Maui, Hawaii, July 25, 2000 - Jones Lang LaSalle
Hotels has been selected to market the Four Seasons Resort Maui at Wailea
on behalf of SCP (Maui 5), Inc., the owner and developer. The resort
is a world-class, luxury property containing 380 guestrooms, of which 75
are luxury suites.
"This is the ultimate trophy property. Many consider it to be the best
hotel in Hawaii, so we expect the resort to be highly sought after," said
Arthur Buser, Executive Vice President of Jones Lang LaSalle Hotels, Los
Angeles. "Maui is an area with extremely high barriers to entry.
There is neither new supply planned, nor is there land available that is
properly zoned for building new hotel properties."
"The combination of superior facilities and an excellent market makes
this a highly desirable investment," added Arthur Adler, Managing Director,
Americas, of Jones Lang LaSalle Hotels. "Maui continues to dominate as
one of the most exclusive, tropical, year-round resort markets in the world,
and the new owner will be able to capitalize on Wailea's status as the
most popular retail and restaurant destination on the Island."
"Four Seasons, which has managed the Four Seasons Maui at Wailea since
its opening, specifically selected this property as its first resort property,"
stated Buser. "Four Seasons Hotels have won more AAA Five Diamond Awards
than any other hotel company for the 19th consecutive year, with 18 hotels
receiving this coveted accolade. There is no better brand for this hotel
than the Four Seasons, the finest luxury chain operator in the world.
Four Seasons drives both revenues and the value of the hotel through its
large number of loyal customers worldwide."
The Four Seasons Resort Maui opened in 1990 and is located directly
on the beach with beautiful ocean views. It features three restaurants;
24,000 square feet of meeting and function space; a 7,000-square-foot ballroom;
two full-size pools with fountains and a lagoon pool with a waterfall and
slide.
"There may be residential and spa development opportunities as well
as other prospects to generate extra revenue from the property," included
Adler. "Nearby vacant land is ideal for residential development. With the
tremendous interest in Maui as a second home for mainlanders, residential
properties providing Four Seasons services would be very popular."
California tourists comprise 25% of the visitation to Maui, and the
booming California economy should enable this trend to continue.
Additionally, eastbound travel from Japan is expected to increase as a
result of their recovering economy.
"Condé Nast has consistently rated the Island of Maui, the Wailea
Resort, and particularly the Four Seasons Resort as top destination selections
for its readers," said Buser. The Four Seasons Resort Maui at Wailea
has been awarded the Five Diamond Award for eight consecutive years.
Jones
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