FAIRFAX, VA – September 1, 2015 – 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.
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