NewcrestImage has expanded its portfolio by acquiring the 148-room SpringHill Suites by Marriott on Lamar Street in the heart of the West End Historic District of downtown Dallas.
The company will now operate four hotels and almost 600 rooms in downtown Dallas. The three other properties are a dual-brand 128-room AC Hotel and 121-room Residence Inn, and a 176-room Hampton Inn & Suites.
“The SpringHill Suites has a prime location in a vibrant neighborhood that attracts both business and leisure travelers,” explained Mehul Patel, Chairman and CEO of NewcrestImage. “It complements our existing properties just a few blocks away and continues our expansion plans to double the value of our assets to $2 billion, as announced in July.”
Patel added that the SpringHill Suites will undergo a complete renovation, but will remain open during a carefully-sequenced refurbishment process that is expected to begin in three months and to take about four months.
Guest rooms are approximately 25% larger than usual because the hotel is an adaptive reuse of a 10-floor historic building. Other features include 615 sq. ft. of meeting space; an outdoor pool on the second-floor terrace; a state-of-the-art fitness room; a complimentary hot breakfast buffet; and valet parking.
NewcrestImage currently operates in 10 states with 32 distinctive owned and managed hotels plus another 18 properties under construction or in development. The company, based in the Dallas suburb of Lewisville, served 1.9 million guests in 2018.