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NewcrestImage to Acquire 25 Properties From La Quinta
Adding 2,978 rooms to Portfolio


 
June 5, 2013 - Dallas-based NewcrestImage has agreed to acquire 25 company-owned La Quinta  properties in nine states from La Quinta Corporation and assorted subsidiaries.
 
“This portfolio represents a unique investment opportunity,” according to Mehul Patel, managing partner of NewcrestImage.  “We are acquiring solid assets in very desirable, high-traffic locations that will become even more valuable after we strategically renovate, rebrand, and reposition them.” 
 
The hotels, which have a total of 2,978 rooms, are located in the states of Arkansas, Florida, Louisiana, Missouri, New Mexico, Oklahoma, Tennessee, Texas, and Virginia.  
 
NewcrestImage currently owns and operates 12 hotel properties, with six properties under construction, and another three real estate properties in various stages of development, including a 52-acre master-planned community in the Dallas area that features multi-family housing alongside destinations for shopping, dining, and entertainment.

About NewcrestImage
NewcrestImage is a fully integrated hospitality company that specializes in hotel development, construction and management. Based in Texas, NewcrestImage develops, builds, and manages hotel properties across the Southwest. For more information, visit www.newcrestimage.com.
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Contact: 

Peter G. Mathon
P. R. Counsel for
NewcrestImage
 770-396-4555
contact@newcrestimage.com
www.newcrestimage.com


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Also See: NewcrestImage Finalizes Merger and Brings All Three Companies Under the Same Banner / May 2013

Hotel Companies Merge to Form Powerful Alliance; Merged Company consists of development, construction and management groups / February 2013



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