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HYATT HOTELS CORPORATION plans to expand its brand portfolio in india and Southwest Asia, with eight new hotels set to open across various leisure and city destinations in 2024. The expansion will focus on Hyatt Regency, Hyatt Place and Hyatt Centric brands and is timed to coincide with an expected rebound of travel in the country and sub-continent, Hyatt said in a statement. "Southwest Asia continues to demonstrate high growth potential and is among the top global growth markets for Hyatt, said Sunjae Sharma, Hyatt's managing director for india and Southwest Asia. "We have strong expansion plans for 2024 across our portfolio encompassing our legacy brands like Hyatt Regency, Hyatt Place and Hyatt Centric across destinations that will strengthen our brand presence in key markets. This expansion represents our strong commitment and confidence in the Southwest Asia region." Hyatt is also expanding its luxury and lifestyle brands in india, including the recent launch of JdV by Hyatt with the opening of Ronil Goa, the statement said. JdV by Hyatt is the ninth brand introduced by Hyatt in india, reaffirming its commitment to expanding its presence in the country.

PEACHTREE GROUP SECURED $150 million in Commercial Property Assessed Clean Energy financing in December, bringing its total to nearly $750 million since its establishment in 2019. in 2023 alone, Peachtree completed 23 CPACE financing deals in the U.S., totaling $250 million in directly originated and balance-sheet-funded transactions. Commercial real estate is set for a challenging 2024, with trillions of dollars in debt coming due, making refinancing more difficult, Peachtree said in a statement. This challenge is compounded by banks tightening lending standards. "in this challenging lending market, CPACE financing has emerged as a crucial source of liquidity," said Jared Schlosser, senior vice president of origination and head of PACE at Peachtree Group. "This financing option is becoming increasingly essential as owners grapple with looming debt maturities and limited refinancing opportunities."

EXTENDED-STAY HOTELS DISPLAYED varied performance in December compared to the overall hotel industry, with supply, demand, and room revenues showing relative gains, according to The Highland Group. Occupancy experienced a milder decline than the broader hotel sector while low ADR growth and an unexpected decline in economy extended-stay RevPAR resulted in a total extended-stay hotel RevPAR decrease versus a slight RevPAR increase in the overall hotel industry. The 2.4 percent net increase in extended-stay room supply in December represents a modest rise compared to the average over the past 18 months and a slight gain over the most recent three months, the report said. Supply shifts overview December marked nine consecutive quarters with 4 percent or less supply growth, significantly below the long-term average, according to The Highland report. The 13 percent surge in economy extended-stay supply and the reduction in mid-price segment rooms are primarily attributed to conversions, with new construction in the economy segment accounting for approximately 3 percent of rooms compared to a year ago.

THE U.S. LEADS the global full-service hotel pipeline in the first quarter of 2024 with 2,272 projects and 341,854 rooms, accounting for 41 percent of all planned or under-construction hotels worldwide, according to Lodging Econometrics. Dallas and Los Angeles are among the top five cities globally in the pipeline. The global pipeline totals 15,366 projects and 2,382,195 rooms, marking a year-over-year increase of 6 percent in projects and 3 percent in rooms. LE's Q1 2024 Global Hotel Construction Pipeline Trend Report showed a record high in global room counts and a significant rise in full-service projects by the end of the first quarter. in the first quarter, there are 6,195 projects and 1,101,602 rooms under construction worldwide, the report said. Projects set to start within the next 12 months total 3,840 projects and 528,251 rooms, an 8 percent increase in projects and a 5 percent increase in rooms year-over-year. Early planning stage projects and rooms have reached all-time highs at 5,331 projects and 752,342 rooms, rising 12 percent and 9 percent year-over-year, respectively.

