Newcrest Management, LLC acquired the full-service Holiday Inn Hotel and Denny’s Restaurant in 2000 as an opportunity acquisition. The property suffered from severe deferred capital improvements and was considered to be a marginal performer at best by its prior owner and its franchise partner. The property’s most significant asset was its loyal & long-tenured staff, the majority of whom had been with the hotel over 10 years.

Our company implemented a comprehensive renovation of the interior and exterior of the property. The re-energized staff worked closely with our corporate management to re-capture guests that had drifted away. Revenue soared.

Holiday Inn recognized the hotel with its coveted Quality Excellence Award as the “Best in Class” of all nine full-service Holiday Inns in the state of Arkansas. Our consistently stellar customer satisfaction ratings, and the operations refinements we instituted, allowed us to remain in first place for 3 consecutive years. The property was sold in 2003.

This investment laid the foundation for the mutually-beneficial partnership that our company continues to enjoy with IHG. IHG brands represent 4 of our 5 currently operating properties and 5 of the 8 projects that we have under development.