Ashford Hospitality to convert Key West Crowne Plaza to Autograph

Ashford Hospitality Trust plans to convert the Crowne Plaza La Concha Key West (Fla.) Hotel to Marriott International's Autograph Collection brand by July 1, 2022. Photo credit: IHG

Ashford Hospitality Trust entered into a new franchise agreement with Marriott International to convert its 160-room Crowne Plaza La Concha Key West (Fla.) Hotel to an Autograph Collection property. The agreement calls for Ashford to convert the hotel by July 1, 2022, pursuant to a $13.7 million conversion property improvement plan, approximately $7.8 million of which is incremental.

The PIP includes updates to the exterior, guestrooms, guest bathrooms, corridors, lobby, restaurant, lounge, pool and meeting space. The conversion also will create a distinctive theme and style for the hotel in line with the Autograph brand.

Post-conversion, Ashford anticipates the hotel should realize a revenue per available room premium to the current hotel and that its incremental investment should yield an approximate 19 percent unlevered internal rate of return. Remington Hotels will continue to manage the property after the conversion.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

"With its prime location in Old Town Key West and deep history, the upbranding of this landmark hotel to an Autograph Collection property should elevate the property into a desirable niche in the very attractive, high-barrier-to-entry, high-RevPAR Key West market," Douglas Kessler, president/CEO of Ashford Hospitality, said in a statement.

Ashford Hospitality also revealed plans to enter into a new franchise agreement for the 252-room Hilton Alexandria (Va.) Old Town it acquired in June 2018. Under the agreement—which does not include a PIP—the hotel will transition from being Hilton managed to being managed by Remington Hotels.

Suggested Articles

Englender, managing director at the FF&E and OS&E procurement firm, talked about how his company is evolving in the midst of the pandemic.

The company will introduce the antimicrobial and antiviral Surface-Guard Technology on select Sealy products beginning in early 2021. 

The first HospitalityVIEW meeting reached a consensus that technology innovation will be a driving force to lead the industry out of the downturn.