HONOLULU-A joint venture of Host Hotels & Resorts and Hyatt Hotels Corp. is planning to develop a Hyatt Residence Club resort on the Hyatt Regency Maui Resort & Spa site in Kaanapali. The joint venture will invest $40 million to develop Hyatt Kaanapali Beach, a 131-unit property on Maui.

Hyatt Kaanapali Beach will be the first Hyatt Residence Club property in Hawaii. Expected to be opened in 2014, the resort will include 131 units, a 75-seat restaurant, retail store, fitness center and pool. For the full story, go to Pacific Business News .

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