Knowledge is power, especially when it comes to the decisions around franchising a hotel. Which segment of hotel, what location, new build or conversion, financing — there are a million decisions that go into a move of this magnitude, and knowing as much as possible about each step is the key to the success of the entire project.

But this knowledge can be hard to come by, especially because it combines a mix of traditional financial and industry knowledge, market analysis and property valuation understanding and more as well as the right relationships with bankers and others to actually get the deal done.

It’s not an easy process, but preparing beforehand and continuing to learn throughout will make it easier and will help you close the deal – in a way that’s favorable to you.

EDUCATION CHAMPION

Trusha Patel, founder and CEO of Platinum Holdings Corp., has been involved in the hotel industry her entire life. Her first foray into the financial side of the business came when she was 17 years old and she played a pivotal role in establishing her father’s first branded hotel — a significant transition from his ownership of three independent properties.

Today, Platinum Holdings is real estate private investment firm that has successfully designed, constructed, and managed over 5 million square feet of lodging and mixed-use projects, encompassing more than 2,000 rooms across all lodging tiers.

Patel also serves as the managing member for Capital City Hospitality Group, which owns and operates branded and independent hotels throughout Texas, is a licensed real estate broker, serves on the board of directors for the Austin Hotel and Lodging Association and is a lifetime member of the Asian American Hotel Owners Association.

She also has been a lifelong proponent of professional education, especially for women, and is dedicated to sharing her hard-won knowledge.

“I am acutely aware that female hospitality developers are a rarity — only one in 10. In the institutional space, minority and women representation is even scarcer, making up less than 2%. This reality fuels my determination to leave a legacy and impact,” Patel said. “I am committed to not only owning my space in this industry but also paving the way for other women who aspire to follow this path. Breaking barriers is never easy, but it is our responsibility to uplift and empower the next generation. My experiences have solidified my belief in fostering opportunities and mentorship for future leaders, ensuring that more women can claim their place in hospitality development.”

Patel’s education in the hospitality industry has been shaped by a combination of hands-on experience, strategic networking and a deep commitment to continuous learning. 

“I actively attended conferences and networking events, but I also made it a point to think beyond conventional spaces — immersing myself in my own communities and engaging with professionals across different sectors,” she said. “Success in this industry is built on relationships, and I firmly believe that the connections you cultivate today will become invaluable in the future.”

One of the most important lessons she’s learned is the power of building a diverse and expansive network, what she calls a personal Rolodex that spans all facets of the hospitality sector. 

“You never know when paths will cross or when an opportunity will arise from a relationship nurtured a year prior,” she said. “Equally important is the principle of giving back without expectation. I believe that generosity — whether through mentorship, guidance or support — creates a positive ripple effect. Good karma, combined with surrounding yourself with like-minded, driven individuals, fosters an environment where success is not only attainable but sustainable.”

Patel refers to this approach as the “ecosystem of success,” a space where you align yourself with those who reflect your aspirations and values. 

In terms of formal education, Patel was intentional about removing that as a limiting factor, earning two master’s degrees to ensure that her academic foundation would not be a barrier to her growth. However, a lack of knowledge in certain areas has been an ongoing challenge, one that she continuously works to overcome.

“Knowledge is ever evolving, and staying relevant in any industry, especially hospitality, requires an openness to continuous learning. There have been moments where I found myself in unfamiliar territory, whether it was navigating institutional investments, adapting to new technologies or understanding emerging market trends. Instead of seeing these gaps as setbacks, I viewed them as opportunities to refine my expertise,” she said. “My approach has always been to surround myself with experts and industry leaders, seeking mentorship, engaging in meaningful conversations and remaining a student of my craft. I actively attend industry conferences, absorb insights from those ahead of me and remain adaptable to new strategies and innovations.”

For women in particular, gaining education and industry knowledge is not just about personal success, it is about creating pathways for future generations and breaking systemic barriers, according to Patel.
“Women must be equipped with both education and industry expertise to claim their rightful place in leadership. In hospitality, as in many industries, women are underrepresented in executive and ownership roles. By acquiring knowledge and continuously refining their skill sets, they position themselves to lead, influence and drive meaningful change,” she said. “Beyond individual success, education empowers women to build scalable, sustainable businesses. Women who invest in their education and professional development gain not only the expertise to navigate their industries but also the confidence to innovate, take risks and mentor the next generation.

“Knowledge is power, and for women, it is the key to fostering equity, expanding opportunities, and proving that leadership has no gender boundaries. By investing in education and remaining lifelong learners, we pave the way for a more inclusive and diverse future in hospitality and beyond.”

CRACKING THE CODE

For women seeking formal education and industry knowledge, Patel’s advice is to pursue learning that aligns with both their professional goals and personal fulfillment. 

“Whether through traditional degrees, executive programs, certifications or industry-specific training, investing in education is an investment in yourself. More importantly, learning does not stop in the classroom. Staying engaged with industry events, networking, and seeking mentorship are just as crucial as formal education,” she said. “Equally important is embracing failure as part of the learning process. Some of the most valuable lessons come from setbacks. Failure is not the opposite of success — it is a necessary step toward it. Every challenge, every misstep, is an opportunity to refine your skills, adapt, and grow stronger. The key is resilience, continuous learning and surrounding yourself with people who challenge and inspire you.”

Ultimately, according to Patel, women should view education and knowledge as tools that empower them to take control of their careers, make informed decisions and carve out their own paths. Success is not just about professional milestones, she said, it is about finding joy and fulfillment in the journey.

However, informal education is just as powerful as formal learning, and much of our growth comes from the people we surround ourselves with, according to Patel.

“One of the most important things women can do for their personal and professional development is to be intentional about their social circles. Seek connections with those who share your passion, values and thought process,” she said. “Observing, listening, and engaging in meaningful conversations can provide insights that no textbook can offer. Be open to learning from different perspectives but also be mindful of where and with whom you spend your time. Energy is contagious — surround yourself with people who uplift, inspire and challenge you to be better.”

According to Patel, recognizing that not everyone has your best interests at heart is an important part of navigating business relationships successfully. Learning to deal with that also should be part of your continuing education.

“Approach negativity with a sense of neutrality and understanding. Toxic behavior often stems from deeper personal struggles. Instead of reacting, take a step back, assess the situation, and recognize the underlying factors at play. This mindset not only keeps you grounded but also helps you navigate complex social and professional environments with emotional intelligence,” Patel said. “Ultimately, maintaining a balanced and open mindset allows you to adapt to an ever-changing world. Continuous learning isn’t just about acquiring new skills — it’s about refining your ability to think critically, engage with the right people and create an environment that fosters success and happiness.”

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LINKS TO HOSPITALITY EDUCATION SOURCES

AHLA Foundation’s ForWard Initiative

She Has a Deal
AAHOA HerOwnership
American Hotel & Lodging Educational Institute
eCornell
Hospitality Sales & Marketing Association International
Jonathan M. Tisch Center of Hospitality at New York University
EHL Hospitality Business School
U.S. News & World Report listing of U.S. colleges that offer hospitality majors
Women’s Hospitality Initiative
Women Leading Travel & Hospitality
Women in Tourism & Hospitality