Crescent Real Estate Appoints Troy Furbay as Managing Director for Hospitality Sector

Crescent Real Estate Welcomes New Leadership in Hospitality

Crescent Real Estate LLC has taken a significant step towards strengthening its hospitality investment division by appointing Troy Furbay as the new Managing Director of Hospitality. This strategic move is poised to enhance the firm’s capabilities in identifying and executing promising investment opportunities within the hospitality sector.

Troy Furbay is not a newcomer to the industry; he brings a wealth of experience in lodging and real estate investment. Previously, he excelled as the Chief Investment Officer at DiamondRock Hospitality, a publicly traded lodging real estate investment trust (REIT). During his tenure there, he led the company's strategic shift towards resort-style, lifestyle, and independent hotel assets, consistently exceeding sector benchmarks in performance. Before his successful stint at DiamondRock, he held senior leadership roles at renowned establishments such as Loews Hotels, Kimpton Hotels, and MeriStar Hospitality. Additionally, he began his career in real estate consulting with KPMG, giving him a strong foundation for his future endeavors.

In his new role at Crescent, Furbay will be tasked with not only spearheading the hospitality investment platform but also optimizing the existing portfolio’s performance and collaborating with Crescent’s diverse teams to execute the firm’s strategic vision and investment goals. This role aligns perfectly with Furbay’s background as he has demonstrated an adept ability to push operations to new levels of growth and performance.

Expressing his enthusiasm about joining Crescent, Furbay highlighted the firm’s entrepreneurial culture and commitment to operational excellence. He remarked, “I'm excited to join Crescent Real Estate and lead the continued growth of a high-quality, thoughtfully positioned hospitality portfolio. Crescent is widely respected for its excellence in real estate investment and long-term stewardship, and I look forward to building on that legacy.”

Crescent’s CEO, Conrad Suszynski, conveyed eagerness about Furbay’s appointment, stating,