Crown American is a privately held American company that manages and develops

commercial Commercial may refer to: * (adjective for) commerce, a system of voluntary exchange of products and services ** (adjective for) trade, the trading of something of economic value such as goods, services, information or money * a dose of advertising ...

real estate. The corporate headquarters is in downtown

Johnstown, Pennsylvania Johnstown is the largest city in Cambria County, Pennsylvania, United States. The population was 18,411 as of the 2020 United States census, 2020 census. Located east of Pittsburgh, it is the principal city of the Metropolitan statistical area ...

, in a building designed by architect

Michael Graves Michael Graves (July 9, 1934 – March 12, 2015) was an American architect, designer, and educator, and principal of Michael Graves and Associates and Michael Graves Design Group. He was a member of The New York Five and the Memphis Group and ...

History

The company was founded in 1950 as Crown Construction. Frank J. Pasquerilla, who joined less than a year later, became president in 1956 and sole owner in 1961. The company's name was changed to Crown American in 1972 and in 1979, it acquired the

Hess's Hess's, originally known as Hess Brothers, was a department store chain based in Allentown, Pennsylvania. The company was founded a single store in 1897, and grew to nearly 80 stores by its commercial peak in the late 1980s. The chains stores were ...

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store under one roof, each area ("department") specializing in a product category. In modern major cities, the department store mad ...

chain. In 1993, the company split into two entities. The

shopping mall A shopping mall (or simply mall) is a large indoor shopping center, usually Anchor tenant, anchored by department stores. The term ''mall'' originally meant pedestrian zone, a pedestrian promenade with shops along it, but in the late 1960s, i ...

portion of the company became a publicly held

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

, Crown American Realty Trust, and Crown American Hotels controlled the company's hospitality businesses. At its peak, Crown American operated 30 shopping malls, the Hess's department store chain (with 73 locations), and 20

hotels A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refr ...

and motels. In 2003, the shopping mall development and management unit, Crown American Realty Trust, was sold to *

PREIT PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as Pennsylvania Real Estate Investment Trust. History The company was founded by Sylvan M. Cohen (1914-2 ...

. The hospitality unit, Crown American Hotels, was retained. In 2005, 22 of the company's 26 hotels were acquired by W2001 Eastern Hotel Realty, an affiliate of the Archon Group, which assumed responsibility for their management. Frank Pasquerilla died from a stroke in 1999. His son, Mark E. Pasquerilla, serves as chairman of Crown American Hotels. Mark Pasquerilla joined the company in 1981 and was named president in 1990. He is a graduate of the

University of Notre Dame The University of Notre Dame du Lac (known simply as Notre Dame; ; ND) is a Private university, private Catholic research university in Notre Dame, Indiana, United States. Founded in 1842 by members of the Congregation of Holy Cross, a Cathol ...

, completed a

master of science A Master of Science (; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree. In contrast to the Master of Arts degree, the Master of Science degree is typically granted for studies in sciences, engineering and medici ...

degree in international relations at the

London School of Economics The London School of Economics and Political Science (LSE), established in 1895, is a public research university in London, England, and a member institution of the University of London. The school specialises in the social sciences. Founded ...

, and studied international affairs at the

University of Cologne The University of Cologne () is a university in Cologne, Germany. It was established in 1388. It closed in 1798 before being re-established in 1919. It is now one of the largest universities in Germany with around 45,187 students. The Universit ...

. Michael Barletta is president and

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

List of former malls

Crown American has owned a total of 30 shopping malls during its history. When they merged with PREIT in 2003, they owned 26 malls, and were partners in one other. Crown American also owned a ground lease for an anchor pad at the Westgate Mall in

Bethlehem, Pennsylvania Bethlehem is a city in Northampton County, Pennsylvania, Northampton and Lehigh County, Pennsylvania, Lehigh counties in the Lehigh Valley region of eastern Pennsylvania, United States. As of the 2020 United States census, 2020 census, Bethle ...

, though they did not own the mall itself.

Notes

References

{{Reflist * ''New York Times'', "Pennsylvania REIT to Buy Crown American Realty Trust," May 15, 2003.
Press Release - 14 May 2003
of Pennsylvania Real Estate Investment Trust: Pennsylvania Real Estate Investment Trust and Crown American Realty Trust Announce Merger Agreement; Combined Company to Become a Leading Mid-Atlantic Shopping Mall REIT *

" ''Intercom Online'', Volume 27, Issue 26,

Pennsylvania State University The Pennsylvania State University (Penn State or PSU) is a Public university, public Commonwealth System of Higher Education, state-related Land-grant university, land-grant research university with campuses and facilities throughout Pennsyl ...

, April 2, 1998. * Tomas Kellner,
Open for Business
" ''Forbes Magazine'', September 6, 2004. * "IRWeblink." IRWeblink. N.p., n.d. Web. 30 Nov. 2013

External links

Crown American Hotels website

Archon Hospitality

Pennsylvania Real Estate Investment Trust
Privately held companies based in Pennsylvania Johnstown, Pennsylvania Hospitality companies of the United States Shopping center management firms Real estate companies established in 1950 Michael Graves buildings 1950 establishments in Pennsylvania