Posted on: Tuesday, August 6, 2002

Aston contracts dispute settled

Aston Hotels & Resorts and the owners of two Neighbor Island hotels have reached a mediated settlement in a dispute over the termination of Aston's hotel management agreements.

Aston said SVP Islander LLC, the owner of the Maui Islander Hotel, and SWVP Keauhou LLC, the owner of the Keauhou Beach Resort, last year terminated Aston's management contracts, alleging poor profit performance in the first two years of operations under the contracts.

Aston said the owners' profit expectations were unrealistic.

Terms of the settlement were not disclosed, but Aston said all parties expressed satisfaction with the outcome.

Last year Outrigger Enterprises signed new management contracts with the properties under its Ohana brand.