LIHUE — Discovery Land Company, which operates Montana’s private Yellowstone Club ski resort and several private resort communities, including Makena on Maui and Kuki‘o on Big Island, has been selected to manage the development of Princeville Resort in Hanalei.
Discovery will also assume management of the Prince Golf Course, effective Jan. 1, according to a release.
Sources speaking on the condition of anonymity have told The Garden Island that the new management is planning to close the course temporarily and renovate the property. A spokesperson at The Resort Group said he could not comment on the matter Thursday.
In September, Princeville Resort was acquired through a partnership between Hawaii landowner and developer The Resort Group and Reighwood International, owned by billionaire Thai-Chinese businessman Chanchai Ruayrungruang. The 1,103-acre purchase came at a reported price tag of $343 million.
Discovery is a privately held, full-service real estate development company based in Scottsdale, Arizona, and specializes in luxury residential private club communities and resorts throughout North America, according to a release. Founded in 1994 by Michael S. Meldman, it has evolved into a premier developer in the luxury resort residential sector, with 18 projects around the country.
“Discovery Land Company brings a wealth of experience in designing and managing high-end residential club communities, golf courses and resorts to Princeville,” Jeffrey R. Stone, founder of The Resort Group, said in a statement. “They share our deep respect for the natural beauty and traditions of the Princeville lands, as well as our vision for sustainable, long-term development that will bring lasting economic benefits to our local ohana and our island community.”
Under a long-term management agreement, Discovery will help oversee Princeville’s master development plan, as well as construction, marketing and private club community operations, according to a release.
“The Princeville lands are truly sacred, and we intend to develop them in a way that pays homage to their purity,” Meldman said. “We are fortunate to be in partnership with The Resort Group and Reignwood, both of whom share our strong belief that responsible development draws inspiration from the environment and local customs of the property’s location.”
The extensively renovated championship golf course, designed by Robert Trent Jones, Jr., has been named by Golf Digest as the No. 1 Golf Course in Hawaii.