Promise Hotels
How we got $2.5M
Based on typical figures for its industry (2022 Economic Census), not its own records.
What we know
Signs of a sale Unlikely to sell soon
- In business 18 years (since 2008)
From public records and the company's website, not a statement that it's for sale.
What they do
Promise Hotels is a privately owned hotel development and hospitality management company that provides management services and investment opportunities in the mid-scale market.
From the company's website. Industry: Hotels & motels.
Customers & suppliers
Suppliers & brands
- Hilton · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- BROTHER & COMPANY · Tulsa, 8 mi · $27.3M
- NICHOLS GROUP PR-ADMINISTRATION, LLC · Tulsa, 6 mi · $18.6M
- HICORP, INC · Tulsa, 6 mi · $16.0M
- DISTRIBUTECH LLC · Tulsa, 6 mi · $15.7M
- LITTLEFIELD, INC · Tulsa, 6 mi · $11.7M
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| Promise Hotels this business | $1.9M | — |
| Clarion Inn Tulsa International Airport Tulsa | $1.9M | 0.0 mi |
| Home2 Suites by Hilton Tulsa Airport Tulsa | $1.9M | 0.0 mi |
| Hilton Garden Inn Tulsa Airport Tulsa | $1.9M | 0.1 mi |
| YOGIJIKRUPA HOSPITALITY-E LLC Tulsa · 11 employees | $1.5M | 1.8 mi |
| Rest Inn and Suites Tulsa | $1.9M | 1.8 mi |
| OYO Townhouse Tulsa Airport & Fairgrounds Tulsa | $1.9M | 1.8 mi |
The full calculation
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $2.5M |
| Multiple for this size and industry | 4.9× |
| Value range | $808K – $3.8M |
This business has no PPP loan on record, so there is no business-specific data. The figures are the typical estimated revenue of Traveler Accommodation businesses in our Oklahoma data: the middle value, with the range covering the middle half of those businesses. EBITDA applies the industry margin (28%). Treat these as a rough guide.
| Revenue range | $749K – $2.4M |
| EBITDA range | $206K – $650K |
| Industry (NAICS) | Traveler Accommodation (7211) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. These are statistical estimates, not reported financials. Listing details come from Overture Maps open data. Full methodology
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Promise Hotels
Promise Hotels is a hotels & motels company in Tulsa, Oklahoma, in business since 2008. It is owned by Pete Patel (President & CEO). Its estimated annual revenue is about $1.9M, with roughly $510K of EBITDA. Its estimated business value is $2.5M (likely range $808K–$3.8M).
Common questions
- Who owns Promise Hotels?
- Promise Hotels is owned by Pete Patel (President & CEO), according to public sources such as the company's website or filings.
- How much revenue does Promise Hotels make?
- SeeBITDA estimates Promise Hotels's annual revenue at about $1.9M (likely between $749K and $2.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Promise Hotels worth?
- About $2.5M, roughly 4.9× its estimated EBITDA of $510K, typical for a hotels & motels company its size. Likely range: $808K–$3.8M.
- When was Promise Hotels founded?
- Promise Hotels has been in business since 2008.