Opportunistic Outlook: Mehul Patel on NewcrestImage’s Acquisition Strategy
In 2022, NewcrestImage acquired nearly 90 hotels. Managing Partner and CEO Mehul Patel expects to top that number in 2023. To date, the Dallas, Texas-based company is well on its way to acquiring 100 properties this year: In March alone, NewcrestImage announced two joint venture (JV) acquisitions with Phoenix, Arizona-based Hospitality Capital Partners (HCP), adding a 16-hotel portfolio spanning nine states and an 11-hotel portfolio spanning seven states. HCP and its principals have owned nearly […]
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