The commercial real estate brokerage firm has appointed a high-profile figure as senior vice president and national director of its hospitality division to support its growth ambitions.
Marcus & Millichap has underlined its commitment to the hotel sector with a key hire.
A key player in hospitality circles
Biran Patel has been named senior vice president and national director of the hospitality division at Marcus & Millichap. He’ll oversee the commercial real estate brokerage firm’s hospitality division, which provides investment advisory and transaction services for lodging, resort, marina and golf properties.
JD Parker, executive vice president and chief operating officer-eastern division at Marcus & Millichap, said: “We are thrilled to have Biran lead our hospitality division. His abundance of experience across all facets of the hospitality industry over the past 20 years, coupled with our position as the market leader in limited and select-services hospitality sales, provides a unique and indispensable resource for our clients.”
The division brings together more than 100 professionals offering a range of investment advisory and transaction services within the sector.
Extensive industry expertise
Before joining Marcus & Millichap, Patel served as an officer for the Asian American Hotel Owners Association, where he was also chairman in late 2020 and early 2021. He earned a BS in finance from the University of Texas.
Patel said: “The hospitality industry has been an integral part of my life. I spent my childhood being exposed to every aspect of the business at my family’s hotels.
“By learning from the ground up, I have a unique perspective of the intricacies associated with a successfully run hotel and have utilised this knowledge throughout my professional career. I’m excited about bringing my breadth of hospitality experience and business acumen to Marcus & Millichap.”
Parker concluded: “The addition of Biran is a key part of our ongoing commitment to expand our platform and bring industry expertise to bear in assisting our clients with their investment objectives.”
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