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REAL ESTATE INVESTMENT competition She Has a Deal (SHaD) started a 10-city tour of U.S. cities to raise equity capital under the name "SHaD Prosperity Fund I." The funds will support women-led hotel projects, a statement said. The tour kicks off in Miami on Feb. 11 and will be open to small groups of qualified individual investors, family offices, small entities and trusts. Cities on the tour include Cleveland, Phoenix, Dallas, New York, Atlanta, Chicago, as well as Oakland, California; Louisville, Kentucky; and Washington, D.C. It will finish in the first week of April. According to SHaD, each event will include a preview of the women-led hotel deals being pitched by participants in the 2022 She Has a Deal pitch competition. "Launching SHaD Prosperity Fund I is the next logical step in the SHaD mission. Now that we have created a powerful platform to expose more women to hotel ownership and educate them about the process, I want to ensure that capital is available for the women to close their hotel deals," said SHaD founder Tracy Prigmore. "This investment vehicle marries two of my passions: creating investment vehicles that open the doors of hotel investing to more people and increasing the number of women owning and developing hotels. The ability to create passive income for investors while leading social change is inspiring."

PEACHTREE HOTEL GROUP added seven hotels to its portfolio this week for $135 million. Three of the hotels also are part of Peachtree's third investment partnerships with San Mateo, California-based Verakin Capital led by partners Rupesh and Bimal Patel and Hiten Suraj. The new acquisitions include 829 rooms and are in five different states, according to Peachtree and its management division Peachtree Hospitality Management, which will operate all seven hotels. The new hotels are: The dual-brand Hilton Garden Inn Phoenix Tempe, University Research Park, 120 rooms, and Home2 Suites by Hilton Phoenix Tempe, University Research Park, 108 rooms, in Tempe, Arizona, which were built in 2017. Aloft Hillsboro-Beaverton in Hillsboro, Oregon, 137 rooms, built in 2017. Hilton Garden Inn Casper, 121 rooms in Casper, Wyoming, built in 2008. Home2 Suites by Hilton Eugene Downtown University Area, in Eugene, Oregon, 120 rooms, built in 2016. Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, Pennsylvania, 119 rooms, built in 2013. Hilton Garden Inn West Lafayette Wabash Landing in West Lafayette, Indiana, 104 rooms, built in 2003.

IN MARCH, THE U.S. celebrated the achievements and history of women as part of Women's History Month. In recognition of the month, some hotel companies introduced or continued programs aimed at increasing women's role in the industry. In line with the Women's History Month theme this year "Celebrating Women Who Tell Our Stories," Choice Hotels International kicked off its "HERtels at Choice Development Seminar" with nearly 40 franchise owners, general managers, and hotel associates in attendance. At the same time, Wyndham Hotels & Resorts' "Women Own the Room" initiative has signed over 30 hotels across the U.S. and Canada in the first year of its launch. Also, California hotelier and philanthropist Sunil "Sunny" Tolani issued a special message for the month. HERtels by Choice Choice Hotels took the recently held Hunter Hotel Conference in Atlanta as a launch pad for its inaugural HERtels seminar. The event was held next door to the Marriott Marquis Atlanta, Hunter's venue, and is an enhancement of Choice's HERtels program that was launched in 2021. "While industry-wide parity is improving, with more female investors, directors, and leaders in hospitality than ever before, women entrepreneurs still face significant economic and societal barriers when it comes to hotel ownership and development. As an industry, we owe it to the next generation of hoteliers to change this statistic," said John Lancaster, vice president for emerging markets, franchise development and owner relationships, Choice Hotels International. "This initiative and the invaluable resources it provides is a natural extension of our industry-leading emerging markets program and our enduring commitment to helping growth-minded entrepreneurs further their unique ownership journey."

Best Western Ottumwa Inn & Suites recently opened in Ottumwa, Iowa, and SureStay by Best Western San Francisco opened in San Francisco, California. Owned by Anil Chaudhari, Best Western Ottumwa Inn & Suites offers 41 guest rooms and 20 suites, while SureStay by Best Western San Francisco, owned by Dave Panas, features 37 guest rooms. Best Western Ottumwa Inn & Suites is near attractions such as Bridge View Center, Garrison Rock Resource Management Unit, Graham's Dairy Freeze and Iowa Heartland History Center. Amenities include an indoor pool and a fitness center. "We are excited to introduce the Best Western hospitality experience to Ottumwa," said Chaudhari. "Our focus was on delivering a comfortable, modern stay with value and convenience in mind. Whether guests are in town for leisure, business, or simply passing through, our property ensures attentive service and essential amenities for a memorable stay."

