Hotel Companies Merge to Form Powerful Alliance
DALLAS, TX - FEBRUARY 5, 2013: Two longtime stars in the Southwestern hotel industry, Newcrest Management and Image Hospitality, have merged to form NewcrestImage, a powerhouse alliance that is now the parent of three separate firms addressing all stages of hotel development and operations. The alliance includes Newcrest Development, a real estate development company; Brightman Construction, a builder focusing on hotel construction and renovation; and Image Hospitality, a hotel management company.
The merger allows the two companies to increase efficiency, capitalize on each other's strengths and round out the offerings they can provide to owners and clients, Before the merger, Newcrest Management's forte was in development and construction, while Image Hospitality excelled at operations. The alliance creates a vertically integrated company with all components in house.
"Joining forces allows each company to fill a void and together, to offer a full suite of truly expert hotel services", says Mehul "Mike" Patel, Managing Partner at NewcrestImage.
While most hotel companies have perfected either construction, development or management, NewcrestImage offers the full package.
"Ultimately, the merger created a unique synergy that allows our hotel developments and construction projects to be truly state-of-the art and efficient", adds Yogi Patel, Managing Partner at NewcrestImage.
"Each of the former companies brought a wealth of experience and expertise in their particular strengths, giving the new firm a broad range of competencies across all areas of hotel development and operations."
Newcrest Management and Image Hospitality began partnering on individual projects in 2007, in which Newcrest would construct hotels and Image would manage those properties. Through ongoing work together, the two companies built a strong, healthy relationship and executives realized that their mission statements and core values were almost identical, making them perfect candidates for a merger.
NewcrestImage launched earlier this year with a fresh slate and plans to build a dynamic, highly capable hotel development, construction and management company, combining the best practices of both of its successful forerunners. Following the merger, NewcrestImage is rapidly expanding its market share taking advantage of the added capabilities the new partnership brings. The company recently acquired two hotels in the Dallas-Fort Worth metropolitan area, a Holiday Inn Express in Grapevine and a Holiday Inn Express Fort Worth.