NewcrestImage Acquires Two Hyatt Place Properties in Texas

ATLANTA—NewcrestImage has acquired two Hyatt Place hotels in Texas—the 127-room property on Dallas Parkway in Plano and the 126-room property on Hyatt Park Drive in San Antonio. 

Each of the two acquired properties has six floors, a fitness center, a business center, a seasonal outdoor pool and flexible meeting space—790 sq. ft. at the Plano hotel and 1,127 sq. ft. at the San Antonio hotel.

“These hotels are consistent with our company’s strategy of adding premium branded hotels in top-tier markets at attractive prices,” stated Mehul Patel, chairman and CEO of NewcrestImage. “As importantly, these hotels are our first Hyatt properties and they represent the start of an important new relationship for us with this outstanding hospitality organization. We certainly look forward to combining our value-added management style with the established comfort and reputation of the Hyatt brands.”  

The Hyatt Place in Plano is located along the Dallas Platinum Corridor office district. There are 40 million sq. ft. of office space within five miles of the hotel, including the corporate headquarters of J.C. Penney, the Dr. Pepper Snapple Group, Frito-Lay, Pizza Hut and Mary Kay.

The Hyatt Place in San Antonio is located along Interstate 10, directly adjacent to the 288-acre headquarters campus complex of United Services Automobile Association (USAA). Also within five miles are the headquarters of Valero Energy; the University of Texas at San Antonio campus with 37,000 students; and the 900-acre South Texas Medical Center.