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Crowne Plaza Undergoing Resurgence of U.S. Hotel Portfolio

Posted July 14, 2009 , trackback

 InterContinental Hotel Group’s Crowne
Plaza brand is undergoing a resurgence of its Americas hotel
portfolio this year through the investment of a quarter billion
dollars in major renovations by hotel owners.

“We’ve seen a period of incredible
growth over the past few years, mostly with conversion
properties,” said Gina LaBarre, vice president, Brand Management,
Crowne Plaza Hotels & Resort—the Americas. “To become even
stronger players in the market, we’re elevating the brand a step
further through a resurgence of major property renovations.”

By the end of 2009 it is expected that up to 50%
of today’s Crowne Plaza portfolio in the U.S. will be completely renovated.

Approaching its twenty-year
anniversary, the Crowne Plaza in New York City’s Times Square
recently underwent an $85 million renovation.

“The hotel has been able to achieve double digit RevPAR
Index gains every month in 2009,” said Nan Molofsky, senior vice
president, City Investment Fund, the ownership group for the
hotel.

The Crowne Plaza Old Town Alexandria in
Washington, D.C., completed renovations in March 2008 and has seen
proof that modernization is key in stealing share from
competitors.

“We renovated our guest rooms,
meeting space, restaurant and lobby,” said Hammad Shah, vice
president, Asset Management, Carr Hospitality. “After just one
year we have seen 11 straight months of positive RevPAR Index
growth.”

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