HALEIWA, Hawaii, July 28 /PRNewswire-FirstCall/ -- Hawaiian
Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of
sustainable land use solutions and event services, is successfully
executing its strategy to drive growth and revenue via acquisitions
and the expansion of current operations. Hawaiian Hospitality Group
is pursuing acquisitions of niche service companies that will
enhance its growing event business, achieving dramatic sales
increases from its Loulu Palm Estate operations, and negotiating
for additional development properties.
Hawaiian Hospitality Group's first development project, the
Loulu Palm Estate, is a full-service, eco-friendly destination
venue on Oahu's prestigious North
Shore. Loulu Palm Estate is now in its second year of operations.
The plantation-style nature park and event venue hosted 70 events
including weddings, corporate meetings and photo shoots in 2009.
Hawaiian Hospitality Group has booked 100 events to date for 2010
and expects to host up to 125 this year. The company is focusing
its marketing efforts on increasing its share of Hawaii's lucrative wedding business.
The company is also evaluating additional sites where
sustainable commercial operations could be developed on previously
inaccessible parcels of coastal land. Hawaiian Hospitality
Group has identified an additional development opportunity and is
in talks with a private landholder to co-develop a coastal property
on Oahu's North Shore. The site
has the potential for multiple private homes as well as a
commercial event venue. Restoring native vegetation and employing
sustainable construction practices would be key components of the
development process.
Hawaiian Hospitality Group is also targeting acquisitions of
niche companies to expand its event business. The company intends
to acquire established local event services companies that will
enable Hawaiian Hospitality Group to offer a wider range of
services, establish advantageous pricing and improve profit margins
by producing full-service events. The company is in talks with
local companies that offer complementary services and have
excellent reputations, skilled managers in place and ongoing
revenue.
Scott Francis, Manager of Loulu
Palm Estate commented: "We believe the best way to enhance Hawaiian
Hospitality Group's top and bottom line growth is to increase sales
and profitability at our signature Loulu Palm Estate property,
acquire the best local event services companies, and develop
additional venues. We are pleased with the execution of our
strategy thus far and see tremendous opportunities to drive revenue
and shareholder value this year."
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.
www.hawaiianhospitalitygroup.com
SOURCE Hawaiian Hospitality Group, Inc.