Ritz-Carlton to join activity at Ko Olina

By Sean Hao
Advertiser Staff Writer

Ritz-Carlton has signed a letter of intent to have a "major presence" at the Ko Olina resort development, Gov. Linda Lingle announced in her state-of-the-state speech. Lingle called it "a big deal for the state," after pledging her support for a $75 million Ko Olina tax credit.

Developer Jeff Stone of Ko Olina Co. said a confidentiality agreement with Ritz-Carlton prevented him from revealing further details. However, Lingle's support for tax breaks for the development were key in drawing the luxury hotel builder-operator's interest, he said.

"Gov. Lingle's discussions with Ritz-Carlton and her expressed commitment to rebuild our state's visitor industry (were) essential in solidifying Ritz-Carlton's interest in Honolulu," Stone said.

The Ritz-Carlton Hotel Co. has about 50 high-end hotels and resorts around the world, including one at Kapalua on Maui. The company employs 23,000 people and is almost wholly owned by Marriott International.