In the early 1970s, two immigrants from India left behind their families in search of a better life in America. Although neither knew the other, both came to the United States to pursue higher education and to fulfill their entrepreneurial appetites. Paying their way through school with various jobs as busboys and other posts in the hotel, finance, retail, and real estate industries, the two immigrants happened by chance to end up in Virginia at the same time.
Both young men landed at Norfolk State University – one as the school’s auditor and another as a professor of Finance. Realizing their common interests – to own their own business – the two immigrants worked their day jobs and cobbled together whatever savings they had to purchase their first motel together in 1983 in Virginia. These two immigrants are the founders of LTD Hospitality Group, Mr. Dilip Desai and Mr. Hari Thakkar.
More than thirty years after the purchase of its first motel, the principals of LTD Hospitality Group, which is now led by Desai’s and Thakkar’s sons, have completed over $800 million of hospitality and mixed use projects representing more than 6,000 rooms. With this unique owner/management alignment of goals and perspective, the group has aspirations to grow further on a national level.
LTD Hospitality Group has always strived to be a better company over the years, which is clearly indicated by the progression of brands owned and managed by the Company today. Those brands include Marriott, Hyatt, Hilton, Starwood, and Intercontinental Hotels Group.
A major focus for the Company is to give back to the communities in and around the cities LTD conducts business because of the opportunities those communities afforded the Thakkar and Desai families. In 2007, LTD was awarded Marriott’s prestigious Spirit to Serve award for its contributions to those communities.
Pursuing "The Dream"
LTD was established by three Indian immigrant families (the "L" left the partnership 25 years ago to pursue other ventures, Thakkar and Desai remain partners)
Purchase first motel with $20,000 investment
Founders begin new construction development in Virginia (Econo Lodge & Days Inn)
Approved to develop & operate their first Marriott property (Fairfield Inn Chesapeake, VA)
Second Generation Establishes a Solid Platform
Second generation & current leadership join LTD
First franchise to develop all five Marriott select service brands
Begin to develop and manage in Maryland
Named Starwood Preferred Developer and Manager for Aloft, Element, Sheraton, Westin, and Luxury Collection Brands
Appointed to various Marriott development and operational boards
On the Cutting Edge and Expansion
Open first Starwood properties (one of the first new Sheraton prototypes developed)
One of first to develop Aloft and Element brands
Expand investment, development, and operations to Washington DC area, IL, NC, SC
Owned and managed portfolio grows to more than 30 properties
Awarded Marriott Partnership Circle Award (Marriott's top operations and development award)
Appointed to Starwood Development Board and Starwood Franchise Advisory Council
Focused on Seizing Opportunities
Manage more than 3,600 keys across 12 brands and 3 states
Responsible for managing portfolio-wide revenues of $80 million
Asset Manage more than $200 million