The City of Cedar Rapids is pursuing negotiations with CWCapital LLC, the current owner of the Crowne Plaza Five Seasons Hotel in downtown Cedar Rapids. The hotel has been for sale since January 2009.

“The hotel will be attached to the New Events Center project. We’re better off keeping them together than tearing them apart,” said Mayor Corbett. “By exploring all of the options, we will be in a better position to leverage the $67 million investment we’re making in the convention
center.”

Frew Nations Group, hired by the city to manage the events center construction project, has spent the last six weeks analyzing the relationship between the US Cellular Center and the hotel, and their impact on plans for the new events center.

“For the city to get the best value for its investment, we recommend that they attempt to purchase the property, demolish the ballroom and improve the connectivity among the properties,” said John Frew, president of Frew Nations Group.

“This is an opportunity we need to consider very seriously,” added Allan Thoms, interim city manager. “We appreciate the hard work that Patrick DePalma and the Five Seasons Facilities Commission has put into managing these properties and evaluating the hotel property.”