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IHG HOTELS & RESORTS hopes to draw more young college graduates to the hospitality field, particularly among historically underrepresented groups, through a new partnership with Clark Atlanta University and Morehouse College in Atlanta. As part of the tie-up, IHG will provide resources to support students' professional development in the hospitality sector and create employment opportunities. The initiative is part of IHG's early-career recruitment program, according to IHG, which also is based in Atlanta. "Our partnerships with Clark Atlanta University and Morehouse College underscore IHG's commitment to supporting the success of future leaders and increasing ethnically and racially diverse talent within our company," said Elie Maalouf, CEO of IHG Americas. "Our goal is to create meaningful engagements that open more doors of opportunity for underrepresented groups. I recently had the pleasure of meeting a few of our summer interns from both schools and it was inspiring to be among a new generation of up-and-coming talent that we hope will soon come back to IHG."

U.S. HOTEL PERFORMANCE saw a decline in the last week of September compared to the previous week, as expected, according to CoStar. However, there was an improvement in year-over-year comparisons, particularly in occupancy due to a favorable Rosh Hashanah calendar shift. Occupancy stood at 66.7 percent for the week ending Sept.30, marking a slight decrease from the preceding week's 68.5 percent, and a 0.8 percent year-over-year rise. ADR was $157.89, down from the prior week's $164.97, but showed a 4.6 percent increase compared to the previous year. RevPAR also experienced a drop to $105.31, compared to the previous week's $112.96, yet still represented a 5.4 percent rise from 2022.

THE U.S. STATE Department has indefinitely extended a program allowing consular offices to waive in-person interviews for low-risk non-immigrant visa applicants who apply within 48 months of their most recent visa's expiration. Initially scheduled to conclude on Dec. 31, the program will now persist without a specified end date, undergoing regular reviews. This policy applies to consular offices globally. Under the updated program rules, the State Department anticipates the pool of applicants eligible for an interview waiver will at least double, the U.S. Department of State said in a statement. From October 2022 to September 2023, the State Department issued a near-record 10.4 million non-immigrant visas worldwide, partly attributed to interview waiver authority. "Interview waiver authorities have significantly reduced visa appointment wait times at embassies and consulates," the State Department said. "In Fiscal Year 2022, almost half of the nearly seven million non-immigrant visas issued by the Department were processed without an in-person interview. This success in reducing global visa wait times, particularly post-pandemic closures, is ongoing, with continued efforts to swiftly minimize wait times, including for first-time tourist visa applicants."

Dorothy Dowling, Best Western Hotels & Resorts' senior vice president and chief marketing officer, received the Albert E. Koehl Lifetime Achievement Award by the Hospitality Sales and Marketing Association International. The Albert E. Koehl Award, part of HSMAI's Adrian Awards, is given to individuals for their contributions to the advancement of hospitality marketing. Dowling has worked in the industry for 30 years and currently oversees Best Western's loyalty program, consumer and field marketing activities, advertising, public relations and e-commerce. "It is an honor to be joining the list of previous winners, which is filled with the names of industry icons who I have admired throughout my career in hospitality," said Dowling. "I can only hope my contributions to the industry will one day be as iconic as those who have come before me. I am particularly honored to be following in the footsteps of Best Western's President and CEO, David Kong, who won this same accolade in 2014."

U.S. HOTELS REACHED record-breaking ADR level during the last week of December, particularly by luxury resorts, according to STR. STR's top 25 markets also led the expansion. Occupancy was 54.3 percent for the week ending Jan. 1, up from 44.3 percent the week before and increased 10.7 percent when compared to 2019. ADR was $157.91 for the week, up from $129.67 during the fourth week and up by 15.1 percent compared to two years ago. RevPAR was $85.74 during the week under review, up from $57.46 the week before and increased 27.4 percent compared to 2019. STR's top 25 markets all together reached almost $200 in ADR, led by Miami with $455.31 and Oahu with $411.47. Norfolk/Virginia Beach recorded the largest occupancy increase during the week, up 25.3 percent to 49.4 percent. Phoenix registered the largest ADR increase, increased 36.9 percent to $155.71.

