Summary:
- TAJ selected HE to manage 13 hotels in Lubbock, Texas.
- Lubbock-based TAJ is led by Founder and CEO Henry Patel
- The portfolio includes Aloft, HIE, TownePlace Suites and Fairfield Inn.
Locally based TAJ Hospitality is led by Founder and CEO Henry Patel, Managing Director and Chief Investment Officer Neeraj Patel, and Managing Director and Chief Development Officer Aviraj Patel. The family-owned company has more than 40 years of experience and owns 13 hotels operating under its homegrown hospitality approach.
“Partnering with Hotel Equities is a key milestone in strengthening our operations and positioning our hotels for long-term success,” said Henry Patel. “Their ability to move quickly, tailor solutions to each property and operate with a local-first mindset, along with their responsiveness and owner-minded approach, makes them the right partner as we continue growing our hotels in Lubbock and serving the community.”
Lubbock attracts millions of visitors annually for its university, music and cultural attractions, making it a growth market for hospitality, HE said in a statement. As the management company for several TAJ brands, HE has experience and a track record across select-service hotels.
Greg O’Stean, HE’s chief development officer, said the collaboration strengthens HE’s footprint across Texas.
“The diversity of these assets, spanning multiple brands, guest segments and service levels, aligns with our multi-division operating model,” he said. “We look forward to working closely with their teams to enhance performance, elevate the guest experience and continue building on the strong foundation TAJ has created.”
A recent PricewaterhouseCoopers study found that the hospitality industry has shifted from expansion to optimization after several years of post-pandemic normalization, with deal activity remaining steady but selective and most transactions driven by strategic buyers.
