TORONTO — After operating in the Great White North for the past year, executives at Toronto-based Crescent Hotels & Resorts Canada say the company is planning significant national expansion over the next 12 months.
With 14 hotels now operating in the full-service, branded and independent segments, Crescent hopes to add another six to 10 management contracts in the next year in response to signs of a recovery in the hotel industry, as well as a growing demand for Crescent’s operating expertise.
“It has always been part of the company’s strategy to have a solid base of operation in Canada,” said Michael George, president and CEO, Crescent Hotels & Resorts, in a press release. “The senior management team has in-depth experience in Canadian markets. We have a full operating company infrastructure in place in Toronto and the field, supported by corporate leaders and resources at the parent company’s headquarters office outside of Washington, D.C. This allows us to achieve significant economies of scale. We see growing interest in our services from both publicly and privately held institutional grade hotel ownership groups.”
“The Canadian hotel industry, like most parts of the world has had a difficult time with the worldwide economic downturn,” said Tony Cohen, senior vice-president of Development, Crescent Hotels. “In this challenging environment, hotel owners seek a high-impact, proven operator who can positively influence revenues while holding down costs, while preparing to take full advantage of the opportunities available as the economy and industry recover. Crescent fills that need and void in Canada and can bring fresh equity to transactions, when appropriate.”
Crescent Hotels & Resorts Canada, a division of Crescent Hotels & Resorts, operates hotels and resorts in Ontario, Alberta and Northwest Territories. The division is headquartered in Toronto.
TORONTO — After operating in the Great White North for the past year, executives at Toronto-based Crescent Hotels & Resorts Canada say the company is planning significant national expansion over the next 12 months.
With 14 hotels now operating in the full-service, branded and independent segments, Crescent hopes to add another six to 10 management contracts in the next year in response to signs of a recovery in the hotel industry, as well as a growing demand for Crescent’s operating expertise.
“It has always been part of the company’s strategy to have a solid base of operation in Canada,” said Michael George, president and CEO, Crescent Hotels & Resorts, in a press release. “The senior management team has in-depth experience in Canadian markets. We have a full operating company infrastructure in place in Toronto and the field, supported by corporate leaders and resources at the parent company’s headquarters outside of Washington, D.C. This allows us to achieve significant economies of scale. We see growing interest in our services from both publicly and privately held institutional grade hotel ownership groups.”
“The Canadian hotel industry, like most parts of the world has had a difficult time with the worldwide economic downturn,” said Tony Cohen, senior vice-president of Development, Crescent Hotels. “In this challenging environment, hotel owners seek a high-impact, proven operator who can positively influence revenues while holding down costs, while preparing to take full advantage of the opportunities available as the economy and industry recover. Crescent fills that need and void in Canada and can bring fresh equity to transactions, when appropriate.”
Crescent Hotels & Resorts Canada, a division of Crescent Hotels & Resorts, operates hotels and resorts in Ontario, Alberta and Northwest Territories. The division is headquartered in Toronto.