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.

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."

AAHOA MEMBERS RECENTLY testified in support of New Jersey Assembly Bill 1958, which would make changes to the New Jersey Franchise Practices Act that could benefit the hospitality industry. The association's support for specific parts of the bill is at the center of a division between AAHOA and two major hotel companies over franchise reform. On March 22, 30 AAHOA members attended a hearing of the New Jersey Assembly Commerce and Economic Development Committee during which the bill was passed out of the committee. Several of the members also testified, according to AAHOA. AAHOA members own 45.4 percent of New Jersey hotels, representing 46,124 rooms, the association said. "As the largest hotel owners association, representing the exclusive interests of America's hotel owners, AAHOA showed up in New Jersey to testify in support of amendments to the legislation to improve the franchise model," said Nishant "Neal" Patel, AAHOA chairman. Last May, a contingent of AAHOA members testified in favor of the bill in front of the New Jersey Assembly Judiciary Committee, particularly the aspects of the bill that match AAHOA's 12 Points of Fair Franchising. Specifically, the franchise reform changes supported by AAHOA include restricting non-competes for longer than six months; prohibiting requiring a relocation or capital investment greater than $25,000 more than once every five years unless hotel franchisers can establish a return on the investment; requiring a franchiser that receives "any rebate, commission, kickback, services, other consideration or anything of value" to fully disclose them to the franchisee and turn them over to the franchisee; putting restrictions on mandatory sourcing of goods or resources; and prohibiting suspending, restricting or preventing access to franchise services.

WYNDHAM HOTELS & RESORTS has entered into a new agreement with Groups360 to bring instant online multi-room bookings to Wyndham hotels in 2023. Using Groups360's GroupSync Marketplace direct booking solution, Wyndham hotel owners will have the opportunity to integrate the platform with their hotel reservation systems, providing travel planners, including groups and events organizers along with those managing infrastructure, logistics and corporate accounts, with rates and availability as well as booking of rooms online, the company said in a statement. "Over the last three years, Wyndham has invested over $100 million in major technology initiatives, giving our franchisees access to best-in-class offerings that unlock new efficiencies while helping to grow their bottom line," said Lisa Checchio, Wyndham's chief marketing officer. "Bringing franchisees access to GroupSync is just the latest example and one we believe offers incredible opportunity for franchisees, particularly those in the economy segment, where such technology is an industry first." Hotels that publish live inventory and rates within the GroupSync Marketplace save travel planners' valuable time by allowing them to search, shop and book blocks of rooms. Possible users include short one- to-two-night group events such as youth sports, weddings and family reunions, as well as multi-week infrastructure or logistics projects such as commercial construction, bridge repair or highway expansion, Wyndham's statement said.

A JOINT VENTURE between NewcrestImage and Hospitality Capital Partners recently acquired 16 hotels for $137.3 million from Service Properties Trust, a Massachusetts-based REIT. The deal includes a total of 2,155 rooms in nine states. The portfolio consists of 13 Courtyard and three Residence Inn hotels by Marriott hotels, which are in Georgia, Massachusetts, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Texas and Virginia. Eleven of the properties underwent major renovations between 2018 and 2019, the company said in a statement. "This transaction suits our company's style of strategically acquiring properties with strong fundamentals, especially during times of a difficult or slowed down economy," said Mehul Patel, managing partner and CEO, NewcrestImage. "It's an opportunity for our joint venture with NewcrestImage to add revenue immediately, while also growing long-term profit potential and asset value," said HCP principals Keith Mishkin and Primo Parmar. The transaction was handled by Al Calhoun and Mark Fair at CBRE in Atlanta. "Closing this transaction was particularly satisfying given the size of the deal and the challenges we're facing in the debt markets," added Al Calhoun, vice chairman with CBRE Hotels in Atlanta. "We were able to complete this transaction by breaking it up into three deals with three different lenders. These lenders had great confidence in the sponsorship and the quality of the brands and markets."

