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Article: United States : Crestline Buys 17-Hotel Portfolio from Tidewater.

Article from:
TendersInfo
Article date:
June 7, 2008
Copyright

Byline: pinto03

Barcelo Crestline Corp. has acquired 17 hotels in Virginia and North Carolina. Barcelo Crestline, the parent company of Crestline Hotels & Resorts Inc., purchased the properties from Virginia Beach firm Tidewater Hotels & Resorts Inc. The portfolio consists of a total of some 2,400 rooms in 15 hotels In Virginia and two in North Carolina. The purchase also includes a full-service regional laundry facility in Virginia Beach. CB Richard Ellis Inc. represented Barcelo Crestline in the transaction. FInancial details of the transaction were not revealed.

With this acquisition, expected to be finalized this month, Crestline Hotels becomes the ...

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