FAIRFAX, VA – October 21, 2015 – 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 is 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.
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