Newcrest Hotels Opens Two New IHG Properties

Newcrest Hotels Opens Two New IHG Properties

Franchisee expands their portfolio opening a Holiday Inn Express in Paris, Texas and one in Texarkana, Ark.

October 15, 2009 // // ATLANTA - Despite the challenging economy, Newcrest Hotels has pursued an aggressive growth strategy in the midscale hotel segment and has recently opened the latest additions to their portfolio - a Holiday Inn Express in Paris, Texas and a Holiday Inn Express in Texarkana, Ark. These latest hotel openings complement the five Holiday Inn brand family properties in Texas and Oklahoma currently in their ownership and management portfolio.

"The hotel projects we have with IHG provide us with brands that can deliver strong performances and are sound investments," said Mehul "Mike" Patel, Co-Principal, Newcrest Hotels LTD. "We see a great opportunity in growing our portfolio with IHG, particularly with the relaunched Holiday Inn brand family."

Newcrest Hotels is continuing their growth with IHG as the company has an additional four Holiday Inn Express hotels under development in Texas and Arkansas and two Candlewood Suites hotels under development in Texas. The company's growth and success is what led them to be named IHG's Developer of the Year in 2007.

"We are proud of Newcrest and the relationship we have cemented with them over the last ten years as they have continued to excel with strong leadership and a solid strategy," said Jim Anhut, Chief Development Officer, the Americas, IHG. "With six more IHG properties under development, we look forward to continuing our long relationship with Newcrest."

The 84-room Holiday Inn Express Paris, Texas and the 87-room Holiday Inn Express Texarkana, Ark. follow the relaunched brand image that was first announced in 2007 to drive increased quality and consistency across the brand portfolio. The program focuses on arrival and welcome services, as well as guestroom and guest bath comfort. The global estate of more than 3,300 Holiday Inn and Holiday Inn Express properties is expected to be relaunched by the end of 2010.

The Holiday Inn Express Paris, Texas and the Holiday Inn Express Texarkana, Ark., are owned by affiliates of the Newcrest Group and managed by Newcrest Management, LLC, under a license agreement with a company in the InterContinental Hotels Group.

About Newcrest Hotels

Newcrest Hotels, LTD is an affiliate of the Newcrest Group, one of a handful of vertically integrated hotel companies in the Southwest, with operating units that specialize in the development, construction, management and ownership of lodging properties. The firm received IHG's Mainstream Developer of the Year Award in 2007 for its distinctive achievements in hotel development. Newcrest was also the recipient of Holiday Inn's coveted Quality Excellence Award in 2001, 2002 and 2003 for demonstrating the highest standards in customer satisfaction and hospitality management. The firm's Co-Principals include Mehul "Mike" Patel, Chirag "Chuck" Patel, Sanjay "Sunny" Patel and Daxesh "Danny" Patel. The Newcrest Co-Principals have been partners since they purchased their first business, a mail pre-sort company, while still in high school.

About Holiday Inn Express

Holiday Inn Express hotels are modern hotels for value-oriented travelers. Fresh, clean and uncomplicated, Holiday Inn Express hotels offer competitive rates for both business and leisure travelers. Guests Stay Smart® at Holiday Inn Express hotels where they enjoy a free hot Express Start® Breakfast Bar, free high-speed internet access and free local phone calls (US and Canada only). There are currently more than 2,000 Holiday Inn Express hotel locations around the globe.

Notes to Editors:

InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, over 4,300 hotels and almost 630,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognized and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®, and also manages the world's largest hotel loyalty program, Priority Club® Rewards with 44 million members worldwide.

IHG has nearly 1,600 hotels in its development pipeline, which will create 140,000 jobs worldwide over the next few years.

InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.



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