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HOTEL INVESTMENT AND management company Banyan Investment Group announced the initial closing of $20 million Banyan Lodging Enhanced Value Fund, also known as BLEV or "Believe." The fund gives investors an opportunity to purchase hotels that have been impacted by the COVID-19 pandemic, a statement said. The group said that the first Closing delivered more than half of capital sought to acquire pandemic-impacted hotels. According to prospective investors, BLEV will reach its $35 million hard cap early next year, well before the formal end of its offering period. "The hospitality industry continues to reel from the COVID pandemic and its uneven recovery, and many markets continue to suffer from a sustained, record decline in hotel performance, a lack of liquidity in the capital markets and value dislocation," said Andy Chopra, managing partner and CIO at Banyan Investment Group. "We believe the impact caused by the pandemic has created a number of investment opportunities, ranging from newer assets selling at below replacement costs to discounts resulting from owners facing liquidity crises. BLEV will take advantage of these prevailing headwinds as we move further into a post-pandemic world." The fund will be used to form joint venture partnerships with institutional investors and/or syndicates of retail investors, with a total investible equity in the range of $350,000,000. The BLEV will focus on high-barrier-to-entry hotel locations, targeting properties with significant discounts and expects to deliver superior, risk-adjusted returns for investors when the hospitality industry re-stabilizes.

The Clarion Pointe in Statesville, North Carolina, is now open. It is owned by Shrina, Inc., led by Tika Shah and Jigar Majmundar. It also is the 25th hotel to open for Choice's relatively new midscale select-service brand. The 104-room Clarion Pointe Statesville is near Lake Norman, the Charlotte Motor Speedway, local breweries and the Blue Ridge Mountains. Amenities include an outdoor pool and a fitness center. The hotel is pet friendly. Other Clarion Pointe hotels have recently opened in Franklin, Tennessee; Rock Hill, South Carolina; and Beckley, West Virginia, and additional openings are expected this year in Tallahassee, Florida; Salt Lake City, Utah; and Syracuse, New York.

U.S. HOTEL PERFORMANCE improved in the first week of October due to school breaks and extended holiday weekend, but the performance was mixed when compared to 2019, according to STR. Hotel performance during weekdays declined due to Yom Kippur as expected. Post-Hurricane Ian demand in Florida also boosted the performance. Occupancy was 68.2 percent for the week ending Oct. 8, up from 66.4 percent the week before and decreased 3.5 percent from 2019. ADR was $153.79 during the week, increased from $149.71 the week before and up 16.9 percent from three years ago. RevPAR reached $104.83 in the first week of October, up from $99.36 the week before and increased 12.8 percent from 2019. Orlando reported the highest occupancy increase among STR's top 25 markets, up 1.9 percent to 73.6 percent, over 2019.

U.S. HOTEL PERFORMANCE dropped in the fourth week of October compared to the week before, according to STR. When compared to 2019, occupancy increased as a result of the Halloween calendar shift, as the holiday fell during the comparable week three years ago. STR reminded that in the first week of November performance metrics will show the negative side of that shift. Occupancy was 65.8 percent for the week ending Oct. 29, down from 69.9 percent the week before and up 5.2 percent from 2019. ADR was $152.94 during the week, dipped from $157.43 the week before and up 21.4 percent from three years ago. RevPAR reached $100.59 during the week, down from $110.11 the week before and up 27.8 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in each of the key performance metrics: occupancy up 21.5 percent to 76.1 percent, ADR increased 42.1 percent to $158.38 and RevPAR improved 72.5 percent to $120.58, over 2019. Tampa has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

WITH DISNEYWORLD AND Universal Studios as a backdrop, the AAHOA Convention & Trade Show 2024 got under way in Orlando, Florida, Tuesday. The show had just begun but attendees were already feeling excited about the week. "I think that is great, the venue is great, and the turnout," said Raj Patel, CEO of Apsilon Hotels in Atlanta. "This is going to be an excellent show. Looking forward to it." More than 6,000 people registered to attend the trade show with more than 1,000 booths and 520 exhibitors. Keynote speakers included: Kevin O'Leary, businessman, SPAC investor, director of Stream Global Services, chairman of O'Shares ETF Investments and Beanstox. Rashmi Airan, professional speaker and coach, speaking at the HerOwnership Women Hoteliers Luncheon and Session. Rahul Kapoor, mindset coach, motivational speaker and author. "It's going to be a fantastic show. It's going to be some great conversations, good educational seminars too," said Raj Trivedi, former La Quinta Hotels head and now managing principal at TST Capital in Dallas. "Most importantly, it's a lot of fun. I think people are going to have a great time."

