HORSESHOE BAY, TX—The Horseshoe Bay Resort has entered into a management agreement with Crescent Hotels & Resorts.
Crescent, based in Fairfax, VA, is an operator of hotels and resorts with properties throughout the U.S. and Canada. The deal concludes a two-year exhaustive search by the resort owners for an operator.
“We are thrilled to have Crescent Hotels & Resorts at Horseshoe Bay Resort. We believe Crescent is the correct choice for Horseshoe Bay Resort and we look forward to what they will do here with their vast knowledge and expertise in the hotel and resort industry,” said M.D. Jaffe, Jr., chairman of Horseshoe Bay Resort.
The resort will embark on a multimillion-dollar project for both new and improved amenities with initial construction scheduled to begin in the fall. The owners plan to continue to brand the resort as an independent property.
“The Horseshoe Bay Resort is a great fit for our expertise,” said Michael George, CEO of Crescent Hotels & Resorts. “Our unique approach as an elite property manager, combined with our award-winning standards for service, and our experience across Texas and other major destination markets, will maximize the potential of this resort.”