$75 million loan will help renovate InterContinental hotel

The company managing the InterContinental Kansas City at the Plaza hotel has obtained a $75.1 million loan to help with renovating all its 366 guest rooms and suites.

The Aztec Group of Miami said in a release that it had arranged the loan from Deutsche Bank for the Procaccianti Group, also known as TPG.

The 12-story InterContinental, on the south edge of the Country Club Plaza, formerly was the Ritz-Carlton, the Fairmont and the Alameda Plaza hotel. It has been managed by TPG Hospitality since 2006.

Don Breckenridge, area general manager for InterContinental, said Friday that the company looked forward to “unveiling the complete scope” of the renovation and its design details. All 366 guest rooms and suites will be made over, he said, in work that “will complement the Alameda Ballroom and meeting space transformation completed this past fall.”

This story was originally published January 28, 2016 at 1:50 PM with the headline "$75 million loan will help renovate InterContinental hotel."