The Causeway Bay Group of Companies is putting $4 million into the complete renovation of the 1970s-style former Holiday Inn on Lansing’s Southside.
Causeway Bay Group recently took over the 300 room, 30,000 square foot bankrupt hotel. Ps-Tse Keung, with Causeway Bay, says the Canadian Company scoped the hotel for about eight months before making the purchase.
The hotel did not close during the change of owners. Keung has no intentions to close the hotel and will work around bookings.
“The place is basically booked for the next six months,” he says. “We’re doing very well.”
Keung suggests that some local businesses have outsourced events to newer facilities in Grand Rapids and Detroit. "We think this will draw back business that left for Grand Rapids and Detroit,” he says.
The renovation of the former Holiday Inn includes a total gutting. Everything, from the floors to the wallpaper, will be modernized.
“We’re remodeling close to a five-star rating, but we’re concentrating on staying in the three-star price,” he says.
Keung says that, unlike many hotel takeovers, he plans to hire more employees rather than cutting jobs. The hotel employs 110 people. Keung expects to double this number.
“People don’t like to put money in a property like this, draw it out and run away,” Keung says.
Keung will add a fitness facility and other amenities to the hotel. The renovations should be complete by 2010.
“We’re the one bright spot in the hotel industry—we’re not going bankrupt, and we won’t because we don’t owe anyone any money,” he says.
Source: Bob Trezise, City of Lansing
Ivy Hughes, development news editor, can be reached here.
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