Horseshoe Bay Resort changes management

Ownership of the AAA Four Diamond Horseshoe Bay Resort, the Jaffe Group, has entered into a management agreement with Crescent Hotels & Resorts that will lead to a multi-million dollar expansion.
Crescent, based in Fairfax, Virginia, is a nationally recognized operator of hotels and resorts with properties throughout Unites States and Canada. The announcement of the Aug. 3 agreement concludes a two-year exhaustive search by ownership of the resort for an operator who showed the talent and experience required to run Horseshoe Bay Resort.
“We are thrilled to have Crescent Hotels & Resorts at Horseshoe Bay Resort,” said M.D. Jaffe, Jr., chairman of Horseshoe Bay Resort. “We believe that 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.”
“Opportunity once again knocks on the door of this legendary Texas destination resort and members club,” said Ron L. Mitchell, vice chairman the Resort. “We welcome Crescent and the high performance standards reflected in their success as one of the country’s elite and accomplished operators of hotels and resorts. Horseshoe Bay Resort shall showcase Crescent’s management expertise around the vision of ownership, and the heritage of its founders.”
“Ownership's desire to continue to build Horseshoe Bay Resort into one of the great iconic resorts in the country led them to Crescent Hotels & Resorts,” reads a press release on the announcement. “The resort’s signature amenities cannot be replicated in today’s economic environment. To be stewards of such a great asset is important to ownership, and to have Crescent continue its development with the same attention and care will be exciting.”
The resort is set to embark on a multi-million dollar project for both new and improved amenities with initial construction scheduled to begin in the fall of 2016.
The initial development of Horseshoe Bay and Horseshoe Bay Resort from its conception and operational control in the early 1970’s, until the mid-1990’s was under the leadership of founders Norman and Wayne Hurd. The Jaffe Group acquired one hundred percent ownership and operations in 1995 to present day.
“The Horseshoe Bay Resort is a great fit for our expertise,” said Michael George, chief executive officer 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.”
Horseshoe Bay Resort ownership plans to continue to brand the resort as an independent property, according to the announcement.
Crescent Hotels & Resorts
Crescent Hotels & Resorts is a nationally recognized top-5 operator of hotels and resorts, currently operating more than 100 hotels and resorts in the United States and Canada, including independent lifestyle hotels and resorts. It is one of the few elite management companies approved to operate upper-upscale and luxury hotels under the brand families of Marriott, Hilton, Starwood, Hyatt and IHG. Crescent’s clients are made up of hotel Real Estate Investment Trusts (REITs), private equity firms and major developers. For more information, visit www.chrco.com.
Horseshoe Bay Resort
Horseshoe Bay Resort is Texas’ original lakeside resort, located about six miles southwest of Marble Falls proper on Ranch to Market Road 2147 on Lake LBJ and inside the limits of the City of Horseshoe Bay. The resort is home to a 385 room hotel, three championship Robert Trent Jones Sr. golf courses, an exclusive Jack Nicklaus Signature Golf Course, par 72 Bermuda grass putting course, The Waters condominium towers and a full-service marina. Additional amenities include the private airport, 16 tennis courts, bike rental, hiking trails, spa and fitness centers. Horseshoe Bay Resort oversees Summit Rock, a Jack Nicklaus Signature Golf Course Community. For more information and reservations at Horseshoe Bay Resort, visit www.hsbresort.com or call 877-611-0112.