THE Holiday Inn name will disappear from the Holiday Inn Crowne Plaza Harbour View in Tsim Sha Tsui when the franchise expires next year ending a partnership which started in 1981.
The Crowne Plaza is one of two Holiday Inn hotels in Hong Kong, the other being the Holiday Inn Golden Mile.
Holiday Inn Worldwide (HIW) yesterday said that with the owner Tak How Investments, it was agreed that the franchise which expires next September 30 would not be renewed and the hotel would operate independently with HIW retaining a shareholding.
Stanford Hotels International, which has been operating the hotel under the Holiday Inn franchise agreement, will continue to manage the five-star property to be renamed the Grand Stanford Harbour View.
'This was a mutual decision, based on the fact that HIW and Stanford have divergent development plans,' said David Paulon, executive vice-president and managing director of HIW-Asia Pacific.
'This agreement is completely amicable and we wish Stanford Hotels every success in the future.' Tak How Investment chairman C W Lui said that Holiday Inn had been an excellent partner over the years but Tak How's strategic direction was to expand the Stanford Hotel group name.