Crescent makes strong start to 2008

17th Jan 2008

Crescent Hotel &
Resorts has added three new hotels to its
portfolio during the first week of 2008.The properties are the luxury, all-suite Georgian
Terrace Hotel in Atlanta, the Radisson Hotel Carteret in New Jersey and the
Baymont Inn & Suites International Drive/Orlando in Florida. Separately,
the company said that it opened the il Lugano, an all-suite, luxury hotel
in Fort Lauderdale, Fla. affiliated with Preferred Hotels & Resorts.

  “In 2007, we acquired outright or in joint ventures more than one-half
billion dollars in hotel real estate, and we plan to be even more active in
2008, targeting to deploy $600 million in the next 12 months,” said Michael
George, Crescent president and CEO. “Our pipeline is quite robust; we have
the resources, size and infrastructure in place for strategic growth
associated with quality real estate and sophisticated assets.”


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