Hot Rates at the Waikiki Edition, the New Ian Schrager Hotel

There's been a lot of buzz about the Waikiki Edition, Ian Schrager's new hotel on the beach. Outdoor movie theater, food by Iron Chef champ Masaharu Morimoto, a happening bar scene, Yoga classes, bikini boot camp... This hot spot has it all. (We can hardly wait for other Edition brand hotels to pop up in Istanbul, Mexico City, Barcelona and Bangkok.) Hot deals: TravelZoo is reporting that the Waikiki Edition has lowered rates from $445 to $295 per night through August 2. Plus you'll get a $50 resort credit with your plush oceanview accommodations. (Not available from April 9-15; May 14-18). Hurry, you must book by March 11, 2011!