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U.S. HOTEL CONSTRUCTION declined for the seventh consecutive month in June, according to STR. Rooms in construction in New York City and Nashville represent a significant percentage of existing supply in those markets. Though at a slower pace, planning activity increases across the U.S. and developers are showing interest in Miami, Nashville and Phoenix, the report said. According to STR, there are 146,198 rooms under construction in the U.S. in June, down 20.1 percent when compared to same period last year. As many as 178,809 rooms are at final planning during the month, decreased 11.3 percent from last year and 281,190 rooms are at planning phase, an increase of 6.1 percent from June 2021. "The U.S. hotel pipeline continues to decelerate as we enter the second half of the year," said Carter Wilson, senior vice president of consulting, STR. "The continued increases in debt costs combined with the ongoing supply chain disruptions will likely delay projects from breaking ground this year, which will lead to a further decline in rooms in construction. On a national basis, new supply will not be a significant headwind for the future." New York leads the major markets in rooms in construction at 13,568 rooms in June, up 10.8 percent compared to last year, followed by Nashville with 3,939 rooms, up 7 percent, Phoenix with 4,388 rooms, an increase of 6.3 percent over last year, Atlanta with 5,991 rooms, up 5.5 percent and Detroit with 2,382 rooms, an increase of 5.1 percent over June 2021.

BLACK PEOPLE MADE little progress in the hospitality industry over the past year, according to a report from diversity advocacy group the Castell Project. The COVID-19 pandemic was particularly hard on Black hotel workers and executives. The Castell Project released the "Black Representation in Hospitality Leadership 2022" on Tuesday, which was International Women's Day. Much like last year's report, it showed little progress for racial diversity in the industry. For example, only 11 percent of the 671 hotel company websites reviewed for this study showed Black executives, director through CEO, prominently on their websites in 2021, down from 2019. Those Black executives represented just 2 percent of all hospitality industry executives on the websites reviewed.

U.S. HOTELS ARE likely to report improved RevPAR growth in the second half of the year, following a weak first quarter, according to CBRE. International tourism and other economic factors are expected to provide a boost to performance. A 2 percent increase in RevPAR growth is forecasted for 2024, down from the 3 percent estimated in February. RevPAR is now expected to grow by 3 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. It is projecting GDP growth of 2.3 percent and average inflation of 3.2 percent in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation between GDP and RevPAR growth, CBRE said in a statement.

CHOICE HOTELS INTERNATIONAL is implementing "Choice Direct Pay," a system that allows corporate customers to make reservations for their employees and guests at multiple Choice hotels. The new system then bills the companies directly through a single, centralized invoice. Choice Direct Pay also would provide weekly consolidated invoicing so corporate travelers can pay for all stays at one time. Users can download and manage their invoice data through an individualized online portal, and centralized customer support can help with the enrollment process, check the status of payments and invoices and resolve issues with charges. The program also allows users to add project costs and department codes to bills to further simplify the reconciliation process. They also can access to existing negotiated and chainwide rates and search for participating hotels, as well as adjust their stay dates.

The American Hotel & Lodging Association Foundation's third annual "No Room for Trafficking Summit" will take place on July 30, coinciding with the United Nations' World Day Against Trafficking in Persons. The upcoming summit will evaluate the first-year impact of NRFT Survivor Fund grants on nearly 650 human trafficking survivors, AHLA Foundation said in a statement. "In 2022, we launched the NRFT Survivor Fund - a first for the hotel industry - to expand the hotel and lodging industry's efforts to support trafficking survivors," said Anna Blue, AHLA Foundation's president. "Since launching the Survivor Fund, we have grown our total raised to $7.5 million towards our goal of $10 million, and we look forward to awarding $1 million in grants to community-based organizations that support human trafficking survivors at our third annual summit." Last year's NRFT Summit announced the inaugural grantees of the NRFT Survivor Fund, including Safe House Project, BEST, Restore NYC, and the University of Maryland SAFE Center for Human Trafficking Survivors, the statement said. AHLA Foundation also shared data showing the impact of the $500,000 distributed to the four Survivor Grantees.

