One hotel in the Mariana Islands continues to share good news, while another is mired in bankruptcy. Plus, a new pairing of visitor authorities and a policy decision lead regional and Asia Pacific tourism news.
Marianas Properties LLC, which does business as the Pacific Star Resort & Spa filed for Chapter 11 bankruptcy in the District Court of Guam today, Sept. 12 – avoiding a foreclosure set for today. Journal sources said the Bank of Guam was due to foreclose on the property, according to a notice published today.
The filing documents sent to the paper acknowledged between 1 and 49 creditors, with estimated liabilities of a dollar more than $10 million and $50 million. The filing was signed by Ajay Pothen Sept. 12 as president of Marianas Properties and Mathews Pothen Sept. 11 as member.
The list of creditors includes lessors, the Treasurer of Guam for tax and property tax, the U.S. Small Business Administration for a loan, and various businesses in Guam.
According to Journal files, the sale of the hotel and other assets by Bank of Guam to settle debts was blocked in 2021. The property was formerly branded as a Marriott hotel, until 2014. The Republic of Nauru Guam Inc. owned the property until it was sold in 2004 to UFB Guam Hotel Corp. which eventually filed for bankruptcy.
In other hospitality news, the Journal has confirmed that the former Hyatt Regency Saipan lease under Saipan Portopia has been formally assigned to MB Capital Corp.
The lease was signed off on Aug. 31 by the Department of Public Lands for the Northern Mariana Islands according to MB Capital.
There may be more good news to come from the new leaseholders.
Gloria C. Cavanagh, general manager for the hotel, said, “We are currently speaking to two international brands and hope to sign with one soon.”
In a bid to attract more athletes and attention to certified marathons in Micronesia, the Marianas Visitors Authority and the Palau Visitors Authority are joining forces to co-promote each other’s annual marathons.
MVA, PVA and Palau Athletics have signed a Memorandum of Understanding to “promote, share information, and encourage participation” in the Belau Omal Marathon – just held on Sept. 1 in Koror, and the Saipan Marathon on March 9, 2025, according to a Sept. 11 release.
The Saipan Marathon and the Belau Omal Marathon are certified measured courses by World Athletics in cooperation with the Association of International Marathons and Distance Races, MVA said in the release.
In other tourism industry news, Taiwanese Hotel operator Fleur de Chine announced Sept. 5 it has become the first in Taiwan’s tourism industry to implement three-day weekends for employees.
The trial run will be rolled out over the next six months at its Sun Moon Lake location, after which further implementation will be determined based on trial results.
In its press release, the company said the newest generation of employees has an increasing need for work-life balance, and that workplace culture has undergone tremendous changes since the pandemic and the policy was in response.
The Fleur de Chine Hotel at Sun Moon Lake has an employee dormitory and has plans to build a second. mbj
A bankruptcy leads the latest news of the tourism industry
A bankruptcy leads the latest news of the tourism industry
- Date Posted: Sep 12, 2024
- News: Guam, Northern Mariana Islands, Palau
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A bankruptcy leads the latest news of the tourism industry