HALEIWA, Hawaii, April 25 /PRNewswire-FirstCall/ -- Hawaiian
Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of
sustainable land use solutions and event services, has entered into
negotiations to acquire an established wedding planning company.
Hawaiian Hospitality Group currently produces weddings, corporate
events and photo shoots at its signature eco-friendly Loulu Palm
Estate event venue. Acquiring the full service wedding planning
business would enable Hawaiian Hospitality Group to increase its
focus on high-end weddings, increase bookings, improve profit
margins, expand service offerings and augment revenue.
Hawaiian Hospitality Group is negotiating the acquisition of a
leading provider of wedding planning services with extensive
experience serving Hawaii's
thriving wedding market. Since 2004 the targeted acquisition has
successfully planned and coordinated destination weddings and
events for couples locally and across North America. Internationally the company has
provided wedding and event planning services to clients from
countries including Japan,
England, China, Australia and the United Arab Emirates. The company has
significant market share, a highly experienced management team and
supporting staff, and a sterling reputation among both clients and
vendors.
Scott Francis, Hawaiian
Hospitality Group's President of Operations, commented: "We are
extremely excited about the possibility of bringing this company
into Hawaiian Hospitality Group. Owning our own established,
well-known wedding planning business will expand our wedding
operations and enable us to keep a larger portion of the profits
from events, particularly for the high-end weddings which are their
core business. This is an excellent opportunity to fuel our growth
as a full service event provider with our own very unique Loulu
Palm Estate venue."
Hawaiian Hospitality Group's Loulu Palm Estate property has
become a premier venue for weddings and other special events on
Oahu's prestigious North Shore.
Loulu Palm Estate began operations in 2009 as a destination wedding
site with immediate cashflow from venue fees and event services.
The company has already booked 100 events this year and 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.