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Acquisitions & Hotel Openings

NewcrestImage Opens Dual-Branded AC Hotel and Residence Inn by Marriott in Downtown Dallas Historic Mercantile Commerce Building

DALLAS, TX. October 17, 2017 - Downtown Dallas has its first dual-branded hotel with the opening this week by NewcrestImage of a 128-room AC Hotel by Marriott and a 121-room Residence Inn by Marriott. The property is the first AC Hotel in Texas and the first AC Hotel anywhere that brings together two Marriott brands.

“We have dramatically renovated and given vibrant new life to the historic Mercantile Commerce Building, which originally opened in 1956 and has been vacant for 25 years,” explained Mehul Patel, Chairman of NewcrestImage. “By moving from retired to relevant, this building will add significant momentum to the revitalization of downtown Dallas.”

The reimagined property features the AC Hotel lobby and lounge on the first floor, with guest rooms on floors three through 10, while the Residence Inn lobby is on the second floor, with guest rooms on floors 11 through 21.

Each hotel is highlighted by distinctive, customized interior design and furnishings that appeal to its specialized market segment – select service for AC and extended stay for Residence.

The AC Hotel, for example, is inspired by clean, modern European style such as guest rooms with “floating” furniture and public space with terrazzo floors, travertine walls, and commissioned artwork from around the world.

In contrast, the Residence Inn brings together international flair with southern charm, and spotlights various Dallas signature landmarks. For example, décor elements include headboards that mimic the stitching in cowboy boots; lighting fixtures that depict the city skyline; and a commissioned art collection that was created by local artists.

The two hotels have separate lobbies, lounges, dining areas, and business centers, while sharing a bar, fitness center, and back-of-the-house space. The properties also share the same management, sales, and housekeeping teams, led by General Manager Kellie Adams, a 21-year veteran of the hospitality industry.

A 10-floor parking garage, which is scheduled to open in 2018 behind the building, will include an indoor swimming pool to serve the two new hotels as well as NewcrestImage’s Hampton Inn & Suites located immediately adjacent.

The 176-room Hampton opened in July of 2016 as adaptive reuse of the 18-floor former Allen Building, which was built in 1923. That hotel became the largest Hampton in Dallas and the first Hampton in downtown Dallas in more than 12 years.

NewcrestImage has a history of “first’s” with its projects. For example, in November of 2014, the company opened the first AC Hotel in North America with renovation of the former New Orleans Cotton Exchange into a 220-room property in that city’s French Quarter.

In December of 2013, NewcrestImage opened the first dual-branded hotel in the Dallas-Fort Worth metroplex with a property featuring two Marriott brands – a 181-room Courtyard and a 120-suite TownePlace Suites – in Grapevine, about two miles from DFW International Airport.

NewcrestImage, based in the Dallas suburb of Lewisville, currently owns and operates a portfolio of 23 hotels, with another 10 properties under construction or in development, including historic sites in Cincinnati, New Orleans, and Houston. The company has three divisions: real estate, construction, and hotel management.

About NewcrestImage

Currently, Dallas-based NewcrestImage owns and operates a portfolio of 23 hotels, with another 10 properties under construction or in development, including historic sites in Dallas, Cincinnati, New Orleans, and Houston. The company has three divisions: real estate development; construction; and hotel management.

Contact:
Peter G. Mathon
pmathon@mathonpr.com
770-396-4555

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.