CEDAR RAPIDS - On Thursday, the previous owners of the Crowne Plaza Five Seasons hotel were removed from their posts.

Wednesday night we reported the owners of the hotel were heading into foreclosure. On Thursday, a new managing firm moved in.

The mood at this hotel has changed completely in the last 12 hours. Thursday for the first time in a while, every employee looked us in the eye and said they are excited to go to work Friday.

Out with the old, in the with the new. Because the current owners, Kronos Hotels, defaulted on their loan with lenders and an equity group, things are changing. The people who hold the purse strings for Kronos are taking control of 16 hotels now, which includes the Crowne Plaza Five Seasons.

"The sun is shining and a beautiful day and we are going to start a new leaf at the Crowne Plaza," said Markita Grant, Crowne Plaza Employee.

Prism Hotels and Resorts based in Dallas is now the interim manager until a month from now when the court decides the fate of Kronos Hotels.

City Manager Jim Prosser is excited, he says Prism was one of the original bidders for the hotel, but Kronos won out.

"For my recollection they will bring with them what is needed to help address some of the issues the hotel has," said Jim Prosser, Cedar Rapids City Manager.

Prism is meeting with workers all day. Employees say they're already being reassured they will get paychecks that won't bounce along with insurance and proper vacation time.

Another note, all the employees said the new managers will reopen the kitchens and get the restaurants going again in the near future.

Prism managers wouldn't comment about the situation, they said they're only a few hours into this, but will be giving a comment very soon. We saw one of the former Kronos managers outside, but he declined to comment.