IHG® Announces Opening Of The World's Tallest Holiday Inn® Hotel

ATLANTA, Oct. 29, 2014 /PRNewswire/ -- InterContinental Hotels Group (IHG), one of the world's leading hotel companies, and Crescent Hotels & Resorts today announced the opening of the new 492-room Holiday Inn^® Manhattan-Financial District hotel located in the heart of New York City's downtown business center. Standing more than 453 feet tall, the hotel's guestrooms boast spectacular views of the Hudson River and One World Trade Center. The new-build hotel is owned by Golden Seahorse, LLC and managed by Crescent Hotels & Resorts.

"The opening of the Holiday Inn Manhattan-Financial District, the tallest Holiday Inn hotel in the world, is another milestone for our iconic brand, and we are excited about the role this property is playing in the revitalization of Manhattan's historic Financial District," said Heather Balsley, senior vice president, Americas Holiday Inn Portfolio of Brands, IHG. "This beautiful hotel embodies our commitment to provide our guests what they value most when they are travelling: the contemporary design, modern amenities, and warm, welcoming service that distinguishes the Holiday Inn brand."

"The addition of a Holiday Inn hotel of this magnitude to our portfolio further speaks to the strength of the brand and importance of the relationship between Crescent Hotels & Resorts and IHG," continued Balsley.

The strength of the hospitality industry in New York City is well-known, and this will be the Holiday Inn brand's 22^nd hotel to open in the market. There is significant opportunity for the brand, and the lodging industry as a whole, to grow its presence in the Financial District. Since 2003, the local residential population increased nearly 85 percent.[i] This increased population and related business, along with the nearly 6 million annual visitors to Lower Manhattan[ii], has resulted in a strong demand for lodging, apparent in both occupancy rates and hotel development in the area.[iii] Manhattan's Financial District, a neighborhood previously known only for "big business," has become a key part of the cultural landscape of the city. Located just a short distance from the hotel are popular business and leisure destinations, including the National September 11 Memorial & Museum, South Street Seaport, Chinatown, Wall Street, New York Stock Exchange and the Federal Reserve Bank.

"The location within the Financial District, proximity to the new Freedom Tower and National September 11 Memorial and Museum, and convenient access to the rest of The Big Apple positions the Holiday Inn Manhattan-Financial District to quickly become a premier location to accommodate business and leisure travelers visiting New York City," said Michael George, Chief Executive Officer and President of Crescent Hotels & Resorts. "We are pleased to once again partner with IHG as we continue to grow our portfolio in key locations throughout the U.S. and Canada."

The hotel, located at 99 Washington Street, provides a reprieve from the city that never sleeps. The Holiday Inn Manhattan-Financial District offers a familiar atmosphere in a world class destination that is warm, trend-forward and comfortable in guest rooms, public spaces and the onsite restaurant, St. George Tavern, which offers casual dining for breakfast, lunch and dinner.

About the Holiday Inn^® brand
With 1,149 hotels worldwide, the Holiday Inn^® brand is the most widely recognized lodging brand in the world. In fact, the Holiday Inn brand was one of the first international hotel brands to establish a presence in China in 1984. The Holiday Inn brand provides the services that business travelers need, while also offering a comfortable atmosphere where all people can relax and enjoy amenities such as restaurants and room service, swimming pools, fitness centers and comfortable lounges. The casual atmosphere and amenities such as meeting and on-site business facilities, and Kids Stay and Eat Free programs, demonstrates the long-standing commitment of the Holiday Inn brand to serving travelers and have helped to establish the brand as "America's Favorite Hotel." For more information about the Holiday Inn brand, visit www.ihg.com/holidayinn or call 1-888-HOLIDAY. Find us on Twitter http://www.twitter.com/holidayinn or Facebook www.Facebook.com/holidayinnhotels.

About Crescent Hotels & Resorts
Crescent Hotels & Resorts is a nationally recognized, top-10 independent third-party operator of hotels and resorts. Crescent currently operates over 80 hotels and resorts, with close to 19,000 rooms in 29 states and Canada. Crescent is one of a small group of independent management companies approved to operate hotels under the Marriott, Hilton, Starwood, Hyatt and InterContinental Hotels Group flags. Crescent also operates a collection of legendary independent hotels and resorts. For more information, please visit www.chrco.com.

Notes to Editors:
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organization 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 program with over 82 million members worldwide. The program was relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally.

IHG franchises, leases, manages or owns more than 4,700 hotels and 697,000 guest rooms in nearly 100 countries, with almost 1,200 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 orwww.youtube.com/ihgplc.

[i] The New York Times, The Financial District Gains Momentum, 8 August 2014

[ii] New York City Economic Development Corporation (NYCEDC)

[iii] Commercial Observer, Lower Manhattan Hotel Industry Expands, 30 September 2014

SOURCE IHG Hotels & Resorts