Acquisitions & Hotel Openings

Deal Signed to Develop 120-room Hotel Indigo Gainesville in Florida; Expected to Open in 2016

Owned by Celebration Pointe Hotel Partners and to be Managed by Driftwood Hospitality

ATLANTA – August 14, 2014 - InterContinental Hotels Group's (IHG) Hotel Indigo® brand has signed a deal for a 120-room new build property in Gainesville, Fla., bringing guests together with the city's new Celebration Pointe neighborhood. Celebration Pointe is a unique mixed-use project with a pedestrian-friendly atmosphere, inspired architectural features and abundant green space, providing an energizing and engaging urban environment.

"Our guests want to experience something unique and different when they travel, so we like that Celebration Pointe won't be the typical commercial development," said Mary Winslow, director, Americas Brand Management, Hotel Indigo. "Every Hotel Indigo property is carefully designed to reflect the culture, character, and history of its surrounding neighborhood, and this area gives us a one-of-a-kind canvas with which to start."

The Hotel Indigo Gainesville hotel, expected to open in 2016, will be strategically located within the mixed-use project between SW 49th Terrace and SW 50th Terrace facing a park-like setting. The hotel will have approximately 120 guestrooms, a fitness center and a business center and will feature plush bedding, hard-surface flooring with area rugs, and spa-inspired bathrooms. Guests and locals will enjoy a great neighborhood bar with seasonal and locally sourced food in a stylish environment, and relationships with local vendors like coffee roasters and breweries will bring a taste of the neighborhood into the hotel for guests.

The hotel will feature the brand's new Neighborhood Guide, an innovative touchscreen display that connects guests to each other, the local neighborhood, and to Hotel Indigo locations around the world. Hotel team members, many of whom are locals themselves, will share their favorite hidden gems with guests looking to explore and discover the neighborhood.

Located at the intersection of Interstate 75 and Archer Road, Celebration Pointe is a 125-acre, 1 million-square-foot mixed-use development. In addition to more than 300,000 square feet of planned Class-A office space, Celebration Pointe will feature approximately 375,000 square feet of specialty retail and a significant restaurant and entertainment component as well as nearly 1,000 multifamily residential units when fully built out.

"The Hotel Indigo brand's attention to detail, unique design philosophy and outstanding operating platform make it the perfect fit for our project," said Celebration Pointe Partner Ralph Conti. "The fact that a brand such as Hotel Indigo selected Celebration Pointe for its first and only Gainesville location is indicative of the type and style of tenant mix that will make this project truly something special for both Gainesville and the surrounding region."

Celebration Pointe, which will be anchored by an 80,000-square-foot Bass Pro Shops, will also feature integrated recreational and sustainable resources throughout the project, including 100 acres of conservation land east of Lake Kanapaha with a networking of outdoor hike and bike trails that will connect Celebration Pointe to the surrounding Lake Kanapaha Conservation Area and Split Rock Conservation Area.

Pre-development site work for the $170 million Celebration Pointe project is already underway to prepare the site for certain infrastructure improvements. The first phase of the development is scheduled to open by fall of 2016.

The Hotel Indigo Gainesville hotel is owned by Celebration Pointe Hotel Partners LLC, will be managed by Driftwood Hospitality and will be franchised by an affiliate of IHG.

The hotel will participate in IHG's guest loyalty program, IHG® Rewards Club. The industry's first and largest rewards program with over 80 million members is free and guests can enroll at IHGRewardsClub.com, by downloading the IHG® app, by calling 1-888-211-9874 or by inquiring at the front desk of any of IHG's more than 4,700 hotels worldwide. The scale and diversity of the IHG family of brands means that its hotels can meet guests' needs whatever the occasion.

About Hotel Indigo®

The Hotel Indigo® brand is a global boutique hotel brand that delivers a refreshing and inviting guest experience that is truly reflective of the local community. From the locally-inspired murals to the renewal program where the music, scent, and menu items change throughout the year, each Hotel Indigo hotel delivers a vibrant, engaging and genuine boutique experience that gives guests the confidence to step out and explore the local neighborhood. Each Hotel Indigo property is unique and designed to reflect the local culture, character and geography of the surrounding area while brand hallmarks ensure consistent and reliable service from location to location. No two hotels are the same. There are 57 Hotel Indigo hotels open around the globe. With a quality global pipeline of 52 hotels, the Hotel Indigo estate is set to double in size to 100 properties within the next three to five years. For more information or to make a reservation, visit http://www.hotelindigo.com. Find us on Twitter http://www.twitter.com/hotelindigo or Facebook www.Facebook.com/hotelindigo.

About Celebration Pointe

Celebration Pointe is a unique, mixed-use development project located at the intersection of I-75 and Archer Road in the heart of Gainesville, Fla. Slated to open in Fall 2016, the 125-acre, 1 million-square-foot project will feature specialty retail, dining, entertainment, Class A office space, hospitality and nearly 1,000 multifamily residential units. Sustainable and walkable, Celebration Pointe's diverse mix-of-uses provide the best attributes of an energized and engaging urban environment. For leasing opportunities or more information, please visit: www.celebrationpointe.com.

About IHG (InterContinental Hotels Group)

IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of nine hotel brands, including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites®, EVEN™ Hotels and HUALUXE® Hotels and Resorts.

IHG manages IHG® Rewards Club, the world's first and largest hotel loyalty programme with nearly 79 million members worldwide. The programme was relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally.

IHG franchises, leases, manages or owns over 4,700 hotels and 688,000 guest rooms in nearly 100 countries and territories, with more than 1,100 hotels in its development pipeline.

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

Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihg.com/media, www.twitter.com/ihg,www.facebook.com/ihg or www.youtube.com/ihgplc.

Coming Up In The October Online Hotel Business Review


Feature Focus
Revenue Management: Optimizing Income Streams Across All Avenues
The role of Revenue Managers, within their profession and the organizations they serve, continues to evolve. A significant portion of the change is driven by technological innovation which, given its magnitude in today’s markets, also redefines their standing on the hotel team. Revenue Managers are moving away from being exclusively spreadsheet-centric and finding better ways to share their data. This shift also requires them to engage more directly with their sales, marketing, and operations departments. Part of this development is due to a reassessment of their metrics for success. Revenue was previously the sole factor by which success was determined but now there is a greater emphasis on price optimization, profitability and flow through. Managers are combining sales, marketing and revenue management, and then adopting a data approach to optimize their income streams across all avenues. This metric evaluates performance in all revenue streams and then calculates the gross operating profit per available room. Hotels are now measuring everything a guest does - and spends money on - from the time he books until the moment he checks out. In addition, Revenue Managers will soon be able to shift their focus from room availability to the guest and his ability to pay. A future revenue management system might take into account things like weather forecasts, the recent online activity of the guest, the guest profile and persona, time of booking, the mode of travel and the fare paid. It might also calculate all the previous stays for this guest, and how much was spent on their room and in the hotel. All of this will be compared to millions of other potential future reservations to determine a unique room and rate for a specific individual guest. The October issue of the Hotel Business Review will address all these developments and document how some hotels are executing their revenue management strategies.