Makena Resort Sale Set to Close in March

Seibu Group is selling its 1,800-acre Makena Resort, which includes the Maui Prince Hotel, two golf courses and about 1,300 acres of undeveloped land. Buying the oceanfront resort are Trinity Investments, Dowling Co. and Morgan Stanley Real Estate. Trinity is a luxury hotel operator in the islands that currently owns and operates the Kahala Hotel on Oahu and also is known for its development and operation of the Fairmont Kea Lani Maui. Dowling Co. is a Maui developer. The sale is scheduled to close on March 27 and Prince will continue to operate the hotel and take reservations until the purchase closes. Seibu announced last fall that it was seeking a buyer for the master-planned Maui resort. Seibu Group owns three other hotels in Hawaii that are operated by Prince Resorts Hawaii—the Hawaii Prince Hotel Waikiki, the Hapuna Beach Prince Hotel on the Big Island, and the Mauna Kea Beach Hotel, also on the Big Island. The latter hotel is temporarily closed for renovations following last fall's earthquake. Prince says none of the other hotels are for sale and will continue to be operated by Prince.

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