Starwood Hotels Pulls Out Of Turtle Bay Resort Deal
POSTED: 1:38 pm HST July 13, 2007
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HONOLULU -- Starwood Hotels has backed out of a deal to buy part of the Turtle Bay Resort on Oahu's North Shore.Starwood said it decided to end negotiations with Turtle Bay owner Oaktree Capital after a board meeting on Tuesday. Oaktree's local company, Kuilima Resort, confirmed that talks with Starwood had broken off.Oaktree is continuing to talk to other companies about becoming joint venture partners, or buying the entire 880-acre property, according to Oaktree spokesman Nathan Hokama.
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