The financially troubled Crowne Plaza Hartford hotel, just north of downtown, has new management, a change that comes seven months after the property’s owners filed for bankruptcy protection in California.
Marshall Hotels & Resorts, Inc., a Maryland-based hotel management and services company, announced Tuesday that it has signed a contract to manage the 350-room Crowne Plaza Hotel near I-84.
The disclosure comes after the hotel’s owners CHOA Vision LLC, which stands for Christian Hotel Owners Association, filed for Chapter 11 reorganization last August, citing more than $10 million in debt. California-based Packard Hospitality Group was managing the property when it entered bankruptcy.
Under Chapter 11, a company is shielded from creditors while it works out a court-approved plan to repay creditors.
Mike Marshall, the president and CEO of Marshall Hotels & Resorts, said CHOA Vision is still in bankruptcy proceedings trying to work out a reorganization plan.
He said his company took over managment of Crowne Plaza in November, but didn’t make it public until today. Marshall Hotels also operates a Holiday Inn in Danbury, which it took over as part of a receivership last year.
In its press release, Marshall Hotels & Resorts, announced two other contracts to manage the 58-room Ramada Plaza Hagerstown in Maryland and the 160-room Best Western Deltona Inn, outside Orlando, Fla.
In addition, Marshall Hotels said it was appointed receiver for the 125-room Comfort Inn Hotel in Hunt Valley, Md.
“We expect to see a significant uptick in the number of properties either being sold or placed into receivership this year,” said CEO Mike Marshall. “Many properties have suffered significantly from the downturn and need capital and reinvigorated management with a clear-cut plan to take advantage of all the opportunities that the rebound is creating.”
