KAUAI, HI—Marriott Vacations Worldwide is said to be in negotiations to sell its Kauai Lagoons project, an out-sized construction project that was stalled by the economic collapse. According to local business media, Hawaii developer Ed Bushor is looking to buy for $60 million.
Bushor, through a partnership with marine artist Wyland, has also purchased the iconic Naniloa Volcanoes Resort on the Big Island late last year. He told Pacific Business News recently that he is in negotiations with Marriott Vacations Worldwide for the Kauai Lagoons purchase.
Ed Kinney, spokesman for Marriott Vacations Worldwide, told PBN Friday that the Marriott International subsidiary has reached a purchase agreement, but declined to say who bought it.
The resort project, which includes about 83 acres of developable land, sits within the 601-acre master-planned community of Kauai Lagoon.
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