Sam Basu is the new general manager for JW Marriott Orlando Bonnet Creek Resort & Spa in Orlando, Florida. Previously he worked at hotels in Puerto Rico. Basu worked in managerial positions at the Ritz-Carlton San Juan for 10 years, including holding the position of executive assistant manager of rooms and F&B. He also worked at Marriott International and St. Regis Bahia Beach, all in San Juan, Puerto Rico. Last week, Kristin Assad was named vice president and general manager at Stockyard Heritage Development Co.'s Hotel Drover in Fort Worth, Texas.

THERE WAS A slight slip in U.S. hotel performance in the third week of October compared to the week before, according to STR. However, numbers improved during the week when compared to 2019. Occupancy was 69.9 percent for the week ending Oct. 22, down from 70.3 percent the week before and down 0.5 percent from 2019. ADR was $157.43 during the week, slightly dropped from $157.52 the week before and up 16.7 percent from three years ago. RevPAR reached $110.11 in the third week of Oct. 22, just dipped from $110.78 the week before and up 16.1 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in occupancy during the week, up 7.4 percent to 75.9 percent and RevPAR, increased 39.2 percent to $117.28, over 2019. It has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

PEACHTREE GROUP BAGGED multiple Marriott Select Brands Awards at this year's Marriott Select Brands Owner & Franchisee CONNECT Conference in Orlando, Florida. The awards recognize hotels for service, innovation and commitment to guest satisfaction. Peachtree is led by Greg Friedman as managing principal and CEO, Jatin Desai as managing principal and CFO and Mitul Patel as principal. "These awards are a testament to the exceptional work our hotel associates deliver every day," said Steve Mackenzie, Peachtree's senior vice president of operations, hospitality management. "These hotels have consistently excelled in guest and F&B satisfaction, setting a benchmark for unparalleled service, and we are proud to have them as part of the Peachtree family. Additionally, we extend our gratitude to our partners who entrust us with managing their properties. Their collaboration has been instrumental in achieving these accolades, showcasing our shared commitment to superior quality."

FLORIDA ATTORNEY GENERAL Ashley Moody is targeting fake postings offering vacation rental properties. The state's campaign against these specific scams plays into AAHOA's call for more short-term rental regulation, the association said. The scams involve fake postings offering vacation rental properties with requests for application fees or security deposits, according to Moody's office. Victims of the scam pay the deposit, only to find the listing has disappeared and so has the deposit money. The would-be vacationers often show up at the property and find that the actual owners have no record or intention of renting. "Florida is one of the most popular vacation destinations in the nation," Moody said. "Scammers will take advantage of this by creating fake vacation rental listings in hopes of stealing personal information and money. Whether you are traveling within the state or from out of state, make sure to take extra precautions when renting a vacation home to avoid being burned this summer vacation season."

Lenny King is now director of IT for Greenville, South Carolina-based auroHOTELS. Previously, he was director of IT for restaurant chain Taco Johns. Prior to coming to Greenville, South Carolina-based auroHOTELS, King, a native of Missouri, worked first for Intrawest Resorts, managing new property infrastructure and technology systems. He also worked for various hotels and resorts in Florida and Hawaii, including Hilton Daytona, PGA National, Turtle Bay Resort and Marriott Waikoloa. At auroHOTELS, led by D.J. Rama as president and CEO, King will oversee IT strategy, monitoring and enhancing cyber security, managing hotel WiFi and bandwidth, deploying systems to improve overall productivity, increasing automation, flow and reporting. He and his team will support the corporate headquarters and the properties in the field.

A TOTAL OF 8,000 attendees gathered at the Los Angeles Convention Center for the 2023 AAHOA Convention & Trade Show saw more than 20 education sessions, 500 exhibiting companies, keynote speakers and four networking events, including the Welcome Reception at the world-famous LA Coliseum. The conference broke various records from AAHOA's 34-year history, AAHOA said in a statement. AAHOACON23 culminated in a gala event in the form of AAHOA Awards, celebrating excellence in the field of hospitality. However, several large hotel companies boycotted AAHOACON23 over AAHOA's support for franchising reform. "With a record level of booth sales for the trade show, it was the largest trade show in AAHOA's 34-year history, and a 22 percent increase over 2022," AAHOA said. "There were nearly 520 total exhibiting companies, the second largest exhibitor total in AAHOACON history," it said. Now past AAHOA Chairman Neal Patel officially turned over the reins to his successor, Florida hotelier Bharat Patel. According to AAHOA, the AAHOACON23 Trade Show was sold out, and a wait list was created - the first time ever in AAHOA history. The event also generated a very strong number of first-time exhibitors, 167, which is the second-largest number of first-time exhibitors in AAHOA history, AAHOA said. "The exhibit sales team achieved a new record in exhibit booth sales for AAHOACON24. A total of 170 exhibitors have rebooked and will return for AAHOACON24 in Orlando next year. This number represents more than 40 percent of the show floor space and 100 percent of all exhibiting hotel brands rebooked for AAHOACON24," the statement added. "The adjectives and praise to describe AAHOACON23 and our remarkable AAHOA Team keep pouring in," said Laura Lee Blake, AAHOA president and CEO. "I could not be prouder of how AAHOACON23 turned out, and we are so thankful for all the sponsors, exhibitors, speakers, and attendees who helped make this convention and trad

