From Econolodge to lifestyle visionaries
The Wayback, Tribute Portfolio, Pigeon Forge, TN
By Yvette Jong, Principal, Craft House Consulting February 4, 2025
The untold story of the continuing rise of next-gen Indian American hotel ownerSHIP
NATIONAL REPORT – When I first met Mahavir and his brother, Dev, they were preparing to develop their first new-build lifestyle hotel in Gatlinburg, Tennessee—a market better known for pancake houses, Dolly Parton, and rustic motels than cutting-edge hospitality. It wasn’t the typical setting for a bold hospitality venture, but that’s what made it interesting.
These projects in the lifestyle space demand creativity, foresight, and a nuanced understanding of hospitality’s evolving landscape. While Mahavir and Dev may not have had years of experience in the lifestyle space, they stood out in other ways. Despite being barely 30, they had an open mind, a creative vision, and the grounded pragmatism of those who grew up in the trenches of the hospitality business. They approached the project with humility, a willingness to learn, and a clear determination to make their mark.
Their journey, like so many other second-generation Indian American hotel owners, reflects a larger story of grit, innovation, and evolution. Their father, Bobby, began his own path to hotel ownership after moving from Mumbai to Tennessee in the 1980s. Determined to build a life in the U.S., Bobby rolled up his sleeves and learned the hotel business from his uncle, who owned an Econolodge.
Bobby started at the bottom, doing everything from maintenance to housekeeping to front desk operations, before managing a 100-room Econolodge. In 1992, ready to invest in his first hotel and with his first child, Mahavir, on the way, Bobby and his wife borrowed money from family, moved into a single hotel room, and managed their independent motel 24/7.
Every dollar of profit went back to repaying their loan. Over time, their one-room living arrangement behind the front desk grew to three, as the business (and their family) slowly expanded. But Bobby’s story wasn't unique. What was happening in his corner of Tennessee—families pooling resources, sharing responsibilities, and teaching the business to Indian American families —was happening across the US. Today, Indian American families own more than 55% of hotel rooms in the country. Yet, Indian American hoteliers have rarely been recognized as innovators. Meanwhile, India has produced some of the most visionary hospitality brands in the world—Taj, Oberoi, The Leela—known for world-class service and guest centric innovation.
Still, Bobby didn’t want his kids in hotels. Like many Asian American parents (and I can say this from personal experience), hotel ownership was not part of the “golden trio” of careers—doctor, lawyer, engineer. Mahavir initially set his sights on becoming a chef but pivoted to supply chain and general contracting after realizing the odds were stacked against his culinary dreams.
A construction internship at Blackberry Farm—a mere 30 miles from his home, but a far cry from the Econolodges of his youth—changed everything. At Blackberry Farm, Mahavir saw hospitality in a new light—elevated, experiential, and rooted in storytelling. It wasn’t just about heads in beds; it was about crafting something memorable. Mahavir was hooked and decided he wanted to transform his family’s legacy.
When Mahavir announced his plans to take over the family business, Bobby had one piece of firm advice: “Don’t.”
Despite the resistance, Mahavir left his salaried position and shadowed his father for a year, absorbing every detail of the business. His brother, Dev, soon followed in his footsteps. Slowly, they earned the trust of their family, implementing standardized procedures, revenue management strategies, and accounting systems to build a stronger, more profitable portfolio. But the brothers had bigger ambitions than optimizing operations. Mahavir's experience at Blackberry Farm and their proximity to markets like Nashville and Asheville convinced them that Gatlinburg and Pigeon Forge in Tennessee were ready for a hospitality renaissance.
Mahavir and Dev divested properties that didn’t fit their vision and converted two motels into lifestyle hotels: The Historic Rocky Waters Inn, a 36-room boutique property in Gatlinburg that opened in 2024, and The Wayback, a Tribute Portfolio hotel in Pigeon Forge, a 134-room reimagined motel, which was recently named one of Time Magazine’s Top 100 Places to Visit in 2024.
This accolade wasn’t just validation of their hard work; it was proof that even traditionally overlooked markets could elevate their offerings. They’ve also recognized the value of partnering with global brands like Small Luxury Hotels of the World and Tribute Portfolio for sales and marketing to amplify visibility. At the same time, they understand the importance of maintaining a balanced portfolio. They’re developing a Home2 Suites in Gatlinburg, enhancing it with a resort-style pool to cater to the families who visit the area repeatedly. By balancing lifestyle and premium select-service hotels, they’re ensuring long-term resilience while addressing multiple market needs.
When I met Mahavir and Dev two years ago, they were already planning The Scoundrel, a new build Tribute Portfolio hotel in Gatlinburg—a bold step for a market previously defined by limited-service properties.
Alongside this, they launched their boutique investment company, Aatmos—a boutique investment house that owns, develops and manages its properties. The name itself is a reflection of their approach. Inspired by “aatma,” the Hindi word for soul, and “ethos,” the characteristic spirit of a culture, Aatmos is built on the idea of connecting the heart of a destination with authentic expressions of its essence to bring elevated hotel experiences to life.
I joked that the grandchildren both Mahavir and Dev had when I met them were a distraction tactic to keep their parents busy while they reimagined the Aatmos portfolio, and Mahavir laughed. But in reality, they weren’t just reimagining a portfolio—they were helping shape the next chapter of Indian American hotel ownership.
For too long, Indian American hotel owners have been pigeonholed as “Super 8 operators,” a lazy and inaccurate oversimplification that fails to recognize their innovation, success and contributions to the American hotel industry. Families like theirs are redefining what it means to be a hotelier, proving that they are not just operators but visionaries.
Mahavir and Dev are part of the next generation proving that hoteliers aren’t defined by brand categories or outdated perceptions—but by vision, adaptability, and the ability to create meaningful guest experiences. They’re blending financial discipline with bold creativity, taking the pragmatism that built their families' success and applying it to a new era of hospitality. And they’re not alone.
We’re working with more and more second-generation families—owners who are ready to evolve, rethink their strategies, and push beyond traditional hotel models. They see the opportunity to create something different, and they’re embracing it with the same drive that built their families’ success in the first place.
This isn’t just an Indian American success story—it’s a hospitality success story. And it’s only just beginning.