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Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, February 7, 2001

Hyatt Regency deal to be done by spring

Hyatt Hotels Corp. confirmed today that it is partnering with private merchant bank Blackstone Group to buy the 806-room Hyatt Regency Maui Resort from a subsidiary of Japan's Kokusai Jidosha.

The companies yesterday signed a deal that should close in early spring, Hyatt said. The sale price was not disclosed, but sources familiar with the acquisition say it is about $200 million. The purchase includes 40 acres of beachfront property on Maui's Kaanapali Beach. The Hyatt Regency is Maui's largest hotel, employing about 1,000 workers.

Hilton lines up Waikiki partners

The Hilton Hawaiian Village said it has formed alliances with Mandara Spa, Holistica Hawaii Health Center and the Bishop Museum, all of which will have facilities in the $95 million Kalia Tower, due to open on the hotel's 22-acre Waikiki property in May.

Mandara, which last year moved its global headquarters to Honolulu, will have a 42,000-square-foot spa in the new tower.

In its marketing, the hotel will describe itself as the "Hilton Hawaiian Village Beach Resort & Spa," although the name of the hotel will not change, said a spokeswoman, Bernie Caalim-Polanzi. The hotel has been calling itself the "Hilton Hawaiian Village on Waikiki's Best Beach."