Crescent Hotels appoints executive to oversee expansion efforts

FAIRFAX, VIRGINIA Crescent Hotels & Resorts has named Adam Greene senior vice president of development and investments, responsible for spearheading the company’s expanded acquisition, investment and growth strategy.

“We have always had an aggressive appetite for expansion and have the infrastructure and systems in place to manage our planned growth without placing stress on our existing portfolio,” says Crescent President and CEO Michael George. “As the hotel fundamentals strengthen, we see substantial opportunities to work with premier, strategic investment partners to capitalize on an increased flow of properties coming to market. Adam brings significant expertise to our platform and will play a key role in our strategic future growth plans. We expect to make a number of major announcements over the coming months.

“We will continue to focus on the company’s core strengths, both by property type and geographically,” George says. “Our expertise remains the premium-branded luxury and upper-upscale segments, as well as legendary independent hotels and resorts. We will be very active in the U.S., Canada and the Caribbean, where Crescent has a proven track record, seeking to acquire, joint-venture and third-party manage.”

Greene is the former senior vice president of hospitality finance for Textron Financial, where he oversaw the company’s hospitality investment portfolio. Previously, he was director of West LB, a New York-based branch of a German commercial bank, leading acquisitions and refinancing in the United States and Mexico.

He is the former chief financial officer of hedge fund Mistral International LLC and was vice president of sports advisory and finance for JPMorgan Chase. He began his career with the accounting firm Arthur Andersen LLP. He holds a master of business administration degree in finance and accounting from New York University and a bachelor of arts degree in economics from Cornell University.

Crescent owns, manages and invests in hotel real estate. The company owns or operates 65 hotels and resorts aggregating more than 14,000 guestrooms in the United States, Canada and the Caribbean. The company’s portfolio includes properties in the resort, luxury, upper-upscale, boutique, convention and premium select-service segments under the Hilton, Marriott, Starwood, Hyatt, InterContinental, Radisson and Wyndham flags.