FOUR HOTELS RECENTLY joined Hospitality International's hihotels brand, including three Red Carpet Inns along the East Coast and a new-build Scottish Inns outside of Houston, Texas. The company expects more growth in the future. Hihotels includes five brands Scottish Inns, Red Carpet Inn, Master Hosts Inns, Downtowner Inns and Passport Inn. The new properties include. Red Carpet Inn in Elkton, Maryland, 55 rooms, former Days Inn Red Carpet Inn in North Brunswick, New Jersey, 50 rooms, former independent Red Carpet Inn in Edison, New Jersey, 42 rooms, former OYO Hotel Scottish Inns in Richmond, Texas, 35 rooms, new construction While three of the four are conversions, the property in Richmond is the latest new build to join the brand. Two other Scottish Inns construction projects are currently ongoing in Texas in Houston and Forest Hill. Another new build recently opened in Hitchcock, Texas.

THE AMERICAN HOTEL & Lodging Association and the Hospitality Financial and Technology Professionals Association announced a 10-year agreement to jointly produce the Uniform System of Accounts for the Lodging Industry, a statement said. The USALI is the global "standard" for hospitality accounting and HFTP purchased rights to its contents in 2018. AHLA and HFTP have reengaged the joint Global Finance Committee that is responsible for creating content for USALI's 12th edition to be released next year, according to AHLA. For many years, AHLA's Financial Management Committee was responsible for creating content for the USALI. HFTP purchased USALI's intellectual property, publishing and distribution rights from the Hotel Association of New York City. "After our decision to publish on our own, many in the industry contacted both HFTP and AHLA to see if we could find a way to work together," said Frank Wolfe, HFTP's CEO. "Both organizations had the willingness to work together, but like any business deal the decision was in the details. Associations are a bit different animal than corporate enterprises. Today we may work together on one project and tomorrow will be dead on competitors so there were lots of details to refine. The good news is that both organizations worked exceptionally hard to put those competitive differences aside and advance the industry."

MEMORIAL DAY WEEKEND is back and almost as strong as pre-pandemic levels, with 39.2 million people forecast to travel 50 miles or more from home during the holiday period, according to AAA Travel. Despite record high gas prices, a majority of travelers, 34.9 million, are expected to drive, but air travel also is seeing resurgence. The total forecasted number of travelers is 8.3 percent higher than 2021's 36.2 million and comes closer to 2017 levels. Last year, U.S. hotels saw occupancy hit nearly 62 percent over that Memorial Day weekend, according to STR. "Memorial Day is always a good predictor of what's to come for summer travel," said Paula Twidale, senior vice president, AAA Travel. "Based on our projections, summer travel isn't just heating up, it will be on fire. People are overdue for a vacation and they are looking to catch up on some much-needed R&R in the coming months."

Rodney Williams is retiring from his position as principal and chief investment officer at Noble Investment Group at the end of the year. He will continue to serve on the firm's investment committee as a senior advisor. Williams joined Noble in 2004 as the company's first CIO overseeing the company's sourcing and investment underwriting as well as executing project developments. Prior to joining Noble, he was a managing principal with Hardin Capital, a joint venture between DLJ Real Estate Capital Partners and Hardin Construction, and held senior executive roles with Coopers & Lybrand, InterContinental Hotels, and Laventhol & Horwath. "Rodney's impact on our Noble organization has been profound," said Mit Shah, Noble CEO. "His vision, integrity, and devotion have made us a better team. His benevolence and grace have made me a better person. Perhaps Rodney's most important legacy will be his most valued endeavor - helping to develop and inspire our next generation of Noble stewards to lead lives that matter."

HILTON HAS LAUNCHED a new extended-stay brand, Project H3, designed to meet the needs of the rapidly expanding $300 billion workforce travel market, looking for apartment-style accommodations for 20 nights or more. Launching in the U.S. as Hilton navigates the final stages of the trademark process, this lower midscale, extended-stay brand is the newest addition to Hilton's portfolio, the company said in a statement. Hilton is engaged in more than 100 active development conversations with many owners expressing interest in multiple locations. According to the statement, the product provides a foundation for the long stay, allowing guests to make the most out of every day, and delivers an exciting investment option for developers looking to diversify their portfolio under the Hilton name. "Project H3 is perfectly positioned to serve the unique needs of the long-stay traveler, thanks to its innovative design, strong value proposition for our owners and of course, the hospitality our team members offer every day," said Chris Nassetta, Hilton president and CEO. "We aim to serve any guest, anywhere in the world, for any travel need they may have, and this new brand represents a greater opportunity for us to grow our portfolio while providing the reliable and friendly service our customers expect from Hilton." Hilton's in-house research shows long-stay travelers, including traveling nurses, military personnel, and those experiencing workforce relocations, place quality time and comfort above all else. In addition, those looking for a long stay will book an average of 20 or more nights and desire a reliable home base that allows them to maintain their routines while delivering simplicity, consistency and convenience.

