Paresh “Pete” Patel, CEO of Promise Hotels, confirmed that his company expects to close at the end of this week on a $2.525 million acquisition of a 103-room Microtel in Expo Square.
Patel said they expect to begin renovations on the 17-year-old hotel early next year and that there’s a “good possibility” that Promise Hotels will build a second hotel close to the Microtel in the near future.
Patel also operates eight hotels in northeast Oklahoma and is currently building a Hampton Inn in Downtown Tulsa.
