Real Estate Development Executive

VIRAL H. PATEL

** ******* *** ******** ** *****

********@**.*** Mobile: 732-***-****

HOSPITALITY, RESTAURANTS & REAL ESTATE PROFESSIONAL A results-oriented leader successful in managing multimillion-dollar hospitality real estate. Background includes hotel acquisitions, development & management of hotels in high barrier to entry markets. Expertise in:

-> Strategic Planning ->Marketing Analysis -> Due Diligence

-> Sales & Marketing ->Process Improvement -> Site Selection

-> Hotel Development ->Financial Lending -> Associate Development

-> Franchise Approvals ->New Construction ->Renovations & PIP

->Revenue Management ->Leadership ->Project Value Creation CARRER ACCOMPLISHMENTS

· Growing a Hospitality Development & Management Company from $4 Million to pipeline total assets of over $100 Million at Able Management Group, Inc.

· Approved the Management C ompany as Marriott Franchisee in 2001.

· Approved the Management Company as Hilton Franchisee in 2013.

· Approved the Management Company as Intercontinental and Wyndham Franchisee in 1999.

· Constructed Hawthorn Suites Fogelsville, PA in 1997.

· Acquired FFI&S Exton, PA in 2001. Sold Hotel post renovation in 2005.

· Arranged Debt Capital & Completed PIP for FFI&S.

· Constructed Wingate Inn in Brentwood, NY in 2003. The project was built with a 1.5 mile long forced sewer underneath sagtikos parkway without any disruption to traffic.

· Arranged Debt Capital for Construction with ICB of NY & forward take out with GE Capital.

· Restructured Commack Hospitality in 2008 with Share Redemption. The redemption of equity was accommodated through refinance of existing loan with GE Capital with same lender.

· Acquired the Holiday Inn Plainview in 2009 through short sale in an all cash private equity deal of

$6M.

· Received 2012 Renovation of Year Award for Holiday Inn Plainview. Total renovations were funded through loan from M&T Bank of over $6M from 2009 thru 2011.

· In 2013 replaced all short term capital with long term debt for Holiday Inn upon stabilization with a conduit lender.

· NNN leased a hotel in Brentwood, NY to LIWEN through complex lease negotiations and unusual tenant situation and timelines in early 2013. The performing lease is current at over $3.3M and increasing yearly. Able protected lender and partner capital by entering into this lease as it was a significant gain for all parties involved. The asset is valued at $32M today.

· Submitted & Awarded an RFP in Jamaica, NY to construct a 221 room hotel as part of a transit oriented project in 2015. RFP was issued through GJDC, Port Authority & LIRR/MTA. Site prep and permits were recently executed and awaiting loan closing.

· Permitted & Approved 120+ room extended stay Hotel due to start in fall 2026 at Exit 68/LIE Long Island. Project is an IDA induced project through Town of Brookhaven and will be built in 2 phases.

PROFESSIONAL EXPERIENCE

ABLE Management Group, Inc, Plainview, New York 1997 to present Hospitality Development & Management Firm

CEO

· Lead the Company in overseeing & Implementing New Development, Acquisition, Operational Management & Financial Accounting (Project and Operational).

· Handle all franchise, lender & partner relations.

· Secure or locate necessary debt funding from lenders and equity funding on project to project basis.

Wyndham Garden Hotel – Laguardia Airport, New York 1997 - 1995 289 Room Airport Hotel

Revenue Manager & Asst. Property Controller

· Oversee and Maintain Inventory and Property Reservations for a busy New York Airport Hotel.

· Managed 2 Associates and trained them on Rate and Inventory Management

· Maintained Relationship with Travel Agents and Direct Bill Clients

· Reduced and maintain current aging accounts

The Hotel Lucerne – New York, NY 1995 - 1994

250 Room Deluxe Hotel

Senior Night Auditor

· Oversee Daily Night Audit Functions for the 250 Room Hotel and Restaurant

· Supervise 3 Associates and ensure guest safety and security.

· Perform Guest Service Agent Functions.

Renart’s Footwear – Huntington, NY 1995 - 1990

Athletic Footwear & Apparel Store

Sales Manager

· Manage sales of athletic footwear and apparel

· Helped open a new retail store while with the company

· Oversaw total operation of store during several months

EDUCATION New York City Technical College, Brooklyn, New York Bachelor of Technology (Telecommunication Engineering) 1996 New York City Technical College, Brooklyn, New York Associate of Applied Science (Electrical Engineering) 1994 W T Clarke High School, Westbury, New York

Class of 1992

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