Business / The Desi Dollar: South Asians Reshaping Real Estate & Hospitality In North America

The Desi Dollar: South Asians Reshaping Real Estate & Hospitality In North America

Business Jun 16, 2025

by Tushar Unadkat | Features Editor - Business

From modest beginnings in roadside motels to commanding a significant share of North America’s real estate and hospitality sectors, South Asian entrepreneurs, particularly those of Indian and Pakistani descent, have emerged as influential players. Their journey reflects a blend of resilience, community collaboration, and strategic investment, transforming them into key stakeholders in commercial real estate, hotels, and development projects across the continent.

A Legacy Built on Hospitality

The narrative of South Asian dominance in the U.S. hospitality industry is compelling and inspiring. As of 2022, the Asian American Hotel Owners Association (AAHOA) reported that its approximately 20,000 members own about 60% of the hotels in the United States. This remarkable statistic underscores the community’s significant footprint in the sector.

The foundation of this dominance was laid in the 1970s when Indian immigrants, often from Gujarat, began acquiring and operating motels. Facing discrimination and limited access to financing, these pioneers relied on familial networks and community support to purchase and manage properties. Over time, their efforts transformed distressed motels into profitable ventures, setting the stage for future generations to expand into larger hotel chains and upscale establishments.

Key Voices From The Hospitality Industry

The Gupta Group (Steve & Reetu Gupta, Canada)

Steve Gupta (Dr. Suresh “Steve” Gupta): Emigrated from Punjab in 1971 with only CAD 108, began in insurance, then built Easton’s Group of Hotels and The Gupta Group. Today, it owns 15+ hotels across Ontario and Quebec under Hilton, Marriott, and InterContinental Hotels Group banners, and it leads mixed-use condo developments like King Blue and the first Canadian Canopy by Hilto.
Reetu Gupta: Steve’s daughter and President & CEO. Holds an MBA from Schulich, led expansion into real estate in 2012, was named one of Canada’s Top‑40 Under‑40 (2017), and was recognized by the Indo‑Canada Chamber of Commerce as “Entrepreneur of the Year”.

The Group emphasizes guest-centric innovation – dual-brand hotels, digital keys, community engagement, and philanthropy.

Dr. Ruby Dhalla (Dhalla Group, USA/Canada)

Former Canadian MP and hotelier, Dr. Ruby Dhalla is CEO & President of Dhalla Group. In 2024, she received AAHOA’s “Outstanding Woman Hotelier of the Year” award, becoming the first woman of Indian origin to earn this honor.
Her leadership blends advocacy for women in hospitality with operational excellence across a growing hotel portfolio.

Sant Singh Chatwal & Vikram Chatwal (Dream Hotel Group, USA)

Sant Singh Chatwal: Founder and chair of Dream Hotel Group (formerly Hampshire Hotels & Resorts), known for boutique luxury brands like The Chatwal and Dream Hotels. Awarded India’s Padma Bhushan, which had a significant influence on New York’s hotel scene.
Vikram Chatwal: Son of Sant, Wharton grad, actor and designer, turned hotelier. Created the Time Hotel and revitalized NYC boutique hotels like Dream Midtown.

Diversification Into Commercial Real Estate

Beyond hospitality, South Asian investors have made significant inroads into commercial real estate. In cities like Brampton, Mississauga and Milton (Ontario), South Asian developers have been instrumental in transforming neighborhoods by developing shopping plazas, office complexes, and mixed-use buildings. These ventures not only cater to the needs of the growing South Asian population but also contribute to the broader economic vitality of the regions.

Image Credit: bluebay2014 from Getty Images

In the United States, South Asian developers are increasingly involved in large-scale projects, including residential subdivisions, commercial centers, and urban redevelopment initiatives. Their approach often emphasizes community engagement, cultural sensitivity, and sustainable development practices.

Economic Impact & Community Development

The economic contributions of South Asian-owned enterprises are substantial. According to a study by Oxford Economics, Indian American-owned hotels alone contribute approximately $368.4 billion to the U.S. GDP and generate around $100 billion in federal, state, and local taxes. These figures highlight the significant role of South Asian entrepreneurs in job creation, tax revenue generation, and overall economic growth.

Moreover, the success of these ventures has facilitated philanthropic endeavors, community development projects, and support for educational initiatives within the South Asian community and the broader society.

