September 10, 2007
Kauai Lagoons’ Vision Advances As Development Takes Shape
LIHUE, Kauai – September 10, 2007 – The planned rebirth of Kauai Lagoons is taking shape at the 520-acre oceanfront property, with the first two residential offerings proceeding as planned. The first offering is now branded under the Marriott name and will commence site work later this month, while the second offering is under construction to create the new Ritz-Carlton Residences.
The previously named Kalanipu‘u condominiums is now branded Grand Residences by Marriott. These 78 fully furnished residences will offer two- and three-bedroom floor plans ranging from 1,301-1,665 square feet. Reservations are currently being accepted.
Demolition of the former Inn on the Cliffs is nearly complete and construction of The Ritz-Carlton Residences, Kauai Lagoons will begin in the next few months. These 14 luxurious, one- and two-story private ownership residences will offer two-, three- and four-bedroom floor plans ranging from 2,519-3,452 square feet.
The branding of Kalanipu‘u is in step with Marriott Ownership Resorts, Inc., a subsidiary of Marriott International, Inc., acquiring the remaining residential real estate interests of the property. Marriott and its Ritz-Carlton Hotel Company affiliate are putting into motion the vision for this multi-faceted resort established by developer, Kevin Showe, now a consultant for the project.
“Kauai Lagoons is progressing very well,” said Showe. “I am very passionate about this project, and am pleased to be working with Marriott to fulfill our development plans. With Marriott and Ritz-Carlton’s management expertise, the island of Kauai has much to look forward to.”
“We’re implementing a wonderful vision for Kauai Lagoons and are very thankful for the support we’ve received from the community as we move forward with these plans,” said Brad Snyder, Kauai Lagoons’ newly appointed general manager of operations. “Kauai Lagoons is being thoughtfully planned and developed, and the result will be the enhancement of an incredibly beautiful part of our island.”
When fully developed, Kauai Lagoons will offer an impressive selection of residential offerings, including private ownership residences managed by The Ritz-Carlton and Grand Residences by Marriott; Ritz-Carlton Club deeded, fractional ownership residences; Marriott Vacation Club timeshare villas; and private estate lots.
In keeping with the character of Kauai Lagoons’ lushly landscaped property, approximately 350 acres, including the golf courses, will remain as undeveloped “green” space.
Golf legend Jack Nicklaus is redesigning Kauai Lagoons’ award-winning Kiele Golf Course to provide four consecutive oceanfront holes overlooking the Kauai coastline. Kauai Lagoons’ future also includes a restaurant with fabulous ocean and golf course views, a marina to service the existing 38-acre man-made lagoon, and full-service spa and fitness center.
As part of the overall development, two affordable housing projects are being constructed for Kauai residents. At Waipouli, 82 one-, two-, and three-bedroom rental apartments are being built for qualifying families, while at Kauai Lagoons, 31 two-bedroom multi-family condominiums will be available for sale to first-time homebuyers.
Additionally, as a benefit to the Kauai community, a two-mile public pathway will be created within Kauai Lagoons for walking, running, and biking. The public pathway also connects to the shoreline public access for fishing, picnicking and hiking.
MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading lodging company with nearly 2,900 lodging properties in the United States and 68 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, Horizons by Marriott Vacation Club, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Md., and had approximately 151,000 employees at 2006 year-end. It is ranked as the lodging industry’s most admired company and one of the best places to work for by FORTUNE®. The company is also a 2006 U.S. Environmental Protection Agency (EPA) ENERGY STAR® Partner. In fiscal year 2006, Marriott International reported sales from continuing operations of $12.2 billion. For more information or reservations, please visit our web site at www.marriott.com. |
