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Posts Tagged ‘Holiday Inn’

Sheraton to open Tuesday in Stamford

Saturday, July 9th, 2011
Sheraton Stamford Hotel

Converting from Holiday Inn: Move coincides with arrival of Starwood Hotels in December.

Michael Bennett and his staff at the Holiday Inn in Stamford are counting the days until they can welcome patrons to the new Sheraton Stamford Hotel.

Bennett, general manager of the hotel, has been shepherding his 135-person staff through the conversion into a Sheraton Stamford Hotel. Starwood Hotels & Resorts International, which owns the Sheraton brand, is moving its headquarters to Stamford at the end of the year.

A ribbon cutting will be held on Tuesday at the 379-room hotel at 700 E. Main St.

Built 26 years ago, the Holiday Inn underwent a $23 million renovation when Davidson Hotels & Resorts and RockBridge Capital bought the property three years ago.

Starwood is spending $3 million in the conversion process, Bennett said. He and the staff will remain Davidson employees.

With its 20,000 square feet of meeting space, the hotel is … Read the rest

Crown’s $281m plans for Burswood

Wednesday, May 11th, 2011
Crown Promenade Perth

CROWN Limited's spending $281 million so the Burswood resort can acquire the neighbouring Crown Promenade Perth and expand the casino's gaming floor and VIP suites.

Crown said it will restructure the existing relationship it has with the Intercontinental Hotel Group, allowing the acquisition of the Crown Promenade Perth building and associated assets and dissolve the partnership under which the Intercontinental and Holiday Inn hotels are operated.

This, Crown said, means Burswood will be entitled to a greater share of hotel profits.

Burswood already owns the land on which the Holiday Inn hotel building is located.

“The total cost of acquiring the Crown Promenade Perth buildings and associated assets plus the costs of dissolving the partnership will be approximately $79 million, subject to usual sale adjustments,” the company said.

The deal, which is subject to a number of regulatory conditions, is expected to be completed early in July 2011.

Crown’s board … Read the rest

Amherst Holiday Inn changing hands

Friday, April 1st, 2011
Holiday Inn Buffalo Amherst

A Holiday Inn along Niagara Falls (Holiday Inn Buffalo Amherst) is now officially in the hands of a mortgage servicing agency and the company will likely put the hotel up for sale.

According to documents filed in the Erie County Clerk’s office, 1881 Niagara Falls Boulevard Holdings LLC, an affiliate of the Maryland-based CW Capital Asset Management, has acquired the 199-room Holiday Inn from WPH Amherst Associates, an affiliate of Cheektowaga’s Hart Hotels Inc.

On paper, 1881 Niagara Falls Boulevard Holdings LLC paid $10.51 million for the hotel, but in reality, Hart Hotels voluntarily offered the deed to the service in lieu of any foreclosure proceedings connected with the property. The deal gives CW Capital clean title to the property and clears the path for a likely sale, although no sale date has been set.

The deed filing officials shifts the hotel’s ownership away from Hart Hotels to the CW Capital … Read the rest

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