Posted at 11:24 a.m., Tuesday, July 16, 2002
Marc Resorts has new owners
Advertiser StaffA group of investors headed by Phoenix-based Heller-White Hotel Management bought Marc Resorts Hawaii from its bankrupt parent, Sunterra Corp., for a minimum of $1.1 million.
In addition to a guaranteed payment, Orlando-based Sunterra will receive 25 percent of Marc's pre-tax profit for the next 15 years, which could substantially raise the selling price.
Marc Resorts president Matt Delaney said the new owners will continue to operate the company under the Marc Resorts name and with the current 250 employees.