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Press Release Source: Marriott International, Inc.
October 30, 2006
LIHUE, Kauai -- Plans for developing resort real estate community, Kauai Lagoons, were announced Oct. 27, backed
by the management and service excellence of The Ritz-Carlton and Marriott.
The proposed project is a multi-faceted resort featuring 520 acres of residential oceanfront property, a Jack Nicklaus
Signature Golf Course, breathtaking coastline views, full-service spa, restaurant, and a 38-acre freshwater lagoon
with marina.
Kauai Lagoons is a collaboration with Marriott Vacation Club International (MVCI) -- a subsidiary of Marriott International,
Inc. (NYSE: MAR) -- an affiliate of The Ritz-Carlton Hotel Company, LLC, and Kauai Development LLC.
An estimated 750 homes will be developed, including Ritz-Carlton managed, private ownership condominiums and townhomes;
bungalows and condominiums managed by Grand Residences by Marriott; Ritz-Carlton Club deeded, fractional ownership
residences; Marriott Vacation Club timeshare villas; and estate home lots.
Kevin Showe, manager of Kauai Development, stated this will be Hawaii's most comprehensive resort. "We have
a talented team in place including the world's pre-eminent service providers in The Ritz-Carlton and Marriott to
unlock the potential of Kauai Lagoons. We're also making improvements that will provide added value for the greater
Kauai community," said Showe.
Robert Calhoun, regional vice president of sales and marketing for Marriott Vacation Club International, commented,
"Kauai Lagoons is the first project for our company that presents such brand diversity and residential offerings.
Marriott has a proud, community oriented tradition in the Hawaiian Islands, and Kauai Lagoons will be yet another
tremendous addition, nestled in a stunning oceanfront setting and complemented by luxurious accommodations and
renowned service."
Robert Phillips, senior vice president of business development for The Ritz-Carlton Club said, "Kauai Lagoons
is a beautiful resort setting whose characteristics match perfectly with The Ritz-Carlton's world-class service
and lifestyle comforts. As the first Ritz-Carlton project on the Garden Island, we are pleased to bring this development
to our future Ritz-Carlton Club Members and Residence Owners."
The first two properties will break ground in the next few months. The Kalanipu'u condominiums will offer 78 two-
and three-bedroom floor plans ranging from approximately 1,301-1,665 square feet. Sales begin November 1, starting
at $1.7 million.
The first phase of The Ritz-Carlton Residences, Kauai Lagoons will offer 14 one- and two-story private ownership
residences with two-, three- and four- bedroom floor plans ranging from approximately 2,519-3,499 square feet.
Sales begin in early 2007, starting at $4.5 million.
Serene and secluded, but located near Lihue, the development will present an unrivaled, Kauai resort experience
marked by low-density residential offerings with a strong Hawaii architectural character. Including the golf course,
an estimated 350 acres will be preserved as undeveloped "green space," and many homes will be built along
the lagoon, allowing residents to be water taxied aboard classic wooden boats for community activities.
The Jack Nicklaus-designed Kiele Golf Course will have two holes realigned to overlook the coastline, giving the
resort five consecutive oceanfront holes.
Other planned resort projects benefiting the greater Kauai community will include improved access to shoreline
areas. Kauai Lagoons is also working with the county to create a shoreline pathway for walking and biking, which
includes picnic areas and comfort stations.
For information on The Kalanipu'u, visit http://www.kauailagoonsrealty.com
or call 808.245.5900. For The Ritz-Carlton Residences, call 808.241.2000.
MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading lodging company with more than 2,800 lodging properties in
the United States and 67 other countries and territories. For more information or reservations, please visit our
web site at http://www.marriott.com.
The Ritz-Carlton Hotel Company, LLC, established in 1983, is an award- winning hospitality organization and luxury
lifestyle brand. For information, please visit http://www.ritzcarlton.com.
*Note: Development plans and pricing are proposed and subject to change.
Source: Marriott International, Inc.