Marriott plans Marriott International Inc., which is redeveloping the Maui Marriott into a time-share project, plans to build two additional 10-story towers at the Kaanapali Beach property for an estimated $100 million.
2 towers
Its Kaanapali resort will
get $100 million in new
construction in 2005Star-Bulletin Staff
Construction would begin in 2005, after Marriott finishes converting 391 guest rooms in the existing hotel to 312 time-share villas, said Stan Brown, vice president of Pacific Islands for Marriott.
Marriott is still reviewing the final mix of rooms at the property, he said.
The Maui Marriott was originally built as a 720-room hotel in 1979.
Sales of Hawaii time-share units have exceeded expectations, Brown said, prompting Marriott to make a major investment. The firm bought the property out of foreclosure for more than $145 million in 1998.
Marriott is also spending $300 million on a 750-unit time-share project at Ko Olina in West Oahu. On Kauai, the company is building the 231-unit Kauai Waiohai Beach Club, in addition to its 232-unit Kauai Beach Club near Lihue.
Other major hotel firms have found a tasty market for time-shares in Hawaii.
Starwood Vacation Ownership Inc. is building the time-share Westin Kaanapali Ocean Resort Villas on Maui, and earlier this year increased the size of the project's first phase. Starwood is also proceeding with a luxury time-share project on 18.5 acres on Kauai.
Fairfield Resorts Inc. purchased its first Hawaii time-share properties this year on the Big Island, and is selling packages through a joint venture with Outrigger Hotels & Resorts.
Hilton Hotels Corp. plans to build a 350-unit $80 million time-share tower at Hilton Hawaiian Village in Waikiki, in addition to its time-share Lagoon Tower.