Princeville Purchased By Hawaii Partnership(1)

Hawaii management team to guide resort’s future

By: Dawna Robertson

It’s a done deal. And the future is looking bright. Princeville Associates, a joint venture company led by resort developer Jeffrey R. Stone, has purchased the 9,000-acre Princeville Resort on the island of Kauai. The acquisition includes the 252-room Princeville Hotel, two Robert Trent Jones Jr.-designed championship golf courses, the Princeville Tennis Club and Pro Shop, Princeville Health Club and Spa, Princeville Shopping Center, Princeville Airport and other land holdings on Kauai’s picturesque North Shore.

Also a key player in Oahu’s Ko Olina Resort development, Stone is focusing on the residential community as well as the visitor market. “We’re glad to be part of the Princeville family,” he stated. “This resort is a true reflection of Kauai’s hospitality and lifestyle.”

Upon completing construction of new apartments for resort employees and receiving plan approval, the new owners will initiate a multi-million dollar renovation of the Princeville Hotel. “We look forward to restoring this one-of-a-kind property, a North Shore icon for so many years, to the grandeur it enjoyed in the past,” Stone remarked. Starwood will continue to manage the Princeville property under its Luxury Collection, and will retain all employees.

“The Princeville Corporation is to be applauded for its commitment throughout the years,” Stone emphasized. “We also acknowledge the loyalty of the Princeville employees and will continue to support all existing programs.”

Set on a bluff overlooking Hanalei Bay, the Princeville Hotel features 252 guestrooms and suites, three restaurants and access to Princeville Resort’s two golf courses, and its tennis and health club facilities. Priced from $465 per night, based on double occupancy, The Prince Vacation Package offers a 50% discount on standard golf rates at the Prince or Makai courses, full buffet breakfast at Café Hanalei for two and complimentary shuttle transportation to select area attractions. The package is available though December 25, 2005.