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Downtown Nashville skyline at sunset
Jai B. Patel SparkHVA president headshot

Founder & President

Jai B. Patel

HOTEL CONSULTING EXPERIENCE:

12+ years, 275+ projects, $10+ Billion

  • Former HVS Nashville Co-Founder and Leader

  • Award-winning Hotel GM & Revenue Manager

  • Middle Tennessee Hotel Association Founder​

  • Experienced Short-Term Rental Owner & Operator

Jai began his hospitality career at the Country Inn & Suites by Radisson Nashville Airport East, serving a multitude of operational roles beginning in his high school days, eventually graduating to the title of general manager and being recognized as one of the “Business Leaders of the Year” by Business Leader Magazine in 2012.

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Thereafter, Jai enjoyed over seven years at HVS, a prominent global hospitality consulting and valuation firm, where he co-founded the Nashville office of the firm in 2014 and oversaw operations in the surrounding region through 2020. Over the course of his career, Jai has consulted on over 275 existing and proposed hotel and mixed-use projects nationwide, worth in excess of $10 billion. Most notably in Nashville, Jai assisted in the development of the Four Seasons, The Joseph, Virgin, Bobby, Westin, and W Hotels.

 

​In 2020, Jai co-founded Vivid Capital, an investment firm specializing in alternative lodging ventures, then founded hospitality consulting firm, Spark Hotel Valuation & Advisory in 2021. Subsequently in 2022, Jai joined regional family office, Essex Development, as a partner to lead their hospitality-related investments.  Currently, Essex Development boasts a mixed-use development portfolio of over $1 billion, highlighted by a 160+ key Tribute Collection by Marriott hotel property in Downtown Louisville, a 250+ unit luxury-lifestyle hotel and residences in Nashville's red-hot Germantown district, and the widely-acclaimed Rutledge Hill Historic & Culinary Arts District in Nashville's South Bank, which is slated to offer 20+ new food and beverage outlets, in addition to a five-star luxury hotel, a lifestyle luxury hotel, and a mixed office/multi-family tower.

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Jai also co-founded the Middle Tennessee Hotel Association in 2016 and previously served as an executive board member for the organization. Moreover, undeniably apparent by his over-abundance of bright orange-clad clothing, we note Jai holds dual Bachelor's degrees in Finance and Enterprise Management from The University of Tennessee, and continues to pursue his MAI designation, while being licensed as a State Certified General Real Estate Appraiser in five states.

EDUCATION

APPRAISAL

​MAI CANDIDATE

Classes Completed:

Advanced Income Capitalization – 35 hours
Advanced Concepts and Case Studies – 40 hours
Advanced Market Analysis & HBU – 30 hours
Appraisal of Industrial & Flex Buildings – 7 hours
Appraisal of Self-Storage Facilities – 7 hours
Basic Appraisal Procedures – 30 hours
Basic Appraisal Principles – 30 hours
OH Fair Housing Class – 3 hours
Residential Report Writing and Case Studies – 15 hours
General Appraiser Income Approach (Parts I and II) – 60 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Report Writing and Case Studies – 30 hours
General Appraiser Sales Comparison Approach – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
Quantitative Analysis – 30 hours
Statistics, Modeling and Finance – 15 hours
National Valuation Bias & Fair Housing Laws and Regulations - 7 hours
Uniform Standards of Professional Appraisal Practice – 15 hours
Annual USPAP Updates
 

UNIVERSITY

THE UNIVERSITY OF TENNESSEE, HASLAM SCHOOL OF BUSINESS

B.A. Finance, B.A. Enterprise Management

HOTEL CONSULTING EXPERIENCE

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