The purchase of the Holiday Inn Preston from InterContinental Hotels Group in August 2004 demonstrated the confidence felt by IHG in the management standards of Centre Island. In all previous hotel disposals IHG had insisted that properties were de-branded prior to sale, but in this case, Centre Island were authorised to retain the hotel's Holiday Inn branding, whilst continuing to trade under the franchise agreement.

Preston, one of England's newest cities, is enjoying a period of growth and regeneration and the Holiday Inn, with it's excellent location, 129 bedrooms and good conference facilities, is already an established presence in the city centre. An extensive refurbishment programme, including the planned development of under-utilised retail space and an unused food and beverage outlet to create an extensive new conference complex, will ensure that the hotel is perfectly placed to capitalise on future economic growth in the region.