NewcrestImage secures $28M in financing for Texas Embassy Suites

NewcrestImage secured $28.17 million in financing for the development of a 225-room, full-service Embassy Suites hotel in Amarillo, Texas.

The financing was secured by HFF on behalf of NewcrestImage through Fort Worth-based Southwest Bank. The 200,000-square-foot Hilton hotel is part of a larger plan to grow downtown Amarillo. Other plans include a convention center, parking garage, entertainment venue and ballpark. The new development will also include 30,000 square feet of meeting space, 300 parking spots in an adjacent parking garage, lounge and lobby bar, full-service restaurant, pool and fitness center.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Construction on the property is slated for completion in 2017.

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