**NewcrestImage Acquires NYLO Dallas Plano Hotel, Plans $4M Renovation and Rebrand**
NewcrestImage has acquired the NYLO Dallas Plano Hotel and is set to begin a comprehensive renovation of the property, committing $4 million to the makeover.
According to the Dallas Business Journal, the hotel was purchased from Broadshore Capital Partners. NewcrestImage GP Inc. will rebrand the hotel under Hilton’s Tapestry Collection, using a strategy previously applied in 2023 when the company acquired the 162-room NYLO Providence Warwick in Rhode Island and reintroduced it as The Loom Hotel.
Renovation work on the 176-room Plano hotel is scheduled to start by the end of 2024 and will be completed in the first quarter of 2026. Planned updates include newly designed guest rooms with modern flooring and refreshed color palettes. The company is also exploring the addition of a speakeasy.
Located at 8201 Preston Road in Plano’s Legacy area, the five-story hotel features distinctive loft-style accommodations and versatile event spaces. Amenities also include a 4,000-square-foot patio that wraps around a heated pool.
Industry professionals looking to stay ahead of Texas’ evolving real estate trends—including rising costs, population growth, and increased demand in multifamily development—can join the Texas Market Outlook session at Connect Texas Multifamily. This event will offer insights into regional trends and investment strategies.
**Event Details:**
– **Title:** Connect Texas Multifamily
– **Date:** Thursday, August 28
– **Location:** The Joule, Dallas
– **More Information:** Visit www.ConnectTXMF2025.com
This story originally appeared on Connect CRE.
