AN ASIAN AMERICAN doctor turned hotel investor is involved in two major projects – one in Florida and the other in New Jersey.
Dr. Kiran Patel of Tampa, Florida, plans to take over the $136 million development of a JW Marriott on Clearwater Beach. Pending Marriott International’s approval of the deal, Patel will see the beleaguered project, begun last year by developer Uday Lele, to completion.
Just days after that news broke, Wyndham Hotels & Resorts announced Patel and a group of partners plan a $17 million renovation of the Seaview, a Dolce Hotel, in Galloway, New Jersey.
KDG Capital LLC, of which Patel is a partner, acquired the 296-room property in July for $21 million from Stockton University, reported the Press of Atlantic City. At the time of the sale the hotel was named Seaview Hotel & Golf Club.
Patel is well-known in Florida and other parts of the world for his business success and philanthropy. A cardiologist, Patel switched from doctoring to business when he acquired a New York health maintenance organization, growing it to a $1 billion business, called WellCare Management Group. He sold it in 2002 for $200 million. He also has served as chairman and president of Tampa-based Freedom Health and Optimum Healthcare, which he has sold.
He and his wife, also a physician, established the Drs. Kiran and Pallavi Patel Family Foundation. A year ago, the couple donated $200 million to Nova Southeastern University, which is using the money to build medical schools in Florida and India. The project is among many educational and medical programs the Patels have financially supported over the decades.
Kiran Patel has invested in hotels in such states as Florida, Pennsylvania, Arizona and Colorado.
In early October, the Tampa Bay Times reported Patel will take over the development of the JW Marriott in Clearwater. It will have 166 rooms and 36 residences. Lele last year announced his plans to develop the hotel, but it has had several interruptions and delays, including Hurricane Irma. Patel told the Tampa Bay Times, he can get the hotel built because he is financing the project with his own money.
Lele reportedly paid $25 million in 2005 for the beachfront hotel that stands at the development site. Patel plans to raze the property to make way for the JW Marriott.
On Oct. 16, Wyndham Hotels and Resorts announced Patel’s Seaview, a Dolce Hotel, will undergo a top-to-bottom renovation including guest rooms, event spaces and restaurants. The hotel will close for the winter with plans to reopen in March.
The Seaview Hotel is an historic property on the Jersey Shore. Opened in 1914, guests have included U.S. Presidents Warren G. Harding and Dwight D. Eisenhower; The Rolling Stones; Bob Dylan; and actress Grace Kelly, who celebrated her 16th birthday at the hotel.
Patel’s hotel portfolio includes the Wyndham Grand Resort in Clearwater Beach; the Dolce Cheyenne Mountain Resort in Colorado; the Wyndham Hotel in downtown Pittsburgh; the Wyndham Grand Westward Look in Tucson, Arizona; the Hyatt Regency in downtown Sarasota, Florida; and many limited-service hotels throughout the Tampa Bay area.