NewcrestImage
NewcrestImage is a Dallas-area privately held family office investment firm that acquires, renovates, and repositions hotel real estate across U.S. markets, operating a portfolio of 70+ hotels under major franchise brands while also investing in community banking, hospitality technology, and venture capital.
- Company typePrivate
- Founded2013
- HeadquartersGrapevine, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What NewcrestImage does
NewcrestImage is a privately held family office investment firm headquartered in Grapevine, Texas (Dallas-Fort Worth area), founded in 2013. The firm specializes in the acquisition, renovation, and repositioning of hotel real estate across the United States, with a current owned portfolio of more than 70 hotels and approximately 8,000 rooms, and cumulative transactions exceeding $3 billion across ~275 hotels and ~30,000 rooms in 130 communities. Its core business model combines opportunistic hotel acquisition — frequently from REITs and institutional sellers such as W.P. Carey, Service Properties Trust, and Highgate/Cerberus — with value-add capital improvements and franchise conversions across major brand families including Marriott, Hilton, Hyatt, IHG, and Wyndham. The firm operates through direct ownership, joint ventures (Hospitality Capital Partners, Dabu Group, Countrywide Hospitality), and third-party management agreements with operators such as Aimbridge Hospitality, HHM Hospitality, and its 50%-owned Coury Hospitality affiliate.
Revenue is generated through three primary streams: hotel operating income from owned assets (managed by partner operators under franchise agreements with global brands), one-time gains from portfolio acquisitions and dispositions (notably the $822 million sale of 27 hotels to Summit Hotel Properties in 2022), and minority investment returns from alternative assets. Alternative investments include wholly-owned American Bank (a Dallas-area community bank), minority stakes in Texana Bank and the publicly-traded REIT Summit Hotel Properties, and equity positions in hospitality technology and food-tech companies (TiffinLabs, CoreStack) plus an early-stage venture fund (Dallas Venture Capital) focused on AI/ML, IoT, and XR. The firm sources deals through direct B2B relationships and broker-mediated transactions (JLL, CBRE, Newmark, Hunter Hotel Advisors) and has won more than 80 industry awards over the past decade, including Marriott International's Partnership Circle Award. Headcount sits in the 1,001-5,000 range and the leadership team is anchored by six Patel-family Managing Partners plus a CIO and operational VPs covering construction, shared services, and finance.
NewcrestImage firmographics
Firmographics- Name
- NewcrestImage
- Legal name
- NewcrestImage
- Website
- https://newcrestimage.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- NewcrestImage is a Dallas-area privately held family office investment firm that acquires, renovates, and repositions hotel real estate across U.S. markets, operating a portfolio of 70+ hotels under major franchise brands while also investing in community banking, hospitality technology, and venture capital.
- Ownership category
- akta.pro rank
NewcrestImage industry classification
Industry- Product category
- Hospitality Real Estate Investment
- NAICS
- Real Estate Property Managers (53131), Management of Companies and Enterprises (55111)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate (6500)
- akta.pro primary industry
- Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)
- akta.pro secondary industry
- Real Estate Restructuring, Turnaround & Workout Advisory (Distressed Assets) (BPAJANAH)
Keywords
Where NewcrestImage is headquartered
LocationHeadquarters
- HQ city
- Grapevine
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NewcrestImage business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Hotel ownership and asset management: NewcrestImage acquires hotel properties directly or through joint ventures, renovates and rebrands them, and generates recurring revenue through hotel operations managed by third-party operators (Aimbridge, HHM, Coury Hospitality). The company holds minority stakes in some properties and full ownership in others.
- Real estate transactions and portfolio sales: NewcrestImage transacts in hotel portfolios through acquisitions and dispositions, generating large one-time gains on portfolio sales (e.g., $822M sale of 27-hotel portfolio to Summit Hotel Properties in 2022, $137.3M sale of 16-hotel portfolio to HCP joint venture).
- Investment in alternative assets (TiffinLabs, banking): NewcrestImage makes minority investments in non-hospitality ventures including TiffinLabs (Singapore-based food tech, becoming second-largest shareholder) and wholly owns American Bank (Dallas-based, $55M in assets, quadrupled since 2019) and Texana Bank (multi-million dollar investment, 1914-founded, four branches).
Go-to-market motion2 records
Distribution channels3 records
Marketing channels1 record
NewcrestImage product offering
Product offeringCore offering
NewcrestImage is a privately held family office investment firm that acquires, renovates, and repositions hotel real estate assets across the United States, transacting more than $3 billion across nearly 275 hotels with approximately 30,000 guest rooms. The firm sources deals directly from REITs, institutional owners, and joint venture partners, then operates the assets through franchise brands (Marriott, Hilton, Hyatt, IHG, Wyndham) and third-party management companies (Aimbridge, HHM, Coury Hospitality). It also maintains a portfolio of alternative investments in community banking, multi-cloud governance technology, food technology, and early-stage venture capital.
