Mr. Patel will spearhead New Generation Hospitality's growth as it focuses on broadening its asset base and expanding its development division. Jeffrey Obomeghie will oversee all of the company's owned and managed properties.
New Generation Hospitality announced that it has appointed Sonny Patel as CEO, and Jeffrey Obomeghie as COO of its hotel management division.
Mr. Patel will spearhead New Generation Hospitality's growth as it focuses on broadening its asset base and expanding its development division. Jeffrey Obomeghie will oversee all of the company's owned and managed properties.
Sonny Patel was the Founder and CEO of RevPAC Hotel Management. An accomplished Hotelier, he is a proven expert at turning around hotel assets and repositioning them for success. Mr. Patel has owned and operated multiple hotels across a broad spectrum of brands. His deployment of cutting edge hospitality technology solutions and reporting systems has helped his properties deliver above industry results.
Prior to his current role as COO, Jeffrey Obomeghie was Vice President of Hotel Operations for New Generation Management. A veteran hospitality professional, he joined New Generation from Remington Hotel Corporation where he oversaw some high profile hotel assets for the company on behalf of Ashford Hospitality Trust, a Dallas-based REIT. He takes over leadership of NG Management from Kevin Mahoney, who led the company through a period of successful, accelerated growth. Kevin Mahoney is moving on to other hospitality related ventures.
"New Generation Hospitality is poised for exponential growth within the next calendar year," said Mr. Patel. "We are entering into strategic partnerships geared at expanding our asset base. The current hotel down cycle and credit market imbalance provide us with ample growth opportunities. We are interested in potential acquisitions that offer great upside, solid cap rates, strong fundamentals, and historically robust EBITDAs. We are very excited about the future of our company."
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