hard to survive,” hotel owner Mary Charles said to Pacific Business News. “Hotel occupancy for us was great, and in the 90 per cent range, but the restaurant business, which is dependent upon the tourism trade, suffered.”
Only time will tell what Ellison plans to do with the hotel.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.