Skip to content
Search

Latest Stories

NewcrestImage acquires Southlake, Texas, Cambria

Aimbridge Hospitality will manage the 175-room upscale hotel

NewcrestImage acquires Southlake, Texas, Cambria

DALLAS-BASED INVESTMENT firm NewcrestImage has acquired Cambria Hotel Southlake DFW in Southlake, Texas, the company said in a statement. The company took over operations at the 175-room upscale hotel and the management will be provided by Aimbridge Hospitality.

In January, NewcrestImage and Aimbridge contracted for Aimbridge for management services and NewcrestImage  became a minority shareholder in the management company.


“The Cambria Hotel Southlake DFW is a vibrant, contemporary hotel strategically located  to attract both business and leisure travelers. We look forward to taking the hotel to new levels of performance, both for guests and for our investors," said Mehul Patel, managing partner and CEO of NewcrestImage.

The hotel has an outdoor pool and game area, a 1,000-square-foot fitness center, a business center and a convenience market, both of which are open 24 hours, a casual lounge; and a restaurant.  Built in 2016, the property is six miles from DFW International Airport, five miles from the Gaylord Texan Convention Center, and one mile from Southlake Town Square which homes 138 stores, 27 restaurants, and three park areas, the statement added.

The company owns two historic hotels – the 325-room, 29-floor Magnolia Hotel in downtown Dallas and the 164-room, 17-floor Sinclair Hotel in downtown Fort Worth.

In recent years, NewcrestImage has developed several dual-brand properties, adaptive reuse of historic buildings and “lifestyle hotel campuses” to create mixed-use neighborhoods. Recently, NewcrestImage became the second largest shareholder in TiffinLabs, a Singapore-based food tech company.

In January, NewcrestImage sold 27 hotels to Summit Hotel Properties. The transaction cost $776.5 million for the hotels, or $209,000 per key. It also included $24.8 million for the two parking structures and $20.7 million for the various financial incentives through Summit’s joint venture with Singapore-based sovereign wealth fund GIC, made in 2019 to acquire hotels in the U.S.

More for you

Asian Hospitality unveils inaugural ‘Women of Color Power List’

Asian Hospitality unveils inaugural ‘Women of Color Power List’

Women of Color Power List 2025 Debuts at AAHOACON 2025

ASIAN MEDIA GROUP USA, publisher of Asian Hospitality magazine, launched the first-ever “Women of Color Power List 2025” at the 2025 AAHOA Convention & Trade Show in New Orleans, honoring 51 women reshaping the U.S. hospitality industry. The publication is the first to spotlight the achievements of women of color, recognizing their resilience, innovation, and leadership.

Asian Media Group Managing Editor Kalpesh Solanki, Executive Editor Shailesh Solanki, and Chief Operating Officer Aditya Solanki announced the list during the conference.

Keep ReadingShow less
AAHOALending.com લોન્ચ 2025

AAHOA, બ્રિજ AAHOALending.com લોન્ચ કરે છે

AAHOA અને બ્રિજે AAHOALending.com ને AAHOACON 2025 માં રજૂ કર્યું

AAHOA અને બ્રિજે AAHOALending.com લોન્ચ કર્યું, જે હોસ્પિટાલિટી પર કેન્દ્રિત ડિજિટલ ધિરાણ પ્લેટફોર્મ છે. તે AAHOA સભ્યોને 150 થી વધુ ધિરાણકર્તાઓની ઍક્સેસ પ્રદાન કરે છે, જેમાં વધુને વધુ લોકોને નિયમિતપણે ઉમેરવાની યોજના છે, આ પ્લેટફોર્મ વપરાશકર્તાઓને ધિરાણ વિકલ્પોની તુલના કરવાની, શ્રેષ્ઠ દરો અને સુરક્ષિત ભંડોળ શોધવાની મંજૂરી આપે છે.

કોફાઉન્ડર અને CEO રોહિત માથુરની આગેવાની હેઠળના બ્રિજને ક્લબ બ્લુ ઇન્ડસ્ટ્રી પાર્ટનર તરીકે નિયુક્ત કરવામાં આવ્યા છે, જે AAHOAના પ્રોગ્રામમાં સર્વોચ્ચ સ્તર છે, તેના 300 ભાગીદારોમાંથી માત્ર 12 જ લાયકાત ધરાવે છે, એમ બંનેએ સંયુક્ત નિવેદનમાં જણાવ્યું હતું.

Keep ReadingShow less
2025માં મંદીની સંભાવના 50 ટકા : HAMA સર્વે

2025માં મંદીની સંભાવના 50 ટકા : HAMA સર્વે

HAMA 2025 સર્વે: 49% મેનેજર્સ મંદીની આશંકા ધરાવે છે

હોસ્પિટાલિટી એસેટ મેનેજર્સ એસોસિએશનના સ્પ્રિંગ 2025 ઇન્ડસ્ટ્રી આઉટલુક સર્વેક્ષણમાં અંદાજે 49 ટકા ઉત્તરદાતાઓ 2025 માં અમેરિકામાં મંદીની અપેક્ષા રાખે છે, જે 2024ના પાનખર સર્વેક્ષણમાં 19 ટકાથી વધુ છે. ટોચની ત્રણ ચિંતાઓ માંગ, ટેરિફ અને DOGE કટ અને વેતનમાં વધારો વચ્ચેનો જોડાણ છે.

HAMA સર્વેક્ષણમાં જાણવા મળ્યું છે કે લગભગ 55 ટકા ઉત્તરદાતાઓએ તેમની વર્તમાન વ્યૂહરચનાના ભાગ રૂપે બ્રાન્ડ અથવા મેનેજમેન્ટ ફેરફારો કર્યા છે અથવા કરવાની યોજના બનાવી છે.

Keep ReadingShow less
AAHOA Bridge AAHOALending 2025

AAHOA, Bridge launch AAHOALending.com

AAHOA and Bridge Unveil AAHOALending.com at AAHOACON 2025

AAHOA AND BRIDGE launched AAHOALending.com, a digital lending platform focused on hospitality. It offers AAHOA members access to more than 150 lenders, with plans to add more regularly, while allowing users to compare financing options, find the best rates and secure funding.

Bridge, led by Cofounder and CEO Rohit Mathur, has been named a Club Blue Industry Partner, the highest level in AAHOA’s program, with only 12 of its 300 partners qualifying, the duo said in a joint statement.

Keep ReadingShow less
HWIC WHLA partnership 2025

HWIC joins WHLA to support industry women

HWIC Becomes WHLA’s 34th Member in 2025

THE HOSPITALITY WOMEN’S Innovation Council recently joined as the 34th member of the Women in Hospitality Leadership Alliance to support women and underserved communities across the industry. The council will encourage women to take part in the messaging, programs and initiatives shared by all WHLA groups.

WHLA was founded in 2021 as a consortium of organizations working to advance women in hospitality.

Keep ReadingShow less