Product overview
NewcrestImage is a privately held family office investment firm based in Dallas, Texas, with a diversified portfolio spanning real estate assets and alternative investments. The company's investment portfolio includes: (1) American Bank - community banking services; (2) CoreStack - multi-cloud governance platform; (3) Coury Hospitality - hotel management and development company; (4) Dallas Venture Capital (DVC) - early-stage venture fund in AI/ML, IoT, XR; (5) Real Estate - hotel investments and development with 270+ assets valued at $2.7B; (6) Summit Hotel Properties - publicly-traded REIT; (7) Texana Bank - community banking; (8) TiffinLabs - food tech/virtual restaurant platform. The company has transacted over $3 billion in real estate, owns 70+ hotels nationwide with 8,000+ rooms, and is known for innovations including dual-brand properties, adaptive re-use of historic buildings, and lifestyle hotel campus developments.
Differentiator
Problem solved
Functional benefit
Products and services
- NewcrestImage Real Estate Portfolio Real estate investment portfolio focused on the lodging industry with over 270 assets valued at over $2.7 billion. Pursues revitalization of distressed hotel properties and ground-up construction of new hotels, including dual-brand properties, adaptive re-use of historic buildings, and lifestyle hotel campus neighborhoods.
- Coury Hospitality (Lifestyle Hotel Management Partnership) Hospitality management company founded in 1999, skilled in hotel, restaurant, venue operations and development. Known for historic renovations, exceptional guest service, and curated build design. Operates 12 lifestyle hotels in six states including 10 Marriott Autograph Collection properties and 27 food and beverage outlets, making it the largest operator of Marriott Autograph Hotels.
- American Bank Dallas-based community bank with nearly $55 million in assets (at 2019 acquisition) that quadrupled in assets following acquisition. Full-service branches in Dallas and Irving, TX, focused on creating a culture of care in communities.
- Texana Bank Community bank based in Texarkana, TX, with roots dating to 1914. Multi-million-dollar investment made in 2018. Now has four full-service branches throughout East Texas plus one branch in Arkansas.
- Dallas Venture Capital (DVC) Early-stage venture fund investing in AI/ML, IoT, XR and emerging technologies launched by enterprise-focused entrepreneurs. Operating from USA and India to create a bridge connecting two large global markets. Provides capital and guides business development through DVC Advantage.
- CoreStack Next-generation multi-cloud governance platform that empowers enterprises to rapidly achieve autonomous and continuous cloud governance and compliance at scale. Used by leading global enterprises across multiple industries.
- TiffinLabs Singapore-based food tech company and virtual restaurant brands platform. Expands food delivery-focused virtual restaurant brands in US hospitality industry using ghost kitchen and virtual menu business model.
- Summit Hotel Properties, Inc. Publicly-traded REIT (NYSE: INN) in which NewcrestImage became one of the largest shareholders in 2022. Focuses on owning premium-branded hotels with efficient operating models in the upscale segment. Portfolio of 100 hotels with 15,051 guestrooms in 24 states.
Quantifiable outcome
- Quarupled assets at American Bank since 2019 acquisition
- +2 more outcomes
Companies that use NewcrestImage
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
NewcrestImage technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
NewcrestImage partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Dabu GroupcoreA joint venture of NewcrestImage and Dabu Group acquired the full-service Marriott Dallas/Fort Worth Westlake (294 rooms, designed by architect Ricardo Legorreta). Newmark Lodging Capital Markets arranged the sale.
- Coury HospitalitycoreNewcrestImage entered a strategic partnership with Coury Hospitality in June 2023, taking a 50% ownership stake. Coury Hospitality is a Dallas-based hospitality management company founded in 1999, skilled in hotel, restaurant, venue operations and development. Known for historic renovations and world-class boutique hotels, Coury manages 12 lifestyle hotels in six states including 10 Marriott Autograph Collection properties, making it the largest operator of Autograph Hotels. The partnership combines NewcrestImage's capital and acquisition capabilities with Coury Hospitality's operational and lifestyle hotel expertise.
- HHM HospitalityminorFollowing NewcrestImage's acquisition of a 45-hotel portfolio (3,300 rooms across 11 states), the company retained HHM Hospitality as one of the management companies for the properties, alongside Aimbridge Hospitality.
- Dabu Hotels and Countrywide HospitalityminorA joint venture of NewcrestImage, Dabu Hotels, and Countrywide Hospitality acquired the 130-room Best Western Plus in Page, Arizona. The property is operated by Terrapin Hospitality. Page, AZ is a major leisure destination visited by more than 4.5 million visitors annually near Grand Canyon, Lake Powell, Monument Valley, and Antelope Canyon.
- Wyndham Hotels & ResortsminorWyndham Hotels & Resorts is the world's largest hotel franchisor. Following NewcrestImage's acquisition of four LaQuinta-branded properties from a Highgate/Cerberus joint venture, Wyndham CEO Geoff Ballotti expressed continued partnership: 'We greatly value our longstanding relationship with NewcrestImage and are proud to continue partnering with Mehul and his team as they continue growing their portfolio with Wyndham.'
