Four Seasons Letter of Intent to Re-brand Lana’i

Four Seasons Hotels and Resorts announced today that it has signed a letter of agreement with Castle &
Cooke Resorts, LLC, to initiate the re-branding of the Manele Bay Hotel
and The Lodge at Koele, both on the Hawaiian island of Lana’i. When
details are finalized, the two properties are expected to join the
Toronto-based company’s two award-winning properties in Hawaii: Four
Seasons Resort Maui and Four Seasons Resort Hualalai, on the Big Island,
during 2004 for the Hotel and 2005 for the Lodge.
“We are delighted to have the opportunity to broaden our portfolio of
luxury resorts in Hawai’i,” said Isadore Sharp, chairman and CEO, Four
Seasons Hotels and Resorts. “Both the Manele Bay Hotel and The Lodge at
Koele have already earned an enviable reputation. A planned refurbishment,
combined with Four Seasons global brand reach, will complement the
properties’ exceptional location and enhance the overall guest experience.”

Surrounded by lavish gardens, the 249-room Manele Bay property sits high
above the white sand beach of Hulopo’e Bay, overlooking the nearby islands
of Maui and Kaho’olawe. Brilliant red lava cliffs and rock formations
provide a dramatic contrast to the blue-green waters of the sea below.

The Hotel’s spacious accommodations complement the property’s natural
setting, and meld with the island’s archaeological treasures. The award-
winning Jack Nicklaus designed Challenge at Manele golf course is set
spectacularly adjacent to the hotel and highlights a wide variety of
recreational activities available on the Island of Lana’i.

The 102-room Lodge at Koele, at an elevation of 1,600 feet, is reminiscent
of a fine country estate. The Lodge combines an upcountry Hawaiian setting
with an extensive collection of Pacific art, as well as series of exotic
gardens. Settled amongst decades-old towering Cook Island pines, the Lodge
features authentic rustic touches such as heavy timbers, beamed ceilings,
and natural stone fireplaces. Golf enthusiasts find The Experience at
Koele a golf experience like no other. Designed by Greg Norman, this
championship course is unique in Hawai’i, offering an incredible
combination of upland terrain, inspired landscape architecture, and range
of play challenges.

Commenting on the agreement, David H. Murdock the Owner, Chairman and CEO
of Castle and Cooke said, “I am delighted to enter into an agreement with
the world’s most prestigious hotel group, a favorite of mine as it is for
many other discerning world travelers. My vision for Lana’i has always
been to offer the very best quality. I am unwavering in that commitment as
this agreement demonstrates. We welcome the Four Seasons brand to Lana’i.”


“Now with four exceptional properties to choose from, including Four
Seasons’ two AAA Five Diamond resorts in Maui and the Big Island, luxury
travelers the world over will have even more reason to seek out the
serenity, natural beauty and recreational pastimes available in Hawaii,”
added Sharp. “With our world-acclaimed Resort portfolio, and the addition
of new properties in Jackson Hole, Great Exuma and Costa Rica and Whistler
and Terre Blanche expected this year, Four Seasons is perfectly positioned
to offer guests the world over with truly memorable leisure experiences.”

Castle & Cooke, Inc. and its affiliated companies have operations in over
24 states. The company’s diversified businesses include the development
and ownership of real estate, leasing of transportation equipment,
manufacture of brick and building materials and ownership of public
warehouses. The company’s real estate developments include master planned
communities such as Mililani Town on the island of Oahu, Hawaii, Lake
Sherwood in Thousand Oaks, California, Seven Oaks in Bakersfield,
California and Keene’s Pointe in Orlando, Florida. The company also owns
98% of the Island of Lana’i in Hawaii. For more information please visit

With a history spanning four decades and a portfolio that extends
worldwide, Four Seasons Hotels and Resorts is the world’s leading operator
of luxury hotels, currently managing 61 properties in 29 countries. Four
Seasons Resort Costa Rica opened on January 17, 2004 and the company
continues to grow, with more than 20 projects under construction or
development in choice locations around the world. In the first half of
2004, Four Seasons expects to open new properties in Budapest, Provence,
Whistler, B.C. and Hampshire, England. In addition to being named to
Fortune magazine’s Top 100 Employers to Work For Four Seasons continues to
have the most AAA Five Diamond properties and Mobil Five Star awards in
the industry. The company is also consistently highly ranked in readers’
surveys in publications such as Conde Nast Traveler, Travel + Leisure,
Andrew Harper’s Hideaway Report and the Zagat Survey. Information on the
company and its 43 years in the hospitality industry can be assessed
through the Four Seasons website at