When you're a billionaire

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Posted: Aug 1, 2014 7:50 PM by Michael Marsh
Updated: Aug 1, 2014 7:50 PM
Source: Associated Press

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Topics: Larry Ellison, Hotel Lanai, sale

LANAI CITY, HAWAII- Billionaire Larry Ellison, the CEO of Oracle Corp. now owns every hotel room on the island of Lanai in Hawaii.

He just bought the historic Hotel Lanai that was built in 1923 to cater to Dole Plantation executives.

His company would not disclose the sale price.

Ellison bought 98 percent of Lanai in 2012, which included the other two hotels on the island.

Hotel Lanai is less expensive than the two upscale resorts and the former owner says the 28 employees will remain with the 10-room hotel.

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