HORSESHOE BAY, Texas—Ownership of the Horseshoe Bay Resort has entered into a management agreement with Crescent Hotels & Resorts. Crescent, based in Fairfax, Va., is a nationally recognized operator of hotels and resorts with properties throughout Unites States and Canada. The announcement concludes a two-year search by ownership of the Resort for an operator who showed the talent and experience required to run Horseshoe Bay Resort.
M.D. Jaffe, Jr., chairman of Horseshoe Bay Resort, stated, “We are thrilled to have Crescent Hotels & Resorts at Horseshoe Bay Resort. We believe that Crescent is the correct choice for Horseshoe Bay Resort and we look forward to what they will do here with their vast knowledge and expertise in the hotel and resort industry.”
Ron L. Mitchell, vice chairman the Resort stated, “Opportunity once again knocks on the door of this legendary Texas destination resort and members club. We welcome Crescent and the high performance standards reflected in their success as one of the country’s elite and accomplished operators of hotels and resorts. Horseshoe Bay Resort shall showcase Crescent’s management expertise around the vision of ownership, and the heritage of its founders.”
The initial development of Horseshoe Bay and Horseshoe Bay Resort from its conception and operational control in the early 1970s, until the mid-1990s was under the leadership of founders Norman and Wayne Hurd. The Jaffe Group acquired 100 percent ownership and operations in 1995 to present day.
“The Horseshoe Bay Resort is a great fit for our expertise,” said Michael George, chief executive officer of Crescent Hotels & Resorts. “Our unique approach as an elite property manager, combined with our award-winning standards for service, and our experience across Texas and other major destination markets, will maximize the potential of this resort.”
Horseshoe Bay Resort ownership plans to continue to brand the Resort as an independent property.