HALEIWA, Hawaii, April 16 /PRNewswire-FirstCall/ -- Hawaiian Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of sustainable land use solutions and event services, is pleased to report that event sales at its Loulu Palm Estate development property are up 43% over last year. Hawaiian Hospitality Group, through its wholly owned Loulu Palm Estate LLC subsidiary, has booked 100 events as of March 23, 2010. In 2009 the company hosted 70 events at its flagship property and expects to book as many as 125 events this year.
Hawaiian Hospitality Group developed its first sustainable destination property, the Loulu Palm Estate, in 2008. In 2009 the plantation-style nature park and event venue hosted 70 events including weddings, corporate meetings and photo shoots. The company generated $179,847 in venue fees alone. With 100 events booked to date for 2010, Hawaiian Hospitality Group projects significant revenue increases from added venue fees as well as from additional services including catering and wedding planning.
Scott Francis, President/CEO of Hawaiian Hospitality Group, commented: "Hawaiian Hospitality Group is making excellent strides. Our signature Loulu Palm Estate property is becoming a premier venue for weddings and other special events on the North Shore. Sales are increasing dramatically due to our marketing efforts and growing reputation as a unique, eco-friendly destination on Oahu's exquisite coastline. We anticipate further sales growth as we expand service offerings and develop additional venues. We have begun booking for 2011 as well."
Hawaiian Hospitality Group works with local, state, and federal government entities including the Office of Conservation and Coastal Lands to design and operate environmentally friendly for-profit projects on previously inaccessible coastal lands. The company negotiates workable development agreements and easements that include native habitat restoration and ecosystem preservation components along with unique recreational opportunities. The result is the fulfillment of government preservation mandates and the creation of event services income for Hawaiian Hospitality Group and landowner partners.
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.
http://www.hawaiianhospitalitygroup.com/
Hawaiian Hospitality Group, Inc.
CONTACT: Investor Relations of Hawaiian Hospitality Group, Inc.,
+1-808-744-7211, investor.relations@hawaiianhospitalitygroup.com
Web Site: http://www.hawaiianhospitalitygroup.com/
