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W. DAVID P. CAREY III
President and CEO, Outrigger Enterprises Group
Carey oversees an empire of 35 hotel operations in the Pacific and Asia, with more coming soon. He has an undergraduate degree in electrical engineering from Stanford University, plus a law degree and an MBA from Santa Clara University. He joined Outrigger in 1986.
HOW STRONG IS THE TOURISM TURNAROUND? It's extraordinarily strong, at least for Oahu. The velocity isn't as significant on the Neighbor Islands, with the Big Island not getting traction yet.
The bounce back is being driven by a lot of factors and some is product. The Oahu product is in the best shape in the 30 years I've been here. We did the Waikiki Beach Walk development and that was a catalyst for change and several others followed up and down the strip. The place looks great.
There's also been an upsurge in a more activity-oriented tourist. There are now 1,200 to 3,000 people a day hiking on Diamond Head. They want event opportunities and more opportunities for dining.
By the way, food and beverage has seen a great turnaround. We took a gamble with Beach Walk in having 50 percent in restaurants and it's paying off. There's a food and beverage renaissance, especially in Waikiki.
WHAT ARE THE ISSUES WE HAVE TO BE AWARE OF TO KEEP...