DALLAS—NewcrestImage has entered into a strategic partnership with Coury Hospitality, based in Dallas, with a 50 percent ownership stake. This alliance marks a venture between the two companies, combining their resources in the pursuit of lifestyle hotel development.
NewcrestImage currently owns a portfolio of approximately 70 hotels across 26 states, while Coury Hospitality manages 12 lifestyle hotels in six states, including 10 Marriott Autograph Collection properties with three more under development. The collaboration between NewcrestImage and Coury Hospitality presents an opportunity for both companies to grow in the lifestyle and luxury segment.
Mehul Patel, chairman and CEO of NewcrestImage, said, “This investment allows us to compete, grow, and succeed together, leveraging our extensive resources, wide geographic reach, and shared commitment to fostering a close-knit corporate culture.”
Paul Coury, CEO of Coury Hospitality and president of Marriott’s Autograph Collection Advisory Board, said, “Our singular focus on managing, developing, and owning lifestyle hotels has yielded remarkable results. With the support of NewcrestImage, we can capitalize on our deep management expertise and strategically expand our portfolio.”
In addition to its brand standards and guest satisfaction, Coury operates 27 food and beverage outlets.