Ko Olina Resort & Marina Refocuses on Families ofthe New Century.

Business/Travel/Real Estate Editors

KO OLINA, Hawaii--(BUSINESS WIRE)--Jan. 7, 2000

Ko Olina Company, LLC, a Hawaii-based company and owners of Ko Olina Resort & Marina, today announced the fulfillment of a year-long dream to create the first family resort destination on West Oahu.

The resort today sold 30 acres of prime ocean front property to Marriott Vacation Club International. No purchase price was disclosed. Marriott plans to custom build 750 vacation ownership villas on this site. This land sale, combined with last October's joint purchase by Ko Olina Company, LLC and Mass Mutual, of the newly named JW Marriott Ihilani Resort and Spa at Ko Olina, signals the refocus of the resort on the active family vacationer, the quintessential Marriott patron. A 43-acre, 270-slip private marina development, general store and fuel dock will open within the resort in March.

"Ko Olina's strategic partnerships will generate nearly $2 billion towards Hawaii's economy over the next five years," said Jeff Stone, co-manager of Ko Olina Resort & Marina. Marriott Vacation Club's purchase of ocean front land at Ko Olina is one of the company's most aggressive and largest projects for the company to date. It signifies confidence in the resort and Hawaii's future. Plans for the vacation club project are based on a 5-year build out.

Ko Olina envisions itself in a mutually beneficial partnership with Waikiki to revitalize travel to Oahu. "We are extremely fortunate," said Stone. "Waikiki has density and offers incomparable shopping, dining, hotels and convention facilities. Ko Olina has golf, a spa, beaches and soon a marina. Our natural open space is perfect for active travelers seeking a hideaway hotel and family vacation experience. The destinations complement each other," continued Stone.

Stone envisions Marriott's presence at Ko Olina as a lightning rod to attract more business to the island because of the massive marketing program generated by Marriott Vacation Club International. To this end, more than $600 million is earmarked for construction and marketing of the vacation club project.

Ko Olina Resort & Marina is a master-planned resort community on the western shore of Oahu. In addition to the AAA Five-Diamond JW Marriott Ihilani Resort and Spa at Ko Olina and 18-hole Ted Robinson-designed Ko Olina Golf Club, the resort is home to Paradise Cove cultural park, a string of jewel-like lagoons connected by 1.5 miles of seaside pathways, the new and popular full-service Ko Olina Wedding Chapel and the Fairways at Ko Olina Resort, a golf course residential community. The world class Ko Olina Marina will open in March 2000.