Mital Patel is a third-generation entrepreneur, born in Longview, Texas. He joined his cousin Yogi in their family’s business in 2003 upon graduating from the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. In 2007, they leveraged his strengths and education by shifting him into business development.
With an aggressive expansion plan underway, Mital’s primary focuses were on site selection, due diligence, and market analysis. Within two years, the company nearly doubled its portfolio, increasing its room count by 93 percent. But in 2009, the economic downturn forced a change in priorities as new developments were placed on hold across the industry.
Under Mital’s direction, the family navigated the crisis by implementing technology-driven business tools to help them achieve the necessary cost savings and to streamline the fast-growing company’s administrative processes. After the 2012 merger that formed NewcrestImage, in preparation for a new era of growth, Mital oversaw the creation of the company’s private equity division, NewcrestImage Capital Advisors.