The slogan at Integral Hospitality is “Managing Your Portfolio, So You Can Build It.” A prime example of that is one of our newest owners, Vimal Patel, who completed his new 64 room Sleep Inn & Suites in historic Carlsbad, New Mexico in August 2015.
Vimal’s family is a prime example of the American Dream. His father, who Vimal calls his hero, came to the United States in the 1970s with very little money and bought a hotel in Albuquerque, New Mexico. As they ran the hotel, with time they built enough value that they could trade up to bigger hotels.
Vimal owns the Comfort Inn Albuquerque Airport today. He keeps close tabs on its operation. But he had his eyes on a market about 225 miles away, in the southeastern corner of New Mexico: Carlsbad. Famous for two National Parks that are located nearby, including the namesake Carlsbad Caverns NP, the city of 27,653 is the economic center of that part of the state. The Carlsbad hotel market has been white hot, fueled by the charge for American oil independence through hydraulic fracturing. Rates were through the roof.
Vimal knew that he wanted a professional third-party management company to lead his new asset, so he reached out to Integral Hospitality Solutions. “When times are good, I knew that I wanted someone to maximize my revenue by managing rates and inventory closely,” said Vimal. “But it will be even more important when the oil and gas is down.”
Indeed, recent drops in the price of oil have made it more challenging for hotels in markets that are driven by energy. The Sleep Inn & Suites has continued to perform at a high level through Integral’s leadership. Guests are happy, scores are good, and the bottom line is good. Now, instead of worrying about an employee issue or franchise compliance, Vimal has his eye on the ball, looking for acquisition targets with upside or great sites for his next new build.
That’s just how Vimal likes it. And he has just enough time left over to play in Integral’s Fantasy Baseball League as well.
Let Integral manage your portfolio, so you can build it.
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