Hotels Hyatt Hotels announces $40M Maui Residence Club By Shane Nelson / November 21, 2012 Share 1 -- Hyatt Hotels Corp. has entered a partnership with Host Hotels & Resorts to develop and operate a 131-unit Hyatt Residence Club Resort on Maui's Kaanapali Beach. Affiliates of both companies have formed a joint venture to build the $40 million vacation-ownership property that is expected to open in 2014, according to a Nov. 20 Hyatt statement. “The development of Hyatt Kaanapali Beach, a Hyatt Residence Club presents a remarkable opportunity to expand the Hyatt Residence Club system to include one of the most desirable vacation-ownership destinations,” John Burlingame, global head of residential development for Hyatt Hotels, said in a statement. “Kaanapali Beach is one of Hawaii’s most beautiful areas, and we believe that Hyatt Kaanapali Beach, a Hyatt Residence Club will be a highly sought-after addition.” The new Residence Club will feature 100 two-bedroom units, 19 single-bedroom units and 12 three-bedroom units. Located on 40 acres of Kaanapali beachfront, the property will also include an 8,000 square-foot, open-air lobby; a 75-seat casual dining restaurant; a pool surrounded by a multilevel deck; a pool area bar; and a 3,300-square-foot fitness center. Hyatt currently operates 15 Residence Clubs across the U.S. in such locations as California, Colorado, Arizona, Nevada, Florida and Puerto Rico.