Looking for luxury 10 seater tempo traveller rent in Bangalore?. Yes, you are in perfect place, we Tejas tours and travels rent 10 seater tempo traveller A/C or Non-A/C with the driver. Why need to hire 10 seater TT in Tejas Travels? Tejas tours and travels are the best, affordable and comfortable travel service provider in Bangalore. Our main motto is customer satisfaction this makes us run our business successful for past 1 decade. Our main office is in hoskote and we are providing services all over Bangalore and Mysore. Kilometre reading starts from and ends in customer location for outstation trips. Eg: If a customer book outstation trip from Marathahalli, we calculate km reading starts and end in Marathahalli. Our driver will reach customer pick up point on time Our Tejas administration staffs will help you throughout your journey Our billings are very transparent For customer's safety purpose we have first aid box in vehicle and we are also having GPS tracking system fitted in our vehicle for security purpose Price rate starts from 14 to 16rs per KM Visit our website -> Login -> Book your Trip -> Enjoy your Journey

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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 OMICRON VARIANT has not good for the hospitality industry, but it hasn't been as bad as expected, which is a good sign for the future, according to HotStats. GOPPAR for November was up from the same time last year, but still down from 2019. GOPPAR for November was $55.68, down 29.4 percent from November 2019. It's also down from $68.97 in October, but according to HotStats that is not unusual for this time of year. "A typical spike in profit in October, normally gives way to a drop off in November," HotStats said. "ADR in the month was $7 higher than at the same time in 2019 after being well down in 2020. This helped drive both RevPAR and TRevPAR, which were both up triple digits over 2020, though still down considerably versus 2019." The appearance and rapid spread of Omicron, which originated in South Africa and by December was the dominant strain in the U.S., was a "noisy" intrusion, HotStats said, coming as it did while the country was still dealing with a spike from the Delta variant. However, it could turn out to "be more insipid than insidious."

VISION HOSPITALITY GROUP recently broke ground on its Embassy Suites by Hilton in Chattanooga, Tennessee. The seven-story 184-suite Embassy Suites will be developed for $54 million and includes rooftop and street-level bars and a coffee area in an open lobby. The project also includes a leasable restaurant space and 5,000 total square feet of meeting space, Vision said in a statement. Vision said it will bring an economic boost to the destination with more than 100 jobs ranging from senior management positions, guest service agents, housekeepers and others. With a construction timeline of approximately two years led by Humphreys and Associates Contractors, LLC, the hotel is expected to open in the summer of 2025. "We are thrilled to begin construction on this project in our hometown of Chattanooga, just steps from our company headquarters," said Mitch Patel, Vision's president and CEO. "This project is our first Embassy Suites hotel, and we know the brand's value-added services are a perfect fit for this location welcoming both corporate and leisure travelers." Embassy Suites by Hilton, one of Hilton's 19 brands. Amenities will include a fitness center and an evening reception. Embassy Suites by Hilton has more than 260 open hotels, with 42 properties under development. The Embassy Suites Chattanooga is one among 15 projects in Vision's development pipeline expected to open in the next two years. The company's portfolio comprises 16 properties in Greater Chattanooga and 41 nationwide, the statement added.

Zubin Saxena is the new senior vice president and country head for Hilton india. Saxena joins Hilton from Radisson Hotel Group, where he worked for more than eight years, most recently as the managing director/area senior vice president for South Asia. He is scheduled to assume his new responsibilities in January, Hilton said in a statement. Saxena has a 24-year career in hospitality, including a 4-year tenure at IHG as director of development for South Asia, Hilton said. He held senior advisory positions at Jones Lang LaSalle Hotels in india and HVS in New York. in his new role, he will oversee Hilton's 25 operational hotels in india and lead the company's expansion in South Asia with 20 properties in the development pipeline. He takes over the position from Navjit Ahluwalia, who leaves Hilton after six years.

EXTENDED-STAY HOTELS OUTPEFORMED the broader hotel industry across all performance metrics in October, marking a notably strong month for the sector, according to The Highland Group. Extended-stay supply outpaced demand, leading to a decrease in occupancy. However, the decline was less pronounced than the overall hotel industry, where STR/CoStar reported a drop in demand compared to the previous year. Furthermore, the metrics of extended-stay hotels, including ADR, RevPAR, and revenues, demonstrated stronger growth compared to their counterparts in the broader hotel industry, The Highland Group said. The 2.2 percent net rise in extended-stay room supply in October, consistent with September, represents a modest increase compared to the average over the past 16 months. However, October marked the 25th consecutive month of 4 percent or less supply growth, significantly below the long-term average. The 12 percent surge in economy extended-stay supply, coupled with a reduction in mid-price segment rooms, primarily results from conversions, as new construction in the economy segment is estimated at around 2 percent of rooms compared to a year ago, the report added.

