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You got it right concerning ownership versus management of the Maui Hyatt. The deal was done in 2003. More info here: http://starbulletin.com/2003/10/15/business/story1.html NOTE one little tidbit that is of MAJOR interest: There is a vacant piece of of Hyatt land just adjacent to the MVCI Lahaina Tower (currently being used for the Hyatt Luau). My Marriott sales guy said you can expect a Hyatt Vacation Club timeshare property to be built there in the not-too-distant future. Views from that side of the Lahaina tower will obviously change significantly as a result.