Crestline Hotels & Resorts Selected to Manage New Dual-Branded Hyatt Place and Hyatt House in Arizona

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USA, Fairfax, Virginia. October 03, 2019

Crestline Hotels & Resorts, LLC ("Crestline") announced today its management of the dual-branded Hyatt Place and Hyatt House hotels located on Arizona State University's Tempe Campus. The hotels, which are scheduled to open in the summer of 2020, will be the first dual-branded Hyatt Hotels in the Tempe market and the first hotels to be developed in the ASU Athletic District. The hotels will be a focal point of the 350-acre Novus Corridor on ASU's campus, which will ultimately include 3.9 million square feet of office space, nearly 4,000 homes, and 300,000 square feet of retail and restaurant space. The district was created in 2010 by the Arizona Legislature to generate funding for building and renovating ASU athletic facilities. The hotels are being developed by Mortenson Construction and will be owned by Apple Hospitality REIT, Inc.

The dual-branded hotels will serve the University's leisure and sports guests as well as business travelers. The eight-story building is located on the northeast corner of Veterans Way and Sixth Street across from Wells Fargo Arena. It is designed to offer guests a welcoming place to stay, gather, and enjoy downtown Tempe with immediate access to ASU's largest sporting venues and the Novus Place retail and dining amenities. The hotels will comprise the first buildings in the transformative development of the Novus Innovation Corridor into a world-class, mixed-use urban community. Hotel amenities on the ground floor include 4,000 square feet of banquet and meeting space, outdoor function/pre-function space, multiple patios, guest kitchen, dining, and lobby bar. Rooftop amenities include a pool deck, with pool, bar, outdoor gathering area, and a fitness center with swimming pool. The hotels will be an urban oasis with vibrant pedestrian activity and patios that wrap the building on the west and north sides, and include an indoor/outdoor bar with roll-up doors to the lobby.

"We are honored to manage this truly unique hotel project that is significant for the University and the surrounding community. We look forward to being part of the Novus Innovation Center and helping to promote the growth of knowledge-intensive businesses associated with the University," said James Carroll, Crestline's President and CEO. "This dual-brand property will cater to two unique segments of demand given its combination of extended-stay product and traditional select-service product, while facilitating a very efficient operating model which will enable excellent service and allow guests to unwind in residential style guestrooms," added Carroll.