{"id":2518,"date":"2012-02-10T06:07:30","date_gmt":"2012-02-10T06:07:30","guid":{"rendered":"http:\/\/newspaper.ctsi-logistics.com\/?p=2518"},"modified":"2012-02-10T06:07:30","modified_gmt":"2012-02-10T06:07:30","slug":"umda-palms-resort-not-sold-yet","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/umda-palms-resort-not-sold-yet\/","title":{"rendered":"UMDA: Palms Resort not sold yet"},"content":{"rendered":"<div>By Moneth Deposa<br \/>\nReporter<\/div>\n<p>The United Micronesian Development Association&#8217;s board chairman, Joe Lifoifoi, denied yesterday a report that came out in a Korean newspaper that Palms Resort Saipan had been sold to a Korean company.<\/p>\n<p>He admitted that the hotel is for sale but clarified that no formal transaction has occurred to date. He said \u201cnegotiations are ongoing\u201d with potential buyers, one of which is Korea-based E-Land Group.<\/p>\n<p>Lifoifoi refused to disclose the price tag for the UMDA-owned hotel, saying nothing has been finalized yet.<\/p>\n<p>The Korean Herald reported early last month that E-Land has bought for an undisclosed sum two hotel resorts on Saipan: the Palms Resort Saipan and the Pacific Islands Club.<\/p>\n<p>E-Land Group is reportedly one of the biggest fashion and retail firms in South Korea and has major business interests in hotels, condominiums, and construction.<\/p>\n<p>Known as the former Nikko Hotel, Palms Resort is a 14-story, 313-room hotel across the former La Fiesta Mall in San Roque. UMDA acquired it in February 2008 for $3 million and renamed it Palms Resort. In 2010, it announced major renovation plans that resulted in the layoff of its more than 100 employees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Moneth Deposa Reporter The United Micronesian Development Association&#8217;s board chairman, Joe Lifoifoi, denied yesterday&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2518","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/2518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=2518"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/2518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=2518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=2518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=2518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}