Abdullah Zaid
Houston, TX (USA)
Role(s):
Founder/Owner/Principal
Ramada Plaza Hotel
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Startup
Location:
Houston
Industry:
Hospitality
Year Founded:
1995
Number Employees:
10-50 people
Description:
Hello,
I am the owner of the Ramada Plaza Hotel and we are working on a plan to up-convert to a Crowne Plaza, which is a brand owned by IHG, or Intercontinental Hotels Group. IHG has expressed interest because they would love to be positioned in a location such as ours. The cost of building a new Crowne Plaza from scratch, excluding the price of land, is $28m to $37m. Based on the Property Improvement Plan or PIP that we received from IHG, it will cost us $10.8 to convert the hotel to a Crowne Plaza. In Houston, there is not a single Crowne Plaza that is doing less that $2.4m per quarter in just room revenue. This is an extremely profitable venture and I urge anyone with any interest to contact me.
Regards,
A Zaid