Last week, the Hawaiian Castle Group wrote to about 250 investors to say the hotel ( the North Shore's tallest new tower, the 23-level
Monday, June 24th 2002, 4:23PM
by The Landlord
Spencer On Byron) was suffering financially through a combination of circumstances, including the effects of September 11 on tourism and various airline collapses. Wall said that although the hotel was not performing as expected, this was nothing to do with Castle. The Hawaiian giant was quite entitled not only to halve the payments on what had been "guaranteed" to investors, but theoretically to demand a return of payments made since the hotel opened.
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