Dallas, June 1, 2023 – NewcrestImage, a prominent leader in the hospitality industry, has entered into a strategic partnership with Coury Hospitality, based in Dallas, with a 50% ownership stake. This alliance marks an exciting venture between the two companies, combining their expertise and resources in the pursuit of excellence in 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 – making Coury the largest operator of Autograph Hotels. The collaboration between NewcrestImage and Coury Hospitality presents an opportunity for both companies to strengthen their competitive edge and achieve significant growth in the lifestyle and luxury segment.
Mehul Patel, Chairman and CEO of NewcrestImage, expressed his optimism about the partnership, stating, “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, emphasized the alignment of their strategic goals, stating, “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 their exceptional brand standards and guest satisfaction, Coury Hospitality operates 27 food and beverage (F&B) outlets, further enhancing their offering to guests. The company has also received industry recognition and awards, including the prestigious “Opening Hotel of the Year” for Autograph two years in a row with Hotel Vin in Grapevine, TX and The National in Oklahoma City, Oklahoma. Marriott has also honored Coury Hospitality with the F&B Excellence Award on four occasions, further underscoring their commitment to culinary excellence and operational proficiency.
By combining their strengths and shared vision, NewcrestImage and Coury Hospitality are poised to deliver exceptional experiences to guests and achieve remarkable success in the dynamic landscape of the hospitality industry.
