Thursday, January 17, 2008

Crescent Hotels & Resorts Adds the Georgian Terrace Hotel to its Portfolio

Officials of Crescent Hotel & Resorts today announced that the company has added the Georgian Terrace Hotel to its portfolio.

“This landmark luxury property is an Atlanta trophy and a prominent hotel in the southeast region of the United States,” said Michael George, Crescent president and CEO. “Crescent will identify opportunities to further enhance this all-suite hotel, amenities and service levels to bring it to its full potential. Atlanta remains one of the most dynamic hospitality markets in the United States, and this marks our fourth property in the city.”

Built in 1911, the Georgian Terrace Hotel, located at 659 Peachtree Street NE in midtown Atlanta and listed on the National Register of Historic Places, has played host to some of Atlanta’s most pre-eminent events, including the 1939 premier of “Gone with the Wind.” Some of the hotel’s most celebrated guests include Calvin Coolidge, Warren G. Harding, Charles Lindbergh, F. Scott Fitzgerald, Tallulah Bankhead and Rudolph Valentino.

Guest suites feature antique-style furnishings, large bathrooms, oversized windows, microwave oven, full-size refrigerator, and electric range/oven. Additionally, many of the suites provide walk-in closets and balconies with sliding glass doors. The hotel offers more than 16,000 square feet of meeting and Atlanta’s premiere social space, state-of-the-art business center, indoor pool and The Savoy, an upscale restaurant & terrace featuring contemporary Southern cuisine.

“In 2007, we enhanced our portfolio by adding 19 hotels and resorts nationwide, representing premium brands and independents, and we expect this trend to accelerate in 2008,” George said. “The Georgian Terrace perfectly represents the asset caliber with which Crescent will continue to align. Our pipeline is quite robust; we have the resources, size and infrastructure in place for strategic growth associated with sophisticated assets and to produce quality results.”

About Crescent Hotels & Resorts
Headquartered in Fairfax, Va., outside of Washington, D.C., Crescent Hotels & Resorts owns, manages and co-invests in hotel real estate, and is an independent, third-party operator of hotels and resorts. The company currently owns or operates approximately 40 hotels and resorts aggregating more than 7,000 rooms in 19 states. The company’s portfolio encompasses properties in the resort, upper upscale full-service, boutique, convention and premium select-service segments under the premier hotel brands of Marriott, Hilton, Starwood, InterContinental, Radisson, Preferred, and Wyndham, as well as independent hotels and resorts. Additional information about Crescent Hotel & Resorts may be found on the company’s Web site

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