Ritz Carlton Developments in Hawaii to Feature Large Residential Components

The Ritz Carlton Hotel Co. is fortifying its presence in Hawaii with three hotel developments currently underway that contain significant wholly-owned and fractional ownership components. The company recently completed a complete $160 million renovation at its Ritz-Carlton Kapalua, including a full-ownership component. Also, its nearby property on Kapalua Bay is being readied to open next year, offering private and fractional ownership residences. And on Kauai, Ritz-Carlton Residences and fractional Ritz-Carlton Club residences are being built on a costal bluff at the Kauai Lagoons resort. The Ritz-Carlton Kapalua reopened in January following a $160 million renovation. The hotel’s 463 guestrooms, six restaurants, lobby, fitness center and meeting space, have been completely remodeled. The Waihu Ritz-Carlton Spa is scheduled to open in mid-June, with outdoor shower gardens, a couples’ relaxation lounge and spa treatments. In addition, 107 one-and-two bedroom private ownership Residential Suites are being introduced. Nearby, The Ritz-Carlton Club Kapalua Bay will offer fractional property ownership, sold in one-twelfth interests. The property will include 62 fully furnished two-and-three bedroom residences, ranging from 1,912 to 2,257 square feet. The property is scheduled to open in April 2009. To open in early 2009, the Ritz-Carlton Residences, Kauai Lagoons will offer two, three and four bedroom units, that will range from 2,519 to 3,452 square feet. Two other Ritz-Carlton offerings will begin to be built at Kauai Lagoons this year. An additional town home design of The Ritz Carlton Residences will also feature 46 three-and-four bedroom floor plans, while 72 smaller two-and three-bedroom floor plans will also be offered and sold in deeded fractional interests.