DALLAS, Texas — NewcrestImage, a resort growth firm based mostly in Dallas, declares it can switch its current resort administration settlement rights to Aimbridge Hospitality, a world hospitality firm, and the 2 corporations have recognized new development alternatives collectively.
Specifically, the businesses will construct on their respective strengths, with NewcrestImage creating and buying new lodges and Aimbridge additional constructing on its providers. NewcrestImage has acquired minority possession in Aimbridge Hospitality.
“We are excited to grow with NewcrestImage as they develop new properties with Aimbridge as their strategic operating partner,” mentioned Mike Deitemeyer, Aimbridge Hospitality president and CEO. “I look forward to working closely on growth opportunities with Mehul Patel and his team at NewcrestImage who have built one of our industry’s most respected hotel portfolios.”
“Starting with the sale of 27 distinctive properties, with Aimbridge gaining management responsibilities for those hotels, and with NewcrestImage gaining a minority stake in Aimbridge, each of these transactions is important and impressive on its own,” mentioned Mehul Patel, chairman and CEO of NewcrestImage. “This is a collaboration that will enable both companies to gain unmatched momentum and growth.”
Mehul Patel will be a part of the newly fashioned Aimbridge Hospitality CEO Advisory Board.