Maui Prince lays off workers, shuts down operations
Sep 1, 2009, 1:10 am
#1
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Maui Prince lays off workers, shuts down operations
Sad sad sad...
http://www.honoluluadvertiser.com/ar...ctive+Sept.+16
http://www.honoluluadvertiser.com/ar...ctive+Sept.+16
About 380 employees of the Maui Prince Hotel and the neighboring golf course received notices yesterday notifying them that they will lose their jobs effective Sept. 16 as the result of foreclosure proceedings against the resort.
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The hotel's lenders "are unable to meet the funding terms and conditions required by Maui Prince Hotel LLC to continue as the management company for the Maui Prince Hotel and Makena North golf course," said Donn Takahashi, president of Prince Resorts Hawaii, the management company for the owners of the hotel and golf course.
The upscale hotel operator "has no recourse but to give notice to terminate our management contract and cease operations."
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The hotel's lenders "are unable to meet the funding terms and conditions required by Maui Prince Hotel LLC to continue as the management company for the Maui Prince Hotel and Makena North golf course," said Donn Takahashi, president of Prince Resorts Hawaii, the management company for the owners of the hotel and golf course.
The upscale hotel operator "has no recourse but to give notice to terminate our management contract and cease operations."
Sep 1, 2009, 2:01 am
#2
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That is sad...
Are they going to shut down for a while and reopen with a non-unionized workforce? I know its been having fiscal issues for a while...
Sep 1, 2009, 7:39 am
#6
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I was told this last week and will miss the place. The buyers (I know one of the principles) paid way too much for the Maui Prince and its surrounding property intending to keep overbuilding as they have for years. My understanding is they will try to sell the hotel in this depressed market and keep the properties if they can.
MisterNice
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Sep 10, 2009, 7:23 pm
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Sep 11, 2009, 4:38 pm
#8
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We were on Maui over Labor Day weekend. Had made reservations for brunch at the Maui Prince but received a call the day before we flew out, that they were no longer doing brunch. Most of the restaurants on Maui were less than half full. But not surprised since this is typically slack season for Hawaii. I hope they do get back on track. But could see the need to pair down staff levels given an occupancy rate of 50% or so. Reading on trip advisor, it sounds like lots of folks are canceling or booking else where for trips in the near term.
Sep 11, 2009, 6:45 pm
#9
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The name will change when it reopens.
Sep 28, 2009, 6:04 pm
#11
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