News for the Hospitality Executive
MHI Hospitality Opens the Crowne Plaza(R) Tampa Westshore
Following Completion of an Extensive 16-month Repositioning
WILLIAMSBURG, Va., March 10, 2009 - MHI Hospitality Corporation (Nasdaq: MDH) announced today that the Company has opened the Crowne Plaza(R) Tampa Westshore in Tampa, Florida. This follows the completion of an extensive 16-month repositioning of the property in line with a 10-year franchise agreement with InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] through its franchising entity, Holiday Hospitality Franchising, Inc.
The 11-story hotel underwent a renovation of both the interior and exterior. The newly reconfigured asset features 222 guest rooms including 44 Cabana suites, as well as 10,000 square feet of flexible meeting and pre-function space; a 6,500 square foot signature restaurant lease space; an outdoor pool, and approximately 250 surface parking spaces. The hotel is situated on 3.82 acres in Tampa's Westshore Corridor, the city's corporate, entertainment, restaurant and shopping district, and is within two miles of Tampa International Airport. It is located at 5303 West Kennedy Blvd.
Andrew M. Sims, President and CEO of MHI Hospitality Corporation, stated, "We are very pleased to announce the opening of the Crowne Plaza Tampa Westshore. This completely repositioned hotel is a classic example of our portfolio model in terms of full service amenities, value and strategic location. As the asset gains increasing traction in the Florida Gulf market, the Crowne Plaza Tampa Westshore should compete very effectively."
Crowne Plaza has been recognized by Lodging Hospitality magazine as one of the industry's top growing hotel brands. As part of the IHG global portfolio, the Crowne Plaza Tampa Westshore is one of more than 300 hotels in nearly 60 countries.
About MHI Hospitality Corporation
MHI Hospitality Corporation is a self-advised lodging REIT focused on the acquisition, redevelopment and management of mid-scale, upscale and upper-upscale full-service hotels in the Mid-Atlantic, Midwest and Southeastern United States. Currently, the Company's portfolio consists of nine properties comprising 2,113 rooms, all of which operate under the Hilton, InterContinental Hotels Group and Starwood Hotels and Resorts brands. In addition, the Company has a 25 percent interest in the Crowne Plaza Hollywood Beach Resort and a leasehold interest in the common area of Shell Island Resort, a resort condominium property. MHI Hospitality Corporation was organized in 2004 and is listed on the Russell Microcap(TM) Index. The Company is headquartered in Williamsburg, Virginia. For more information please visit www.mhihospitality.com.
MHI Hospitality Corporation
|Also See:||MHI Hospitality Corp Acquires the 250-room Former Clarion Hotel in Tampa, Florida for $13.5 million, $54,000 per room; Planning a $20 million Renovation and a Crowne Plaza Rebranding / October 2007|