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the Franklin Marriott and Cool Springs Conference Center and Hyatt Regency Wichita |
BETHESDA, MD, August 28, 2000 � Crestline Capital Corporation (NYSE:
CLJ), a major investor, lessee and manager of hotel real estate, announced
that it�s wholly-owned management subsidiary, Crestline Hotels & Resorts,
Inc., has signed agreements to manage the Franklin Marriott and Cool Springs
Conference Center and Hyatt Regency Wichita, effective August 1, 2000.
The Franklin Marriott is owned by Cool Springs Hotel Associates, LLC and
the Hyatt Regency Wichita is owned by East Bank Hotel Associates, LLC.
�We continue to implement our strategy by adding these exceptional hotels to our management portfolio,� said Bruce D. Wardinski, Crestline Capital Chairman of the Board, President and Chief Executive Officer. �The addition of a new Marriott hotel and our first Hyatt hotel further emphasizes the strength of brands that we manage. These high quality hotels represent our focus to grow our hotel management business with the underlying goal to become the premier independent hotel management company in the United States,� stated Mr. Wardinski. Donald R. Trice, Crestline Hotels & Resorts� President and Chief Executive Officer emphasized, �As one of only four Hyatt franchisees, and the only franchise company with both the Marriott and Hyatt flags, Crestline Hotels & Resorts continues to demonstrate its ability to partner with premier franchise companies.� Mr. Trice continued, �These high quality properties are indicative of the types of properties that we will target to grow Crestline Hotels & Resorts.� The 300-room Franklin Marriott and Cool Springs Conference Center is
located at 700 Cool Springs Boulevard in the Cool Springs district of historic
Franklin, Tennessee. Only minutes from downtown Nashville, the property
features over 21,000 square feet of meeting space, a concierge level, business
center, health club, indoor pool and a restaurant and lounge.
150 rooms feature The Room that Works, rooms specifically designed for
the business traveler. Crestline Hotels & Resorts will manage
both the hotel and conference center.
Crestline Capital Corporation, parent company of Crestline Hotels & Resorts, is the nation�s largest independent hotel leasing company, majority owner of an upscale extended-stay hotel portfolio, and owner of one of the nation�s premier senior living community portfolios. Crestline Hotels & Resorts manages and leases 30 hotels, resorts
and conference and convention centers with nearly 6,020 rooms in eleven
states and the District of Columbia. Crestline Hotels & Resorts
manages properties independently and under such well regarded brands as
Marriott, Hyatt, Hilton, Renaissance, Crowne Plaza, Holiday Inn, Courtyard
by Marriott and Residence Inn.
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Heather Scanlon (240) 694-2067 Michael Chen (240) 694-2191 www.crestlinecapital.com |