Check-Out Time? Crowne Plaza's Future With Tourney In Question
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Crowne Plaza's Contract Runs Through '12,
But Has Option To Depart After '10 Event |
The six-year contract for Crowne Plaza to serve as title sponsor of the PGA Tour Crowne Plaza Invitational at Colonial runs through '12, but with an option for the company to "depart after the 2010 event," it is unclear how much longer the naming-rights partnership will continue "given today's sagging economy," according to Jimmy Burch of the FT. WORTH STAR-TELEGRAM. Crowne Plaza VP/Brand Management Gina LaBarre earlier this week said hotel officials "love" the partnership, but she "stopped short of saying they plan to stick around for the final two years of the deal." LaBarre: "At this point in time, I don't know." Sources earlier this month said Crowne Plaza is not planning to return after '10, and Burch writes the hotel chain's uncertain future involvement is "understandable." Crowne Plaza parent company InterContinental Hotels reportedly "experienced a 43[%] drop in profits" in '08, and the company's stock prices "have continued falling" this year. Tournament Chair Harold Muckleroy said of Crowne Plaza, "I expect them to be here through 2012. They've been a great sponsor for us. But I don't know of very many businesses that are thriving right now." Burch reports the duration of the Crowne Plaza-Colonial partnership "could depend on the success of this year's advertising campaign." Crowne Plaza during first-round coverage of the PGA Tour Quail Hollow Championship on Golf Channel today will break a new collection of golf-themed spots that are "arguably their funniest." While in past years the focus of the advertising was on "branding Crowne Plaza as a hotel for golfers," this year's spots feature golf instructor David Leadbetter and "emphasize the chain's promotional connection with Callaway Golf" (FT. WORTH STAR-TELEGRAM, 4/30).
PALM SPRINGS TOURNEY UNCERTAIN: The Obama administration announcing today that Chrysler will be forced to file Chapter 11 bankruptcy protection leaves in question the future of the PGA Tour's 50-year-old event in Palm Springs. Chrysler has title sponsored the event since ‘86 and has one more year remaining on its contract, estimated at $5-6M annually. Chrysler took its name off of this year's event amid public backlash regarding sports marketing spending by companies receiving federal bailout money. The PGA Tour declined to comment. GM, which also received federal funds, has been told by the administration to restructure its operations by the end of May or it could face the same fate. GM's Buick brand title sponsors two PGA Tour events and is the tour's official car (Jon Show, SportsBusiness Journal).
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