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THE U.S. TRAVEL ASSOCIATION recently launched the Sustainable Travel Coalition to align the travel, transportation and technology sectors to create a more sustainable U.S. travel industry, a statement said. The coalition with nearly 60 member organizations will advise USTA on sustainability issues, opportunities and concerns within the industry. The long-term goals of the coalition include, showcasing innovative technologies and calling attention to the ongoing actions and leadership of travel professionals in the sustainability space, boosting industry goals and commitments to conservation, best practices, waste and emission reductions and both long- and short-term investments. It will also highlight why sustainability matters in the industry and play offense by identifying and promoting proactive policies and defend against harmful policies that slow progress or penalize the industry without progress. A policy committee will monitor regular progress and collaboration.

A NEW ENVIRONMENTAL, social and governance report released by Choice Hotels International highlights steps that would allow the company to reduce utility costs, save time for franchisees, and increase Choice's ESG commitments. Those steps include new energy- and water-saving technology, diversity goals for hotel ownership and more. The report entitled "Building a Better Tomorrow, Today" lays out the company's plan to being a good corporate citizen, according to a release. "Choice Hotels shares a uniting belief that tomorrow will be even better than today, and we are committed to building that better tomorrow," said Patrick Pacious, Choice's CEO, in the report. "As one of the largest lodging franchisors in the world, we are building on more than 80 years of success in developing a portfolio of diversified brands and creating a lasting, sustainable legacy for the future - one hotel, one family, one community at a time." Key findings The report further details measures being undertaken by Choice to integrate ESG standards and principles into its long-term decision-making and operations, including: Reporting Scope 1 and Scope 2 greenhouse gas emissions for the first time and aligning ESG disclosures with the Sustainability Accounting Standards Board standards and the United Nations Sustainable Development Goals. Appointing an executive with knowledge of the business as vice president, sustainability and creating two new ESG governance forums to strengthen Choice's ESG strategy and execution. Joining the Sustainable Hospitality Alliance, a global network that champions responsible hospitality, and becoming one of its largest members. Relaunching HERtels by Choice, driving a 53 percent year-over-year increase in the company's hotel franchise deals with woman owners. Committing $25 million in incentives for contracts with underrepresented minority and woman owners by 2025. Setting a goal to increase the representation of women in senior leadership roles to 50

Nakul Anand, former executive director of ITC Hotels, has been named chairman of the advisory board for Tricone Luxury Hotels, a subsidiary of U.S.-based Tricone Engineers. Anand brings four decades of hospitality experience. He will oversee the company's continued growth in India, Tricone said in a statement. "We are thrilled to welcome Nakul Anand to our team," Alok Aggarwal, Tricon Luxury Hotels' CEO, said in an article on ANI. "His unparalleled expertise in the hospitality industry will be instrumental in shaping our company's vision and integrating sophisticated hospitality services and sustainability initiatives into our hotels and real estate projects." Tricone Luxury Hotels recently executed memorandums of understanding with Indian hotel brands and acquired land for a real estate project in Alibaug near Mumbai, which will be marketed soon. The company is set to launch luxury hotels and hospitality-oriented real estate projects in Alibaug.

THE U.S. HOSPITALITY industry faces an environmental wake-up call as guests seek accommodations that align with their values beyond amenities alone. This trend has fundamentally changed how hotels approach sustainability, with many adopting practices such as reduced water consumption and energy conservation. Large hotel chains like Hilton Hotels & Resorts and Marriott International have openly declared their efforts to minimize environmental impact. However, achieving meaningful sustainability requires franchise owners and operators to be on the same page. "As a global hospitality leader, Hilton is dedicated to providing exceptional guest experiences," said Jean Garris Hand, Hilton's vice president of global ESG. "However, we also recognize our profound responsibility to safeguard the destinations where we operate for future generations of travelers. Our efforts to reduce energy, carbon emissions, water usage, and waste are integral to Travel with Purpose, Hilton's comprehensive environmental, social, and governance strategy aimed at promoting responsible travel worldwide."

1. Introduction to Commercial Refrigeration: Commercial refrigeration systems have evolved into sophisticated technologies that serve a multitude of industries. From preserving perishable foods to storing temperature-sensitive pharmaceuticals, these systems play a vital role in modern business operations. The versatility of commercial refrigeration extends beyond conventional cooling needs, catering to diverse applications with precision and efficiency. As businesses strive for sustainability and efficiency, the demand for innovative refrigeration solutions continues to rise. In this article, we explore the multifaceted nature of commercial refrigeration and its far-reaching impact across industries. Asian Hospitality 2. Diverse Applications: The applications of commercial refrigeration span across various sectors, including hospitality, healthcare, retail, and agriculture. In the food industry, refrigeration is essential for maintaining the freshness and safety of perishable goods throughout the supply chain. Beyond food storage, commercial refrigeration is instrumental in preserving the efficacy of pharmaceuticals and vaccines, ensuring compliance with stringent storage requirements. Moreover, industries such as manufacturing, and laboratories rely on precise temperature control for storing sensitive materials and conducting experiments. The versatility of commercial refrigeration enables businesses to adapt to evolving needs and regulations while maintaining optimal conditions for their products.

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.

HOTEL OWNERS NAVIGATING industry changes wrought by the pandemic face no dearth of challenges: the decline in business travel, competition from home rental apps and ongoing labor shortages are just a few. Too often, the people owning the hotels - many of them small business owners - are figuring out how to adapt to the new hospitality landscape with added complications from the hotel brands that should be their partners. While many hotel owners have struggled to maintain their livelihoods since the pandemic began three years ago, some big hotel chain franchisers sold hundreds of millions of dollars' worth of loyalty point value to credit card companies under a system that often fails to adequately reimburse the franchisees. That is the thanks these hardworking franchisees got as they worked hard to keep hotel doors open. It does not have to be this way. Generations of franchise owners have successfully embraced entrepreneurship through the franchising model. Franchising allows budding entrepreneurs to adopt a known brand name and comprehensive business strategies in exchange for a portion of the revenue. This partnership has nurtured our industry: Hotels owned by our members employ 1.1 million Americans and contribute $368 billion to the economy. But the franchising relationship needs to be a two-way street to be truly successful. That is why we must ensure that the franchise industry engages in sustainable practices that recognize and safeguard the contributions of small business owners.

