Marriott International, Inc. has been appointed as the manager of the property. The nearby Ko Olina Golf Club, owned by Pan Pacific Hoteliers (PPH), a subsidiary of JAL, will be sold as part of the same agreement, which also specifies that Marriott will manage the properties as well. The sale is part of JAL�s financial restructuring of its investment portfolio. 

�We have been privileged to have managed the Ihilani Resort & Spa and Ko Olana Golf Club and to introduce its guests to the unequalled level of service they�ve come to expect at Nikko Hotels around the world,� said Akira O�Sawa, President, Hotel Nikko (U.S.A.) Inc. �The hotel�s AAA Five Diamond rating shows that our efforts were widely acknowledged and appreciated.� 

Nikko Hotels began managing the Ihilani Resort & Spa in January 1998. According to Mr. O�Sawa, �We are working closely with our counterparts at Marriott to ensure that the management transition is seamless and completely invisible to the hotel�s guests. Moreover, we are actively seeking to manage another first rate hotel in Hawaii, given that we currently manage The Ilikai in Oahu, which is also a major hub for JAL.� 

In addition to Hawaii, Nikko Hotels is currently reviewing management contract acquisition possibilities in various North American markets, including New York City, Los Angeles, Atlanta and Washington, as well as Chicago and Vancouver. The chain recently retained Joseph Supsinskas, a hotel chain development consultant, to identify sites in key cities and throughout North America, especially the West Coast, for suitable management contracts to expand the hotel chain. 

In keeping with its growth strategy, Nikko Hotels recently expanded its chain with the addition of the Hotel Nikko Toyohashi, which opened on October 1, 1999 and is located halfway between Tokyo and Osaka in Japan. The chain also announced plans to open a hotel in India, which represents the first Japanese-managed hotel foray into South Asia. 

Nikko Hotels International is an international luxury hotel chain owned and operated by JAL Hotels Company, Ltd., a subsidiary of Japan Airlines, headquartered in Tokyo, Japan. Nikko Hotels International has 45 hotels worldwide, in Europe, North America and throughout the Asia/Pacific region. In addition to Nikko Hotels International, JAL Hotels Company, Ltd. also operates JAL City Hotels, a chain of mid-priced hotels for business travelers in Japan, as well as independent hotel properties.