A Denver-based real estate investment and development company said it is buying the Hotel Hana-Maui and plans to cut an unspecified number of jobs.

The buyer, privately held Amstar Group LLC, said it expects the deal to close in May. Amstar subsidiary Green Tea LLC will manage the property.

Terms of the sale were not disclosed. Amstar said it expected to lay off an undetermined number of employees in the short term as it revamps operations at the hotel.

" A change in the existing operational model is critical to turning the hotel around and into a viable operation," Joe Berry, president of Green Tea said in a news release.

"Out revamped organizational structure will take a team approach requiring employees to have more than one role, so that no matter the task, we all work together and help each other out to ensure the long-term viability and success of the hotel and more jobs for the community," Berry said.

Sen. J. Kalani English, D-6th, (East Maui, Moloka'i, Lana'i) welcomed news of the sale.

"I am very happy to welcome Amstar and its subsidiary, Green Tea LLC, to the Hana community," English said.

"All of Hana has experienced the uncertainty surrounding the Hotel Hana-Maui's financial condition, and I think we are all extremely satisfied with the plans we have seen for the hotel's future."