COMMERCIAL REAL ESTATE lender Stonehill is ranked as the 10th largest U.S. commercial real estate hotel lender by origination volume based on the 2021 Mortgage Bankers Association loan origination rankings. The ranking comes after the company originated $822 million in loans across 30 transactions in 2021 with an average transaction size of $27.4 million. Stonehill is a subsidiary of Atlanta-based Peachtree Hotel Group, led by Jatin Desai and Mitul Patel, who are principals of Stonehill and Stonehill PACE, as well as members of the Stonehill's investment committee. MBA's annual originations rankings report is a comprehensive set of listings of 149 commercial/multifamily mortgage originators, their 2021 volumes, and their different roles. "We are honored to be ranked in the MBA's leading industry list," said Mat Crosswy, Stonehill's president and managing principal. "Our top-ten position is a testament to our commitment to understanding our sponsors' business plans and accomplishing the transactions on their financial deadlines. We have a terrific opportunity to grow further as the hospitality industry is in a sustained recovery cycle. Hotel owners are looking for thoughtful options with capital partners that understand the industry's nuances, particularly considering the impact of the pandemic on hotel operators."

THE OMICRON COVID-19 variant could derail the hotel industry's fledgling recovery if countries like the U.S. move forward to tighten testing policies, according to HotStats. Future hotel bookings, meetings and other hotel-related activity will be impacted by the expectation of travel impediments, whether self-imposed, company-imposed or government-mandated, it added. In the U.S., major indices were still down double digits in October 2021 compared to same month two years ago, according to a blog post by HotStats. "Since a rapid uptick in occupancy from the beginning of the year through the summer, hitting an apex in July, occupancy in the U.S. has since more or less flatlined, a signal that the leisure boom could not be sustained at the same levels prior," said HotStats. "Though much maligned, there is propitious data surfacing in corporate travel. In October, corporate ADR was $7 higher than in October 2019 and $35 higher than in the previous month. Corporate volume mix, defined as the proportion of rooms sold at the corporate rate compared to total rooms sold, has grown 6 percentage points since July."

THE AMERICAN FRANCHISE business model is in trouble, according to a recent survey commissioned by AAHOA. The survey was inspired by a webinar AAHOA co-sponsored to gather public comment on the state of franchising for the Federal Trade Commission. The survey found that only 5 percent of the franchisee respondents are satisfied that their current franchise agreements provide fair terms representing a balanced relationship between themselves and their franchiser. Also, 72.6 percent of respondents would "possibly" or "probably" terminate their current franchised business within the next year if they could do so without penalty. "Franchising is in dire straits unless changes are made," said Laura Lee Blake, AAHOA president and CEO. "Franchising is still a powerful tool for economic mobility for America's small-business owners, including AAHOA Members. But franchising only works when both franchisors and franchisees are committed to its success, which requires transparency, fairness, and sustainable business practices. As this survey shows, there is much room for improvement when it comes to relationships that allow our small-business owners to thrive." Blake recently wrote an editorial supporting AAHOA's 12 Points of Fair Franchising and its promotion of a proposed New Jersey law that would reform that state's franchising regulations in ways similar to the 12 points. Several large hotel companies, including Choice Hotels International and Marriott International, protested AAHOA's recent annual convention in protest to its position on franchise reform The survey was conducted among owners of hotels, restaurants, retail stores and other small businesses that had participated in the FTC webinar. It was co-sponsored by the American Association of Franchisees and Dealers, and the Coalition of Franchisee Associations, conducted the survey after a recent webinar with FTC Chair Lina Khan. The FTC is soliciting comments through June 8 about

TRAVELERS IN 2022 will prioritize reunion and reconnection as the pandemic separated families and friends, according to a report by Hilton. The pandemic has led to several other changes as well, the report found. This year, travelers are expected to care more about sustainability and community efforts, according to Hilton's "The 2022 Traveler: Emerging Trends and the Redefined Traveler" report. They also are looking to remain loyal to brands, companies and organizations that align with their values, according to the report. "People have embraced efficiencies in many aspects of life and will be looking for similar conveniences in their travels, like contactless check-in and check-out and digital keys. With a reimagined workplace and new routines and habits in place, travelers will be looking for more grounding and balance in their travel schedules," the report said. New and refreshed hobbies are leading to a more informed, sophisticated, and, in some cases, in-shape 2022 travelers, the report said. This trend is expected to drive demand for new fitness and culinary options, as well as unique travel experiences.

THE BAIRD/STR HOTEL Stock Index dropped 2 percent to 5,739 in September, influenced by higher interest rates impacting stock prices and investor sentiment, according to STR, although the hotel stocks outperformed their relative benchmark. That is the second month of decline in the index following a surge in July. "Hotel stocks declined in September, yet they exceeded their relative benchmarks," said Michael Bellisario, senior hotel research analyst and director at Baird. "Both the S&P 500 and the RMZ recorded their poorest monthly performance this year due to elevated interest rates affecting stock prices and investor sentiment. Hotels likely gained from sustained, albeit gradual, RevPAR growth throughout the month. Year-to-date, the hotel brand sub-index stands at 23 percent, whereas the Hotel REIT sub-index lags at negative 1.5 percent."