Business / In Brief • June 19, 2013

General excise tax revenue up 10 percent

HONOLULU – The state Department of Taxation says Hawaii general excise tax revenue rose nearly 10 percent during the first 11 months of the current fiscal year.

The department said Friday the state had $2.7 billion in general excise tax receipts from July 2012 through the end of May. That compares to $2.5 billion for the same 11 months the previous fiscal year.

The tax on hotel rooms and other short-term accommodations brought in $339 million during the period, up 13 percent from the previous fiscal year.

Individual income tax receipts rose 14 percent.


RLJ Lodging Trust acquires Waikiki hotel

HONOLULU – A major Honolulu hotel has been sold.

The Honolulu Star-Advertiser reports Maryland-based RLJ Lodging Trust has acquired the long-term leasehold interest in the 399-room Courtyard by Marriott Waikiki Beach hotel for $75.3 million.

RLJ Lodging Trust says in an announcement that the deal was made using cash on its balance sheet.

The company says it has 149 properties including 148 hotels with more than 22,300 rooms in 22 states and the District of Columbia.