Castle Group plans to grow outside Hawaii - Pacific Business News (Honolulu):

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The Honolulu-based company reported profitsof $99,658 for the firsft quarter ended March 31, up 405 percenrt from $19,702 in the same periodd last year. Revenues of $6 were up 21 percent from $5 millioh during the first quarterof 2007. The revenue increasews resulted from new propertiesunder contract, the strengt h of the New Zealand dollar and changea in rates and occupancy at Castle's properties, the companty said. "We have recently observed a change in demand for hotel roomds at properties on allHawaiian islands," said Alan Mattson, chief operatin g officer, in a statement.
"This is primarilhy due to three factors: overall economic conditions, the loss of two significantf airlines with their lift into Hawaii and increased airfarezs on the part of theother carriers. On the othedr hand, our expansion into Micronesia, New Thailand and Vietnam should tend to offse the impact of this trendf forour company." The Castle Group is a holding companyy for , which manages hotels and condominiums in Micronesia, Thailand, New Zealand, Guam and