Caribbean Cove Hotel & Water Park Sale Pending

Aug. 9, 2011 - PRLog -- Transfer of the property to a new owner is anticipated to take place the middle of September. The new ownership group is expected to retain the 206 associates currently employed at the property.

“General Hotels Corporation has operated the property since it opened in 1979 and so the decision to sell comes with a great deal of mixed emotion and heartfelt appreciation to our associates, customers and industry partners for their loyal support through the years,” said Jim Dora, Jr., president and chief operating officer for General Hotels Corporation.  “Ongoing drops in demand and rates, driven by a poor economy, an increase in area water park development and our organization’s long term goals led us to make this difficult decision,” continued Dora.

Hotel operation will cease on October 9 in the event the sale does not actualize, “Should this happen, strategies are in place to assist customers and associates with the transition,” said Jim Dora. Jr. “We will work closely with customers to accommodate them at other properties managed by General Hotels Corporation and associates will be offered employment counseling and resources to assist with obtaining new employment.  Where possible, every effort will be made to place them within our organization or at other hotels within the community.”

The hotel originally opened as Holiday Inn North at the Pyramids.  Having recently changed its name to Caribbean Cove Hotel & Water Park, the property features 344-guest rooms, 16,000 square feet of meeting space, two restaurants, and an indoor recreation center along with an attached 50,000 square foot indoor water park. For more information, visit www.CaribbeanCoveWaterPark.com.

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About General Hotels Corporation
General Hotels Corporation is an Indianapolis based hotel management company with a reputation for progressive and successful management. General Hotels Corporation operates 13 hotels representing 2,160 hotel rooms throughout Indiana. In Indianapolis these properties include Crowne Plaza at Historic Union Station, Crowne Plaza Indianapolis Airport, Caribbean Cove Hotel & Water Park, Homewood Suites by Hilton-Keystone at the Crossing, Staybridge Suites Fishers and Holiday Inn Express South. Throughout Indiana, General Hotels Corporation operates Homewood Suites by Hilton and Hampton Inn in Lafayette, Courtyard by Marriott in Kokomo, Holiday Inn and SpringHill Suites by Marriott in Terre Haute, Hampton Inn in Scottsburg and Holiday Inn in Columbus. Visit GenHotels.com for more information.