NewcrestImage
NewcrestImage is a privately held family office investment firm based in Dallas, Texas, with a diversified portfolio of real estate assets and alternative investments, including significant holdings in the hospitality sector.
Company Overview
NewcrestImage is a privately held family office investment firm based in Dallas, Texas. Known for a diverse range of real estate assets and alternative investments, NewcrestImage has completed 277 hotel transactions, amassing $2.7 billion in real estate dealings across 148 cities. The firm's potent investment portfolio spans real estate and various alternative investments.
Assets and Investments
NewcrestImage boasts a wide array of investments, including a minority stake in Aimbridge Hospitality, the world's largest third-party hotel operator. Noteworthy acquisitions include Dallas-based American Bank in 2019 and a multi-million-dollar investment in Texana Bank in 2018. Their real estate transactions span over 270 assets valued at more than $2.7 billion.
Strategic Acquisitions
In 2023, NewcrestImage acquired three Courtyard by Marriott hotels at major airports and a full-service Marriott in Westlake, Texas. Additionally, in March 2023, the firm, in collaboration with Hospitality Capital Partners, acquired a 16-hotel portfolio worth $137 million. Earlier acquisitions include the Best Western Plus in Page, Arizona and the TownePlace Suites Dallas Las Colinas. The firm’s strategy includes acquiring both distressed and newly constructed properties.
Partnerships and Alliances
NewcrestImage has formed several strategic alliances, including a partnership with Coury Hospitality to focus on lifestyle hotel growth in June 2023. They also executed a joint venture to acquire the Best Western Plus in September 2022. Moreover, NewcrestImage became a minority shareholder in Aimbridge Hospitality in January 2022 and selected Aimbridge to manage a 27-hotel portfolio.
Diverse Portfolio Companies
NewcrestImage's portfolio includes CoreStack, a multi-cloud governance platform, and TiffinLabs, a global digital restaurant group. Coury Hospitality, known for historic renovations, also falls under their investment domain. Dallas Venture Capital, focusing on AI/ML, IoT, and XR technologies, is another key holding. An affiliate of NewcrestImage is a significant shareholder in Summit Hotel Properties, Inc., acquired in 2022.