KAPALUA, Hawaii – Jan. 14, 2005 – Kapalua Bay, LLC, a partnership of Maui Land & Pineapple Company, Inc. (AMEX:MLP), Marriott International and Exclusive Resorts, LLC, has announced that it will redevelop the Kapalua Bay Hotel and neighboring Kapalua Shops property beginning in the spring of 2006.
Kapalua Bay, LLC voluntarily filed an environmental impact statement preparation notice with the State Office of Environmental Quality Control yesterday to assess the project's impacts on the environment and the surrounding community.
The Kapalua Bay Hotel, currently operated by Marriott's Renaissance brand, is at the center of ML&P's redevelopment plans for the revitalization of the Kapalua Resort. The 196-room hotel is planned to be razed in the spring of 2006, making way for a new destination property that will have both transient and residential units including The Ritz-Carlton Club fractional ownership, condominium residences, an oceanside spa and a beach club.
The design is still underway, however, the new buildings will be set back further from the coastline than the existing buildings to enhance shoreline access and a shoreline trail will be created and connected to Kapalua's expanding trail system. "Kapalua Resort is undergoing a significant transformation as we reposition the destination at the pinnacle of the Hawaiian hospitality industry. Our partnership's redevelopment of the Kapalua Bay Hotel is critical to the resort's successful revitalization," said David C. Cole, Chairman, President & CEO of ML&P.
"We will create a unique experience at Kapalua Resort through the Bay Hotel redevelopment, the creation of Hawai`i's first destination health and wellness village, in partnership with Miraval, Life In Balance, and the enhancement of the resort's golf, retail and restaurant experiences."
The new facilities and expanded amenities at Kapalua Resort are expected to create hundreds of additional job opportunities, although there will be a temporary reduction in opportunities resulting from the closing of the Kapalua Bay Hotel during the redevelopment period. Kapalua Bay, LLC will do its best to coordinate job placement within the Kapalua Resort community or secure employment elsewhere during the redevelopment.
"We value each of our associates and understand that the temporary changes may be challenging. We are looking at opportunities for associates to transfer to positions within the resort community and to other Marriott facilities, once the redevelopment commences," said Stan Brown, V.P. Pacific Islands & Japan for Marriott International.
The Kapalua Bay Hotel will continue to provide quality accommodations and hospitality through investment in its employees and the upkeep of the property until redevelopment begins in the spring of 2006. The remainder of the Kapalua Resort community, including the 548-room Ritz-Carlton, Kapalua, will continue to provide its award-winning hospitality without interruption from the redevelopment, which is expected to be completed in the spring of 2008.
Maui Land & Pineapple Company, Inc., a Hawai`i corporation and the successor to a business organized in 1909, owns approximately 29,000 acres on Maui. Its primary operations presently include cultivating, processing and distributing Maui-grown pineapple, operating the Kapalua Resort, and creating and managing holistic communities on Maui.
The master-planned Kapalua Resort, a destination resort in West Maui, encompasses three beaches, 54-holes of award-winning golf, the 548-room Ritz-Carlton, Kapalua, the 196-room Kapalua Bay Hotel and the 292-unit Kapalua Villas. The resort hosts the annual Mercedes Championships, Celebration of the Arts, Kapalua Wine and Food Festival and LifeFest Kapalua.
For more information please visit www.mauiland.com.
Contacts:
Maui Land & Pineapple Company, Inc.
David C. Cole, 808-877-3861
or
Marriott International
Stan Brown, 808-792-8882
