A joint venture of NewcrestImage, Dabu Group, and Preeminent Hotels has acquired ownership and operation of two Marriott-branded hotels — the 90-room Courtyard and the 90-suite Residence Inn — located in The Woodlands, 35 miles north of Houston. The transaction closed during the week of October 9.
Both properties will be fully renovated starting next year and will remain open during the renovations.
The hotels are convenient to George Bush Intercontinental Airport, as well as to a variety of major corporate offices such as Chevron Phillips Chemical Co., ExxonMobil, Huntsman Corp., McKesson Specialty Health, and Repsol USA.
Also nearby are prestigious medical facilities such as Houston Methodist The Woodlands, The Woodlands Hospital, and The Woodlands Specialty Hospital, plus popular destinations such as the 160-store Woodlands Mall, the Lone Star Convention & Expo Center, and The Pavilion, a 16,500-seat amphitheater which has been the second-most heavily used amphitheater in the world.
“This transaction brings together a great team that will bring even greater service and profitability to these two fine hotels, which are strategically located in the heart of a commercially-robust and culturally-rich area,” said Mehul Patel, CEO and Managing Partner of NewcrestImage.
Current amenities at the Courtyard include an on-site fine restaurant, Starbucks coffee shop, business center, fitness center, and indoor pool. The Residence Inn features suites with fully-equipped kitchens, as well as an indoor pool, gym, tennis courts, and BBQ grills.
Dallas-based NewcrestImage has completed more than 100 transactions during the past 12 months that together have positioned the company at the forefront of the hospitality industry with a current portfolio of more than 70 hotels nationwide, totaling almost 8,000 rooms.
