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In 1989, the Maui County Council tried to restrict short-term vacation rentals to land zoned for hotel use, but an opinion written by then-Deputy Corporation Counsel Richard Minatoya exempted ...
Mar. 3—Owners who convert won't have to pay county property taxes—combined with government-paid rental income ranging from $5, 000 a month for a one-bedroom unit to $11, 000 for a four-bedroom.
The hotel was built by Japanese developer Takeshi Sekiguchi, who also put together a large art collection for the hotel. It opened in 1991 as the Grand Hyatt Wailea.The hotel was built at an estimated cost of $650 million, which proved to be more than the economy could sustain, and Sekiguchi lost control of the property, which was sold for $263 million in 1998. [8]
A state agency received board approval Thursday to buy the former 229-room Maui Sun Hotel as part of a plan to turn the property into apartments for people who lost homes in the Aug. 8 disaster ...
A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts. [1]
RCI (formerly Group RCI and, before that, Resort Condominiums International) is a timeshare exchange company with over 4,300 affiliated resorts in 100 countries. Founded in Indiana in 1974 by Jon and Christel DeHaan , RCI is one of the two main timeshare exchange businesses, along with Interval International (II).
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This "must be paid yearly fee" would become the roots of what is known today as "maintenance fees", once the Florida Department of Real Estate became involved in regulating timeshares. The timeshare concept in the United States caught the eye of many entrepreneurs due to the enormous profits to be made by selling the same room 52 times to 52 ...