The first Hawaiian hotel casualty of the recession has been claimed--The Maui Prince Hotel and Makena Golf Course will close on September 16, according to news reports. The hotel's management company, Prince Resorts Hawaii, was forced to close the hotel after the owners defaulted on a mortgage of $192.5 million. And it wasn't just the mortgage the owners couldn't keep up with--they couldn't keep up with their end of the operation contract either.
So while a hotel in foreclosure usually doesn't affect the guest experience during their stay, once the hotel owners are unable to meet the demands of their contract with the hotel management company, then things really start to go south.]]>