Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
NewcrestImage acquired the 176-key, five-story NYLO Dallas Plano in Dallas.
The boutique property is in the 2,600-acre Legacy District business park.
It will be renovated and rebranded under Hilton’s Tapestry Collection.
NEWCRESTIMAGE RECENTLY ACQUIRED the 176-key, five-story NYLO Dallas Plano in Dallas. The company plans to renovate and rebrand it within the Tapestry Collection.
The boutique property in the 2,600-acre Legacy District business park includes indoor and outdoor event venues, including a 4,000-square feet patio around a heated pool.
This follows its 2024 purchase of NYLO Providence Warwick in Rhode Island, rebranded as The Loom Hotel, NewcrestImage, led by CEO and Managing Partner Mehul Patel, said in a statement.
"This hotel presents a significant new profit opportunity for us and complements our existing holdings," said Patel. "We previously owned five hotels in the Frisco/Plano market, so we are familiar with the area’s metrics for both short- and long-term returns."
In December, NewcrestImage opened the Homewood Suites Parsippany in New Jersey, which it acquired as a 150-unit, five-story building in June 2022 and renovated. Since 2013, the company has completed more than $3 billion in hotel transactions across nearly 300 hotels and 32,000 rooms.
NewcrestImage opened the 175-room The Elmore Hotel in Southlake, Texas.
Formerly The Southlake Hotel, it will be managed by Coury Hospitality.
The hotel has 5,000 square feet of meeting space, a fitness center and an outdoor pool.
The Elmore Hotel is now open in Southlake, Texas. The 175-room, four-story property underwent a year-long, multi-million dollar renovation and is the latest addition to Marriott’s Tribute Portfolio.
It is owned by NewcrestImage, led by Managing Partner Mehul Patel, and was formerly The Southlake Hotel. It will be managed by Coury Hospitality, led by CEO Paul Coury, the companies said in a statement.
The hotel has about 5,000 square feet of meeting and event space, a fitness center and an outdoor pool, the statement said. It is near DFW International Airport, Gaylord Texan Convention Center and Southlake Town Square.
“Our renovation has created a thoroughly modern and memorable hotel experience that distinctively stands out for guests and seamlessly blends into the local neighborhood,” said Patel. “Originally built in 2016, the property now showcases uncompromising contemporary style, luxury amenities and next-gen technology—all supported with thoughtful Southern-style hospitality and elevated personal service.”
Coury said The Elmore is the type of hotel his company is bringing to cities across Texas.
“It represents a true living room for the Southlake community where successful business deals are conducted, where travel memories are made and where significant family and community events are held,” he said. “The property will quickly become a haven for guests and a gathering spot for locals.”
Dallas-based NewcrestImage, founded in 2013, has handled transactions exceeding $3 billion for nearly 300 hotels and 32,000 rooms in 130 communities. It owns more than 45 hotels and in August acquired the 176-key, five-story NYLO Dallas Plano, which it plans to renovate and rebrand within the Tapestry Collection.
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Hideaway Inns opened the 56-room Hideaway Inn Mt. Sunapee in New Hampshire.
The hotel is managed by Revival Hotels.
Both companies are led by founder and CEO Saxton Sharad.
Hideaway Inn Mt. Sunapee is now open in Mt. Sunapee, New Hampshire. The 55-room hotel was developed by Hideaway Inns and is managed by Revival Hotels, both led by founder and CEO Saxton Sharad.
The first Hideaway Inn hotel is near Lake Sunapee State Beach, Sunapee Harbor, Colby-Sawyer College and Dartmouth College, Hideaway Inns said in a statement. It provides access to year-round activities on Mt. Sunapee, including skiing, snowboarding, mountain biking and festivals.
“We created Hideaway Inns to fill a gap in the market—providing convenient access to destinations travelers love, but in places big brands often overlook,” said Sharad. “With a focus on thoughtful design, social spaces, and frictionless technology, we are building something different. The Mt. Sunapee property sets the tone for the brand and we could not be more excited to kick off our journey here. With three properties slated to open by the end of the year and 25 over the next five years, this is only the beginning.”
Two Hideaway Inn properties are under development in Mount Snow, Vermont, and Sugar Hill, New Hampshire, with openings expected by year’s end, the company said. The brand is targeting regional markets in the Northeast and areas underserved by traditional hotels.
The Mt. Sunapee hotel uses technology support from Revival Hotels’ for direct-to-door check-in, the company said. The HI Innsider Guide app offers recommendations, local information and property details. Shared spaces include the Living Room with shuffleboard, a vinyl library, board games and a fireplace.
Arora Group and Deva Capital acquired Novotel London West in Hammersmith.
The deal expands Arora’s London portfolio, including the InterContinental London – The O2.