IHG HOTELS & RESORTS has selected California-based Canary Technologies as the global digital tipping solution vendor, enabling guests to tip hotel staff. Founded by Harman Narula and SJ Sawhney in 2017, the company offers digital tipping solutions and an end-to-end guest management system, including mobile check-in and checkout, dynamic upsells, and guest messaging, Canary said in a statement. "Hotel staff members are the backbone of the hospitality industry and guests want to tip staff for great service," said Dhiraj "DJ" Singh, Canary's vice president of sales. "With the declining use of cash worldwide, staff tips have taken a hit over the years. We are thrilled to help IHG hoteliers boost guest satisfaction and reward hard-working team members." IHG Hotels & Resorts, featuring 19 brands, more than 6,000 hotels, and nearly 1 million rooms worldwide, will implement Canary's digital tipping solution to improve the guest experience and acknowledge employees efficiently, the statement added.

THE AMERICAN HOTEL & Lodging Association recently renamed its On the Road series of regional events to The Hospitality Show, providing networking opportunities and industry updates to hospitality professionals nationwide. The events enable hoteliers, suppliers, and service providers to connect and stay informed on market data and policies at federal, state, and local levels, AHLA said in a statement. The events, accessible to all individuals in the hospitality industry, will expand The Hospitality Show brand, the primary industry event launched last year, slated for Oct. 28 to 30 in San Antonio, the statement said. "After the phenomenal success of The Hospitality Show last year, we're bringing the best-in-class networking and learning opportunities from this industry-leading event to hospitality professionals in cities all across the country," said Kevin Carey, AHLA's interim president and CEO. "We can't wait to connect with stakeholders from Boston to California."

DALLAS LEADS THE top five U.S. markets in the largest construction pipeline as of the first quarter of 2024, according to Lodging Econometrics. The Dallas market has 185 projects with 21,882 rooms, slightly below the record highs at the close of the fourth quarter of 2023. Next came Atlanta, with 153 projects comprising 17,929 rooms, then Nashville with 127 projects and 16,199 rooms, as LE's U.S. Construction Pipeline Trend Report showed. Phoenix followed with 123 projects and 16,198 rooms, and the Inland Empire in Southern California set a new record high with 121 projects and 12,324 rooms. U.S. markets with the most projects already under construction by the end of the first quarter include New York with 47 projects and 7,655 rooms, Dallas with 25 projects and 3,059 rooms, and Nashville with 22 projects and 2,828 rooms. Atlanta had 21 projects and 2,588 rooms, and the Inland Empire currently has 20 projects and 2,181 rooms under construction.

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.

PEACHTREE GROUP SECURED a $73 million construction loan and C-PACE financing to fund the development of a 263-key dual-brand Home2 Suites and Tru by Hilton Hotel in San Diego, California, on behalf of the locally based Baxter Hotel Group. Baxter is set to commence construction on its 16-story, dual-branded hotel this month, with a projected 22-month construction timeline, Peachtree said in a statement. Peachtree facilitated a $50.4-million floating-rate construction loan with a three-year term and secured $22.6 million in fixed-rate C-PACE financing, amortized over 25 years. Collectively, these funds covered 64 percent of the total development cost, the statement said. "We were able to execute an innovative capital stack with the addition of C-PACE in an otherwise challenging financing market, providing ample capital for the construction to begin while saving the sponsor 200 basis points in interest rate spread," said Jared Schlosser, Peachtree's senior vice president, head of hotel origination and C-PACE.

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.

HOSPITALITY SOFTWARE PROVIDER Canary Technologies recently closed a $50 million Series C funding round to research AI guest technology in the hospitality sector, bringing its total fundraising to nearly $100 million. The company's software includes mobile check-in and checkout, tablet registration, upsells, guest messaging, Canary AI and digital tipping. The recent investment round was led by global software investor Insight Partners, who also led the company's Series B, with participation from existing investors F-Prime Capital, Thayer Ventures, Y-Combinator and Commerce Ventures, Canary said in a statement. California-based Canary is led by CEO Harman Singh Narula and President SJ Sawhney. "AI is transforming the way we live, work and travel," said Narula. "Canary is at the forefront of delivering enterprise-grade hospitality AI solutions that empower hoteliers to streamline operations, boost efficiency and elevate the guest experience, This funding milestone is a reflection of the team's hard work and the immense impact that Canary is making for hoteliers, including many of the world's largest enterprise hotel brands. We continue to see significant demand in the market for our products and are excited to extend our partnership with existing investors."

PEACHTREE GROUP RECENTLY issued a $40-million retroactive Commercial Property Assessed Clean Energy loan to BLG San Diego LLC for the newly opened 147-room AC Hotel San Diego Downtown Gaslamp Quarter. The proceeds enabled BLG to reduce its senior loan with California-based Preferred Bank and E.Sun Commercial Bank to under $20 million, thereby mitigating the banks' exposure, Peachtree said in a statement. "This innovative capital structure significantly alleviated the immediate financial pressures, enabling the hotel to establish a solid cash flow foundation during its initial years of operation," said Greg Friedman, managing principal and CEO, Peachtree Group. Peachtree is led by Friedman, with Jatin Desai as managing principal and chief financial officer, and Mitul Patel as principal.

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