NewcrestImage to Acquire 25 Properties From La Quinta
Adding 2,978 rooms to Portfolio
June 6, 2013 - Dallas-based NewcrestImage has agreed to acquire 25 company-owned La Quinta properties in nine states from La Quinta Corporation and assorted subsidiaries.
“This portfolio represents a unique investment opportunity,” according to Mehul Patel, managing partner of NewcrestImage. “We are acquiring solid assets in very desirable, high-traffic locations that will become even more valuable after we strategically renovate, rebrand, and reposition them.”
The hotels, which have a total of 2,978 rooms, are located in the states of Arkansas, Florida, Louisiana, Missouri, New Mexico, Oklahoma, Tennessee, Texas, and Virginia.
NewcrestImage currently owns and operates 12 hotel properties, with six properties under construction, and another three real estate properties in various stages of development, including a 52-acre master-planned community in the Dallas area that features multi-family housing alongside destinations for shopping, dining, and entertainment.
About NewcrestImage
NewcrestImage is a fully integrated hospitality company that specializes in hotel development, construction and management. Based in Texas, NewcrestImage develops, builds, and manages hotel properties across the Southwest. For more information, visit www.newcrestimage.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
