NewcrestImage has named Manuel F. Ortiz to lead its investor relations department in the newly-created position of Vice President, Investor Relations. He joins the in-house finance team that is responsible for managing investment portfolios as part of a billion-dollar expansion program announced by the company in July of 2019.
“We have committed to raising $250 million in equity from both institutional and non-institutional sources for investment in acquisitions, new-build projects, and adaptive re-use of historic buildings,” explained Mehul Patel, Chairman and CEO of NewcrestImage.
“Now we are actively adding the personnel and creating the infrastructure that will strengthen and broaden our relationships with key stakeholders,” added Patel. “Manuel’s impressive specialized skills, experience, and track record of performance will help us achieve our goals promptly, innovatively, and responsibly.”
Ortiz has almost 20 years of finance experience working in global markets in both the public and private sectors, most recently as Director, Investor Relations with Civitas Capital Group for more than seven years.
Previously, Ortiz led the communications department and worked on economic development for the Port of Brownsville. He has also held positions as an analyst with the Republic Group and with Southwest Corporate Federal Credit Union, and as an underwriter at Zurich North America.
Ortiz, who has been recognized with industry awards for his achievements, earned an MBA at Southern Methodist University and a BBA degree at the University of Texas at Austin, with a minor in international business. Dallas-based NewcrestImage currently has a portfolio of 32 distinctive owned and operated hotels located in 10 states, with another 18 properties under construction or in development. During the past decade, NewcrestImage has invested in more than 180 hotels with a total of about 20,000 rooms, including almost 90 new-builds; about 85 acquisitions; 11 adaptive reuse projects of historic sites; and seven dual-brand properties.