A Proud History Anchored in Growth
A Proud History Anchored in Growth
M&R Hotel Group, a development company focused on acquiring and building hotels in the New York metropolitan area and beyond, was founded in 1992 by Madhu Patni and the late Rajendra Gandhi, both of whom had been principals in Hersha Hospitality Trust, a real estate investment trust formed in 1986 and traded on the American Stock Exchange since 1999.
In recent years, leadership of M&R Hotel Group has passed to the second generation of both families. Amit Gandhi, his brother, Samir, and Manish Patni are fully vested in all aspects of development and also serve as principals of M&R Hotel Management, a company created in 2001 to serve as the operating arm of M&R Hotel Group.
Thanks to strong and steady leadership, M&R Hotel Group and M&R Hotel Management have grown to own and operate more than 975 guest rooms in New York with another 700 rooms expected to open in the city in 2014 and 2015.
M&R Hotel Group’s first project was construction of a 45-room Howard Johnson Inn on East Houston Street in Manhattan in 2001, which the company managed until 2005 when the property was sold. In 2002, M&R Hotel Group opened an 80-room Comfort Inn in Long Island City, N.Y., the first nationally branded, limited-service hotel to be constructed there, and managed it until 2005 when it was sold.
In 2004, the company constructed an 80-room Comfort Inn on West 39th Street in Manhattan, near Times Square, which they managed until it was sold in 2007. That was followed in 2005 by a 211-room Holiday Inn Express built on the same block, which they managed until it was sold in 2009.
Also in 2005, M&R Hotel Group purchased three limited-service hotels – an 88-room Best Western, 129-room Holiday Inn Express and 75-room Days Inn – adjacent to one other near John F. Kennedy International Airport off South Conduit Avenue in Jamaica, N.Y.
After acquiring a large parcel on Wild Avenue in Staten Island, New York’s southernmost borough, M&R Hotel Group constructed a 93-room Comfort Inn and a 95-room Holiday Inn Express, which opened in 2008. Also that year, the company acquired an 85-room Best Western hotel in Flushing, N.Y., near LaGuardia Airport, and converted it to a Holiday Inn Express.
M&R Hotel Group’s development in Manhattan accelerated in 2009 when it acquired property at the corner of Delancey and Suffolk streets and built a 132-room Holiday Inn, which opened in 2013. Also in 2009, the company acquired land for two hotels on West 48th Street and built a 177-room Holiday Inn Express and 89-room Comfort Inn, which opened in 2013.
M&R Hotel Group built a 186-room Hyatt Place hotel on 36th Street at Herald Square, the brand’s first hotel in Manhattan and only the sixth Hyatt hotel in New York City, which opened in 2013 and was sold later that year.
In November 2013, M&R Hotel Management announced the signing of its first third-party management agreement, a contract to operate a 201-room, full-service Holiday Inn, which opened in early December at the intersection of Brookville and Rockaway boulevards in Jamaica, N.Y., just east of Kennedy Airport.
M&R Hotel Group currently is building five new hotels in New York: a 27l-room, 100,000-square-foot Holiday Inn on Eighth Avenue, a 250-room, 85,000-square-foot Hilton Garden Inn at 6 Water St., a 250-room Hilton Garden Inn on 37th Street and Eighth Avenue, a 100-room Comfort Inn & Suites on 54th Street and Ninth Avenue and a 105-room Holiday Inn on Wild Avenue, Staten Island, all expected to open during 2014 and 2015.
- Hotel Management
- Human Resources
- Sales and Marketing
- Food and Beverage
- Revenue Management
- Hotel Development Consulting
- Site Selection
- Feasibility Analysis
- Contractor Selection