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Pasquerilla Enterprises sells Holiday Inn Express — last of Crown American portfolio

In World
May 18, 2024

May 17—JOHNSTOWN, Pa. — The last hotel in the once-expansive portfolio of Johnstown-based Pasquerilla Enterprises LP has been sold.

Plamondon Hospitality Partners, a Frederick, Maryland, company, purchased Holiday Inn Express & Suites Johnstown, located at 1440 Scalp Ave. in Richland Township. The lodging establishment was operated by Pasquerilla’s Crown American Associates.

The selling price was not announced, but that will eventually become public knowledge.

“Crown American is a great company,” said Michael Henningsen, a Plamondon executive vice president. “We’ve known them for many years. This is the last of their portfolio. We looked at it as a great opportunity for us to expand our portfolio with a great product and a great market.”

Plamondon now owns 14 hotels, including two in Altoona and the Fairfield Inn & Suites in Cumberland, Maryland.

“Geographically, we have hotels within an hour on either side (of the Holiday Inn Express), so it makes perfect sense,” Henningsen said.

Different Crown American entities have owned numerous shopping centers and hotels over the decades. Pasquerilla Enterprises most recently sold the Holiday Inn Johnstown-Downtown at auction in 2021.

The sale of the Holiday Inn Express & Suites leaves the Crown American Associates headquarters in downtown Johnstown as the last Pasquerilla property. Space is also available for lease inside the structure.

“We have work to do in this building,” Mark Pasquerilla, CEO of Pasquerilla Enterprises, said of the downtown site. “That’s the main thing I’d like to say. We’ve got work to do here. … The office market is tough, and that’s all I’d say.”

Pasquerilla called the 93-room Holiday Inn Express “a wonderful property.”

“It’s well located,” Pasquerilla said. “It’s having a record year. We have a wonderful team there. Melissa Bird is a wonderful manager. She’s built a great business. …

“The buyer is a strong regional hotel company. I think they’re going to be good community citizens — in fact, not that I think, I know they’re going to be good community citizens.”

Henningsen said the Holiday Inn Express’ staff has been retained.

“This is going to sound simplistic, but it’s business as usual,” he said. “What we bring to them is a larger company that is growing. Crown, their vision was changing. What we’re going to bring to them is probably some systems and processes to help them run the hotel better. But they know the market. We’ll look to the leadership of the property to keep educating us.”

The establishment started as a Super 8 Motel in 1987 and then changed to a Holiday Inn Express in 1996. The original building was razed and a new hotel was built in the same location in 2016.

Renovations are expected to take place next year at the property that is part of the InterContinental Hotels Group, according to Henningsen.

“Even though the property is in excellent shape, when you do a transfer of ownership there are terms that are out there, various terms, called a ‘product improvement plan,’ like a PIP,” he said.

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