First PurchaseMarlin, Texas
The enterprise that would become NewcrestImage started in an independent hotel in Marlin, Texas, a small town south of Dallas near Waco. After coming to the U.S., the Lallubhai Kalidas Patel family purchased the Houston’s Motel. Like many Indian Americans, they found the hotel industry a good fit for the generous hospitality that was part of their own culture. A year later, they bought the Sunset Inn in Longview, Texas, which would become the family’s base for over thirty years.
First Franchised HotelLongview, Texas
After fifteen years of hard work as a family business running multiple properties, the Patels reached a pivotal moment when they developed and opened their first franchised property, a Hampton Inn in Longview.
The Portfolio GrowsDallas, Texas
Brothers Mehul and Sanjay Patel—who had been wading in the entrepreneurial waters since high school—purchased their first hotel, a Travelodge in Dallas, followed quickly by the Love Field Inn and a Budget Inn. Their friend Chirag Patel, who had previously partnered with the brothers in business, now joined them as a joint venture partner in hotel development and operation.
Entry into Holiday InnDallas, Texas
After setbacks like fire and reconstruction, and ambitious growth, the overall success of their hotel operations allowed Mehul and Sanjay to open their first Holiday Inn and Denny’s Restaurant. After years effective collaboration with Chirag and his brother Daxesh, the four created a new joint venture partnership, Newcrest Hotels.
Joining the Marriott BrandWaco, Texas
With a portfolio of seven hotels, the Lallubhai Patel family formed their own hotel management company in 2003, Image Hospitality. Based on their successful operations model, Marriott approved the company to develop and operate their brand of hotels, beginning with the Fairfield Inn and Suites in Waco, Texas.
Ambitious Expansion of 19 Hotels
Newcrest Hotels and Image Hospitality formed a unique joint venture for development and management. In 2006, the companies signed on, collectively, to develop 10 Holiday Inn Express hotels and 9 Hampton hotels throughout the Southwest. Newcrest Hotels went on to become IHG’s Developer of the Year in 2007.
Weathering the Economic Downturn
In a record nine months, Newcrest Hotels developed and opened their largest hotel since the company’s inception, the 147-room Holiday Inn Arlington. With Image Hospitality, they opened 14 hotels this year, and had 16 properties under construction—30 hotels set to launch with economic trouble on the horizon.
First Courtyard By MarriottLufkin, Texas
Image Hospitality opened the Courtyard by Marriott in Lufkin, Texas—the first opened by Image Hospitality and a new prototype for Courtyard. It was a novelty for locals as well; during the grand opening, they filled the parking lot, coming to celebrate and take a look at the nicest hotel in town.
Riding the Recession
Though the economy forced the two companies to put some projects on hold, between them, Newcrest Hotels and Image Hospitality accomplished a record 16 hotel openings in the span of a year.
Honors for the Conversion of the Historic Fisk BuildingAmarillo, Texas
Newcrest Hotels undertook their first historic project, converting the historic Fisk Medical Arts Building in Amarillo, Texas, to a Courtyard by Marriott.
NewcrestImage later received the “Best Adaptive Re-Use Award” from the State of Texas, and after a detailed review, the Texas Historical Commission approved the 1928 building’s inclusion on the National Register of Historic Places, an honor that represents NewcrestImage’s dedication to preserving as well as re-purposing historic structures.
Making News in the Industry – Portfolio SaleSouthwest Region
In one of the largest transactions of the year within the lodging industry, Newcrest Hotels and Image Hospitality jointly sold a 20-property portfolio to Starwood Capital Group.
The Historic Cotton Exchange AcquisitionNew Orleans, Louisiana
The partners, now merged as NewcrestImage, purchased the Historic Cotton Exchange, an independent hotel near Bourbon Street in New Orleans, Louisiana, for 17.8 million dollars. It’s another milestone—the highest price they’d ever paid for a building or a hotel. They’d done thorough market research, but bought the historic building with an auction bid, sight unseen.
Entry into HyattPlano and San Antonio, Texas
The launch of the NewcrestImage Real Estate Fund represented an evolution in the company’s ability to raise equity from investors, it kicked off with the acquisition of two Hyatt Place Hotels— one in Plano and one in San Antonio.
First Homewood SuitesMidland, Texas
In another long-planned move, the partners opened a Homewood Suites in Midland, the first upscale extended stay hotel in the company’s portfolio, taking advantage of the booming oil and gas market there.
First Residence InnTexarkana, Texas
The company developed their first Residence Inn, which was later honored by Marriott International with the 2015 Strongest Collaborator Award.
The First AC Hotel by Marriott in the U.S.New Orleans, Louisiana
NewcrestImage opened the first AC Hotel by Marriott in the U.S. with much fanfare. At the grand opening were Arne Sorenson, CEO of Marriott International, as well as the founder of AC, Antonio Catalan. NewcrestImage demonstrated their niche in the growing lifestyle hotel trend—properties with the local personality of a boutique hotel but the convenience of a chain brand.
Two Historic Buildings, One City BlockDallas, Texas
In 2014 and 2015, NewcrestImage acquired two historic buildings in Dallas, representing an entire block of Downtown, with plans to develop an AC Hotel, a Residence Inn, and a Hampton Inn & Suites, supported by a new 360-space parking garage.
The 176-room hotel that opened in 2016 was the largest Hampton Inn & Suites in the Dallas area. The office building conversion demonstrates NewcrestImage’s vision—to lead the industry with innovative properties that stand out in their individual markets.