The JW Marriott Ihilani hotel at Ko Olina Resort & Marina will close next year and be converted into another luxury hotel likely under the Four Seasons name.

Jeff Stone, Ko Olina’s master developer, is informing employees of the JW Marriott that his company will be repurchasing the hotel after Marriott’s management agreement expires at the end of this year.

Ko Olina is buying the hotel from New York-based investment firm Cornerstone Real Estate Advisers.

Stone, in a letter to Ihilani workers dated Thursday, said the hotel will be closed throughout 2015 and reopen under “one of the top luxury resort brands in the world.”

Canadian-based Four Seasons Hotel & Resorts registered a new business in Hawaii named FS Ko Olina Inc. earlier this year, while the trade name Four Seasons Resort Ko Olina at Lanikuhonua was registered by a Stone company.