Palisades, New York – HNA Group has completed the acquisition of International Business Machines' (IBM) 106-acre, 450,000-square-foot Palisades Conference Center, located 20 miles north of Manhattan, as a resource and training center for HNA Group's global executive team. The conference center property is located at 334 Route 9W Palisades, New York 10964. Terms of the transaction were not disclosed.

The conference center will now be known as the HNA Palisades Premier Conference Center. HNA has retained Crescent Hotels & Resorts to manage the property on its behalf.

HNA Group is a global multinational with interests in airport services, transportation, real estate, financial services, leasing, tourism, hotels, and logistics. HNA has a 200,000-strong global workforce.

HNA Group was attracted to Rockland County, and Palisades in particular, because of the community's proximity to New York City and the well-educated workforce in Palisades and the surrounding communities. HNA Group said that as its business expands in North America, the Group will need talented, dedicated employees to help fuel its growth

International Business Machines (IBM) plans to maintain a presence at the property. The Palisades Conference Center provides leading financial institutions, universities and services organizations with training and education facilities, as well as hosting customer events.

HNA Group intends to maintain the current character of the property and is committed to operating the conference center in a manner that is sensitive to the needs of the Palisades and Rockland communities. In addition to training events for its global workforce, HNA plans to host cultural and social events for its new neighbors.

About Crescent Hotels & Resorts

Crescent Hotels & Resorts is an award-winning, nationally recognized, operator of hotels and resorts with over 120 properties in the United States & Canada. Crescent is one of the few elite management companies approved to operate upper-upscale and luxury hotels under the brand families of Marriott, Hilton, and Hyatt. Crescent also works with a collection of independent and lifestyle properties under the Latitudes Collection umbrella. These properties include PGA National Resort, The Opus Westchester, Autograph Collection, and The Williamsburg Inn. Powered by innovative, forward-thinking experts, Latitudes is a modern management platform for lifestyle hotels and resorts where creative concepts connect with modern travelers from urban boutique hotels to oceanside resorts.

Crescent's clients include premiere REITs, private equity firms and major developers. For more information, please visit www.crescenthotels.com and www.latitudesbycrescent.com or connect with Crescent on LinkedIn.