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NewcrestImage acquires NYLO in Dallas

It plans to renovate and rebrand it within the Tapestry Collection

NewcrestImage Acquire NYLO Dallas Plano Hotel; Dallas, Texas

NewcrestImage recently acquired the 176-key, five-story NYLO Dallas Plano in Dallas.

Summary:

  • 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.

The company owns more than 45 hotels nationwide.

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