News for the Hospitality Executive
Innisfree Obtains $31 million Loan for Site Acquisition
of a 160-room Beachfront Hotel Orange Beach, Alabama
Pensacola, Fla. (October 2, 2009) — Balmaquien Hospitality, LLC, an Innisfree affiliate, has closed a $31 million loan for the acquisition of a 2.6 acre site and construction of a nine-story, 160-room beachfront hotel in Orange Beach. The site is located directly across from the Shoppes at Palm Pointe and will feature garage parking, a pool bar and dune walk-over. Additional amenities include a second floor fitness center with Gulf of Mexico views, 5000 square feet of gulf front meeting space and an indoor pool.
Innisfree is in the process of selecting a general contractor and franchise for the hotel, and an announcement is expected in the next few weeks.
In 1987 Julian MacQueen, founder and chief executive officer of Innisfree
Hotels, built the first hotel in Orange Beach, a 94-room Days Inn. He currently
owns two Orange Beach hotels: Holiday Inn Express and Hilton Garden Inn.
MacQueen also developed three condominium projects in the area and owns
the Hilton Pensacola Beach Gulf Front and Hampton Inn on Pensacola Beach.
Robert Ingram, president of the Baldwin County Economic Development Alliance, also is optimistic about the impact of the new hotel. “Tourism is a huge driver of the Baldwin County economy, as is construction, and the Baldwin County Economic Development Alliance is excited that Innisfree Hotels is going to build a facility in Orange Beach which will enhance our tourism efforts, provide short and long term jobs and flow new dollars through our economy,” Ingram said.
After its completion in early 2011, the hotel will employ more than 75 people. The hotel will add another 5000 square feet of meeting space to the beach’s current inventory which is also expected to help bring additional business to Orange Beach.
“Innisfree Hotels has had a longtime corporate presence in our beach destination,” said Herb Malone, president and chief executive officer of the Alabama Gulf Coast Convention and Visitors Bureau. “The addition of another quality Innisfree property in Orange Beach will add to our constantly growing lodging inventory. We look forward to welcoming even more families to our area with this new hotel property.”
Innisfree began construction of a 206-room Holiday Inn on Pensacola Beach last month and will start construction for the Orange Beach hotel in November 2009.
Innisfree Hotels is a professional hotel management and development company currently expanding its portfolio of hotels and commercial properties. The company also provides professional management of full service hotels, limited service hotels, resorts and boutique hotels. Innisfree Hotels operates properties throughout the southeast United States. For more information, visit: www.innisfree.com.
Alison Griffith, Ideawörks