NEWCRESTIMAGE RECENTLY ACQUIRED the DoubleTree Suites by Hilton Hotel Columbus Downtown in Columbus, Ohio. The 15-floor property features 194 suites with some of the largest square footage in the Columbus market, NewcrestImage said in a statement.
“This acquisition underscores our continued appetite for transactions that offer strong growth potential in both market share and asset value,” said Mehul Patel, NewcrestImage’s managing partner and CEO.
The hotel is near the Ohio State Capitol complex and the Greater Columbus Convention Center, two miles from Ohio State University, and seven miles from Columbus International Airport, the statement said. It includes concierge services, a business center, a fitness center, a lounge, a restaurant and 7,000 square feet of conference space.
The deal was brokered by Hunter Hotel Advisors, with senior vice presidents Tim Osborne and Spencer Davidson representing the seller.
“The DoubleTree deal marks the second transaction of a full-service, value-added hotel that Hunter has successfully closed in the past three months, and we have our eyes on several others,” said Davidson. “This trend echoes the continuing demand for high-quality assets in dynamic markets, and we’re thrilled to have facilitated this deal with a buyer who is poised to enhance the property’s value and appeal.”
Founded in 2013, NewcrestImage has been involved in transactions totaling more than $3 billion, including nearly 275 hotels and 30,000 rooms across 130 communities nationwide.
In October, a joint venture of NewcrestImage, Dabu Group, and Preeminent Hotels acquired two Marriott-branded hotels: a 90-room Courtyard and a 90-suite Residence Inn in The Woodlands, Texas, 35 miles north of Houston.
