InterContinental the owners of IHG properties throughout Latin America and the Caribbean are investing a total of $95 million to upgrade, expand and renovate their hotels. Renovations began in 2005 and will be completed by the end of 2007.
A total of 22 properties will be renovated which will range from upgrades to the physical plant to complete transformations of the property.
“Our owners have made a significant and comprehensive investment in their hotels,” says Alvaro Diago, Area President, IHG Latin America. “They recognize the necessity to consistently upgrade their hotels to ensure that guests’ needs are not only being met, but exceeded. Their combined $95 million investment reflects their commitment to provide the highest quality hotel offering living up to IHG’s brand standards.”
IHG is the second largest hotel operator in Latin America, with a total of 60 hotels in 18 countries. IHG has consistently helped shape the region’s hospitality industry throughout its six decades in Latin America with innovative strategies - from hotel properties within mixed-use developments and convention centers, to the recent announcement to open the first Holiday Inn Hotel and School in Latin America, which will be located in Panama City.
Over the years, the region has experienced rapid expansion of the upscale Crowne Plaza brand, the mid-scale Holiday Inn brand and the fast-growing Holiday Inn Express brand.
“We applaud our owners for their pro-activity and foresight,” concludes Diago. “Their properties are already among the leading hotels in their respective markets. The renovations and expansions further their position all the more.”