by Michael C. Lowe | October 27, 2010

In a joint venture, Hyatt Hotels Corp. and an affiliate of Starwood Capital Group are developing a recently acquired Maui property into the 290-room Andaz Wailea Resort and Residences on Mokapu Beach in Hawaii. The resort, on 600 feet of Mokapu Beach, is expected to open in the fourth quarter of 2012. Plans for the hotel include a 15,000-square-foot spa, a shopping center, restaurants, a 54-hole golf club and a yet-to-be-determined amount of meeting space. Hyatt estimates its investment in the project will be $90 million.