Finance & DevelopmentFinanceCrestline Hotels to Invest $300 Million in Acquisitions and More

Crestline Hotels to Invest $300 Million in Acquisitions and More

FAIRFAX, Va.–Third-party management company Crestline Hotels & Resorts, LLC, announced the creation of a $300 million fund that Crestline will use to acquire hotels and invest in properties with strategic capital partners. The company says that the goal of these investments is to continue the steady growth of its management portfolio. Crestline will be investing $150 million of equity and is targeting 50 percent debt for the fund.

“We are actively identifying investment opportunities for our new fund within the upscale and upper-upscale hospitality segments,” James Carroll, Crestline’s president and CEO, says. “Crestline will use the fund and our management expertise to convert underperforming hotels into lucrative investments that outperform their competitive sets. The fund has flexible investment parameters, allowing us to acquire hotels, invest in joint ventures, provide mezzanine financing, and we will consider entering into long-term leases or performance guarantees. We’ve been very successful steadily growing our management business with our current owners based on our strong track record; and this fund will open up new opportunities for us to spur even greater growth of our management portfolio.”

“We are very excited about launching this fund and investing directly into our management portfolio,” Kevin Coyer, director of investment and development for Crestline, adds. “I look forward to talking with owners and investors about how we can provide capital and expertise to turn hotels into better-performing investments.”

 

Photo: Westin Washington National Harbor Hotel, a Crestline-managed property

RELATED ARTICLES

BWH Hotels’ Soft Brands Empower Independent Hotels with Global Strength 

As travelers increasingly seek authentic, locally inspired experiences, BWH Hotels is meeting the moment with a diverse portfolio of soft brands that blend individuality...

Waldorf Astoria New York to Reopen After Renovation

NEW YORK CITY—Waldorf Astoria New York offered the first looks at a restoration of the hotel’s architecture with new designs. The property, which closed...

J.D. Power: 2025 NAGSI Study Shows Hotel Guests Want Smart TVs, Good Hotel Mobile Apps

TROY, Michigan—Hotel guests in every segment feel they are getting better value for their travel dollar, and according to the J.D. Power 2025 North...

HREC Arranges Sale of Homewood Suites by Hilton Tampa-Brandon

DENVER, Colorado; TAMPA, Florida; ATLANTA, Georgia—HREC Investment Advisors announced that it has arranged the sale of the 126-guestroom Homewood Suites Tampa Brandon in Tampa,...

Nomadix Inc. Signs Strategic Agreement With TD SYNNEX

PLANO, TEXAS—Nomadix Inc. announced a distribution agreement with TD SYNNEX, a global distributor and solutions aggregator for the IT ecosystem. Through this agreement, Nomadix’s...

Hyatt Regency Times Square Opens

CHICAGO and NEW YORK—Hyatt Regency Times Square, Manhattan's first Hyatt Regency hotel, made its debut, and the property is now welcoming guests. The hotel...