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Article: Crestline Hotels & Resorts, Inc. and Stormont Trice Development Corporation Form Strategic Alliance.
- Article from:
- PR Newswire
- Article date:
- April 14, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BETHESDA, Md., April 14 /PRNewswire/ --
Crestline Hotels & Resorts, Inc., a wholly-owned hotel management subsidiary of Crestline Capital Corporation, (NYSE: CLJ), has formed a strategic alliance with Stormont Trice Development Corporation (STDC), a privately-held, Atlanta-based hotel development company.
Under terms of the agreement, Crestline Hotels & Resorts has the right of first refusal to manage and co-invest in STDC-developed hotels. Concurrently, STDC has the right of first refusal to provide development and major renovation services for certain Crestline Hotels & Resorts-managed hotels.
"This is an important first step for our newly ...