Skip to content

Search

Latest Stories

NewcrestImage forms JV to acquire Best Western Plus in Arizona

The company has added 77 hotels with almost 8,000 rooms since March

NewcrestImage forms JV to acquire Best Western Plus in Arizona

DALLAS-BASED NEWCRESTIMAGE formed a joint venture with Dabu Hotels, and Countrywide Hospitality to acquire the 130-room Best Western Plus at Lake Powell in Page, Arizona, operated by Terrapin Hospitality, a statement said.

The company said that the Arizona property is located in a leisure destination area that is visited by more than 4.5 million visitors. Nearby attractions are the Grand Canyon, Lake Powell, Monument Valley, Glen Canyon Dam, Antelope Canyon, and Horseshoe Bend, the statement added.


“This hotel is a key stop for travelers who are making the ‘grand circle’ tour of western national parks such as Zion Park and Bryce National Park,” said Mehul Patel, managing partner and CEO of NewcrestImage. “We are always looking to acquire well-positioned properties such as this one, and we are excited to partner with strong investment partners like Dabu Hotels and Countrywide Hospitality.”

Since March, NewcrestImage has added 77 hotels with almost 8,000 rooms. In September, the company added 60 Marriott-branded hotels with about 5,500 rooms located in 19 states.

Since its founding in February of 2013, NewcrestImage has completed more than $3 billion in transactions involving almost 275 hotels with almost 30,000 hotel rooms in 130 communities across the country.

It owns and operates 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.

Earlier in September, NewcrestImage announced plans to acquire 45 hotels, with a portfolio of 3,300 rooms in 11 states, from a private investment firm.

More for you

Trump policies took center stage in 2025
Photo by Win McNamee/Getty Images

Trump policies took center stage in 2025

Summary:

  • Policy shifts and trade tensions shaped the U.S. hospitality industry.
  • A congressional deadlock triggered a federal shutdown from Oct. 1 to Nov. 12.
  • Visa limitations and the immigration crackdown dampened international travel.

THE U.S. HOSPITALITY industry navigated a year of policy shifts, leadership changes, trade tensions and reflection. From Washington’s decisions affecting travel and tourism to industry gatherings and the loss of influential figures, these stories dominated conversation and shaped the sector.

Policy uncertainty took center stage as Washington ground to a halt. A congressional deadlock over healthcare subsidies and spending priorities triggered a federal government shutdown that began on Oct. 1 and lasted until Nov. 12. The U.S. Travel Association warned the shutdown could cost the travel economy up to $1 billion per week, citing disruptions at federal agencies and the Transportation Security Administration. Industry leaders said prolonged gridlock would further strain hotels already facing rising costs and workforce challenges.

Keep ReadingShow less