Posted at 1:04 p.m., Monday, August 1, 2005
BUSINESS BRIEFS
Aston Hotels adopts name change
Advertiser Staff
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ResortQuest Hawaii president Kelvin Bloom said the name change will allow Hawai'i operations to benefit from a unified national brand identity. He said ResortQuest is the world's leading resort condominium and vacation property management brand with properties in 52 resort destinations across the U.S. and Canada.
Bloom said the chain's 1,500 employees will not be affected. He also said the company's programs, such as the preferred membership for corporate travelers, kama'aina and military discounts, and its children's program, will continue.
ResortQuest International bought the Aston chain, which includes 28 properties in Hawai'i, in 1998 from then-owner Andre Tatibouet. ResortQuest was acquired in 2003 by Gaylord Entertainment Co., which also owns Gaylord Hotels and the Grand Ole Opry.
Property sales boost Maui Land & Pineapple earnings
Maui Land & Pineapple earned $6.5 million in the second quarter, or 90 cents a share, compared with a net loss of $2.4 million or 33 cents a share in the same period a year ago. Second-quarter revenues were $51.2 million, up from $29.7 million a year ago.
Earnings were bolstered by the sale of two Upcountry Maui properties that closed in the second quarter, bringing in revenues of $14.5 million and pre-tax gains of $10.5 million. The first sale included about 25 acres of land and improvements to the Hui No'eau Visual Arts Center. The second sale included approximately 129 acres land.
For the first half of this year, Maui Land & Pineapple reported earnings of $7.7 million, or $1.07 a share, compared with a net loss of $855,000, or 12 cents a share for the same period a year ago. Revenues for the first half of the year were $89.3 million, compared with $70.3 million a year earlier.