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Dotcom millionaire who lives in a hotel

By Eoghan Macguire, for CNN
updated 9:13 AM EDT, Thu May 24, 2012
Neil Patel is a 27-year-old tech millionaire who lives in a Seattle hotel. Neil Patel is a 27-year-old tech millionaire who lives in a Seattle hotel.
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The millionaire who lives in a hotel
The Hyatt at Olive 8
Cooking up a storm
Room with a view
Spa and swimming pool
Early morning exercise
Coffee mornings and business meets
Events and conferences
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STORY HIGHLIGHTS
  • Neil Patel is a dotcom millionaire who lives in the Hyatt Hotel in Seattle
  • He says living in a hotel suits his hectic work schedule
  • Patel holds business meetings and conferences on the hotel premises

(CNN) -- As a serial entrepreneur and dotcom millionaire, Neil Patel can afford to be picky about his choice of luxury residence.

But instead of a country mansion, penthouse apartment or gated community in the suburbs, the founder of internet start-ups KISSmetrics and Crazy Egg has set up home in a location he says best suits his hectic work schedule -- the Hyatt Hotel in downtown Seattle.

"I bought a place in a hotel because its convenient for me," says the 27-year-old, who often finds himself working more than 70 hours a week.

I don't know how to cook or clean and I make more money if I focus on work rather than on the other stuff in life.
Neil Patel

"I don't know how to cook or clean and I make more money if I focus on work rather than on the other stuff in life. Staying in a hotel where all these things are provided enables me to do that," he adds.

See also: High-tech hotels a hit with geeky guests

Patel has become accustomed to life on the road in recent years. He says in the later part of the last decade he spent as many as 50 weeks a year traveling to promote his business interests, which meant staying in hotels.

But he adds that the complimentary services afforded him in these places enabled him to work longer hours and focus more on growing his companies.

So when he moved move to Seattle in early 2009, Patel decided to make his home in a luxury apartment that is part of the Hyatt at Olive 8 complex -- letting him transfer the best aspects of this nomadic lifestyle to his permanent residence.

Although situated on a different floor from the hotel's short-term guests, Patel still has access to all the amenities and services provided to the regular guests.

"You can get room service, you can get maid service, there's a restaurant and a bar downstairs, there's even little cafes and coffee shops," says Patel.

"In addition to that you've got all the gym stuff, there's a full service spa, steam room saunas and a swimming pool as well," he adds.

Patel describes his own hotel abode as a compact luxury environment, without being too ostentatious

"There is a living room, bathroom, bedroom and a kitchen," he says, and the place is "wired-up" to host the latest electronic devices. There is even a TV in the bathroom, he adds.

He declines to say how much the property cost him but reveals there is a penthouse suite not far from his own apartment that is available for between $4 million and $5 million.

See also: Marriott mogul on 55 years in hotel business

Let's say I have a lunch meet, I can just do it downstairs ... I can do my business meetings there, my coffee meetings there.
Neil Patel

But whilst enthusiastic about the lifestyle facilities hotel life offers, Patel is equally positive on the hotel's ability to double up as a business base if necessary.

He says this enables him to work from home if he chooses, as well as meet and greet clients or business partners on the premises, meaning no valuable time is wasted traveling.

"Let's say I have a lunch meet, I can just do it downstairs," says Patel. "I can do my business meetings there, my coffee meetings there.

"We have meeting rooms for businesses. We have small ones and we have medium ones and we even have grand ballrooms where we can have conferences."

"Me and my buddies have actually thrown a conference in the hotel and we have fitted 100-plus people in one of their smaller rooms," he adds.

See also: Why are we still paying for hotel Wi-Fi?

But while supremely content with these services, Patel understands that a hotel will never be the perfect home environment for everyone.

"Of course, it's harder to raise a family there as you're not going to get a really huge place (and) if you don't like living in the city there is much more noise," he says.

For a young millionaire with an unshakeable focus on working life, however, "there really aren't that many drawbacks," he adds. "For a guy like me, it's ideal."

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