September 22, 2022
A joint venture of NewcrestImage and Hospitality Capital Partners (HCP) has reached definitive agreement to acquire 16 Marriott-branded hotels with a total of 2,155 rooms in nine states. The portfolio includes 13 Courtyard and three Residence Inn properties located in Georgia, Massachusetts, North Carolina, New York, Oklahoma. Pennsylvania, South Carolina, Texas, and Virginia. Closing on the transaction is expected during the fourth quarter. “This acquisition affirms our high expectations and high confidence in hotel investments, both near term and long term,” explained Mehul Patel, Managing Partner and CEO of NewcrestImage. “...
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