Crestline Opens Charlotte City Center Courtyard
BETHESDA, Md., Crestline Capital Corporation CLJ announces it has opened the Charlotte City Center Courtyard, located in Charlotte, N.C. Located at 237 South Tryon Street, the Charlotte City Center Courtyard will operate as a Marriott franchise, owned by Charlotte CHM, LLC, and developed by Watson Hospitality Associates, both of Charlotte, N.C. Crestline Hotels & Resorts, Inc.
Bruce D. Wardinski, Chairman of the Board, President and Chief Executive Officer of Crestline Capital Corporation stated, "This is our sixth managed Courtyard, and our seventeenth Marriott-branded property overall. Its outstanding location and great product offering make it a strong competitor in the Charlotte market."
With this addition to its portfolio, Crestline increases its concentration of urban, high-rise limited service hotels. Dave Durbin, Crestline's Chief Operating Officer, stated, "In locations like Charlotte, downtown limited- service hotels typically generate stronger financial returns to owners than full-service hotels in the same market. In addition, they are also usually less susceptible to downturns in the economy."
Situated eight miles from Charlotte/Douglas International Airport and one block from downtown, the Charlotte City Center Courtyard caps off the South Tryon Square Building located in the heart of Uptown Charlotte, offering guests convenient access to Ericsson Stadium, Charlotte Coliseum, Discovery Place Science Museum and the Overstreet Mall.
The 181-room hotel guest room features four suites with a king-size bed, refrigerator and microwave oven, and six king-size suites with whirlpool spas. Other guest amenities include oversized work desks with complimentary high speed Internet access, 25" televisions, a heated outdoor skyline swimming pool, indoor Jacuzzi and fitness center, and a 24-hour business library. The 16-story hotel also offers three meeting rooms with 1,500 square feet of flexible meeting space to accommodate small meetings and functions of up to 100 people. The hotel's Courtyard Cafe offers a full breakfast.
About the companies
Crestline Capital Corporation is the parent company of Crestline Hotels & Resorts, among the nation's leading independent hotel management companies, and is the owner of one of the nation's premier senior living community and hotel portfolios. Additional information about Crestline Capital Corporation is available at the company's web site:
Crestline Hotels & Resorts manages and leases 36 hotels, resorts and conference and convention centers with approximately 7,000 rooms in twelve states and the District of Columbia. Crestline Hotels & Resorts manages properties independently and under such well-regarded brands as Marriott, Hyatt, Hilton, Sheraton, Renaissance and Crowne Plaza. Additional information about the hotel management company is available at the company's web site:
Note: Certain matters discussed herein are forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Certain, but not necessarily all, of such statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will," "should," "estimates" or "anticipates" or the negative thereof or comparable terminology. All forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual transactions, results, performance or achievements of the Company to be materially different from any future transactions, results, performance or achievements expressed or implied by such forward-looking statements. These may include: (i) national and local economic and business conditions or governmental regulations that will affect demand, prices, wages or other costs for hotels and senior living communities; (ii) the level of rates and occupancy that can be achieved by such properties; (iii) the Company's ability to compete effectively in areas such as access, location, quality of properties and rate structures; (iv) the ability to maintain the properties in a first-class manner (including meeting capital expenditure requirements); (v) the availability and terms of financing; (vi) governmental actions and initiatives including the REIT Modernization Act; and (vii) changes to the public pay systems for medical care and the need for compliance with environmental licensure and safety requirements. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions and business opportunities, it can give no assurance that its expectations will be attained or that any deviations will not be material. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.