News for the Hospitality Executive
Hawaii-based Hotel Management Company Castle Resorts &
Hotels Adds Two
Management Contracts in Thailand - The Katamanda in Phuket and
Baan Taling Ngam Resort & Spa in Koh Samui
|HONOLULU - January 16, 2008 - The Castle Group, Inc. (OTCBB:CAGU)
today announced that its subsidiary, Hawaii-based management company Castle
Resorts & Hotels, has expanded into Thailand with two new luxury resorts,
Katamanda in Phuket and Baan Taling Ngam Resort & Spa in Koh Samui.
These two additions bring Castle Resorts & Hotels’ inventory count
up to 26 properties throughout Hawaii, Micronesia, New Zealand and Thailand.
“Entering Thailand is an exciting new development of our company’s strategic expansion into Southeast Asia,” said Alan Mattson, president and chief operating officer of Castle Resorts & Hotels. “The consummation of these two management agreements in Thailand tops an incredibly successful year of growth for us. We plan to continue this aggressive expansion of our global presence from our Hawaii-based headquarters in 2008.”
In the past year, Castle Resorts & Hotels has acquired six management contracts. In 2007, Castle was also awarded contracts for Maile Sky Court, Queen Kapiolani Hotel and Ocean Resort Hotel Waikiki on Oahu; and the Hotel Santa Fe in Guam.
Baan Taling Ngam
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 and Koh Samui; in Micronesia on Guam and Saipan; and in New Zealand on the North Island. For more information or reservations, please call 1-800-367-5004 or visit www.CastleResorts.com. The Castle Group does not assume any obligation to update the information contained in this press release.
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 outlined in the Company's periodic filings with the U.S. Securities and Exchange Commission.
|Also See:||Castle Resorts & Hotels Acquires New Contract with Queen Kapiolani Hotel in Waikiki / December 2007|