Singapore Government to Buy Four US Resorts for $1.5B
HONOLULU-The Grand Wailea, a 780-room resort on Maui, and three other US resorts held by a group headed by Paulson & Co. of New York will be sold to the Government of Singapore Investment Corp. for $1.5 billion. The deal includes the Grand Wailea, the PGA West golf course and La Quinta Resort & Club in La Quinta, California, and Phoenix's Arizona Biltmore Resort & Spa, which are controlled by Waldorf Astoria Management.
The fourth property is the Claremont Resort & Spa situated in Berkeley, California. For the full story, go to Pacific Business News .
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