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.
Renovations to the 176-room hotel are expected to begin by the end of the year and wrap up in the first quarter of 2026. Plans call for updated guest rooms with new flooring and color schemes. A speakeasy is also being considered.
The five-story hotel, located at 8201 Preston Road in Plano’s Legacy area, features loft-style rooms and event space, including a 4,000-square-foot patio surrounding a heated pool.
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