HALEIWA, Hawaii, April 27 /PRNewswire-FirstCall/ -- Hawaiian
Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of
sustainable land use solutions and event services, has identified
an additional development opportunity. The company is in talks with
a private landholder to co-develop a coastal property on
Oahu's North Shore. Hawaiian
Hospitality Group's first development project, the Loulu Palm
Estate, is a full-service, eco-friendly destination venue which
hosted 70 events last year.
Hawaiian Hospitality Group specializes in identifying private
and public land holdings and entering into partnerships for the
expert development and operation of eco-tourism facilities and
sustainable recreational concessions. The company works with local,
state, and federal government entities including the Office of
Conservation and Coastal Lands and designs and operates
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. The result is the
fulfillment of government preservation mandates and the creation of
event services income for Hawaiian Hospitality Group and landowner
partners.
The company has entered into negotiations with a private
landholder to co-develop a beachfront property on Oahu with multiple lots. If both parties agree
to proceed, Hawaiian Hospitality Group sees potential for multiple
private homes as well as a site for weddings and other events. The
company would perform lot line adjustments to maximize properties
along the beachfront. The project offers many opportunities for
green engineering including passive solar design, solar power
systems, rainwater collection and environmentally conscious
building practices.
Scott Francis, Manager of Loulu
Palm Estate commented: "Word has spread regarding our success
bringing sustainable development and eco-friendly commercial
operations to Hawaii's dormant
properties. Hawaiian Hospitality Group has been approached with a
co-development opportunity that we believe could have tremendous
potential for our company and our shareholders. We believe our
environmental engineering capabilities along with our land use
permitting process expertise make Hawaiian Hospitality Group the
ideal developer for this and other coastal projects."
Hawaiian Hospitality Group recently announced 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 to date for 2010.
In 2009 the company hosted 70 events at its flagship property and
expects to book as many as 125 events 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.
SOURCE Hawaiian Hospitality Group, Inc.