GERMANTOWN, TN AND BETHESDA, MD Equity Inns, a hotel REIT, and Crestline Capital corp. have signed an agreement for Crestline Hotels & Resorts, a subsidiary of Crestline Capital, to manage two of the REITs hotels: the 120-room Residence Inn, Somers Point, NJ, and the 158-room Holiday Inn, Mt. Pleasant, SC.
The two properties are among 18 management contracts that were reassigned by Equity Inns on January 1, 2001. The company previously announced that it had signed an agreement with Hilton Hotels Corp. to manage the other 16 hotels. (1/9/01)