InterContinental Hotels Group (IHG) (LSE:IHG) (NYSE:IHG) (ADRs), one of the world’s leading global hotel companies, today announced the latest addition to the growing Crowne Plaza® Hotels & Resorts portfolio with the signing of the Crowne Plaza Panama Airport hotel. The new-build, 126-room hotel is expected to open in February 2015 and will be the second Crowne Plaza hotel in Panama.
Located conveniently near Tocumen International Airport, the Crowne Plaza Panama Airport hotel will be part of the Global Business Terminal, a 520,000 square foot modern complex with eight office towers, an exhibition hall, a conference center and parking facilities for more than 700 vehicles. Maintaining the Crowne Plaza brand’s reputation as the ideal choice for meetings and events, the hotel will offer 3,000 square feet of flexible meeting space, as well as a restaurant, bar, business center, two retail shops and an outdoor swimming pool.
“This hotel’s location in a global business hub near a major international airport makes it a perfect fit for the Crowne Plaza brand,” said Joel Eisemann, chief development officer, IHG, the Americas. “We know our guests need to be productive when they’re on the road for work, and our hotels offer the service and amenities that enable them to be successful.”
The Crowne Plaza Panama Airport hotel is a franchise agreement with Bern Hotels & Resorts, which owns the existing InterContinental Miramar Panama, InterContinental Playa Bonita Resort & Spa, Crowne Plaza Panama and Holiday Inn Panama Canal hotels. IHG currently has five hotels and 971 rooms open in Panama, with another two hotels (248 rooms) in the pipeline (as of Dec. 31, 2013).“This marks our fifth project with longstanding IHG partner Bern Hotels & Resorts. The company has an excellent reputation in the region and we look forward to continuing to grow our relationship with them,” said Alvaro Diago, chief operating officer, Latin America and Caribbean at IHG. “We feel that a Crowne Plaza hotel will work very well in this market as it offers a combination of premium accommodations and great service that will enable business travelers to have a successful trip.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV