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The Seibu Group of Japan is selling the Maui Prince Hotel, two 18-hole golf courses and land zoned for development at Makena.

The 310-room Maui Prince Hotel opened in 1986. In a statement, Prince Resorts Hawaii said Seibu is "taking advantage of Hawaii's booming real estate market" by selling the hotel, golf courses and land that comprise the Makena Resort at South Maui. The price was not listed.

Seibu has owned the 1,800-acre resort more than 30 years and played a major role in developing the Makena area. The company is part of a financially troubled Japanese conglomerate and tourism industry observers have been expecting a sale of some of its Hawaii assets for the past two years.

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