James Carroll, President & CEO of Crestline Hotels & Resorts, LLC ("Crestline"), today announced that Crestline has added 13 full, select, and extended stay hotels in eight states to its management portfolio. Collectively, the hotels add 1,493 guestrooms to Crestline's managed portfolio, resulting in a company-wide portfolio which now encompasses more than 13,500 rooms. The 13 properties, owned by American Realty Capital Hospitality Trust, Inc. ("ARC Hospitality), are located throughout the U.S. from Nevada to South Carolina and are comprised of upper upscale and upscale hotels within the Marriott, Hilton, Hyatt and IHG family of brands, including - Courtyard, Residence Inn, SpringHill Suites, Hyatt Place, Hilton Garden Inn, Hampton Inn, Homewood Suites and Holiday Inn.*
"These properties are a welcome addition to our managed portfolio which continues to exhibit strong growth," said Carroll. "We anticipate a seamless transition as our senior leaders work with each property's employees to introduce our vision, values and best practices, while working to enhance excellence in guest service."
Mark Fowler, Vice President of ARC Hospitality's asset management division, stated, "ARC Hospitality seeks to engage best-in-class management companies to operate its hotel portfolio. We are excited about growing the number of Crestline-managed properties in our portfolio given their demonstrated asset management expertise and ability to drive RevPAR at their managed hotels."
Crestline is recognized as a preferred independent hospitality management company whose properties consistently lead their markets in RevPAR and performance. The Company anticipates continued growth in conjunction with ARC Hospitality. Earlier this year, Crestline added 34 properties to its portfolio in conjunction with ARC Hospitality's acquisition of the Equity Inns portfolio from Goldman Sachs.
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 87 hotels, resorts and conference and convention centers with 13,523 rooms in 25 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 Attached.
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; although not all forward-looking statements include these words.
Listing of Newly Added Hotels to Crestline's Managed Hotel Portfolio:
-- Courtyard Chicago Elmhurst/Oakbrook Area
-- Hyatt Place Minneapolis Airport-South
-- Courtyard Jacksonville Airport Northeast
-- Residence Inn Jacksonville Airport
-- Hampton Inn Grand Rapids-North
-- SpringHill Suites Grand Rapids-North
-- Hampton Inn East Lansing
-- Hampton Inn Boston/Peabody
-- Homewood Suites by Hilton Boston-Peabody
-- Hampton Inn Champaign/Urbana
-- Hampton Inn & Suites Nashville/Franklin (Cool Springs)
-- Hyatt Place Las Vegas
-- Holiday Inn Charleston - Mount Pleasant