From senior roles at InterContinental Singapore, graduate Paavan Patel has joined the owning company as Assistant Vice President - Asset Management.
Graduate Paavan Patel’s appointment to the position of Assistant Vice President - Asset Management at Frasers Hospitality Trust is his first outside of hotels.
Paavan was Director of Rooms and previously Director of Revenue Management at InterContinental Singapore. Paavan moved to Singapore from the role of Director of Revenue at The Westin Kuala Lumpur to help boost performance after the property had undergone a major renovation. The move to Singapore came at the instigation of Frasers Hospitality Trust, owner of InterContinental Singapore and The Westin Kuala Lumpur.
Before that he was with Hyatt Hotels Corporation, more recently as Revenue Manager and before that as Assistant Front Office Manager at the Grand Hyatt Kuala Lumpur. This, following a move from Singapore, where he was Assistant Manager - Front Office Grand Hyatt Singapore.
Frasers Hospitality Trust, the first global hotel and serviced residence trust to be listed on the Singapore Exchange, holds a geographically diversified portfolio of assets in prime locations across nine cities in Asia, Australia and Europe, with a combined value of S$2.40 billion.
Paavan is primarily responsible for maximising the operating and financial performance for a portfolio of assets comprising hotels and service residences, including cash flows and profitability, strategic planning and analysis.
‘Having managed hotels in operational and commercial roles in the past, my new role gives me the opportunity to manage them from a real estate asset and investment aspect. Apart from being responsible for improving cash flows and the operational and financial performance, I am also responsible for all aspects of asset redevelopment and asset enhancement from ROI analysis, designer and consultant selection to acting as the lead project manager.
‘My new role also involves liaising on matters pertaining to legal, taxation and valuations. I believe that this role completes me as I now have experience of having managed a hotel’s operational and commercial aspect as an operator and from a real estate investment aspect as an owner/fund manager.
‘ICHM taught me that learning is critical. Persistence and motivation may keep you pushing forward, but curiosity to learn will keep you moving in a positive direction.
Indian-born and educated, Paavan travelled extensively throughout Asia when he was young.
Before coming to ICHM, where he studied from 2002 - 2006, Paavan had worked in India in a property owned by his uncle, so he was fast-tracked into the second year. His first placement was at the Adelaide Convention Centre and his second was at Katherine in the Northern Territory. The hospitality natural also spent a year at the Crieff Hydro Scotland, where he started in Food and Beverage but was promoted to Front Office within a short period.
He had worked part-time at the Hyatt in Adelaide while finishing his degree, and fellow graduate Dharmik Kumar was on the interview panel when Paavan got his start - when he successfully applied for the Front Office role at the Grand Hyatt Singapore.
His advice: ‘Work hard and never say no to learning something new! Make sure that you have a dream and the courage to pursue it, as you will be so much more ready than you think. And do not forget the three golden words: Network, network network!