June 13, 2016 – NewcrestImage has expanded its portfolio with the purchase of the 125-room, 6-floor Hyatt Place hotel in the Dallas suburb of Grapevine, Texas, located just three miles from the DFW International Airport. This becomes the company’s fourth Hyatt Place, joining hotels owned and operated in San Antonio, Lubbock, and the Dallas suburb of Plano.

The new property features two meeting rooms of 1,100 sq. ft. and 400 sq. ft.; a spacious breakfast area; an outdoor pool; a cocktail and coffee bar; plus a fitness center and a business center, both of which operate 24 hours a day. Also open around-the-clock is the Gallery Market, which offers packaged “grab and go” beverages, salads, and snacks.

Immediately adjacent is the Legoland Discovery Center and the Grapevine Mills Mall, which features more than 200 retail shops, numerous restaurants, and a 30-screen theatre complex.

“This hotel combines several qualities that are essential to our company, including stylish design, convenient location, and comfortable amenities,” said Mehul Patel, Chairman and CEO of NewcrestImage. “We know that both business and leisure travelers are attracted to the casually chic environment of Hyatt Place.”

Dallas-based NewcrestImage now owns and operates 22 properties, with another 11 hotels under construction or in development. The company has three divisions — real estate development, construction, and hotel management.