Representatives of Starwood Vacation Ownership Inc., managers of the Sheraton Kauai Resort in Po‘ipu, are looking at buying additional Southshore property adjacent to the hotel, with the intent of building a new timeshare property. Following the success of its first
Representatives of Starwood Vacation Ownership Inc., managers of the Sheraton Kauai Resort in Po‘ipu, are looking at buying additional Southshore property adjacent to the hotel, with the intent of building a new timeshare property.
Following the success of its first Hawai‘i timeshare project, the Westin Kaanapali Ocean Resort Villas that opened Wednesday on Maui, Starwood is looking to expand timeshare operations across the state, a spokesman said.
“We are looking at a number of options” in Po‘ipu, said Keith Vieira, Starwood’s vice president and director of operations in Hawai‘i.
“Part (of the additional land) could be used for a timeshare (resort). But right now, we are in the discussion phase,” he said.
“We are looking at a number of hotels in Hawai‘i,” said Keith Vieira, Starwood’s vice president and director of operations in Hawai‘i.
“We would like to find property locations that would be conducive to timeshares.”
The Sheraton Kauai Resort and land are owned by Japan’s Obayashi Corp. Representatives of Obayashi said they are considering offers from Starwood officials and others for transfer of the property.
Westin Kaanapali appears to be the first of many timeshare endeavors Starwood has planned for the state in the future.
The company’s planned timeshare expansion on Kaua‘i started with purchase of an 18.5-acre parcel at Princeville, overlooking ‘Anini Beach, in August of 2002, from the Princeville Corporation.
The purchase price was $15 million for the resort-zoned parcel. That parcel is zoned for 370 timeshare units or 740 hotel rooms. The project was scheduled to begin construction this year. Starwood plans to sell ownership in the upscale, two-bedroom units for $40,000 to $50,000 a week.
“We are still in the design and development process, and we have to apply for a development permit from the county (before construction),” said David Matheson, Starwood Vacation Ownership vice president of corporate affairs.
“There’s a lot going on for us. We have other projects in the pipeline, and we are in the same process with them.”
Company officials hope to be in the permitting process by the end of 2003. Current plans call for 200 to 250 luxury timeshares at Princeville. Starwood also operates the Princeville Resort.
Business Editor Barry Graham may be reached at 245-3681 (ext. 251) or mailto:bgraham@pulitzer.net.
