/

|

NewcrestImage has purchased the NYLO Dallas Plano Hotel and plans an immediate makeover. It has committed $4 million to the renovations.

The Dallas Business Journal reports NewcrestImage recently bought the hotel from Broadshore Capital Partners. NewcrestImage GP Inc. will rebrand the hotel within the Tapestry Collection, following a similar strategy the firm used last year when it purchased the 162-room NYLO Providence Warwick in Rhode Island and relaunched it as The Loom Hotel.