In July, the group also acquired Bloc Hotels, a short-stay operator.
UK-BASED ARORA GROUP and Deva Capital recently acquired the 630-room Novotel London West in Hammersmith. It is Arora’s second London deal, taking its portfolio to more than 20 hotels and 8,000 rooms.
The hotel has more than 630 rooms and conference facilities for up to 3,000 delegates across 33 meeting spaces, Arora said in a statement.
Arora Group, founded and chaired by Surinder Arora, is a hotel and property developer. Deva Capital, the investment arm of Banco Santander’s Alternative Investments division, focuses on real estate debt, equity and corporate solutions.
“In partnership with Deva Capital, we are delighted to welcome Novotel London West into the Arora portfolio,” said Arora. “This acquisition reflects our commitment to expanding in key UK locations, particularly central London. The hotel’s meetings and events capacity aligns with our strategy and we look forward to building on its success.”
The deal adds to Arora’s London portfolio, which includes the InterContinental London – The O2. In July, the group also acquired Bloc Hotels, focused on short-stay properties.
Arora Hotels, a division of the group, presently operates more than 7,000 rooms across airport and city centre locations, with projects under way. Its portfolio includes Sofitel, Novotel, Renaissance, InterContinental, Holiday Inn, Crowne Plaza, Hilton and Fairmont brands, as well as independent hotels such as Arora Gatwick Crawley and Luton Hoo Hotel, Golf & Spa, which is being redeveloped as the group’s second Fairmont property.
Hersha Hotels & Resorts sold The Boxer Boston to Eurostars Hotels.
The company acquired the property in 2012 for $12.6 million.
The property now sold for $23.6 million.
HERSHA HOTELS & RESORTS sold The Boxer Boston, an 80-room hotel in Boston’s West End, to Eurostars Hotels, part of Spain’s Grupo Hotusa. The company, which reportedly acquired the property in 2012 for $12.6 million, received $23.6 million for it.
The seven-story hotel, built in 1904, is near TD Garden, the Charles River Esplanade, One Congress, North Station and Massachusetts General Hospital, said JLL Hotels & Hospitality, which brokered the sale. It also has a fitness center.
Hersha Hotels & Resorts is part of the Hersha Group, founded in 1984 by Hasu Shah. Jay Shah serves as senior advisor and his brother Neil Shah is president and CEO.
JLL Managing Director Alan Suzuki, Senior Director Matthew Enright and Associate Emily Zhang represented the seller.
"The Boxer’s prime location at the crossroads of Boston's West End, North End and Downtown districts, combined with its strong cash flow and its unencumbered status regarding brand and management, made this an exceptionally attractive investment," said Suzuki. "Boston continues to demonstrate resilient lodging fundamentals driven by its diverse demand generators, including world-class educational institutions, medical facilities, corporate presence and convention and leisure attractions."
The property will become the Spanish hotel chain Eurostars’ fifth U.S. hotel, supporting the group’s North American expansion, the statement said.
Amancio López Seijas, president of Grupo Hotusa and Eurostars Hotels Co., said the addition of Eurostars’ The Boxer strengthens the company’s presence in key locations and promotes urban tourism.
Sun acquired the Hyatt Place Albuquerque/Uptown in New Mexico.
The hotel has 1,127 square feet of meeting space, a fitness center and an outdoor pool.
The 126-key, six-story hotel is near ABQ Uptown and Coronado Center.
SUN CAPITAL HOTELS recently acquired the 126-key six-story Hyatt Place Albuquerque/Uptown in Albuquerque, New Mexico, from an institutional owner. Hunter Hotel Advisors brokered the transaction and terms were not disclosed.
The hotel is near ABQ Uptown and Coronado Center, which together total more than 1.4 million square feet of retail space, Sun said in a statement. Demand drivers include EXPO New Mexico, Tingley Coliseum, the University of New Mexico and the city’s convention, cultural and sports facilities. The hotel has 1,127 square feet of meeting space, a business center, a 24-hour fitness center and an outdoor pool.
“This hotel marks our seventh property in Albuquerque and twelfth overall in our portfolio,” said Kholwadwala. “It’s a great asset right in our front yard, in a high barrier-to-entry submarket. My father started out in Albuquerque in 1981 with a small 23-room motel, so this acquisition carries personal meaning as well. Sun Capital Hotels has seven additional hotels in its pipeline and continues to grow through both new builds and acquisitions.”
Brian Embree, vice president in Hunter’s Los Angeles office, facilitated the transaction, the statement said.
Embree said the Hyatt Place is a top-performing hotel in one of Albuquerque’s strongest districts.
“The property is positioned to capture strong demand from retail, entertainment, university and convention activity, as well as Albuquerque’s thriving film industry,” he said.
City councilman criticized for anti-Indian comments