Newcrest Mgmt., Image Hospitality Merge
Tuesday February 5th, 2013 - 10:22AM
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DALLAS—Newcrest Management and Image Hospitality have merged to form NewcrestImage, a company that will umbrella three firms addressing hotel development and operations.
The new entity includes Newcrest Development, a real estate development company; Brightman Construction, a builder focusing on hotel construction and renovation; and Image Hospitality, a hotel management company.
Executives of the combined companies expect the merger will increase efficiency and capitalize on each other’s strengths.
The company recently acquired two hotels in the Dallas-Fort Worth metropolitan area: a Holiday Inn Express in Grapevine and a Holiday Inn Express in Fort Worth.
Tags: Hospitality Ownership Management Companies
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.