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DALLAS-BASED INVESTMENT firm NewcrestImage has acquired Cambria Hotel Southlake DFW in Southlake, Texas, the company said in a statement. The company took over operations at the 175-room upscale hotel and the management will be provided by Aimbridge Hospitality. In January, NewcrestImage and Aimbridge contracted for Aimbridge for management services and NewcrestImage became a minority shareholder in the management company. "The Cambria Hotel Southlake DFW is a vibrant, contemporary hotel strategically located to attract both business and leisure travelers. We look forward to taking the hotel to new levels of performance, both for guests and for our investors," said Mehul Patel, managing partner and CEO of NewcrestImage.

Cambria Hotel Waco University Riverfront in Waco, Texas, owned by KB Hotels led by Kiran "Kenny" Bhakta as founder and CEO, is now open. It is the ninth Cambria Hotel in the southwest. The new 4-story, 130-room property joins Cambria's Austin Downtown, Austin Uptown, Austin Airport, Houston Downtown, McAllen, Plano, Richardson and Southlake, Choice said in a statement. KB Hotels, led by Kiran "Kenny" Bhakta, a hotel development company in central Texas, is spearheading the development of this hotel. "With a rich history anchored by academia and agriculture, Texas is quickly becoming a hub for vacationers and business travelers alike," said Indy Adenaw, Choice's senior vice president and general manager for upscale. "We look forward to expanding Cambria's unique offerings and top-notch amenities to even more guests in the Lone Star State with the opening of the new Cambria Hotel Waco University Riverfront."