Marriott recently sold Kauai Lagoons to Developer Ed Bushor for $60M. $40M has already been paid and Marriott is seeking the remaining $20M by April 30th. Though, according to Pacific Business News, an alternative arrangement may be in the works where Ed Bushor develops the rest of the property with time-share units and Marriott purchases them. If the deadline to reach an alternative arrangement is not reached by March 31, Mr. Bushor will be obligated to pay the rest. Reside Kauai will keep you updated as more information becomes available.
For more information on the sale view our previous story: http://www.residekauai.com/blog/develeoper-ed-bushor-acquires-kauai-lagoons-marriott-60m/