Friday, February 24, 2006
Timeshare At Hyatt Sought
Host Marriott Corp. is proposing to add a 12-story, 121-unit timeshare building and pool at the Hyatt Regency Maui Resort in Ka'anapali.
The Maryland-based company is getting ready to prepare a draft environmental impact statement for the project, which involves redeveloping a four-acre site — primarily a parking lot — adjacent to the 806-room Hyatt Regency hotel.
The cost of the timeshare construction is $110 million and is expected to take 20 months to complete, the company said in an EIS preparation notice filed with the Maui County Planning Department. It said the project's purpose is to "provide additional variety of accommodations at the Hyatt Resort in response to the demand of the existing vacation market."
The proposed project will have 97 two-bedroom and 24 three-bedroom timeshare units for transient vacation rental or ownership. Other proposed features of the building include a fitness facility and a convenience store, and a portion of the required parking and support facilities for the pool and outdoor function area will be in an underground level of the structure.
Proposed plans also include public beach-access parking and expanded guest parking, which may require demolishing and relocating existing tennis facilities.
Host Marriott, a real estate company separate from Marriott International Inc., owns the Hyatt Regency Maui Resort and Spa, which sits on 37 acres of oceanfront land on Ka'anapali Beach. Hyatt Vacation Ownership, Inc. will operate the proposed time-share project.
Host Marriott bought the Hyatt Regency Maui Resort and Spa for $321 million in 2003 from Blackstone Real Estate Advisors, a timeshare unit of buyout firm Blackstone Group LP. Host Marriott also owns the 450-room Fairmont Kea Lani Maui, which it bought in 2004 from Fairmont Hotels & Resorts Inc. for $355 million.
The deadline to submit public comments and suggestions on the scope of the upcoming draft environmental impact statement is Feb. 7. Comments should be addressed to Host Marriott & Subsidiaries, care of (consultant) Chris Hart & Partners Inc., with copies submitted to the Maui County Planning Department/Maui Planning Commission and the state Office of Environmental Quality Control. More timeshare real estate news.
The Maryland-based company is getting ready to prepare a draft environmental impact statement for the project, which involves redeveloping a four-acre site — primarily a parking lot — adjacent to the 806-room Hyatt Regency hotel.
The cost of the timeshare construction is $110 million and is expected to take 20 months to complete, the company said in an EIS preparation notice filed with the Maui County Planning Department. It said the project's purpose is to "provide additional variety of accommodations at the Hyatt Resort in response to the demand of the existing vacation market."
The proposed project will have 97 two-bedroom and 24 three-bedroom timeshare units for transient vacation rental or ownership. Other proposed features of the building include a fitness facility and a convenience store, and a portion of the required parking and support facilities for the pool and outdoor function area will be in an underground level of the structure.
Proposed plans also include public beach-access parking and expanded guest parking, which may require demolishing and relocating existing tennis facilities.
Host Marriott, a real estate company separate from Marriott International Inc., owns the Hyatt Regency Maui Resort and Spa, which sits on 37 acres of oceanfront land on Ka'anapali Beach. Hyatt Vacation Ownership, Inc. will operate the proposed time-share project.
Host Marriott bought the Hyatt Regency Maui Resort and Spa for $321 million in 2003 from Blackstone Real Estate Advisors, a timeshare unit of buyout firm Blackstone Group LP. Host Marriott also owns the 450-room Fairmont Kea Lani Maui, which it bought in 2004 from Fairmont Hotels & Resorts Inc. for $355 million.
The deadline to submit public comments and suggestions on the scope of the upcoming draft environmental impact statement is Feb. 7. Comments should be addressed to Host Marriott & Subsidiaries, care of (consultant) Chris Hart & Partners Inc., with copies submitted to the Maui County Planning Department/Maui Planning Commission and the state Office of Environmental Quality Control. More timeshare real estate news.
# posted by John @ 4:42 AM 
