Ravi Patel, Hawkeye Hotels
Ravi Patel (September 19, 1985) is an American entrepreneur, investor, hotelier, and former candidate for the United States House of Representatives. He is President of Iowa-based Hawkeye Hotels, one of the fastest growing privately owned hotel firms in the U.S., and Co-Founder of Built By Iowa (BBI).[1]
Ravi was born in Mena, Arkansas, to parents Balvant and Anjana, who migrated to the U.S. from India in 1980 and purchased an 18-room roadside motel in Mena.[2]
The Patels relocated to Iowa, where they established Hawkeye Hotels. Ravi attended Notre Dame High School, a private Catholic school in Burlington.[3] He then earned a BA in Business Management and a Certificate in Entrepreneurship from the University of Iowa.[4]
Hawkeye Hotels[edit]
Ravi became President of his family’s firm Hawkeye Hotels when the company owned 12 hotels. During the economic downturn, when real value of assets plummeted, Patel commissioned over 40 new-builds and acquisitions.[5] Under Ravi’s leadership, Hawkeye Hotels has quadrupled in size, with a current asset value estimated at over $750 million.[6]
In December 2012, Hawkeye Hotels broke a Hilton Worldwide record for the most quickly constructed hotel when they built a Hampton Inn in Iowa City in 131 days, beating the industry average construction time by over 12 months.[7]
The estimated 20-year economic impact of Hawkeye Hotels in Iowa is over $4 billion.[8]
Notable Projects[edit]
Recent developments and renovations that have attracted national attention include:
- The Hotel Majestic (Omni) in Saint Louis, MO[9]
- Hotel Fort Des Moines in Des Moines, IA[10]
- The Hotel Modern in New Orleans, LA[11]
Entrepreneurship and Investments[edit]
In 2013, Ravi worked with Adam Ingersoll of Compass Education Group and TelePharm CEO Roby Miller to establish Built By Iowa (BBI), a venture capital firm specializing in Series A, seed, startup, and early stage investments.[12] BBI aims to help talented entrepreneurs bridge the funding gap between angels and a Series A. Its primary focus is Iowa-based technology start-ups. The typical BBI investment ranges from $50,000 to $250,000.[13]
In 2014, BBI was presented with the Investor of the Year Award by Silicon Prairie News.[14]
Ravi formerly served as President of the Iowa Venture Capital Association, a collaboration of 30 member partners to cultivate and support the entrepreneurial ecosystem in the state of Iowa.[15]
Political Involvement[edit]
Ravi announced his candidacy for the U.S. House of Representatives in Iowa’s 1st district in February 2015.[16] In the first financial filing in April 2015, the campaign reported $539,658.05 in total contributions.[17] Only two Democratic congressional candidates nationwide outraised Patel in that filing period.
Months later, Ravi ended his campaign and returned to the private sector.[18]
Ravi remains active in Democratic politics as a donor and advisor to candidates. In 2014, he was named one of Iowa’s Top 50 “Most Wanted Democrats” by the Des Moines Register.[19] Ravi also was named as a possible choice for the Democratic ballot’s Lieutenant Governor in the November 2018 elections.[20]
References[edit]
- ↑ "Iowa-based Hawkeye Hotels buys Radisson in Davenport".
- ↑ "A History of Hospitality - American Builders Quarterly". americanbuildersquarterly.com.
- ↑ https://newspaperarchive.com/burlington-hawk-eye-may-26-2004-p-3/
- ↑ "Ravi Patel - John Pappajohn Entrepreneurial Center". www.iowajpec.org.
- ↑ equinoxhotels.com/wp-content/uploads/2017/10/Hotel-Business-12-15-14.pdf
- ↑ "Hawkeye Hotels".
- ↑ "Lickety-split: New Iowa City Hampton Inn goes up in 131 days - The Gazette".
- ↑ "CBJ Power Book CBJ Power Book Page 32".
- ↑ Bryant, Tim. "Omni Majestic about to change hands".
- ↑ "Renovated Hotel Fort Des Moines promises to be 'breathtaking,' owner says".
- ↑ "Hotel Modern on Lee Circle sells, to relaunch as InterContinental".
- ↑ "Next Level Ventures is proud to be part of the "greening venture capital landscape in Iowa - Iowa's Venture Capital firm". 8 January 2015.
- ↑ "Built By Iowa: Private Company Information - Bloomberg". www.bloomberg.com.
- ↑ "BTN LiveBIG: Built by Iowa changing the game for Midwest start-ups".
- ↑ "Ravi Patel's schedule for Hotel ROI Chicago 2017".
- ↑ "Hotel executive Ravi Patel to run for Congress in Iowa's 1st district".
- ↑ Brasier, Deborah. "Patel drops out of 1st District Democratic race".
- ↑ "Patel withdraws in 1st District congressional race".
- ↑ "Iowa caucuses: 50 most wanted Democrats".
- ↑ "Who Might Democrats Pick As Their Lt. Governor Running Mate? - Iowa Starting Line". 29 March 2018.
Ravi Patel, Hawkeye Hotels[edit]
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