Hotel group signs franchise agreement with MSREF Fund
InterContinental Hotels Group will add another Crowne Plaza hotel to its Australian portfolio, following completion of a franchise agreement with Morgan Stanley's MSREF Fund to rebrand the hotel at the iconic Royal Pines Resort on Queensland's Gold Coast.
A A$16 million refurbishment programme is currently underway at the resort, which will become Crowne Plaza Royal Pines Resort from 15 December 2006. The current resort manager, Morgan Stanley Japan subsidiary Panorama Hospitality, will operate the hotel under the Crowne Plaza brand. The resort's existing sales. marketing and reservations will be complemented by InterContinental Hotels Group's extensive national and international presence.
'This agreement adds a new element to our offering for Crowne Plaza's conference and leisure guests in Australia. This hotel development fits perfectly with our strategic direction for Crowne Plaza to be the best hotel brand for meetings and conferences in Asia Pacific,' said InterContinental Hotels Group Chief Operating Officer Australia, New Zealand and South Pacific, Keith Barr.
In addition to the 331-room Crowne Plaza, the Royal Pines Resort includes a purpose-built convention centre featuring a pillarless ballroom with full vehicle access that caters for up to 1,800 people, a business centre and 12 meeting rooms. Both the hotel and the convention centre are situated within the Royal Pines Resort's 27 hole championship golf course.
'The Royal Pines Resort is one of the best in Australia, and this agreement is another example of our strategy to establish the Crowne Plaza brand in premier locations for meetings and leisure. It will join other recently-established Crowne Plaza hotels in Melbourne, Queenstown and the Hunter Valley, further cementing the brand's reputation as The Place To Meet for business and relaxation,' Mr Barr added.
Panorama Hospitality President, Rob Wilson said: 'We are looking forward to working with InterContinental Hotels Group on the next stage in the evolution of this resort. With an extensive refurbishment underway and the addition of the Group's excellent international sales and marketing capabilities, this property will be positioned as a world-class leisure and conference destination.'
Located at the heart of the Gold Coast between Surfers Paradise and the Hinterland, the resort is situated on more than 200 hectares of landscaped gardens and a short drive away from the region's natural attractions and theme parks.
The world's largest hotel Company by number of rooms, InterContinental Hotels Group currently operates 49 InterContinental, Crowne Plaza, Holiday Inn and locally-branded hotels and resorts across Australia, New Zealand and the South Pacific.
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