Crestline Hotels & Resorts to Grow Managed Hotel Portfolio
Thursday January 23rd, 2014 - 10:03AM O
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FAIRFAX, VA— Now that its acquisition by AR Capital LLC (ARC) is complete, Crestline Hotels & Resorts LLC is poised for major expansion, according to the company.
Crestline expects to source, underwrite and enter into new management agreements for select-service and full-service hotels affiliated with major brands, such as Marriott, Hilton, Hyatt, IHG and Starwood. Crestline will target stabilized properties in mostly primary and secondary markets for acquisition.
Crestline currently manages 44 hotels representing 7,500 rooms and $375 million of annual hotel revenues. Included in its portfolio are hospitality brands including those of Marriott, Hilton, IHG, Starwood and multiple independent hotels. Crestline has more than 3,000 associates, including 50 corporate staff.
Tags: Crestline Hotels and Resorts • AR Capital LLC • Hospitality • Management Companies •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.