FAIRFAX, VA - Friday, January 25, 2008-Crescent Hotels & Resorts, based here, is planning to deploy $600 million in capital for hotel acquisitions this year with the equity raise of a second fund. The company has already added four properties to its portfolio so far this year.

The second fund will surpass the $400 million in hotel real estate transacted by Crescent in 2007. The company will continue to target upper upscale hotel investments on either a wholly owned or joint venture capacity as well as a third-party management company for financial institutions.

On the development front, Crescent is in a joint venture to build eight to 10 hotels over the next two years and also currently has two Residence Inn properties under construction that are slated to open later this year.