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Article Excerpt
Crestline Hotels & Resorts to Manage the Portfolio of 17 Properties
MCLEAN, Va., June 5 /PRNewswire/ -- Barcelo Crestline Corporation, the parent company of Crestline Hotels & Resorts, Inc. and one of the leading hotel management and leasing companies in North America, today announced the acquisition of certain assets of Tidewater Hotels & Resorts, Inc. of Virginia Beach, VA. Tidewater's portfolio includes the management of 17 full and select service hotels throughout Virginia and North Carolina, as well as a full-service, independently operated regional laundry facility. The 17 properties will add 2,400 rooms to Crestline Hotels & Resorts' managed portfolio increasing Crestline's ranking to the fourth largest independent hospitality management company in North America with nearly 14,600 rooms, encompassing 66 open hotels and 4 under construction in 14 states and the District of Columbia. The acquisition is expected to be completed in June and is anticipated to occur concurrently with Apple REIT...
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