LANA‘I, HAWAI‘I (August 10, 2005) Castle & Cooke Resorts, LLC announced today it recently signed management agreements with Four Seasons Hotels and Resorts (TSX Symbol “FSH.SV”; NYSE Symbol “FS”) to manage the Manele Bay Hotel and the Lodge at Ko‘ele, both on the Hawaiian island of Lana‘i.
The Manele Bay Hotel, currently undergoing over $40 million in improvements in anticipation of the management change, will be re-branded as the Four Seasons Resort Lana‘i at Manele Bay upon completion of the renovation. It is anticipated that the initial phase of the renovation will be completed on or about September 16, 2005. The renovation includes upgrading all guestrooms, expanding and enhancing the pool bar and grill, and constructing a new fitness center and seven new suites including a 3,200 sq. ft. Presidential Suite. The Lodge at Ko‘ele will also be managed by Four Seasons and will undergo a similar renovation of the guestrooms during 2006. The Lana‘i properties will join the Toronto-based company’s two other award-winning properties in Hawai‘i: Four Seasons Resort Maui and Four Seasons Resort Hualalai, on the Big Island. Castle & Cooke will retain ownership of the hotels and continue to own and operate the golf courses and all of the non-resort operations on Lana’i, including real estate development, retail and commercial leasing.
"I am pleased to partner with the world’s most prestigious hotel group, a favorite of mine along with other discerning world travelers," said David H. Murdock the owner, chairman and CEO of Castle & Cooke. "My vision for Lana‘i is to offer the very best quality and I am unwavering in that commitment as this agreement demonstrates. We welcome the Four Seasons brand to Lana‘i with aloha and great anticipation. This change will complement the experience we are providing to the owners of our luxury resort homes on Lana‘i."
Surrounded by lavish gardens, the 236-room Manele Bay property sits high above the white sand beach of Hulopo‘e Bay, overlooking the nearby islands of Maui and Kaho‘olawe. Brilliant red lava cliffs and rock formations provide a dramatic contrast to the blue-green waters of the sea below.
The hotel’s spacious accommodations complement the property’s natural setting, and meld with the island’s archaeological treasures. The award-winning Jack Nicklaus designed Challenge at Manele golf course is set spectacularly adjacent to the hotel and highlights a wide variety of recreational activities available on the Island of Lana‘i.
The 102-room Lodge at Ko‘ele, at an elevation of 1,600 feet, is reminiscent of a fine country estate. The Lodge combines an upcountry Hawaiian setting with an extensive collection of Pacific art, as well as series of exotic gardens. Settled amongst decades-old towering Cook Island pines, the Lodge features authentic rustic touches such as heavy timbers, beamed ceilings, and natural stone fireplaces. Golf enthusiasts find the Experience at Ko‘ele a truly great golf experience. Designed by Greg Norman, this championship course is like no other links course in Hawai‘i, perhaps even the world, offering an incredible combination of upland terrain, inspired landscape architecture and range of play challenges.
Commenting on the agreement, Isadore Sharp, Chairman and CEO, Four Seasons Hotels and Resorts said, "We are excited about the opportunity to broaden our Hawai‘i portfolio of luxury resorts. These two resorts, combined with Four Seasons’ resorts in Maui and the Big Island, will give luxury travelers the world over even more of a reason to seek out the serenity, natural beauty and recreational pastimes available in Hawai‘i.
Castle & Cooke, Inc. and its affiliated companies have operations in over 24 states. The company’s diversified businesses include the development and ownership of real estate, leasing of transportation equipment, manufacture of brick and building materials and ownership of public warehouses. The company’s real estate developments include master planned communities such as Mililani Town on the island of O‘ahu, Hawai‘i, Lake Sherwood in Thousand Oaks, California, Seven Oaks in Bakersfield, California and Keene’s Pointe in Orlando, Florida. For more information please visit the Island of Lana‘i website at www.islandoflanai.com and the Castle & Cooke website at www.castlecooke.net.
Dedicated to continuous innovation and the highest standards of hospitality, Four Seasons invented luxury for the modern traveller. From elegant surroundings of the finest quality, to caring, highly personalised 24-hour service, Four Seasons embodies a true home away from home for those who know and appreciate the best. The deeply instilled Four Seasons culture is personified in its employees – people who share a single focus and are inspired to offer great service. Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centers and desirable resort destinations around the world. Currently with 65 hotels in 29 countries, and more than 20 properties under development, Four Seasons will continue to lead luxury hospitality with innovative enhancements, making business travel easier and leisure travel more rewarding. For more information on Four Seasons, visit www.fourseasons.com.
For more information, please contact:
Timothy A. Hill, Executive Vice President
Castle & Cooke Resorts, LLC
(808) 565-3820
- or –
Elizabeth Pizzinato
Four Seasons Hotels and Resorts
(416) 441-4335