News for the Hospitality Executive
Castle Resorts & Hotels Acquires New Contract
with Queen Kapiolani Hotel in Waikiki
HONOLULU - December 13, 2007 - The Castle Group, Inc. (OTCBB:CAGU) today announced that its subsidiary Castle Resorts & Hotels has been selected as the management company for the Queen Kapiolani Hotel to handle sales, marketing and reservations, effective December 1, 2007.
“The addition of Queen Kapiolani Hotel to our portfolio follows our strategic growth plan of increasing our inventory both internationally and in Hawaii,” said Alan Mattson, president and chief operating officer of Castle Resorts & Hotels. “Our presence in Waikiki has more than doubled in the past year with the addition of over 1,300 rooms to our Waikiki inventory during 2007.”
This is Castle’s fifth Waikiki hotel and continues a pattern of consistent and strategic growth for the company. Earlier this year, it was also awarded contracts for Maile Sky Court and Ocean Resort Waikiki on Oahu and for Hotel Santa Fe in Guam. By the end of 2007, it will also manage two properties in Thailand. These additions increase Castle’s portfolio to 26 hotels and condominium resorts throughout Hawaii, Micronesia, New Zealand and Thailand.
Named for Hawaii’s beloved Queen Kapiolani, the 315-room hotel is located at 150 Kapahulu Avenue. The hotel offers breathtaking views of Oahu’s two most famous landmarks – Diamond Head and Waikiki Beach. It is also conveniently located near popular attractions including Waikiki Aquarium and Honolulu Zoo. Queen Kapiolani Hotel offers a variety of options for travelers, including standard guest rooms, studios with kitchenettes and one-bedroom suites. Guests will enjoy the Garden Lanai Restaurant, which serves breakfast, lunch and dinner. For those seeking meeting facilities, the Garden Lanai Restaurant, Peacock Dining Room and Akala Ballroom are available.
Castle Resorts & Hotels was founded in 1994 and is a wholly-owned subsidiary of The Castle Group, Inc. Castle manages a broad portfolio of resort accommodations ranging from hotel guest rooms to spacious resort condominium suites and villas in the Hawaiian Islands on Oahu, Maui, Molokai, Kauai and Hawaii; in Thailand on Phuket; in Micronesia on Guam and Saipan; and in New Zealand on the North Island.
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward looking statements are based upon the current plans, estimates and projections of The Castle Group's management and are subject to risks and uncertainties which could cause actual results to differ from the forward looking statements. These include, but are not limited to, risks and uncertainties related to the Company’s strategic growth plan and other risks and uncertainties outlined in the Company's periodic filings with the U.S. Securities and Exchange Commission. The Castle Group does not assume any obligation to update the information contained in this press release.
CASTLE RESORTS & HOTELS
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