NewcrestImage Names Gary Mills SVP of Acquisitions
Gary Mills rejoins NewcrestImage in a newly created role to drive hotel real estate acquisitions nationwide.
The short answer
NewcrestImage has rehired Gary Mills as senior vice president of acquisitions to lead the firm's hotel transaction strategy. Mills previously served as the firm's vice president of real estate from 2015 to 2020, helping double its portfolio.
The short version
- Gary Mills returns to NewcrestImage as senior vice president of acquisitions after serving as VP of real estate from 2015 to 2020.
- NewcrestImage has completed more than $3 billion in transactions across nearly 300 hotels since 2013.
- Mills brings over 45 years of hospitality experience, including past roles at Hilton, Choice Hotels, and Hunter Advisors.
NewcrestImage has appointed hospitality veteran Gary Mills as senior vice president of acquisitions to direct the firm's acquisition efforts across its real estate portfolio [1]. Mills brings over 45 years of industry experience to the newly created role, returning to the investment firm where he previously served as vice president of real estate from 2015 to 2020 [1], [2].
What role will Gary Mills play at NewcrestImage?
Gary Mills will lead the acquisition strategy across NewcrestImage's real estate portfolio in the newly created position of SVP of acquisitions [1], [2]. As Hotel Business reported, Mills carries more than 45 years of hotel industry background into this position [2]. NewcrestImage confirmed that Mills will focus on identifying distinctive hotel properties with profit upside, actively collaborating with property owners and the brokerage community [1], [2].
According to Asian Hospitality, NewcrestImage managing partner Mehul Patel emphasized that acquisitions have historically served as a core strategy for the firm [1]. Patel stated that Mills excels at structuring complex transactions that work for all involved parties, positioning the company to build value and accelerate asset growth [1].
What is Gary Mills' prior track record with the company?
Gary Mills previously worked at NewcrestImage for five years as vice president of real estate, serving from 2015 through 2020 [1], [2]. During that five-year tenure, Mills helped NewcrestImage double its hotel portfolio [1], [2]. His return brings familiar leadership back to the investment firm as it looks to expand its footprint [1].
| Executive / Firm Milestone | Detail / Scope | Source Reference |
|---|---|---|
| Gary Mills Industry Experience | More than 45 years | Hotel Business [2] |
| Prior NewcrestImage Tenure | 2015–2020 (VP of Real Estate) | Asian Hospitality [1], Hotel Business [2] |
| Portfolio Impact (2015–2020) | Helped double company portfolio | Asian Hospitality [1], Hotel Business [2] |
| NewcrestImage Historical Transactions | More than $3 billion (founded 2013) | Asian Hospitality [1] |
| Total Properties / Rooms Transacted | Nearly 300 hotels / 32,000 rooms | Asian Hospitality [1] |
| Current Operating Portfolio | More than 45 hotels | Asian Hospitality [1] |
Where else has Gary Mills worked in the hotel industry?
Before his return to NewcrestImage, Gary Mills held executive roles with major hotel franchisors and advisory firms [1], [2]. Both Asian Hospitality and Hotel Business reported that Mills served as regional vice president of franchise sales development for Choice Hotels' Cambria Hotels brand [1], [2]. In 1996, Mills helped launch the Hilton Garden Inn concept for Hilton [1], [2].
Beyond brand development, Mills worked as a vice president at Hunter Advisors [1], [2]. He also founded his own firm, Gary C. Mills Hotels LLC, where he provided specialized consulting services directly to hotel owners and developers [1], [2].
What is the scale of NewcrestImage's current investment portfolio?
NewcrestImage currently owns more than 45 hotels across the United States [1]. Since its founding in 2013, the hospitality company has completed more than $3 billion in transactions [1]. These deals have involved nearly 300 hotels and 32,000 rooms located across 130 communities [1].
The company continues to pursue selective property investments across prime markets [1]. In June, NewcrestImage acquired the Graduate by Hilton in Tempe, Arizona, adding another high-profile asset to its expanding transaction ledger [1].
Reported by
This article was written from the following reporting. Follow the links for the original coverage.
- [1]NewcrestImage Rehires Gary Mills to Lead Hotel Acquisitions— asianhospitality.com
- [2]NewcrestImage Appoints Gary Mills as Acquisitions SVP— Hotel Business
Frequently asked
+What position did Gary Mills take at NewcrestImage?
Gary Mills was appointed as senior vice president of acquisitions, a newly created role where he will lead NewcrestImage's acquisition strategy across its real estate portfolio.
+Did Gary Mills previously work for NewcrestImage?
Yes, Mills served as vice president of real estate at NewcrestImage from 2015 to 2020, during which he helped the company double the size of its hotel portfolio.
+What other hospitality brands has Gary Mills worked with?
Mills served as regional vice president of franchise sales development for Choice Hotels' Cambria brand, helped launch Hilton Garden Inn in 1996, and worked as vice president at Hunter Advisors.
+How many hotels does NewcrestImage currently own?
NewcrestImage currently owns more than 45 hotels. Since 2013, the company has completed over $3 billion in transactions covering nearly 300 hotels and 32,000 rooms across 130 communities.
+What recent hotel acquisition did NewcrestImage complete?
In June, NewcrestImage completed the acquisition of the Graduate by Hilton located in Tempe, Arizona.
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