- Aimbridge HospitalitycoreNewcrestImage transferred management agreement rights for its 27-hotel portfolio to Aimbridge Hospitality (a leading global hospitality company) and acquired a minority ownership stake in Aimbridge. Mehul Patel joined the newly formed Aimbridge Hospitality CEO Advisory Board. Aimbridge manages the acquired hotels while NewcrestImage focuses on developing and acquiring new hotels.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
NewcrestImage competitors and assessment
Company assessmentDirect peers
- Highgate Hotels: Private hotel investment, management, and real estate firm that acquires, renovates, and operates upscale hotels across the US. Direct peer in hotel acquisition and value-add repositioning, closely overlapping with NewcrestImage's buy-renovate-rebrand strategy.
- Aimbridge Hospitality: Largest third-party hotel management operator in North America; NewcrestImage is a minority shareholder and Aimbridge manages a large portion of its portfolio. Closely aligned as both operator and capital partner in the same hospitality value chain.
- KSL Capital Partners: Private equity firm exclusively focused on travel, leisure, and hospitality, acquiring and operating hotels, resorts, and related businesses. Direct comparable to NewcrestImage's hotel investment vertical with similar value-add and turnaround focus.
- Pebblebrook Hotel Trust: Largest US lodging REIT focused on urban and resort upper-upscale hotels. Directly comparable as a buyer of premium-branded hotel portfolios and a frequent counterparty in NewcrestImage's transaction set.
- Sunstone Hotel Investors: Hotel REIT focused on long-term ownership of upper-upscale and luxury full-service hotels. Comparable buyer of premium-branded hotel portfolios with similar urban and convention-driven strategy.
- Summit Hotel Properties: Hotel REIT that acquired NewcrestImage's 27-hotel portfolio for $822M; NewcrestImage is now a significant shareholder. Direct counterparty in the largest disclosed transaction and a comparable owner of premium-branded select-service hotels.
- Park Hotels & Resorts: Hotel REIT spun out from Hilton, focused on upper-upscale and luxury hotels. Comparable buyer of premium-branded hotel portfolios with similar full-service and convention-driven focus.
- Chatham Lodging Trust: Hotel REIT focused on upscale extended-stay and select-service hotels. Closely comparable to NewcrestImage's heavy weighting toward select-service and extended-stay segments across major brands.
- Hersha Hospitality Trust: Hotel REIT (acquired by Pebblebrook in 2024) focused on luxury, lifestyle, and boutique hotels in urban markets. Comparable in lifestyle and boutique positioning, overlapping with NewcrestImage's NYLO, Sinclair, and Coury-managed assets.
Broad incumbents
- Host Hotels & Resorts: Largest publicly traded US lodging REIT, owning 76 luxury and upper-upscale hotels. A scaled incumbent in the same hotel asset acquisition and operating space that NewcrestImage competes against for trophy properties.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights6 records
Customer concentration
NewcrestImage social profiles
Digital presenceNewcrestImage financial estimates
Financial estimateRevenue estimate
Valuation estimate
NewcrestImage leadership team
Management profileNumber of profiles
Profiles11 records
NewcrestImage subsidiaries and ownership
Company hierarchySubsidiaries6 records
NewcrestImage funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NewcrestImage M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NewcrestImage
What does NewcrestImage do?
NewcrestImage is a privately held family office investment firm that acquires, renovates, and repositions hotel real estate assets across the United States, transacting more than $3 billion across nearly 275 hotels with approximately 30,000 guest rooms. The firm sources deals directly from REITs, institutional owners, and joint venture partners, then operates the assets through franchise brands (Marriott, Hilton, Hyatt, IHG, Wyndham) and third-party management companies (Aimbridge, HHM, Coury Hospitality). It also maintains a portfolio of alternative investments in community banking, multi-cloud governance technology, food technology, and early-stage venture capital.
Is NewcrestImage a public or private company?
NewcrestImage is a private company. It is classified as family owned and is currently operating.
When was NewcrestImage founded?
NewcrestImage was founded in 2013. It employs 1,001 to 5,000 people.
Where is NewcrestImage based?
NewcrestImage is headquartered in Grapevine, United States, in the North America region.
How does NewcrestImage make money?
Three revenue lines are on record. Hotel ownership and asset management is the primary driver. The others are real estate transactions and portfolio sales and investment in alternative assets (TiffinLabs, banking).
Who are NewcrestImage's main competitors?
Direct peers on record are Highgate Hotels, Aimbridge Hospitality, KSL Capital Partners, Pebblebrook Hotel Trust, Sunstone Hotel Investors, Summit Hotel Properties, Park Hotels & Resorts, Chatham Lodging Trust and Hersha Hospitality Trust. Host Hotels & Resorts is listed as a broad incumbent.
Does NewcrestImage have an API?
No public API is recorded for NewcrestImage.
What industry is NewcrestImage in?
NewcrestImage's product category is Hospitality Real Estate Investment. Its primary akta.pro industry code is BPAJAMAE, Hospitality (Hotels & Resorts) Asset Management, with a secondary code of BPAJANAH, Real Estate Restructuring, Turnaround & Workout Advisory (Distressed Assets). Its NAICS code is 53131 and its SIC code is 6532.