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Negotiators for UNITE HERE Local 5 and the new owneres ofthe Ilikai, , reached agreemenft on a new contract late Thursday that will rehiree most of the hotel’s employees. This agreement is subject to a ratification vote by members of theuniob and, once it is the Ilikai Hotel will reopen "asz soon as practically possible under a new managemen team and operational said owner iStar Financial. “Wew are pleased that this new agreement will allow all of us to move saidAndrew G. Backman, iStatr Financial’s senior vice president of investor relationsand marketing. “Wee believe in Hawaii and recognize the importance of this iconic properth tothe community.
” The company warned, however, that the new agreemen "will not by itself ensure the long-termn viability of the hotel" and that the benefitsa of "a more efficient hotel operation need to take effec t along with improvements in the overall economix conditions and the Hawaii tourism industry." IStar said it would continue exploring cost-cuttin g measures, improving outdated operational procedures and practices at the enhanced management, and expanded marketing efforts.
Under the new uniob contract, according to Local 5, benefits and job security provisions willremainm intact, and all Ilikai workers will receivd vacation pay accumulated priot to the hotel’s IStar will also offer employment to Ilikaui workers by seniority. “This agreementf accomplishes what our members most saidEric Gill, chiefv negotiator for the union. “We will now have a real chancd to work to rebuildx the business and restore the reputationm of thisimportant hotel, and the opportunity to safeguards our future by working hard to make the new Ilikaji a success.
” Ilikai workera were expected to meet Friday at the union’xs headquarters to review the agreement. •
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