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News release

MAUI

Jones Lang LaSalle Brings to Market Ritz-Carlton, Kapalua Resort on Maui, Hawaii

Premier investment opportunity expected to attract worldwide investor interest


MAUI, May 8, 2013 — Jones Lang LaSalle’s Hotels and Hospitality Group today announced it has been retained by RCK Maui, LLC to market for sale the Ritz-Carlton, Kapalua Resort located on the island of Maui, Hawaii. The 54-acre luxury resort consists of 297 hotel rooms and 107 condominium units (of which 73 are unsold developer-owned and market ready for sale), indoor and outdoor meeting spaces, a spa, and six world-class food and beverage outlets.

Located in the luxurious Kapalua Resort community, the property benefits from an unmatched beachfront location immediately adjacent to one of Hawaii’s best beaches. The property includes 35,288 square feet of indoor meeting space with an additional 173,000 square feet of outdoor meeting space, the 17,500-square-foot Ritz-Carlton Spa, a three-tiered pool, tennis center, and other luxury recreational amenities. The property also boasts a world-class golf, dining, shopping and outdoor recreation area in the Kapalua Resort. 
The Los Angeles and New York offices of Jones Lang LaSalle are leading the assignment.

“The Ritz-Carlton, Kapalua Resort is a strategic and value-add acquisition opportunity that we expect will attract investor interest from around the world,” said John Strauss, Managing Director of Jones Lang LaSalle’s Hotels & Hospitality Group. “A new ownership group has the ability to capitalize on the strength of the Maui lodging market and significant compression from Oahu to drive outsized rate and occupancy growth in the near- to medium-term.”

The island of Maui, named “Best Island in the World” for 18 consecutive years in the Conde Nast Traveler Reader’s Poll, is one of the premier luxury hospitality markets in the world. The market has demonstrated strong fundamentals with RevPAR growth of 12.5 percent and 8.0 percent in 2011 and 2012, respectively.

Jones Lang LaSalle’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s more than 265 dedicated hotel and hospitality expert’s partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling nearly US$25 billion, while also completing approximately 4,000 advisory and valuation assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from Jones Lang LaSalle’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.