HALEIWA, Hawaii, May 18 /PRNewswire-FirstCall/ -- Hawaiian
Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of
sustainable land use solutions and event services, is pleased to
report on the development and ongoing revenue of its first
sustainable destination property. Hawaiian Hospitality Group has
developed a unique, eco-friendly event venue on Oahu's North Shore. 2010 sales and bookings
for its Loulu Palm Estate have increased significantly over last
year and additional growth is expected.
Scott Francis, Manager of Loulou
Palm Estate, commented, "In just one year, Loulu Palm Estate has
become one of the most sought after event locations on Oahu. Bookings are up 43% over last year. We
developed an eco-friendly destination venue and nature park, built
a thriving event business, and dramatically increased sales within
in a very short timeframe. We believe we will be able to repeat
this strategy on other coastal parcels on the Hawaiian Islands,
enabling Hawaiian Hospitality Group to generate additional cash
flow and expand our share of Hawaii's lucrative event market."
Hawaiian Hospitality Group successfully restored a site with one
mile of private beachfront on Oahu's prestigious North Shore coastline to
create its flagship development property, the Loulu Palm Estate. In
only a few short months the team refurbished the site's main
structure, capitalizing on its original 1941 plantation-style
elegance. The company also revitalized the surrounding ecological
habitat to create a harmonious private park and facility for
commercial use. By successfully negotiating an easement across
public land seaward of the estate the company was able to secure
private beach access. Strategically located just 30 minutes from
downtown Honolulu, the property
has become an increasingly popular venue for weddings and corporate
events as well as a film and production location.
Loulu Palm Estate began operations in 2009 as a destination
wedding site with immediate cashflow from venue fees and event
services. Last year it hosted 70 events. This year Hawaiian
Hospitality Group, through its wholly owned Loulu Palm Estate LLC
subsidiary, has already booked 100 events, achieving a 43% sales
increase over last year. The company expects to host up to 125
events in 2010 and has begun booking for 2011.
About Hawaiian Hospitality Group, Inc. (HHGI.PK)
Hawaiian Hospitality Group, Inc. is a growing provider of
sustainable land use solutions and event services. The company
draws on environmental engineering expertise to identify, design,
develop and operate destination sites that provide environmental
and commercial revitalization for Hawaii's coastal properties. Hawaiian
Hospitality Group employs innovative approaches to land use that
create profitable enterprises while restoring and preserving the
beauty and natural resources of the Hawaiian Islands. The company
generates revenue from venue fees, catering services, wedding
planning and other services on the destination sites it develops,
maximizing value while minimizing the ecological footprint of its
operations.
This Press Release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. HHGI has tried, whenever possible, to
identify these forward-looking statements using words such as
"anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential" and similar expressions. These statements
reflect HHGI's current beliefs and are based upon information
currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
the HHGI's actual results, performance or achievements to differ
materially from those expressed in or implied by such statements.
HHGI undertakes no obligation to update or advise in the event of
any change, addition or alteration to the information catered in
this Press Release including such forward-looking statements.
SOURCE Hawaiian Hospitality Group, Inc.
