Revenue True

FHG’s 1 more IHG hotel going under major Formula Blue renovation in major Metro Airport Location.

Overview

• The exterior and architectural elements went through an extensive renovation to meet the brand requirements for Formula Blue.
• The 6-story hotel was renovated in 2 months with various teams working collectively for a fast turnaround. All rooms, hallways and public areas were renovated and upgraded from the previous interior designs. Along with the hotel, the parking lot went through an overlay.
• Holiday Inn Express is undergoing a major renovation estimated cost $2.5M to convert the property to New Formula Blue theme.
• This is a unique property as it was not built as a Holiday Inn there is a lot of modifications that will need to be made in Rooms & Public area.
• We have completed the 1st phase, the 2nd phase is in the initiation process. There will be 3-4 phases and expected to be completed by End of March 2019.
• Numbers/Budgeted & Variances: Phase 1- Exterior Paint, Landscaping & parking Lot completed 10-12% under budget & under scheduled time by well-synchronized planning.
• Time frames: Completed before the anticipated time.
• Room Revenue being impacted: NO room revenue been Impacted.
• Challenges: We had to complete the exterior phase before October Balloon Fiesta Which is the busiest week for the area. Our team did a great job by completing 1 week prior and leaves plenty of time for New Parking lot to cure for heavy traffic.