The Four Seasons Maui has gone delinquent on its $425m of mortgages just as the Four Seasons New York and others have reached compromises with their lenders.
MSD Capital, the private investment firm of Dell founder Michael Dell and his family, skipped the February payment on the debt as it seeks to restructure the loan, according to credit-rating company Realpoint. The 380-room hotel's debt is split between two securitized mortgages, one of $250m and one of $175m.
The Four Seasons Maui has struggled in the past year along with most luxury hotels in Hawaii.
Wall Street Journal