CHOICE HOTELS INTERNATIONAL ended its bid to acquire Wyndham Hotels & Resorts after its exchange offer expired Friday. Both companies released statements saying they will now focus on their standalone strategies. Choice also announced that it would withdraw its nominees for Wyndham's board of directors. Last week it made a last effort to encourage Wyndham shareholders to tender shares for the acquisition but still failed to gather sufficient support for the deal. "Since beginning this process in April 2023, Choice has attempted to engage in good-faith negotiations with Wyndham through numerous different avenues, including increasing the proposed offer multiple times and expressing an openness to further enhancing the offer with due diligence, offering a one-way NDA to share its confidential information with Wyndham, and offering above-market regulatory protections," the company said. "Given Wyndham's refusal to constructively and substantively engage on terms, Choice took the extraordinary step of launching the exchange offer to initiate the regulatory review process and engage with Wyndham stockholders. While the support from Wyndham stockholders tendering into the exchange offer was significant considering the number of investors structurally prevented from participating at this stage, it was not sufficient for Choice to conclude - particularly when taking into account the Wyndham board's obvious continuing disinterest in a combination - that a path towards a transaction is available at this time."

MOST PERFORMANCE METRICS for extended-stay hotels in January trailed behind the overall hotel industry compared to the same month last year, according to The Highland Group. Weather likely influenced this, particularly due to the construction industry's significant contribution to extended-stay hotel demand, especially at lower price points. According to the National Centers for Environmental Information, January witnessed geographically widespread record low temperatures in 2,500 counties. Additionally, there was large-scale flooding in Texas and Louisiana, marking it as the tenth wettest January on record. Extended-stay hotels have maintained strong annual demand over the past 25 years, excluding 2020, with rare monthly contractions during this period, the report said.

HOTELS IN THE Americas performed above 2019 levels, although RevPAR is stabilizing amidst decreasing consumer travel spending, according to real estate firm JLL. This has affected resort markets heavily dependent on leisure travel. In contrast, urban travel demand is on the rise, driven by group, corporate, and inbound international travel. According to JLL's Global Real Estate Perspective for February 2024, global hotel RevPAR surpassed 2019 levels by 11.7 percent in the first 11 months of 2023. The global urban market strengthened with increased international travel and the return of business and group demand. London, New York, and Tokyo are expected to lead global RevPAR performance in 2024 as urban travel rebounds. Stabilization has weighed heaviest in resort markets, particularly in the Americas and EMEA, while Asia-Pacific continues to accelerate as intraregional travel grows following border reopenings, the report added. Foreign capital, absent since the onset of COVID, is expected to become more active over the next 12 months. Middle Eastern and Asian investors are likely to lead, with urban markets in Europe and select U.S. cities as primary recipients of capital.

EXTENDED-STAY ROOM SUPPLY increased by 1.8 percent in February due to it being a leap year, consistent with the average monthly increase observed over the last two years, according to The Highland Group. February marked 29 consecutive months of 4 percent or less supply growth. Additionally, the change in supply has remained below 2 percent for more than two years, with both metrics significantly falling below the long-term average. The 18.8 percent surge in economy extended-stay supply, along with a modest increase in mid-price segment rooms, is largely attributed to conversions, The Highland Group said. Meanwhile, new construction in the economy segment is estimated at around 3 percent of open rooms compared to a year ago. 2024 first half supply trends Supply change comparisons have been affected by rebranding, segment realignment in The Highland Group's database, and the de-flagging of hotels failing to meet brand standards, along with sales to multi-family apartment companies and municipalities, the report said. This trend is expected to persist into the first half of 2024, particularly with older extended-stay hotels still available on the market.

