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Hawaiian Hospitality Group Negotiating for Additional Development Property
Hawaiian Hospitality Group Negotiating for Additional Development Property
PR Newswire
HALEIWA, Hawaii, April 27
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.
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