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Thursday, November 20, 2008
Sale of Maui Lu under debate

The Maui News - The global credit crisis has struck Maui again, putting into question the sale and redevelopment of the Aston Maui Lu in Kihei. The Maui Lu had been scheduled to close Monday, Nov. 10, for a three-year overhaul, laying off 41 employees. But an attorney representing landowner 575 South Kihei Road LLC said the aging hotel will remain open indefinitely while the financing of the sale to Marriott Ownership Resorts is worked out. “Right now the sale of the hotel is an open question,” said attorney Paul Mancini. The Maui Planning Commission had been scheduled to hear a request to transfer a special management area permit for redevelopment of the property from landowner Genesee Capital, a partner in the limited liability company, to Marriott. But the commission postponed the hearing to Jan. 13 after receiving an email request from Marriott Vacation Club Senior Vice President Donald Baarman requesting a deferral. Baarman said Marriott is still in “active discussions” related to the purchase of the hotel, citing the tightening U.S. financial market. Mancini said he expected questions about the sale and redevelopment would be resolved by the commission’s Jan. 13 hearing.

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