PEACHTREE GROUP, A commercial real estate investment firm with a $6.4 billion portfolio, has secured approximately $660 million in credit investments since Dec. 1, with an additional $350 million expected to close within the next 30 to 45 days. These investments focus on hotels, multifamily, industrial, and student housing, Peachtree said in a statement. "We are witnessing heightened activity in response to the anticipation of sustained elevated interest rates and continued reductions in bank exposure," said Greg Friedman, Peachtree Group's managing principal/CEO. "The pressing need to refinance maturing debt, estimated at $2.8 trillion in U.S. commercial real estate debt by the end of 2028, is a growing concern. Commercial real estate stakeholders are grappling with the challenges of increased capital costs and constrained liquidity, particularly in securing capital for acquisitions, recapitalizations and development initiatives." Peachtree recently closed one of its largest individual credit transactions to date, securing a $102.9 million, three-year loan to recapitalize a 350-room Marriott dual-brand AC Hotel Sunnyvale Moffett Park and TETRA Hotel, Autograph Collection in Sunnyvale, California, the statement added.

U.S. EXTENDED-STAY HOTEL room revenues increased by $1.1 billion in 2023, similar to 2018 and 2019, though with a lower relative gain due to a larger room base, according to The Highland Group. All three extended-stay segments reported record-high room revenues in 2023, with the upscale segment leading despite previously lagging behind the pandemic recovery. The 6.1 percent increase in extended-stay hotel revenues outpaced the corresponding 5.5 percent gain reported by STR/CoStar for the overall hotel industry, the report said. However, extended-stay hotel supply experienced its smallest annual increase on record in 2023, at just 1.8 percent. Factors such as re-branding, de-flagging of non-compliant hotels, and sales to other sectors influenced supply fluctuations, a trend expected to persist into the first half of 2024, particularly with older extended-stay hotels remaining on the market. The report also highlighted a 6.6 percent increase in economy extended-stay supply, alongside modest gains in mid-price and upscale segments, primarily driven by conversions. New construction in the economy segment is estimated at around 3 percent of rooms open compared to one year ago.

U.S. HOTEL REVPAR is expected to grow steadily in 2024, driven by improving group business, inbound international travel, and traditional transient business demand, according to CBRE. This follows a strong performance in 2023 that muted the new forecast in some areas. The research firm forecasted a 3 percent increase in RevPAR growth in 2024, with occupancy improving by 45 basis points and ADR increasing by 2.3 percent. It indicates ongoing recovery of the lodging industry, with RevPAR in 2024 expected to surpass 2019 levels by 13.2 percent, CBRE Hotels said in a statement. CBRE's baseline forecast expects 1.6 percent GDP growth and 2.5 percent average inflation in 2024. Given the strong correlation between GDP and RevPAR growth, the economy's strength will directly impact the lodging industry's performance, the statement said. "We expect RevPAR growth to be slower in the first quarter due to last year's strong performance, but to reach its peak in the third quarter driven by the influx of inbound international travelers during the busy summer season," said Rachael Rothman, CBRE's head of hotel research and data analytics. "Urban and airport locations should particularly benefit from group and inbound international travel, as well as the normalization of leisure travel."

INTEGRITY INTERNATIONAL GROUP, led by Tony Matharu, has acquired two properties in London: Atlas House and Crescent buildings. Atlas House, a Grade II-listed building, is situated at the junction of King Street, Queen Street, and Cheapside, while the Crescent is located adjacent to Tower Suites by Blue Orchid Hotels. Both Atlas House and the Crescent will join the Blue Orchid Hospitality brand, part of Integrity, Integrity said in a statement. Meanwhile, the company recently restructured its Garage Hotels Group, the statement said. "The recent acquisition of Atlas House and the Crescent portfolio demonstrates our continued commitment to invest in and breathe new life into London property, particularly those buildings at the end of their previous lives, ensuring that London remains the best place to live, work, visit, and invest," Matharu said. "The team at Integrity International Group has unrivalled expertise in ac

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