NewcrestImage Breaks Ground on New Residence Inn by Marriott in Tyler, Texas; Slated to Open 2014

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. July 19, 2013

July 19, 2013 - NewcrestImage broke ground on its latest development, a 125-room Residence Inn by Marriott in Tyler, TX on July 9th, 2013, to meet the growing demand for extended-stay hotels in the area. This development marks the company's return to the Tyler community after exiting the market in 2012.

Located on a prime, three acre lot on South Broadway Avenue, this new development will replace the existing exterior corridor Residence Inn and see NewcrestImage return to a market they had been present in since 2000, prior to selling their assets there in August of last year.

This latest-generation Residence Inn by Marriott will offer extended-stay residents a choice of studio and two-bedroom suites, each one fully equipped to meet every need, and all located within the same building to enhance accessibility for residents. From fitted kitchens to complimentary personalized grocery shopping services via free breakfasts and evening gatherings, the property will aim to exceed guest expectations. Among the range of amenities on offer will also be an indoor pool, a basketball court, a half tennis court, and a large outdoor patio with its own barbeque grill and fire pit.

For NewcrestImage, this development holds special significance, as it marks their return to a market they know well. The company-a fully integrated hotel company merging development, construction, and management-have an in-depth understanding of the market, having built and managed two properties there prior to their sale last year; a Holiday Inn Express, and a Courtyard by Marriott.

"We're delighted to be back in the Tyler community," said Yogi Patel, COO of NewcrestImage's management division. "We never intended to be out of the Tyler market for long, and with this property we look forward to offering extended-stay guests a high-quality option in the booming south-side of the city."

Slated for opening in summer 2014, the property will be the second Residence Inn by Marriott in NewcrestImage's portfolio, and the eighth Marriott property built by the company since 2004. NewcrestImage will both build and manage the property, as with their prior developments, thus ensuring a seamless launch.

For more information on this or other NewcrestImage developments, please contact NewcrestImage.com.

About NewcrestImage

NewcrestImage has experience with hotels on historic sites, having won the "Best Adaptive Reuse" Award in 2011 from the Texas Downtown Association for the company's redevelopment of the Fisk Building in Amarillo, which dates from 1927 and was designed into a Courtyard by Marriott.

Currently, Dallas-based NewcrestImage owns and operates 12 hotel properties, with six properties under construction, and another three real estate properties in various stages of development, including a 52-acre master-planned community in the Dallas area that features multi-family housing alongside destinations for shopping, dining, and entertainment. www.newcrestimage.com