STONEHILL CRE, THE commercial real estate group of investment firm Stonehill, has originated and purchased $200 million in first mortgage loans since being launched in the second quarter of 2022. The companies expect to complete an additional $100 million in loan originations and other transactions by year's end, based upon deals in its pipeline, and Stonehill CRE is targeting over $500 million in transaction for 2023. Stonehill CRE, formed in May with Daniel Siegel as its president, is designed to work in all real estate sectors to navigate ongoing market volatility and enable real estate owners to execute their business plans, according to the company. Its work has made Stonehill the 10th largest U.S. hotel lender in 2021, according to the Mortgage Bankers Association. Atlanta-based Stonehill and Stonehill CRE are affiliates of Peachtree Group, led by Jatin Desai and Mitul Patel as managing principals. "Stonehill CRE's formation came at a fortuitous time as market conditions have created a dislocated lending environment for commercial real estate," said Siegel. "Traditional lenders have not only slowed commercial real estate lending but also tightened underwriting standards, which allows us to provide needed liquidity for maturing loans, new acquisitions and construction projects."

CBRE HOTELS RESEARCH has once again revised its forecast for the second half of 2022. The revision is mainly due to strong gains in the second quarter and expectations of positive growth next year. RevPAR for the second half of the year will rise to 14.7 percent year-over-year, up from the previous projection of 13.1 percent in May, according to CBRE. The reasons for the spike are a 3.5 percentage point increase in ADR and a 2.2 percentage point reduction in CBRE's demand forecast. Second quarter RevPAR reached $98.84, up 38 percent year over-year, and an all-time quarterly high at 106 percent of 2019's level. RevPAR growth was driven mainly by ADR, up 25.5 percent, followed by occupancy, up 9.9 percent.

THE GRADY HOTEL is now open in Louisville, Kentucky, after an extensive renovation by owner Vision Hospitality Group of Chattanooga, Tennessee. It will be operated by Humanist Hospitality, a division of Vision. The 51-room luxury lifestyle Grady is Vision Hospitality's most recent upscale property, such as the recently opened Kinley Chattanooga Southside in Chattanooga, Tennessee. Work began on the restoration in March 2020. "The Grady is a special project for Vision, and we are excited to see how this restored, historic building tells its story to all who step inside," said Mitch Patel, Vision Hospitality Group President & CEO. "The Grady represents Louisville's one-of-a-kind spirit and welcomes both locals and guests to experience its refined comfort and cordial service." The Grady is near the Muhammed Ali Center, Frazier History Museum and the Louisville Slugger Museum. The building originally housed a medicinal bourbon apothecary built in the late 1800s by pharmacist J.B Wilder.

AN ESTIMATED 54.6 million people will travel 50 miles or more from home this Thanksgiving, according to AAA Travel, 1.5 percent more than last year and 98 percent of pre-pandemic volumes. AAA is projecting this year will be the third busiest for Thanksgiving travel since AAA started tracking in 2000. Continuing a years-long trend, most travelers, nearly 49 million, will drive to their holiday destinations between Nov. 23 to 27, according to AAA. That number is up 0.4 percent from 2021 but still 2.5 percent below 2019 levels. "Families and friends are eager to spend time together this Thanksgiving, one of the busiest for travel in the past two decades," says Paula Twidale, AAA's Senior Vice President of Travel. "Plan ahead and pack your patience, whether you're driving or flying."

PEACHTREE GROUP RECENTLY received I-956F approval from the U.S. Citizenship and Immigration Services, the agency overseeing the EB-5 Immigrant Investor Program, for developing a Home2 Suites by Hilton in Boone, North Carolina. USCIS adjudicated the I-956F petition for the hotel development in five months, Peachtree said in a statement. "It is a testament to the due diligence of the Peachtree team that it was able to get the project approved so quickly, especially when the published processing time is over 15 months," said Adam Greene, Peachtree's executive vice president of EB-5. The company, led by Greg Friedman as CEO and managing principal, Jatin Desai as managing principal and Mitul Patel as principal, originated $21.7 million in fixed-rate construction financing over a five-year term for Narsi Properties to develop the 105-room Home2 Suites near downtown Boone, Peachtree said. Narsi Properties is led by Deven, Neel and Rupal Patel as principals.

