Mehul Patel Of NewcrestImage Acquires NYLO Dallas Plano Hotel With 176 Rooms In Plano

The property asset involved in the transaction is a hotel located at 8201 Preston Road in Plano. The asset, known as NYLO Dallas Plano, has 176 keys and is part of Hilton’s Tapestry Collection. NewcrestImage has plans for a full renovation and rebranding of the property, including a potential addition of a speakeasy.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not disclosed
• Address: 8201 Preston Road
• Market: Plano
• Keys: 176
• Buyer: Mehul Patel - NewcrestImage

Mehul Patel is the representative of NewcrestImage in this acquisition, which expands the company’s luxury full-service portfolio. The focus on the Legacy District property highlights the company’s commitment to enhancing its offerings in the market.