Key Voices From The Commercial Real Estate Industry

Industry experts acknowledge the strategic acumen and community-oriented approach of South Asian investors. Jaimin Patel, Vice President of Hospitality Real Estate Counselors, notes, “The evolution from roadside motels to mainstream hospitality has been significant. The second generation is more progressive and educated about the market, expanding their scope and capabilities”.

Similarly, Ketan Patel, Senior Vice President at HREC, observes, “Many players in the current generation are turning their sights to full-service assets. It’s happening slowly but steadily”.

Here are profiles of some key South Asian real estate leaders in North America:

Bob Singh Dhillon (Canada)

Who he is: Founder & CEO of Mainstreet Equity Corp, Canada’s only publicly traded Sikh-owned real estate company.
What he’s built: Manages ~16,000 multi-family rental units across Western Canada; developed a tourist resort in Belize.
Impact & achievements:
- The first Sikh billionaire in Canada was named an Officer of the Order of Canada for business and philanthropy.
- Donated CA$10 million to the University of Lethbridge; supported housing refugees from wildfires, Afghanistan, and Ukraine.
- Holds ~20 % of the rental market in key BC regions like Surrey and Abbotsford.

Anita Verma‑Lallian (USA)

Who she is: CEO and founder of Arizona Land Consulting and Camelback Productions.
Notable deals:
- Brokered large-scale land acquisitions in Arizona: $20M for 131 acres in Buckeye, $40M for 600 acres in Casa Grande.
- In 2024, actor Matthew Perry’s Pacific Palisades estate was purchased for US$ 8.55 M.
Accolades: Named by AZ Business and Commercial Executive among top women leaders; her CRE firm recognized as a “Real Estate Company to Watch” in 2022.

Ahmad Adaya (USA, †2006)

Who he was: Migration from Gujarat to Pakistan and then the U.S.; founder of IDS Real Estate Group in Southern California.
Legacy:
- Pioneered leasing of industrial properties and owned the Shangri‑La Hotel in Santa Monica.
- Philanthropist: co-founded the New Horizon School; funded art exhibits and medical research fellowships.

Sandeep Kuttiyatur & Rashmi Jagada – SKRJ Properties (USA)

While high-profile coverage is limited, SKRJ Properties – helmed by Sandeep Kuttiyatur and Rashmi Jagada – is known for its strategic investments in U.S. commercial leases and retail-centric plazas, particularly in regions with sizable South Asian communities. Their focus on plazas in suburban hubs mirrors broader diaspora investment patterns.

ASARP – Association of South Asian Real Estate Professionals

What it is: A North American network empowering South Asian real estate professionals across residential, commercial, hotel, and investor sectors.
What they do:
- Offer education (webinars, seminars), legal workshops, advocacy, and EB‑5 investor support.
- Host networking events such as monthly meet-ups and annual leadership conferences.
Why it matters: ASARP strengthens South Asian representation in real estate, promotes best practices, and offers a unified voice in policy and investment discussions.

These profiles spotlight the scale and impact of South Asian-led ventures – from Mainstreet’s thousands of units and transformative land deals to industry advocacy via ASARP. Together, they redefine North America’s hospitality and commercial sectors.

Why They Matter

These hoteliers exemplify the “Desi Dollar” shift – capturing market share via strategic acquisitions, brand partnerships, and community-driven service. From Steve Gupta’s contrarian growth in Canada to Ruby Dhalla’s trailblazing leadership and the Chatwals’ boutique ventures in New York, they highlight a broader South Asian impact reshaping North American hospitality.

Looking Ahead

The trajectory of South Asian involvement in North American real estate and hospitality sectors suggests continued growth and diversification. With a strong foundation built on community values, entrepreneurial spirit, and strategic investments, South Asian entrepreneurs are poised to further influence the landscape of these industries.

As they expand into new markets and sectors, their contributions will likely play a pivotal role in shaping North America’s economic and cultural fabric. Real Estate and Hospitality

Feature Images: Allkindza from Getty Images Signature

Tushar Unadkat | Features Editor - Business

Author

Internationally celebrated, award-winning media personality and author of several business and lifestyle articles, Tushar Unadkat, is the CEO, Creative Director of MUKTA Advertising, Founder, and Executive Director of Nouveau iDEA, Canada. He holds a Master of Design from the University of Dundee, S...

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