Crescent Hotels & Resorts will spend $ 600 million on new hotels

The company Crescent Hotels & Resorts, whose headquarters is located in Fairfax (Virginia, USA), plans to invest $ 600 million in the acquisition of hotels in 2008.

Last year the company spent to purchase 19 hotels for $ 400 million in the first week of 2008 Crescent Hotels & Resorts acquired the Georgian Terrace Hotel to 307 rooms in Atlanta; Hotel Carteret to 117 rooms, located in New Jersey, and Baymont Inn & Suites at 130 numbers near the amusement park Disney World in Orlando.

In addition, the company plans to expand its portfolio through the development market. Over the next two years, it will build from 8 to 10 new hotels. January 2 opened its first project this year - Hotel Lugano in Fort Lauderdale.

According to the forecasts of the company PKF Hospitality, this year the yield of hotel rooms will increase by 4,5%, reports Prian.ru.

Topic: USA, PKF