News for the Hospitality Executive
& Resorts Appoints Adam Greene as
WASHINGTON, D.C., March 7, 2011—Crescent Hotels & Resorts today announced that Adam Greene has joined the company as senior vice president of development & investments. In the new role, he will be responsible for spearheading the company’s expanded acquisition, investment and growth strategy.
“We have always had an aggressive appetite for expansion and have the infrastructure and systems in place to manage our planned growth without placing stress on our existing portfolio,” said Michael George, Crescent Hotels & Resorts president and CEO. “As the hotel fundamentals strengthen, we see substantial opportunities to work with premier, strategic investment partners to capitalize on an increased flow of properties coming to market. Adam brings significant expertise to our platform and will play a key role in our strategic future growth plans. We expect to make a number of major announcements over the coming months.”
Greene is the former senior vice president, hospitality finance, with Textron Financial, the financing arm of the Fortune 500 company, where he oversaw the company’s hospitality investment portfolio. Previously he was director of West LB, a New York-based branch of a German commercial bank, leading acquisitions and refinancing in the U.S. and Mexico.
He is the former CFO of the hedge fund Mistral International, LLC and was vice president, sports advisory and finance, with JPMorgan Chase, where he worked on transactions ranging from $100 million to $3 billion. He began his career with the accounting firm Arthur Andersen, LLP. He holds an MBA in finance and accounting from New York University and a BA in economics from Cornell University.
“We will continue to focus on the company’s core strengths, both by property type and geographically,” George said. “Our expertise remains the premium-branded luxury & upper-upscale segments, as well as legendary independent hotels and resorts. We will be very active in the U.S., Canada and the Caribbean, where Crescent has a proven track record, seeking to acquire, joint-venture and third-party manage.”About Crescent Hotels & Resorts
With corporate offices in Fairfax, Va., outside of Washington, D.C., and Toronto, Canada, Crescent Hotels & Resorts owns, manages and co-invests in hotel real estate, and is a North American recognized Top 10 independent, third-party operator of hotels and resorts. The company currently owns or operates 65 hotels and resorts aggregating more than 14,000 rooms in the United States, Canada and the Caribbean. The company’s portfolio encompasses properties in the resort, luxury, upper upscale, boutique, convention and premium select-service segments under the premier hotel brands of Hilton, Marriott, Starwood, Hyatt, InterContinental, Radisson and Wyndham, as well as ledgendary independent hotels and resorts. Additional information about Crescent Hotel & Resorts may be found on the company’s Web site www.chrco.com.
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