HOSPITALITY FIRMS OYO ROOMS and Wyndham Hotels and Resorts recently joined relief efforts in Ukraine. OYO is offering free accommodation to refugees fleeing the war-torn country and Wyndham made a cash donation to a charity supporting child victims of the war. OYO appealed to more than 600 Belvilla home-owners on its platform in Poland, to open their holiday homes to refugees, it said in a statement. "These stays will be free for refugees who cannot pay for them, and the costs will be borne by us and our home-owners who volunteer to host refugees. We will support them administratively, and help cover operational expenses incurred," OYO said.

Kamara Batchelor is the new director of fund and corporate accounting at Noble Investment Group. Batchelor, a specialist in audit, tax, fund management, REIT compliance, and cash flow projections and analytics, previously held a position at One10, a consulting firm focused on CFO and transaction services, Noble said in a statement. "Kam is a valuable addition to our team," said George Dabney, managing principal and CFO, Noble Investment Group. "He brings with him an impressive track record that will enhance the continuous growth of Noble's institutional investment management platform." Batchelor also spent 10 years at PricewaterhouseCoopers, where he worked with real estate clients. He was also a member of the launch team for the Center of Excellence verticals, the statement added.

AAHOA'S NEWEST PROJECT aimed at promoting women in hospitality is the "ElevateHER Women's Initiative to Highlight and Support Women Hoteliers and Leaders in the Industry." The initiative, launched Tuesday, will offer networking and educational opportunities for women hoteliers and hospitality industry professionals. As part of ElevateHER, AAHOA is hosting the Women Hoteliers ElevateHER Conference on Oct. 26 to 27 in Cincinnati. The conference will focus on bringing together AAHOA's community of women hoteliers for education, inspiration, and empowerment. "AAHOA has been proud to celebrate the important work women are doing at every level of hospitality, and this initiative further underscores our commitment to the women of AAHOA and elevating their contributions to the industry," said Laura Lee Blake, AAHOA's first full-time female president and CEO appointed in May. "While there's still much work to be done, AAHOA recognizes the significant strides women have made to be seen at industry events, heard in the boardroom, and valued in the workplace. ElevateHER celebrates these accomplishments and will further drive our association's work around elevating and supporting women in the industry."

DAYS INN BY Wyndham has released a new, limited-edition pillow that offers compliments at the push of a button Voiced by comedic actor Patrick Warburton to celebrate summer, according to a statement. From compliments on travelers' PJs to a serenade sung by Warburton-each prerecorded message is a gift for guests, the company said. Best known for characters like Puddy on the NBC comedy Seinfeld, Buzz Lightyear on Buzz Lightyear of Star Command and Joe Swanson on Family Guy, Warburton brings his signature baritone bravado to his newest role with Day Inn. "The absolute best part of any job in entertainment is getting the chance to make people laugh and smile, which is what made this project with Days Inn such a perfect fit," said Warburton. "I can't wait for guests to open their eyes after a great night's sleep and hear fun and unexpected compliments to help them start their day. It's officially my new favorite kind of pillow talk."

Stonehill CRE, the real estate arm of Stonehill, has finalized a $52 million senior loan agreement with Starpoint Properties to fund the construction of Lotus Point Apartments, a 245-unit multifamily development in Mesa, Arizona, within the Phoenix Metropolitan Statistical Area. The construction of this four-story building is scheduled for completion in the first quarter of 2025, Stonehill said in a statement. "This investment mirrors our sought-after strategy - a quality property with an experienced sponsor in a growing market," said Taylor Pike, senior vice president at Stonehill CRE. "Phoenix stands as a strong job growth market due to diverse employment opportunities. Single-family home development has not kept pace, and with rising mortgage rates, well-located multifamily projects will remain in high demand." This 6-acre site, adjacent to a retail center and within walking distance of the metro light rail, will provide studio, one-bedroom, and two-bedroom units, along with amenities such as a fitness center, clubhouse, co-working area, pool, and parking options, Stonehill said.