HYATT HOTELS CORP. reported an almost 85 percent growth in its global pipeline since 2017, reaching a record of 129,000 rooms. During this period, the company doubled its luxury rooms, tripled its resort rooms, and quintupled its lifestyle rooms. Pictured is a rendering of the New Andaz Miami Beach in Miami Beach, Florida. The company is expanding its brand portfolio both nationally and globally, selecting new and existing markets to enhance its network effect for owners and guests, Hyatt said in a statement. "Hyatt leading the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, Hyatt's president and chief executive officer. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners."

Australia has everything to offer to a traveler, the vast beaches, the aboriginal spots, flourishing markets, natural and man made wonders....

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Description: Dubai and The UAE Travel Guide from a person who traveled to the UAE as a tourist more than 6 times and visited all the existing emirates (Dubai, Abu-Dhabi, Sharjah, Ajman, Fujairah, Umm-Al-Quwain, Ras-Al-Khaimah) and now lives in the UAE. It will provide you with practical information that will help you to save time and money, plan your route and make your trip unforgettable. https://wowdubaitravel.com

Sarasota Bradenton International airport, located three miles away from Sarasota County in Florida, US, acts as a gateway to the south-west Gulf coast of Florida. The airport is spread over approximately 1,100 acres and most its property including half of Airside B, runways and taxiways, three fixed base operators (FBOs) and certain other lands are located in Manatee County.

AAHOA AND THE American Hotel & Lodging Association welcomed the passage of the No Hidden FEES Act on June 11. The legislation aims to establish a uniform standard for transparent and mandatory fee displays across the lodging industry. The bill, introduced by Reps. Young Kim (R-California) and Kathy Castor (D-Florida), had unanimous approval from the House Energy & Commerce Committee in December and passed with bipartisan support on the House floor. AAHOA said that the legislation would empower its hotelier members and guests to make informed decisions and safeguard their financial interests.

PINAL PATEL WAS elected secretary of AAHOA in the culmination of 2024 AAHOA Convention & Trade Show held this week in Orlando. New members of the association's board of directors also were elected and new industry partners were announced. Pinal, of Goodlettsville, Tennessee, defeated H.K. "Hare Krishna" Patel for the secretary position. He was born in Bardoli, India, and his family moved to the U.S. in 1984 when he was 2, according to AAHOA. They lived in Nashville, Tennessee, Pinal said his parents did not speak any English when they brought him and his 1-year-old brother to America. Pinal's parents bought their first independent hotel in 1991, and he is a second-generation hotelier even after graduating flight school at Embry Riddle in Daytona Beach, Florida, before buying his first franchise property. Previously, he has served as an AAHOA ambassador and as AAHOA's director at large Eastern Division. "Hard work definitely pays off," Patel said. "I'm going to make sure we do what's right for the association and for the members. I promise to all my supporters, my family, and my fellow members that I will not let you down. I will do what's best for the association's interests."

Jaisamand Island is a beautiful and small island in Udaipur, while you stay here you will feel like you are in Florida Island. We had taken private boat in Jaisamand Lake to reach resort, we stayed here two weeks. Rooms are well decorated with comes delicious meal menu. They treat us like royally as we enter the resort. The experience of this resort was fantastic.

A trip to Walt Disney World Resort in Florida is truly fabulous. Many tourists find it overwhelming to plan a vacation here. If not planned properly, the trip is expensive. However, there are many ways to find cheap Walt Disney World vacation packages. Go through the tips given below which will help you enjoy the resort in an affordable way.

Living under the sea while not getting suffocated is like a dream. Jules undersea lodge is in Florida and it is one of the most popular stays of this place.

Miami is one of the most lively and exciting city in the United States. Located on the southeastern coast of Florida, Miami offers a diverse range of activities, from beach fun to cultural experiences. Whether you are a local or a tourist, there is always something new to discover in Miami. There are some of the top things to do in Miami.