Media and PR

FOR IMMEDIATE RELEASE
July 14, 2006

CASTLE RESORTS & HOTELS NAMED AS NEW MANAGEMENT COMPANY FOR HOKELE SUITES WAIKIKI

Honolulu, Hawaii -- Castle Resorts & Hotels announced today the addition of Hokele Suites Waikiki (formerly Marc Waikiki Suites) on Oahu to its growing resort management portfolio.  The 114 all-suite hotel will transfer management hands as of October 1, 2006.  Castle will handle all aspects of management for the resort including operations, accounting, sales, marketing, and reservations.

Hokele Suites Waikiki will undergo a $4.5 million phased renovation starting this summer and continuing into 2007.  The hotel owner, Iwasaki Waikiki, Inc., in consultation with Horwath Asia Pacific (Hawaii), appointed INK Architects as the architecture firm and ADI Design Group as the interior designer.  The new interior design will be vibrant and contemporary with a tropical motif inspired by the natural elements abundant in Hawaii such as ocean, waterfalls, sky, flowers, ferns, lava and rock.  The warmth of rich textured woods, natural stones and the multiple hues of nature and the environment will complement the overall design.  The result will be a repositioning of the hotel from a two-star budget property to a three-star boutique hotel.

“The addition of Hokele Suites Waikiki complements our existing inventory and fills a niche that is in demand on Oahu,” said Alan R. Mattson, president of Castle Resorts & Hotels.  “Castle is known for offering value and variety ensuring that we have a hotel or condominium that suits all ages, budgets and lifestyles.  Hokele Suites Waikiki will provide one more option for our guests on Oahu.”

Castle Resorts & Hotels manages hotels and condominiums on the islands of Oahu, Maui, Kauai, Molokai and the Big Island of Hawaii; on the islands of Guam and Saipan in Micronesia; and in Auckland, on New Zealand’s North Island.  Castle Resorts & Hotels is a subsidiary of The Castle Group, Inc. which was founded in 1994.

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