Marriott Hotel Brand Plans To Exit Guam Market

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Former Nauru owned property to be called Pacific Star Resort & Spa

By Gaynor Dumat-ol Daleno

HAGÅTÑA, Guam (Pacific Daily News, Jan .18, 2014) – The Marriott hotel brand will exit the Guam tourism market.

The current Guam Marriott Resort & Spa will begin operating under a different name. Beginning April 1, the hotel will be known as the Pacific Star Resort & Spa, the owner of the hotel property announced yesterday.

The property once was called the Pacific Star Hotel before the Marriott brand came in and managed the property.

Marriott International and the hotel property's owner, Marianas Properties LLC, made a joint decision to part ways, according to Marianas Properties.

"The relationship between the two organizations remains cordial," Roy Abraham, general manager of the Guam Marriott Resort & Spa, said in a statement.

Abraham added that Marriott International would "work hard to facilitate a smooth transition of the hotel operations over to Pacific Star Resort & Spa."

Marianas Properties asset manager Ajay Pothen thanked Marriott International for its contributions to the Guam tourism industry.

He added that the organization is excited to begin establishing the Pacific Star Resort & Spa brand.

"During discussions about the resort, many people would tell me about the glory days of the Pacific Star Hotel and how fond they were of it," Pothen said. "I am left impressed with the ability the Pacific Star Hotel had to help create and shape lasting memories for the many visitors and residents of Guam. We hope to create that magic with the Pacific Star Resort & Spa."

The Guam Marriott Resort & Spa employees and managers are directly responsible for providing the great level of service at the hotel, Pothen said.

Marianas Properties stated it plans to retain current management and associates when the hotel transitions to the Pacific Star brand.

The hotel property's previous owner, UFB Guam Hotel Corp., went into Chapter 11 bankruptcy reorganization that ended with a dismissal in August 2009.

Certain creditors in the bankruptcy case agreed to dismiss default judgments, including liens, against UFB, court documents show.

Creditors stated in court papers that UFB owed them more than $6.25 million.

Nauru

Before UFB's ownership, the Republic of Nauru Guam Inc. owned the former Pacific Star Hotel until the property was sold in 2004, Pacific Daily News files show.

The Nauru government-owned company lost the 19-story property in a foreclosure after it defaulted on two loans, one for $4.7 million and another for $16.5 million, according to foreclosure notices in Pacific Daily News files.

The former Pacific Star Hotel once was among a string of prime properties the Nauru government owned across the Pacific. At one time, the Nauru government, through trusts and subsidiaries, owned $1 billion worth of real estate in Guam, Saipan, Hawaii, Honolulu, Manila and other locations, federal court documents show.

When the island nation's rich phosphate deposits ran dry, it ultimately led to the collapse of the island nation's wealth in the 1990s, federal court papers show.

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