Sale of Kona Village Resort Wraps

The new owners of Kona Village Resort, just north of Kailua-Kona on the Big Island, are considering plans to refurbish the upscale 125-bungalow property. The purchase is a joint venture between affiliates of MSD Capital, the private investment firm for Michael Dell, of Dell Computers and Rockpoint Group, a global investment management firm. Terms of the sale were not disclosed, but former owner Ty Warner Hotels and Resorts will retain an economic interest in the 82-acre property. MSD Capital and Rockpoint Group purchased the neighboring 865-acre Hualalai Resort in June 2006. Elements of that resort include the Four Seasons Resort Hualalai, a golf course and a residential resort community. Meanwhile, the new owners have retained all Kona Village employees. Its general manager, Ulrich Krauer, says the property's heritage will be preserved and enhanced. Visit [www.konavillageresort.com].

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