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Longtime Honolulu-based hotel and resort management company Marc Resorts Hawaii shut down earlier this week due to challenges created by the weak economy. The web site for the Honolulu-based firm was deactivated and some 40 employees were let go.
Marc Resorts had been trimming its inventory in recent months. Just before folding, it was managing the Molokai Shores on Molokai; and on Kauai, the Pono Kai in Kapaa and Pali Ke Kua, Puu Poa and Hale Moi Cottages in Princeville. Local sources reported that Castle Resorts and Hotels is taking over the Molokai Shores.
A Marc Resorts spokesperson said that people holding existing reservations have been notified about the change and will receive refunds.