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You are here: Home  January 2010  Openings, Sales and Renos ‘No moss’ for Pacrim CEO

‘No moss’ for Pacrim CEO

Glenn Squires
WASHINGTON, DC—Glenn Squires certainly doesn’t let the moss grow under his feet.  He’s constantly on the move, hammering out deals for Pacrim Hospitality on three or four continents. He’s involved in deals ranging from full service Crowne Plaza hotels to 16 to 20-room micro-inns. His partners range from New York financiers, to First Nations groups, to Muslim companies in the Middle East.

When asked how he manages it all, he replies:  “My job is to do this, but once the structure is in place, I hand off development to [president and COO] Mike Jackson and [VP development] Roger Rowsell. There are global opportunities, and at this stage in life, I want to do this stuff.”

Pacrim Hospitality is looking at new hotels in Calgary, Toronto and Steady Brook, NL.

The Steady Brook project is right across the river from the Humber Valley Resort, north of Corner Brook.Humber Valley faced bankruptcy but recently found a new buyer. Squires, CEO of Pacrim Hospitality, told CLN at the IHG conference in Washington that plans for Steady Brook call for 230 rooms — a 150-room hotel and 80 townhouses.

“We are not going after the Newfoundland market,” Squires expained.  “We are working with an Irish group out of Moate, Ireland.” 

Pacrim is hoping to break ground on the $35 million project this spring, aiming for a late 2011 opening.

In Calgary, Pacrim is converting a hotel called The Five on 5th Ave. SW to a Crowne Plaza. The changeover, which should cost $15 to $20 million, will be complete in 2010 or 2011.  Pacrim has been operating the hotel for a couple of years.

Pacrim will also spend $3 million to put the finishing touches on another Toronto Crowne Plaza (check), a 290-room property on the Don Valley Parkway that was formerly a Ramada and a Wyndham, but is now in receivership.  Holloway REIT is currently operating the hotel.

More First Nations hotels are in the works, including an agreement with Millbrook in Truro regarding a new hotel and waterpark, and an equity partnership in a project just north of Phoenix, Arizona.

The first of Pacrim’s small-scale hotel chain, Country Inns of 16-20 rooms, are underway in Grand Falls, NL and Joggins, NS near the Amherst Fossil Museum.

Pacrim also has two pilot projects in Grand Falls , NL, which have been well-received in this town where the paper mill recently closed.

Outside Canada

Squires is also involved in a 200-room Crowne Plaza Resort on the Gulf Shores of Alabama, 30 miles west of Pensacola, FL.  This $3 million project is a joint venture with the Goldstream family out of New York.

Pacrim is looking at opportunities with investors in emerging markets in the Americas, such as  Mexico and Brazil, and the Gulf States with employees in Abu Dhabi and Saudi Arabia.

Squires is looking forward to his expanding role in IAHI, the owner association of IHG.  Next year he will be president elect, and the following year he will become president.  He now heads up the Crowne Plaza Committee of the IAHI, and he is involved in the EMEA, a task force on corporate responsibility — which includes green initiatives and community outreach.

Squires said that IAHI and IHG work as a team, and that IHG has provided valuable contacts on a global basis that have helped Pacrim’s forays into Mexico and the Middle East.

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