Crowne Plaza Undergoing Resurgence of U.S. Hotel Portfolio

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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