FAIRFAX, Va., Oct. 21, 2015 (GLOBE NEWSWIRE) -- James Carroll, President & CEO of Crestline Hotels & Resorts, LLC (“Crestline”), today announced that Crestline has added nine full, select and extended stay hotels in four states to its managed portfolio, collectively adding 951 guestrooms. These recent additions result in a company-wide portfolio which now approaches 15,000 rooms. The nine properties, owned by subsidiaries of American Realty Capital Hospitality Trust, Inc. (“ARC Hospitality), are located throughout the U.S. and expand Crestline’s managed portfolio into two additional states, Oregon and Arizona. The newly added hotels are comprised of upper upscale and upscale hotels within the Marriott and Hilton family of brands, including—Courtyard, Residence Inn, SpringHill Suites, Fairfield Inn & Suites, TownePlace Suites, DoubleTree, and Hampton Inn.*
“The addition of these nine new hotels increases Crestline’s managed portfolio into 27 states coast-to coast,” said Carroll. “We are quickly approaching 100 properties in our portfolio and this significant milestone in size, coupled with our professional team of associates who work hand-in-hand with owners, is a formula for continued revenue optimization and success.”
Mark Fowler, Vice President of ARC Hospitality’s asset management division, stated, “We continue to engage Crestline because Crestline excels at growing RevPAR penetration with its yield management practices and improving customer satisfaction. Crestline is a values-driven organization where best practices and an ability to outperform their market competition makes them an excellent business choice.”
Crestline is recognized as a preferred third party hospitality management company whose properties consistently lead their markets in RevPAR and performance. The Company anticipates continued growth in the coming months.
About Crestline Hotels & Resorts, LLC
Crestline Hotels & Resorts, LLC is one of the nation’s largest independent hospitality management companies. Founded in 2000, the company presently manages 96 hotels, resorts and conference and convention centers with 14,474 rooms in 27 states and the District of Columbia. Crestline manages properties under such well-regarded brands as Marriott, Hilton, Intercontinental, Hyatt and Starwood, as well as independent, private label hotels and conference centers throughout the United States. For more information visit: www.crestlinehotels.com.
About American Realty Capital Hospitality Trust, Inc.
American Realty Capital Hospitality Trust, Inc. (“ARC Hospitality”) is a publicly registered non-traded real estate investment trust. ARC Hospitality’s investment strategy focuses on acquiring institutional quality, strategically located lodging properties in North America, partnering with premium national hotel brands. For more information on ARC Hospitality, please contact your financial professional or visit the website: www.ARCHospitalityREIT.com.
*Property List Below.
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as “anticipate”, “believe”, and “intend” indicate a forward-looking statement; however, not all forward-looking statements include these words.
*Listing of Newly Added Hotels to Crestline’s Managed Hotel Portfolio:
- Residence Inn Fort Wayne, IN
- Hampton Inn Ft. Wayne – Southwest, IN
- DoubleTree by Hilton Hotel Baton Rouge, LA
- Fairfield Inn & Suites Baton Rouge South, LA
- SpringHill Suites Baton Rouge South, LA
- TownePlace Suites Baton Rouge South, LA
- Hampton Inn Medford, OR
- Courtyard Flagstaff, AZ
- SpringHill Suites Flagstaff, AZ
Source:Crestline Hotels & Resorts