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 •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.