THE Senate on Monday unanimously adopted Senate Resolution 24-10, disapproving Mariana Eland Corporation’s proposal to lease the 1.4 million-square-meter property previously occupied by Kan Pacific’s Mariana Resort & Spa in Marpi.
All eight senators present voted to adopt the resolution authored by Senate Vice President Corina Magofna and co-sponsored by Senate Floor Leader Donald Manglona, Sens. Paul A. Manglona, Manny Gregory T. Castro, Ronnie Calvo, and Francisco Q. Cruz. Sen. Celina R. Babauta was excused.
Mariana Eland Corp., the parent company of Micronesia Resort Inc., which operates the Pacific Islands Club, Kensington and Coral Ocean Golf Resort, wanted to invest $220 million in improvements to the property.
During public hearings conducted jointly by the Senate Committee on Resources, Economic Development and Workforce and the House Committee on Natural Resources, some Tanapag and San Roque residents expressed various concerns about the land lease proposal, questioning Eland Corp.’s financial capability to acquire another property on public land.
On May 21, 2025, the company, citing “unprecedented business losses,” implemented a reduction-in-force, and announced Kensington’s temporary closure from June 9 to July 6.
Prior to the roll call vote, Magofna provided senators with a recap of all actions taken in response to the land lease proposal. She said the bicameral committee requested the company to provide updated financial documents to determine its suitability to lease the Marpi property and operate a new hotel.
On June 9, 2025, Mariana Eland Corp. submitted to the Department of Public Lands the following information:
– Its audited financial statements were not available.
– Its investment in the CNMI totals $128 million for Kensington, PIC, and Coral Ocean.
– Its updated business gross forecast projects a 50% decrease during the initial three to four years of operation, with 20% adjustments thereafter.
The resolution stated that Mariana Eland Corp.’s bank certificates of deposit only show that the company “may have monies saved in a bank.” The deposits fail to indicate the company’s liabilities and expenditures, which would demonstrate financial transparency, clarity, and overall financial wellness, supporting its financial suitability.
“It is in the CNMI and the public’s best interest that the Legislature proceed with transparency and confidence in the long-term viability of the Mariana Eland Corp. lease. The joint committee’s efforts intended to ensure that appropriate documentation was provided to and reviewed by the committee so it could make an informed decision based on verified financial information. This approach protects both the public interest and the integrity of the investment process. However, without financial statements, the joint committee and the Senate cannot determine the true financial health of Mariana Eland Corp. or whether Mariana Eland has the financial resources and capability to take over, improve, manage, and operate the Mariana Resort & Spa properties,” the resolution stated.
Senate President Karl King-Nabors thanked the bicameral committee members for their due diligence and efforts, adding that they conducted public hearings to listen to community members affected by the lease proposal.
