Washington DC, May 6, 2013:  Jay Patel, CEO/CFO of Asha Companies, is pleased to announce the purchase of 10 new hotels consisting of 860 guest rooms located within North Dakota, Montana, Wyoming, and Texas.  Asha Companies’ focus with these hotels is on the Energy Shale areas and we have contracted with Hospitality Management Corporation (HMC) for management of the properties.  HMC is slated to transition the properties under HMC’s management umbrella within the coming weeks.

Jay Patel and Leo Spriggs, President/CEO of HMC, have been working hand in hand to insure both companies are aware of each other’s shared vision for the future.  “We at Asha love the compassion, integrity and loyalty exhibited by HMC and I have absolute faith and confidence in Leo and the HMC team.  I am ecstatic to share with equal focus the value both companies place on the Human Factor,” said Jay.   “We are very excited about this venture and feel there is great synergy between the two companies.  Jay’s and Asha’s vision are a perfect match for HMC and both companies have been keenly focused on the energy shale areas for some time now,” said Spriggs.  Patel added, “We want everyone associated with us to be the most successful in life that they can be and we will help them achieve this goal.”

Asha Companies will be transitioning to the name, “Building Asha Companies”, as we truly want to be known as a company that is “Building Hope, as “Asha” in all essence means “Hope” in many parts of the world,” said Patel.

"We find that many of the shale developments are lacking compassion for local citizens and in some cases the existing philosophy has been to build in a fashion that allows for making the fastest buck possible while disregarding the need and desires of local citizens.   At Asha we believe it is just as lucrative to be a responsible developer and an exemplary corporate citizen, all while contributing to an improved quality of life for those living within the communities we invest in," said Jay.

"Our Development projects include a plethora of quality, high density residential, retail, movie theaters, bowling alleys, upscale retail and much more to attract families to move and settle down into these communities," said Colin Porter, an Asha Principal and President of Development and Acquisitions.

Colin and Asha Companies are committed to Commercial and Residential Development in the Energy Shale Markets and believe it is important for anyone investing in these markets to be well versed globally on energy. "DREEX" is a term Colin has used to label existing and future dynamics for at least the next 15-20 years in these markets – “Durable Rapid Economic Expansion: - this is NOT a boom or bubble, it's the new way of life for generations to come,” says Colin.

"We also have to praise and thank Tom Roflstad, Executive Director of Williston Economic Development, for being the most informed Ambassador on behalf of the State of North Dakota and his relentless and aggressive pursuit of Asha Investing in North Dakota, which led to a much more in depth view of the Bakken and long term opportunities for us," said Jay.

Ashish Patel, also a Principal in Asha, is the “guru” of the group when it comes to Texas, Louisiana, Colorado and Wyoming, and is also a principle and tone setter of another Asha subsidiary - Texas Shale Investments.

"We have committed capital of $500M for the remainder of the year to invest in real estate projects for this sector and an additional $250M of committed capital acquisitions for key market “Trophy Assets” to balance our portfolio.  Thus far our acquisitions have been all cash with many closings occurring within 30 days," said Jay.  "We believe we will expand our portfolio of properties to around 3,000 guest rooms or more by year end," Colin added.

“Building Asha” Companies was founded in 2006 as a Real Estate Development and Asset Management Company launched by Jay Patel, Colin Porter, Ash Patel and Amit Patel.  The company was established to develop first class experience focused mixed use centers that look beyond the currently successful “Town Center” models.  Asha is also pursuing investments in multi-family, retail, food and beverage, mix-use entertainment and acquisitions with enhancements development opportunities.

Asha Telecommunications - is a new venture that consists of providing the latest and greatest fiber optic infrastructure, repositioning of struggling cable companies and massive data centers in the 12 energy shale states.  Asha Telecommunications has $125M of capital available in 2013 for equity investments.

Asha Discovery - is a new venture recently formed to invest in oil and gas field prospects, water projects, recycling and re-use of drilling waste, and heavy equipment rentals.  Asha just closed its first deal on an 110,000 acre prospect in Texas and is close to completing a 600,000+ acre prospect in the Bakken.  Asha Discovery has $150M of capital available in 2013 for equity investments.

Asha is why we are still here and we want to strive to do so much good that it eventually drives the most pessimistic to believe in Asha!

About HMC
Hospitality Management Corporation (HMC), founded in 1971, is a privately owned hotel management company, and is one of the oldest independent hotel management firms in the lodging industry.  HMC is an approved operator of most major franchise brands as well as a proven operator of independent non-franchised assets.  HMC has a proven record of successfully operating a diverse range of assets including resorts, convention hotels, boutique assets, extended stay hotels, and other unique assets.  For over four decades, HMC has provided hotel management services for institutional and private owners.  The company’s headquarters has been located in Dallas, Texas since its inception.