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 •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.