Business View Magazine | January 2020

192 BUSINESS VIEW MAGAZINE JANUARY 2020 with flexible and objective business-based decisions to maintain, or exceed, business/ investment goals. When acting as project manager for large hotel restoration and renovation projects, MTEL manages all aspects of the construction, as well as assisting with obtaining suitable financing – one of the most critical steps in acquiring or constructing an asset. The firm’s experience and knowledge is a sought-after resource with proven results in increasing hotel profitability, solving hospitality management system inefficiencies, re-engineering management policies and hotel staff, establishing effective marketing programs, and, ultimately, helping to increase an asset’s profitability. Vinit and Nik Mody, a father-son team co- founded MTEL Consultants, Nik recalls, “The company was founded about 20 years ago, filling a niche in the hospitality industry as it related to brokerage. Our approach was very different, at the time, underwriting each asset as if we were buying it. We saw this as a necessary service because a lot of brokers were just saying, ‘here’s the revenue, here’s the budget, and the star reports, and the relevant due diligence materials.’ And we found that it just wasn’t effective. So, when we started creating our offering memorandum, it seems as though the industry took notice and began creating something similar, as well.” In that regard, MTEL were pioneers from the brokerage standpoint. And, as more and more transactions began happening, it made sense for the firm to grow in terms of services offered. Today, more than two decades later, the portfolio includes brokerage, financing, third-party asset management, revenue management, merchant processing, hotel insurance, renovation/ construction, as well as case goods, lighting, and plumbing. Associates of MTEL are partners in a number of hotels, and as a result, the company understands an “owner’s” perspective for top-line growth and bottom-line impact. The majority of clients own name-brand hotel franchises,