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Baccarat Wailea Gets Postponed -- Hopefully Not Cancelled

Where: 3550 Wailea Alanui Dr [map], Wailea, HI, United States, 96753

While Barry Sternlicht and Co are busy starting up their new hotel management company, SH Group, another one of the initial Baccarat Hotel and Resorts has been postponed joining the Baccarat projects in Atlanta, Anguilla, and Water Cay which have also been postponed or canceled.

The Baccarat Wailea Hotel & Residences was originally scheduled to open in 2010, but currently they have not even started tearing down the existing hotel on the property - the former Renaissance Wailea Beach, and Starwood Capital came out with a statement this week stating that:

"We are going to take some time and pause to determine the proper course of action for our properties and evaluate some additional possibilities."

The Baccarat Wailea website has been deactivated and all mentions of Baccarat Wailea have been removed from BaccaratHotels.com.

In the mean time it's been reported that over $300 million in sales have been made since the project was first announced, but somehow that still didn't make the project successful enough.

No word yet if those who committed to a pre-sale are being let out of their contracts or if they are expected to wait for more news on the project; the General Manager of the Wailea Community Association said he expects an announcement within three weeks on the status of the project.

Even though most of their hotel development projects have been scaled back or canceled - the Baccarat Hotels brand (along with 1 Hotels and Crillon) will continue under SH Group, but when a location from one of these brands will actually open is another story. The formation of the management group can't come fast enough!