The $6 million renovation and reflagging of a hotel in Sparks marks the first foray into the Reno market by a fast-growing hotel-management group based in Virginia.
Crescent Hotels & Resorts of Fairfax, Va., said last week it signed a deal to manage the 220-room Quality Inn at 55 E. Nugget Ave., near the interchange of McCarran Boulevard and Interstate 80.
The hotel is owned by Navnish Group of New York City.
Crescent Hotels said the hotel will be converted into a Holiday Inn after completion of the renovation.
The work, which will be begin soon, will run in phases to minimize disruption to hotel guests. It's projected for completion in early 2008.
"This renovation will vastly change the hotel's quality and ambiance," said Pamela Suhr, chief operation officer of Crescent.
She said her company believes the Reno-Sparks area remains underserved in the full-service hotel segment. The Quality Inn property, she said, is structurally sound and centrally located.
Suhr noted the hotel is close to the Reno-Tahoe International Airport, the University of Nevada, Reno and the new Legends at Sparks Marina.
The renovation will include upgraded guest rooms and public spaces, a spruced-up exterior and improvements to the hotel's ballroom.
The property will have 8,000 square feet of meeting space when the work is completed.
Crescent Hotels & Resorts wants to add other lodging properties throughout the West to its portfolio.
Michael George, the company's president and chief executive officer, said Crescent has "an aggressive appetite" for full-service and premium-branded hotel properties. He said Crescent will buy them outright, participate in joint ventures or take on third-party management contracts.
The company currently owns or operates 35 upscale and mid-market hotels and resorts in 17 states.
