The Business Builder Show is a platform that features champions from different industries from all over the world. Today, Bill Prater is speaking with Ken Patel, the chairman and CEO of EV Hotel, a smart hotel brand. His mission is to revolutionize the hospitality industry with technology innovations to create centric experiences for both guests and employees. He considers himself the Elon Musk of Hospitality and has created a third segment of travelers: technology travelers.
Ken explains that the industry has been stagnant in terms of technology. He has developed software that allows guests to make a reservation, pay for their room, and set preferences such as the temperature, extra pillows, curtains, etc. Two hours before their arrival time, they will get another message asking if they need any food and drinks brought up to their room. EV Hotel has also created intelligent luxury, which includes a trade floor for crypto, an NFT lobby for digital art, and NFT guest rooms. The lobby makes money, and the guest rooms can sell for up to $4 million a night.
Ken explains that EV Hotel is different from other hotels because they have created their own smart devices, such as a bathroom mirror that mirrors the guest's phone, a live energy management tool, an infrared Alexa, and their own business center in every guest room. They also offer Google YouTube TV instead of the typical hotel cable.
Ken Patel is the youngest hotel chairman in the US and he has created the world's first EV Hotel. EV stands for Evolution Venue and is a revolution in the hospitality industry. It follows the Tesla model with savings and revenue streams from different sources such as NFTs. Ken explains that the hospitality industry has been controlled for a long time and it's hard for people to understand how one brand differs from the other. He also talks about how he started the business five years ago with two articles on automation and blockchain, and how he created a journal book to map out processes and transition to new processes. He also emphasizes the importance of social media and how it has enabled him to get the best executive team and athletes, as well as create their own development arm. Ken has achieved many milestones, such as gaining 5,000 and 10,000 followers on LinkedIn, launching EV Hotel, and also being invited to speak at conferences.
Ken Patel, the owner of the EV Hotel, was interviewed about his journey to success. He discussed the importance of brand awareness and how they were able to achieve this on a global scale. He then discussed a major mistake they made by not launching their three-star model earlier and how this has impacted the number of hotels they have now. He also discussed the challenges they are currently facing, such as raising capital for corporate locations and potentially needing one person to believe in the brand in order for others to follow. He noted that the last major change in the hotel industry was from 19 inch television to 42 inch television. Finally, he recommended that listeners go to getbillsgift.com to learn the principles of developing a mindset of mastery, executing a core growth strategy, and leveraging high performance teams.