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THE RITZ-CARLTON CLUB AND RESIDENCES, KAPALUA BAY WELCOMES MEMBERS AND OWNERS

KAPALUA RESORT, Maui – June 22, 2009 – The Ritz-Carlton Club and Residences, Kapalua Bay, the highly anticipated residential development, is now open on a 24-acre oceanfront setting at Maui’s Kapalua Resort. Situated near The Ritz-Carlton, Kapalua, the property features the newest Ritz-Carlton Destination Club (known previously as The Ritz-Carlton Club) location, and private ownership luxury residences.

“The new Members and Owners at The Ritz-Carlton Club and Residences, Kapalua Bay are enjoying this new addition to the Kapalua Resort lifestyle, as well as Maui’s beauty and spectacular views of the ocean and the surrounding islands,” said Peter J. Watzka, executive vice president and chief operating office for The
Ritz-Carlton Development Company, Inc. (an affiliate of The Ritz-Carlton Hotel Company, LLC). “Additionally, the new Maui location is just the beginning of the larger expansion plans for the evolving Ritz-Carlton Destination Club brand.”

Kapalua Bay, LLC is the developer of the new resort, which is a first for Hawaii with its residential offerings. “We are delighted to welcome this stunning new property to Kapalua Resort’s portfolio of luxury living,” said Ryan Churchill, senior vice president of Maui Land & Pineapple Company, the majority owner of Kapalua Bay, LLC. “Whether a family wants to enjoy long vacations each year or spend a lifetime here, The Ritz-Carlton Club and Residences is an incredible offering that fits in perfectly with the tradition and comforts of Kapalua Resort.”

The property boasts 62 fully furnished, two- and three-bedroom fractional ownership residences with floor plans ranging from approximately 1,912 to 2,257 square feet. The interior design draws on the island’s history such as pineapple plantations and vistas of Mount Haleakala. Club Members purchase a deeded, one-twelfth fractional ownership interest giving them the opportunity to stay 21 days per year, while enjoying the personal services of a concierge staff and a multitude of resort amenities. Prices start at $350,000 per interest.

The Ritz-Carlton Residences, Kapalua Bay features 84 wholly-owned residences. The luxurious three- and four-bedroom floor plans offer spacious living areas ranging from roughly 3,002 to 4,271 square feet. Design elements include a private elevator and garden entryway, gourmet kitchen, and large outdoor lanai opening to picturesque 180-degree ocean views with the islands of Molokai and Lanai in the backdrop. Prices start at $3.9 million.

Sub-Zero, Wolf, and Fisher & Paykel appliances are included in both real estate offerings, and the Residences provide a broad array of interior selections. Property amenities are highlighted by a private 6,100 square-foot beach club, 8,500 square-foot lagoon-style pool with bar and grill, and a second bar located near the water’s edge – perfect for taking in the stunning ocean vistas. A Maui-themed general store offers name brand and specialty products.

Members and Owners, through membership at the Kapalua Club, will enjoy access in the coming weeks to a nearly 30,000 square-foot spa, as well as the existing amenities offered at the 23,000-acre Kapalua Resort, including golf privileges at The Bay and The Plantation golf courses, the three award-winning white-sand beaches (two have been named America’s Best Beach by Dr. Beach), 12 dining options ranging from casual fare to five-star restaurants, and the exciting outdoor activities of the Kapalua Adventure Center.

The Ritz-Carlton Club and Residences, Kapalua Bay was designed by WCIT Architecture of Honolulu, with Nordic/PCL, a Hawaii joint venture, as general contractor. The interior designer is BAMO of San Francisco.

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