Hyatt Plans $40M Residence Property on Ka’anapali Beach
By Maui Now Staff
Hyatt plans to develop and operate a 131-unit “Residence Club” resort on Ka’anapali Beach, which is expected to open in 2014.
While the units are intended to be vacation ownerships, the company has not yet revealed what the unit prices or ongoing fees will be.
The 131 units will consist of 19 one-bedroom units, 100 two-bedroom units, and 12 three-bedroom units.
Additional features will include an 8,000 sq ft open-air lobby, a retail store, a 75-seat casual dining restaurant, a pool with a pool bar and a multi-level pool deck, and a 3,300 sq ft fitness center. Hyatt Ka’anapali Beach, a Hyatt Residence Club will be located near Hyatt Regency Maui, the 806-room destination resort surrounded by 40 acres of beachfront landscape.
The company says that an affiliate of Hyatt has formed a joint venture with an affiliate of Host Hotels & Resorts in order to execute the plan. A Hyatt affiliate will invest approximately $40 million in the vacation ownership property. It will be the first Residence Club in Hawaii, joining 15 others throughout US territories, according to Hyatt.
Hyatt Residence Club members are automatically entitled to all the privileges of membership in the Hyatt Gold Passport frequent guest program, as well as access to the Interval International network of more than 2,600 resorts worldwide. Points earned at Hyatt Residence Club properties are also accepted at all Hyatt-branded hotels worldwide. Additionally, members of the Hyatt Residence Club can convert their ownership to points and stay at any location in the Hyatt Residence Club system.