Source: Aimbridge Hospitality

DALLAS, TX – NewcrestImage, an award winning hotel development company based in Dallas, announces it will transfer its existing hotel management agreement rights to Aimbridge Hospitality, a leading, global hospitality company, and the two companies have identified new growth opportunities together.

Specifically, NewcrestImage and Aimbridge will build on their respective strengths, with NewcrestImage developing and acquiring new hotels and Aimbridge further building on its value added services as one of the largest global hotel operators. NewcrestImage has acquired minority ownership in Aimbridge Hospitality.

“We are excited to grow with NewcrestImage as they develop new properties with Aimbridge as their strategic operating partner,” said Mike Deitemeyer, Aimbridge Hospitality President & CEO. “I look forward to working closely on growth opportunities with Mehul Patel and his team at NewcrestImage who have built one of our industry’s most respected hotel portfolios.”

“Starting with the sale of 27 distinctive properties, with Aimbridge gaining management responsibilities for those hotels, and with NewcrestImage gaining a minority stake in Aimbridge, each of these transactions is important and impressive on its own,” said Mehul Patel, Chairman and CEO of Dallas-based NewcrestImage. “This is a collaboration that will enable both companies to gain unmatched momentum and growth.”

Mehul Patel will join the newly formed Aimbridge Hospitality CEO Advisory Board.

About NewcrestImage

NewcrestImage has become one of the leading hotel companies in America, having transacted over 185 hotels since its start in February of 2013. It is known and respected for unique properties and for repeatedly developing bold, award-winning projects that have transformed the hospitality industry. Among the company’s notable properties are dual-brand hotels, innovatively converted historic buildings, and “lifestyle hotel campuses,” which create vibrant mixed-use neighborhoods. For more information, visit https://newcrestimage.com

Aimbridge Hospitality

Aimbridge Hospitality is a leading global hospitality management company with a growing hotel portfolio representing more than 1,500 properties under contract in 20 countries. As a top hotel management company and trusted operator of over 80 lodging brands and distinctive luxury and lifestyle assets, Aimbridge leverages its scale and operational excellence to consistently deliver results for hotel owners and offer unparalleled opportunities for associates around the globe. Aimbridge adds value through focused, expertise-driven operating divisions in Full Service, Evolution Lifestyle, Enhanced Select Service, and Select Service, optimizing owners' investment returns and driving hotel market success. The Aimbridge EMEA Division has supporting offices across Europe in Amsterdam, Birmingham, and Glasgow. The Aimbridge LatAm Division has offices in Monterrey and Mexico City. Aimbridge Hospitality's global headquarters is based in Plano, Texas. To learn more, visit www.aimbridgehospitality.com. Connect with Aimbridge on LinkedIn.