Joint Venture Acquires 180-Room Dual-Branded Hotel in The Woodlands, Texas

THE WOODLANDS, TEXAS — A joint venture between Dallas-based hospitality owner-operator NewcrestImage, Dabu Group and Preeminent Hotels has acquired a 180-room, dual-branded hotel in The Woodlands, about 30 miles north of Houston. The property consists of a 90-room Courtyard by Marriott hotel and a 90-room Residence Inn by Marriott hotel. Amenities at the Courtyard include a fine dining restaurant, Starbucks coffee shop, fitness center, business center and an indoor pool, while the Residence Inn also offers an indoor pool and fitness center, as well as tennis courts and grilling stations. The new ownership plans to implement a capital improvement program.