MAUI, HAWAII – A partnership between Woodridge Capital Partners LLC and Colony Capital LLC has acquired The Ritz-Carlton, Kapalua Resort for an undisclosed sum. The AAA five-diamond resort is situated on 54 oceanfront acres within Maui’s Kapalua Resort. The showpiece features 463 guestrooms, including 107 residential suites.
“The combination of The Ritz-Carlton brand, a welcoming and nurturing Hawaiian culture and the nature and magic of Maui will make an unbeatable combination,” says Thomas J. Barrack, Jr., Colony’s chairman and CEO.
Built in 1992, the resort underwent a $190 million renovation in 2007, which included the introduction of The Ritz-Carlton residences. The new owners plan to make further enhancements to the resort.
“We have great respect for the traditions of the islands,” says Michael Rosenfeld, Woodridge’s founder and president. “With its special character, remarkable location and precious natural resources, The Ritz-Carlton, Kapalua is a rare property that would be nearly impossible to duplicate today.”
The property contains three restaurants, a lounge, a pool bar, café and The Beach House, an outdoor restaurant that is situated next to D.T. Fleming beach. The resort also contains 207,000 square feet of meeting space, including 35,000 square feet of indoor meeting space and 172,000 square feet of outdoor space.
Guests can also enjoy the large spa, fitness center, tennis facilities, and 4,600 square feet of retail and convenience shops offered on-site.
The Ritz-Carlton, Kapalua also features the Ambassadors of the Environment program. Developed by famous French explorer Jean-Michel Cousteau, this environmental and cultural education center enables hotel guests to explore Hawaii’s natural landscapes.
Program activities focus on the tropical ecology and cultural history of the Kapalua coastline through the study of coral reefs, tide pools, marine mammals, coastal bluffs and rainforests.
The Ritz-Carlton Hotel Company LLC will continue to operate the hotel. Deutsche Bank provided the resort’s acquisition financing. Some of Colony Capital’s affiliates, including Colony Financial, participated in this acquisition.
— Nellie Day