NewcrestImage has sold its 132-suite, six-floor Hyatt House in the Dallas suburb of Frisco, Texas to a hotel group based in the northeastern United States. The hotel, built by NewcrestImage, opened in March of 2016.
“This sale demonstrates that despite the upheavals of COVID, a well-positioned asset in a strongly-performing market has attractive investment appeal,” said Mehul Patel, Chairman and CEO of NewcrestImage.
Added Patel, “Our company constantly evaluates how we can best add value and boost profitably for our investors. Proceeds of the Frisco transaction enable us to move ahead promptly and efficiently with additions to our portfolio of new properties and new opportunities in new markets.”
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