NewcrestImage Finalizes Merger
Friday May 31st, 2013 - 11:42AM W
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FRISCO, TX—The merger of Newcrest Management and Image Hospitality has been completed, and the two companies are now NewcrestImage, a vertically integrated company offering services in hotel development, construction and management.
Also included in the merger are: Newcrest Development, Brightman Construction and Image Hospitality.
Company principals’ new roles are: Mehul Patel, chairman/CEO; Chirag Patel, CFO; Mital Patel, chief administrative officer; Yogi Patel, COO/hotel management; Danny Patel, COO/construction finance; and Sanjay Patel, COO/construction project manager.
Currently, NewcrestImage has six hotels under construction and three in the development stages with a total of 1,150 rooms, which would double the company’s portfolio.
Tags: • Hospitality •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.