FAIRFAX, Va., Dec. 03, 2015 (GLOBE NEWSWIRE) -- James Carroll, President & CEO of Crestline Hotels & Resorts, LLC (“Crestline”), today announced that Crestline’s portfolio of managed properties has exceeded a significant landmark and is now at 100 hotels coast-to-coast. This comes as Crestline adds two hotels to its portfolio. “This latest addition is a milestone for Crestline,” said Carroll. “With 100 properties in 27 states throughout the U.S., we have solidified our position as one of the largest and most successful hotel management companies in North America.”
The two hotels are the Courtyard Columbus Downtown in Ohio and the Hyatt House Atlanta/Cobb Galleria in Georgia. Collectively the hotels add nearly 300 rooms to Crestline’s portfolio which now totals 15,104 guestrooms. Both hotels are owned by subsidiaries of American Realty Capital Hospitality Trust, Inc. (“ARC Hospitality). The Hyatt House also adds a new brand to the Crestline managed portfolio which includes 18 full, select and extended stay brands as well as a number of independent private label hotels, resorts and conference centers.
“These recent additions, coupled with those announced earlier this year, optimize Crestline’s national strength. With hotels from Monterey, California to Atlanta, Georgia, we are able to deploy senior management teams who are knowledgeable in diverse markets, ensuring our partners and owners individual attention and peak return on investment,” added Carroll.
Mark Fowler, Vice President of ARC Hospitality’s asset management, stated, “We congratulate Crestline on its growth and surpassing the 100-hotel mark. But what impresses us most, is that as Crestline’s portfolio continues to grow, their overall results continue to escalate. Crestline remains 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 throughout 2016.
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 100 hotels, resorts and conference and convention centers with 15,104 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.
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.
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Source:Crestline Hotels & Resorts