Crestline Hotels & Resorts Expands Portfolio with Strategic Acquisition
In a significant move that further solidifies its position in the hospitality sector, Crestline Hotels & Resorts has successfully acquired the management contracts of 13 hotels, previously part of the Five Senses Hospitality portfolio. While specifics regarding the financial aspects of the deal have not yet been disclosed, this acquisition represents a strategic expansion for Crestline, particularly in Colorado.
Enhancing the Colorado Presence
The newly acquired properties comprise a total of 1,240 keys, with a remarkable concentration of hotels located in Colorado. Crestline has bolstered its footprint in this scenic state by adding 11 new properties to its existing collection. This acquisition is not just a numerical gain; it enhances Crestline’s ability to offer diverse accommodation options in popular tourist destinations, thereby catering to a wide range of travelers.
Geographic Expansion
Beyond Colorado, Crestline’s acquisition extends its reach into Kansas and Arkansas, showcasing the company’s ambition to grow across varied geographical markets. Now managing a total of 135 hotels, equating to approximately 18,400 rooms, Crestline operates in 29 states and the District of Columbia, reinforcing its status as a significant player in the hospitality industry.
A Diverse Portfolio
The newly acquired portfolio is notable not just for its size but also for its diversity. It includes six hotels from the Marriott family of brands, two Hilton Tapestry properties, an IHG branded hotel, and a Hyatt House. Furthermore, it also features two Choice Hotels, including an Ascend Collection property, along with one independent private label hotel. This variety not only meets different guest preferences but also positions Crestline to capitalize on various market segments.
Upcoming Developments
Crestline’s growth trajectory continues with the owner of six hotels in the new portfolio, Dallas-based Bedford Lodging, engaging Crestline to manage an additional Tapestry by Hilton hotel currently under construction in Ft. Worth, Texas. This property is set to open later this year, showcasing Crestline’s proactive approach to expanding its management capabilities and offerings.
Spotlight on the New Additions
The specific locations of the newly integrated hotels reflect a blend of vibrant destinations and unique experiences. The properties include:
- SpringHill Suites Denver West/Golden, Lakewood, Colorado – 127 rooms
- Courtyard Denver Southwest/Lakewood, Lakewood, Colorado – 90 rooms
- Residence Inn Denver Southwest/Lakewood, Lakewood, Colorado – 102 rooms
- The Golden Hotel, Golden, Colorado – 62 rooms
- AC Frisco Colorado, Frisco, Colorado – 133 rooms
- Fairfield Inn & Suites Boulder Longmont, Longmont, Colorado – 95 rooms
- Comfort Inn & Suites Carbondale on the Roaring Fork, Carbondale, Colorado – 76 rooms
- Holiday Inn Express & Suites Colorado Springs Airport, Colorado Springs, Colorado – 94 rooms
- Hyatt House Colorado Springs Airport, Colorado Springs, Colorado – 112 rooms
- The Hoffmann Hotel, Basalt, Colorado – 122 rooms
- The Pad Silverthorne, Silverthorne, Colorado – 39 rooms
- Aloft Wichita, Wichita, Kansas – 126 rooms
- The Waters, Hot Springs, Arkansas – 62 rooms
These properties symbolize a blend of upscale accommodations and essential amenities, catering to both leisure and business travelers.
Commitment to Quality Management
Crestline’s President and CEO, James Carroll, highlighted the company’s commitment to ensuring a seamless transition as they take over the management of these properties. “We are hitting the ground running as we assume management,” Carroll stated. The team’s deployment to all acquired properties aims to lay the foundation for excellence in guest service, community involvement, and robust owner relations.
This acquisition is not merely an expansion of physical assets for Crestline Hotels & Resorts; it represents the company’s dedication to enhancing guest experiences and maintaining a high standard of service throughout its extensive portfolio. With a focus on best practices and operational excellence, Crestline seems poised for continued success in the competitive hospitality landscape.