IHG Signs With Mediterranean Investment Group for Crowne Plaza Durrës, Albania

United Kingdom, Denham. July 16, 2021

IHG® Hotels & Resorts (IHG®), one of the world's leading hotel companies, has announced the signing of Crowne Plaza Durrës, Albania. This franchised agreement with Mediterranean Investment Group will be a country debut for IHG Hotels & Resorts and the Crowne Plaza brand.

Expected to open in 2024, Crowne Plaza Durrës will offer 140 guest rooms, as well as a restaurant, bar and lounge, meeting room facilities and a wellness area including a spa, fitness centre and indoor swimming pool. Located in the centre of this coastal city, the hotel will form part of Durrës' new waterfront investment project, which promises to transform the area into a prime leisure destination.

It will include a new cruise terminal, marina, green spaces and cycle routes. With more than 400 hotels around the world, Crowne Plaza's global scale, purposeful design, refined meetings & events, and inspiring restaurant and bar concepts make it a great fit for Albania, which is seeing increased demand from both investors and visitors as a destination for both leisure and corporate travel.

(Mrs) Willemijn Geels, Vice President Development Europe, IHG Hotels & Resorts, commented: "Albania represents a key entry market for IHG Hotels & Resorts and we are delighted to be partnering with Mediterranean Investment Group to open the Crowne Plaza Durrës, Albania. There is a great deal of scope to bring further IHG Hotels & Resorts brands to the Balkans, and we are actively looking at new opportunities to build on our presence there. Our Crowne Plaza brand has already proven to be highly successful in Belgrade, Serbia, and we look forward to introducing it to the Albanian market as we look to grow across the Balkans."

Gazmend Haxhia, Board Member of Mediterranean Investment Group, commented: "IHG Hotels & Resorts presented a compelling partnership opportunity to open Crowne Plaza Durrës in a city which is experiencing high growth and investment levels. We believe that the Premium Crowne Plaza Hotels & Resorts brand caters perfectly to the current leisure demand and growing interest from corporate travellers choosing to visit Durrës. We look forward to opening the hotel during a major new investment period for Durrës in partnership with IHG Hotels & Resorts."

Located west of the capital city Tirana, on the Adriatic Sea, Durrës is a historian's dream with a 9th century church, Archaeological Museum, Byzantine Market Square, Venetian Tower, Durrës Castle, Fatih Mosque and Roman Amphitheatre; all less than a 15 minute walk from the hotel. Nearby sandy beach, Broad Durrësi Beach, offers guests the opportunity to relax and unwind with a number of restaurants and bars scattered close to the port area, making it an attractive tourist destination.

Crowne Plaza Hotels & Resorts is one of the world's largest Premium brands, with 420 properties located in major urban centres, gateway cities and resort destinations all around the globe, and almost 100 hotels in its development pipeline. IHG's family of 16 brands gives guests a wealth of choices, and is presented in four collections. Crowne Plaza Hotels & Resorts sits within IHG's Premium Collection, which makes travel personal and purposeful. The Collection also includes HUALUXE Hotels & Resorts, EVEN Hotels and voco Hotels.

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Revenue Management: Monetizing All Offerings


Of all the departments within hotel operations, Revenue Management may have been the hardest hit, due to the pandemic. The logic goes - no revenue, no need for revenue managers - so many industry professionals were furloughed. If business rebounds in 2021, as expected, then hotel management will have to determine when prevailing occupancy levels justify bringing back their revenue management team. Also, the pandemic seems to have exposed some weaknesses in the traditional RevPAR models. There is a growing understanding that it is no longer sufficient to use a "revenue per available room" model; instead, hotels are adopting a TRevPAR model (total revenue per available room). This model recognizes that revenue streams from other departments are just as important as the revenue gained from rooms. As a result, hotels are looking at ways to monetize any and all hotel offerings - from dining outlets and spas to outdoor function spaces and local partnerships. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.