San Diego, CA
Dr. Bharat Lall acquired his first property in 1989 and went on to found Pinnacle Hotels USA in 1998. The Holiday Motel, Dr. Lall's first property, was a 12-room motel situated just blocks from the U.S. Navy base in San Diego, California. At the time a practicing physician, Dr. Lall saw the $450,000 motel as an investment. In the early days of the Holiday Motel, Bharat Lall worked full-time as a physician by day and as a staff member at his motel in the evenings.
In 2009, Bharat Lall's corporation, Pinnacle Homes USA, purchased Marriot Riverside for $19.3 million. Having come a long way since his first acquisition, Dr. Lall feels the deal offered a bargain price considering the capitalization rate on adjusted 2009 earnings. The acquisition comes on the heels of stint since 2006 in which Pinnacle Homes USA was a net seller. During that time its portfolio went from 23 hotels to 6. Dr. Lall's business acumen has helped ensure the continued resilience of Pinnacle Homes USA, no matter the market climate.
Since his early days as staff at the Holiday Motel, Bharat Lall, MD, has become a millionaire mogul of the hospitality industry. He lives with his family in La Jolla, California, and stays active in his community as a member of the San Diego Indian American Society. He also donates to the Mahatma Gandhi Scholarship Trust Fund to help support talented Indian-American high school students.