Resort Hotel in Guam

Creed acquired the four star hotel located in Guam in 2005 from Japan Air Lines and two other Japanese investors in their moves to streamline their balance sheets. Creed successfully increased the occupancy rate by updating interiors and facilities which were getting deteriorated otherwise. Combined with a reduction in operating expenses, Creed successfully improved net operating income (NOI) and disposed the assets to a Japanese hotel operator in 2009.