In March of 2007, Mike announced perhaps their most ambitious
This acquisition moves the Patel brothers from being franchisees to being franchisors … and makes
them the first Asian-American hotel franchisors in the United States. Their goal: 400 franchises
within four years.
undertaking... with the purchase of franchise rights to the “Budgetel” hotel
brand from The Blackstone Group.
The Budgetel brand is revolutionary in the hotel industry because franchisees have the opportunity to own stock in the parent company … which gives them an unprecedented voice in decisions that affect their profitability.
The brand is also be the first hotel company built on the “12 Points of Fair Franchising” which were developed by Mike Patel in the late 1990’s and have been instrumental in reforming relations between franchisees and franchisers, along with shaping legislation.
Visit the Budgetel website