Benchmark Hospitality is scheduled to take over management of the Maui Prince Hotel Makena Resort on Sept. 17. Benchmark also is expected to rename the hotel.
The management change was announced on Tuesday after a Maui court approved a Wells Fargo receivership request initiated in an attempt to keep the hotel open.
"We are pleased the resort hotel has taken the next step in its transition while it continues to operate normally for guests and employees," said Barry Sullivan, attorney for Wells Fargo Bank, trustee for the mortgage lenders. "Our goal has been to facilitate this transition, keep the resort operating and save as many jobs as possible. We now look forward to the next steps to return the hotel and resort to profitability."
Wells Fargo foreclosed on the property Aug. 24. A week later, Prince Resorts Hawaii said it planned to end its two-year management contract and close the hotel on Sept. 16.
Benchmark also manages the Turtle Bay Resort on Oahu's North Shore.