The Ritz-Carlton, Kapalua Resort was sold to a partnership between Michael Rosenfeld's Woodridge Capital Partners LLC and Colony Capital, LLC and its affiliates including Colony Financial.
The AAA Five-Diamond Ritz-Carlton, Kapalua is a stunning destination resort on the Island of Maui, which was again voted "Best Island in the World" by Conde Nast Traveler for the 19th consecutive year. The property is situated on 54 oceanfront acres, within the world famous Kapalua Resort renowned for its two championship golf courses and award-winning restaurants. The new owners intend to make further investment to enhance the resort which will continue to be operated by The Ritz-Carlton Hotel Company, L.L.C.
"The combination of The Ritz-Carlton brand, a welcoming and nurturing Hawaiian culture and the nature and magic of Maui will make an unbeatable combination," stated Thomas J. Barrack, Jr., Chairman and CEO of Colony Capital.
The luxury resort features 463 guestrooms, including 107 residential suites, with expansive pools overlooking the dramatic Maui coastline and the Island of Molokai. The resort was built in 1992 and underwent a $190 million renovation in 2007 including the introduction of The Ritz-Carlton residences. The property offers three in-hotel restaurants and a lounge complemented by a pool bar and café and an outdoor restaurant, The Beach House, that sits adjacent to neighboring D.T. Fleming beach, is considered one of the finest in the United States.
"We have great respect for the traditions of the islands," said Rosenfeld. "With its special character, remarkable location and precious natural resources, The Ritz-Carlton, Kapalua is a rare property that would be nearly impossible to duplicate today."
The resort's spacious rooms and suites, all with lanais, and 207,000 square feet of meeting space, including 35,000 square feet of indoor meeting space and 172,000 square feet of outdoor space, make it a premier venue for luxury events and corporate meetings in Hawaii. A large spa, fitness center, tennis facilities and 4,600 square feet of retail and convenience shops complete the resort.
A unique aspect of The Ritz-Carlton, Kapalua is Jean-Michel Cousteau's Ambassadors of the Environment program offering an environmental and cultural education center.
Acquisition financing was provided by Deutsche Bank.
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