Barcelo Crestline Acquires Four Select Service Hotels from RLJ
Crestline to Manage the Properties
FEBRUARY 2, 2007. Barcelo Crestline Corporation, the parent company of Crestline Hotels & Resorts, Inc. and one of the leading hotel management and leasing companies in North America, today announced the acquisition of four select service hotels from RLJ Development, LLC. The properties include: The Homewood Suites by Hilton, Washington, DC; The Courtyard by Marriott Providence, RI; The Hilton Garden Inn Chicago Downtown/Magnificent Mile; and The Courtyard by Marriott Baltimore Inner Harbor. The financing was provided by Merrill Lynch. Crestline Hotels & Resorts will assume management of all four of the properties for Barcelo Crestline. Crestline Hotels & Resorts already held the management contract for the Courtyard by Marriott Baltimore Inner Harbor.
"These four properties are an excellent complement to our portfolio," said Bruce Wardinski, Chairman & CEO of Barcelo Crestline Corporation. "Each of the hotels is in a prime business destination that also benefits from leisure travelers. Crestline Hotels & Resorts brings proven experience in successfully managing hotels of this type and we look forward to a strong return on our investment," added Wardinski.
Collectively the hotels will add more than 950 guest rooms to Barcelo Crestline's portfolio. The Homewood Suites by Hilton Washington, DC is located at 1475 Massachusetts Avenue NW. It includes 175 guest suites and five meeting rooms comprising 2300 square feet of meeting space. The Courtyard by Marriott Providence is located at 32 Exchange Terrace, Providence. It offers 216 guest rooms and five meeting rooms comprising 3500 square feet of event space. The Hilton Garden Inn Chicago Downtown/Magnificent Mile is located at 10 E Grand Avenue, Chicago. The hotel has 357 guest rooms and seven meeting rooms comprising 5727 square feet of meeting space. And the Courtyard by Marriott Baltimore Inner Harbor is located at 1000 Aliceanna St, Baltimore. The hotel has 205 guest rooms and five meeting rooms comprising 2252 square feet of meeting space.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
