New Ownership for Maui's Makena Resort

Maui Lokelani Resort Corp. and Maui Prince Hotel announced that the sale of Makena Resort to Morgan Stanley Real Estate and Dowling Company closed this week, for $575 million. As part of the agreement, Prince Resorts Hawaii will continue to operate the resort for an interim period until a new management company is appointed. Dowling Company, Inc., a Maui-based real estate development firm, is Hawaii's leading developer of environmentally sustainable projects. On Maui's southwest coastline, the 1,800-acre master-planned Makena Resort includes the 310-room beachfront Maui Prince Hotel, two 18-hole Robert Trent Jones, Jr.-designed golf courses, and approximately 1,300 acres of undeveloped land.

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