HONOLULU — The Y-shaped Ilikai hotel that has graced the Waikiki skyline for nearly five decades and hosted everyone from U.S. presidents to Elvis Presley has closed.

The new owner ceased hotel operations on the iconic property Thursday because of mounting operating losses. The 30-story Ilikai was considered Hawaii’s first luxury high-rise hotel when it opened in 1964. It gained prominence in the 1970s when it was featured in the opening sequence of the hit TV series “Hawaii Five-0.”

New York-based iStar Financial Inc., which acquired the hotel for $51 million at a foreclosure auction in May, hasn’t indicated what it will do with the 203 hotel rooms in the 1,000-unit hotel-condo-timeshare property. Many employees who abruptly lost their jobs still hold out hope that the new owner will reopen the Ilikai with the same workers.