Pacrim Hospitality Announces Crowne Plaza Hotel For Fredericton

Pacrim Hospitality of Halifax announces an agreement with InterContinental Hotels Group (IHG) to convert the Lord Beaverbrook Hotel in Fredericton, New Brunswick, to a Crowne Plaza Hotel. We are delighted to be adding the Crowne Plaza name to our existing portfolio of 24 hotels throughout Canada. IHC is the world's leading hotel organization and together we intend to develop more IHG hotel brands in Canada and the United States."said Glenn Squires, President of Pacrim Hospitality. "We currently own and operate three IHG hotels and have agreements for four others. As a leading hotel company we are continually looking for opportunities and this agreement and relationship clearly fits into our strategy."

"The Lord Beaverbrook Crowne Plaza Hotel will provide exceptional room accommodations, superior meeting and banquet space, upscale dining, pool and fitness facility."said Fred Fettah, General Manager of the Lord Beaverbrook Hotel, Fredericton New Brunswick. "The six million dollar renovation may also include an expansion to our present 168 guest rooms. The recent announcement of the Fredericton E-Plex to be located across from the Lord Beaverbrook Hotel has prompted our thinking in this direction. With Crowne Plaza quality standards, distribution, Priorty Club rewards program and our landmark location we look forward to bringing this exceptional hotel product to the Fredericton market."

The Lord Beaverbrook Hotel is owned by the Aquilini Investment Group of Vancouver, British Columbia. "We are very pleased to be renovating and rejuvenating this landmark in Fredericton." said Roberto Aquilini. Founded almost 50 years ago by Luigi Aquilini, the company has a significant portfolio, which includes the recent acquisition of 50% ownership of the Vancouver Canucks and GM Place, commercial and residential property, hotels and golf courses. It also has significant agricultural holdings, including blueberry and cranberry farms.

Halifax based Pacrim Hospitality is recognized internationally as a leading hotel development and management company. The company develops, owns and/or manages hotels, restaurants and golf club properties throughout Canada. Its portfolio includes nationally renowned independent properties and many of the world's most recognized and most highly respected brands by Carlson Hotel Group, InterContinental Hotels Group PLC, Cendant Corporation and Prime Restaurant Corporation. Independent properties include John Stanfield Inn and Fine Dining, Truro, Nova Scotia; Hotel Suites Le Faubourg - Montreal and Golden Eagle Golf Clubs, Pitt Meadows, British Columbia.