Business
Hawaiian Hospitality Group Acquires Submarine Tour Company, Expands Services and Increases Revenue Potential
Hawaiian Hospitality Group Acquires Submarine Tour Company, Expands Services and Increases Revenue Potential.
About this update from Hawaiian Hospitality Group Inc
[{"type":"text","content":"Hawaiian Hospitality Group, Inc. (Pink Sheets: HHGI), a growing provider of sustainable land use solutions and event services, successfully completed the acquisition of Submersible Technical Services, LLC on September 15, 2010. The acquisition will enable Hawaiian Hospitality Group to expand its service offerings to include highly sought after underwater island tours and significantly increase its revenue potential this year. Submersible Technical Services will operate as a wholly owned subsidiary of Hawaiian Hospitality Group providing submarine tours of Hawaii’s breathtaking marine ecosystems. Submersible Technical Services is a development-stage company engaged in the design, manufacture and operation of personal, one to four person submersible vehicles for diving, fishing and sightseeing excursions. Headquartered in Las Vegas, Nevada, the company will operate out of principal offices on the island of Oahu near the oceanfront Ko Olina Resort, a world-renowned luxury getaway. Ms. Renee Leong, CEO of Hawaiian Hospitality Group, commented: “The acquisition of Submersible Technical Services will enable Hawaiian Hospitality Group to provide a unique experience for visitors to the Hawaiian Islands, add a new revenue stream, and increase our standing as a premier provider of destination services. Submersible Technical Services is an excellent fit with our business model and we believe it will contribute positively to our growth this year.” Hawaiian Hospitality Group also operates a popular venue for weddings and events on Oahu’s prestigious North Shore. The Company’s Loulu Palm Estate began operations in 2009 as a destination wedding site with immediate cash-flow from venue fees and event services. 2010 sales and bookings for Loulu Palm Estate have increased significantly and additional growth is expected. 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 generate profitable enterprises while res...