DALLAS—NewcrestImage has reached a definitive agreement to purchase nine hotels in Arizona from G6 Hospitality—six branded Motel 6 and three branded Studio 6. The transaction is expected to close in early March.
“Acquiring properties, along with developing new hotels, are our two primary investment strategies for achieving growth in 2022,” said Mehul Patel, chairman and CEO of Dallas-based NewcrestImage. “We look forward to creating fresh opportunities for these nine Arizona hotels in keeping with our operating philosophy, abilities, and track record.”
Patel added that Arizona is an attractive market because its hotel occupancy is robust and above the national average. “As people get out and reconnect, Arizona benefits by offering a favorable climate and many popular destinations for both vacation trips and business events.”
“NewcrestImage has an outstanding reputation for being great partners and quality hoteliers,” said Rob Palleschi, CEO of G6 Hospitality. “Their experience, ingenuity, and commitment to common values position us for a strong and strategic partnership. I’m honored to welcome them into the G6 family.”
The properties being acquired are the 152-room Motel 6 Mesa North, the 148-room Motel 6 Phoenix West, the 131-room Motel 6 Phoenix Tempe, the 100-room Motel 6 Scottsdale South, the 91-room Motel 6 Mesa South, the 61-room Motel 6 Phoenix Airport, the 151-room Studio 6 Tempe, the 142-room Studio 6 Phoenix Deer Valley, and the 121-room Studio 6 Tucson East.
G6 Hospitality owns, operates, and franchises about 1,400 economy lodging locations in the United States and Canada under the Motel 6 and Studio 6 brands. The company has headquarters in the North Dallas suburb of Carrollton, Texas.
NewcrestImage has transacted more than 185 hotels since its start in February of 2013. Among the company’s notable properties are dual-brand hotels, converted historic buildings, and “lifestyle hotel campuses,” which create vibrant mixed-use neighborhoods.