InterContinental Hotels Group dba Holiday Inn Express
1810 Bell Houston, Texas 77003
Manzoor Hassan and Shan Siddiqui
With the revitalization of downtown Houston underway, Intercontinental Hotels Group concluded that a void existed for moderately priced hotel rooms. Armed with a solid business plan, hotel experience and equity, the company was able to secure debt capital from Metro Bank and HBD to open a new four-story, 112 room, Holiday Inn Express conveniently located adjacent to the George R. Brown Convention Center and the new Toyota Sports Arena. The hotel features an indoor swimming pool, spa, steam room, gift shop, and 1,500 square feet of meeting space with a full service business center offering high speed Internet access.
“HBDi worked with our banker and was able to fill the gap in our financing just at the right time”, said Shawn Siddiqui, one of the principal owners. “Collateral issues and depository relationships can make combining funds from multiple banks difficult”, he added. “However, HBDi provided financing subordinate to our lender to assist us in completing the project.”
True to their plans, the hotel offers corporate executives and leisure travelers moderately priced rooms with downtown amenities. The hotel created over 25 jobs for Houston residents with its opening.
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