Crestline Hotels & Resorts Adds Two Denver Hotels to Management Portfolio

USA, Fairfax, Virginia. August 11, 2020

James Carroll, President and CEO of Crestline Hotels & Resorts, LLC ("Crestline") announced that it has been appointed to manage two hotels: the 299 guestroom Holiday Inn Denver East - Stapleton, Denver, CO and the 400 guestroom Renaissance Denver Stapleton Hotel, Denver, CO. "We're excited to build upon our portfolio of full-service hotels that Crestline manages," Mr. Carroll said. "During the pandemic, we've adopted new sales strategies to ensure that the hotels remain open." Carroll added, "By tailoring our hotel offerings to the specific needs of small business groups, we were able to successfully shift the hotels' business mix." Crestline now manages six hotels in Colorado.

The Holiday Inn® Denver East - Stapleton is located at 3333 Quebec Street, Denver, Colorado. The newly redesigned hotel is conveniently located midway between downtown Denver and Denver International Airport. It offers breathtaking views of the Rockies and the city skyline that may be viewed from guestroom balconies. Guests can enjoy a new restaurant concept Burgers & Crafts, Shakes and Fries. Additional amenities include complimentary wireless Internet access, a 24-hour fitness center, heated outdoor pool, a business center, and complimentary shuttle service to the Northfield Shopping center. For meetings and special events, the hotel has 13,063 square feet of flexible event space featuring the 3,240 square foot Denver Ballroom, along with 14 additional meeting rooms. The hotel offers complimentary covered and uncovered parking and is 15 miles from Denver International Airport via I-70. For more information visit: www.ihg.com or 303-321-3500.0

The Renaissance Denver Stapleton Hotel is located at 3801 Quebec Street, Denver, Colorado. Welcoming guests with contemporary style and upscale amenities, the hotel is conveniently situated between downtown and Denver International Airport. The architecturally stunning hotel offers a tech-enabled retreat with all guestrooms and suites equipped with plug-in panels and Bluetooth-equipped TVs. Many of the chic rooms offer scenic views of the Colorado mountains and downtown Denver. For dining, guests may enjoy delicious regional American cuisine at Fifty300 or head to the lobby lounge for cocktails. For meetings, social galas, or weddings the hotel has 42,522 square feet of newly updated event facilities with 22 distinct meeting rooms that can accommodate up to 1,100 guests. When it's time to explore the area guests will find the Denver Coliseum, Bluebird Theater, Dick's Sporting Goods Park and the Denver Zoo are just minutes away and the light rail station is nearby. The hotel is 15 miles from Denver International Airport and is easily accessed from I-70. For more information visit: www.marriott.com or 303-399-7500.

Important Notice: The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate", "believe", and "intend" indicate a forward-looking statement; however, not all forward-looking statements include these words.

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Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.