Marriott Int l Acquires Ritz-Carlton Kapalua

BETHESDA, MD Marriott International has purchased the Ritz-Carlton Kapalua hotel from Nissho Iwai Corp., for a price of $143 million. A spokesperson for Marriott International said that the company plans to sell the hotel to a third party and to retain management.

The sale should occur soon, the spokesperson said. We believe we ve identified a buyer. (10/20/00) Jay Nussbaum