MAJOR U.S. HOTELS firms Marriott Hotels & Resorts and Hyatt Hotels Corp. announced that they are ceasing operations in Russia due to its ongoing invasion in Ukraine. Also, AAHOA issued a statement condemning the war. The hotel companies also emphasized their efforts to ensure the safety and wellbeing of their employees and guests in both Ukraine and neighboring countries who face these 'unconscionable challenges'. "We have made the decision, effective immediately, to close our corporate office in Moscow, and pause the opening of upcoming hotels and all future hotel development and investment in Russia," Marriott said in a statement. "We have been closely monitoring the deteriorating situation in Ukraine, Russia and neighboring countries, and remain in regular contact with our teams on the ground, as we work to comply with sanctions and applicable laws. Our hotels in Russia are owned by third parties and we continue to evaluate the ability for these hotels to remain open."

ARIZONA-BASED BWH Hotels, known for brands like Best Western Hotels & Resorts, plans to expand into South Asia by introducing WorldHotels to markets including india, Bangladesh, and Sri Lanka. BWH Hotels, the company that acquired WorldHotels in 2019, is now established in South Asia through Sorrel Hospitality, the master franchisee based in New Delhi. According to indian media reports, Sorrel Hospitality will extend its presence into Bangladesh and Sri Lanka. The company expects to have around 51 hotels by the end of 2024, including 3,000 rooms once the pipeline becomes operational. All these hotels are signed in these three markets, with an additional six hotels in the india market, the report in the Economic Times said. Larry Cuculic, president and CEO of BWH Hotels, expressed the company's commitment to strengthening its presence in india and raising standards in accommodation and guest satisfaction.

Mit Shah today is CEO of Atlanta-based Noble Investment Group, a multi-million dollar company founded In his lifetime of experience growIng up In the hotel busIness. It's a story he shares with many Indian American hoteliers, but he said it's a story that bears repeatIng, a story of the American dream. Shah retells his story here for Asian Hospitality's Leadership Series, the first episode for 2024. Along with his family history, he also discussed Nobel's Investment practices, the economy In general and lessons learned from hostIng Interviews with Industry leaders for the Bharat Shah Leadership Speaker Series, named after his father, at the Hunter Hotel Conference In Atlanta. "My parents were immigrants to the United States. In the 1960s they came here for a better life and education. As they were doIng that, they had friends that found themselves In this Industry and buyIng small properties throughout the country," Shah said, addIng that his parents bought their first hotel, the WInkler Motor Inn In WInston Salem, North CarolIna In 1979. "I was 10 years old at the time, my younger brother was six years old at the time and that was the family busIness, a very common story that we hear throughout our Industry. It's an important story to contInue to tell because it's deeply rooted In the American dream."

A LAWSUIT FILED in federal court in Washington state alleges that STR, owned by commercial real estate information researcher CoStar Group, along with several major hotel companies conspired to inflate luxury hotel rates. The seven individuals named as plaintiffs in the lawsuit seek to make it a class-action filing on behalf of every person who stayed at the defendants' hotels from February 2020 until the present for an unspecified amount. CoStar and hotel companies including IHG Hotel & Resorts, Marriott international and Hyatt Hotels Corp., entered an exchange of "competitively-sensitive information about their prices, supply, and future plans" in violation of the antitrust provisions of the Sherman Act, according to the lawsuit. STR and most of the other defendants in the suit did not respond to requests for comment in time for this article, but a spokesperson for IHG said the company could not comment on pending litigation. "Teddy Roosevelt passed the antitrust laws to prevent titans of industry from price fixing in smoke-filled rooms," Steve Berman, the plaintiffs' lead attorney told Reuters, calling the defendants' conduct the "modern equivalent." The alleged price fixing happened in major cities including Boston, Chicago, Los Angeles, New York, San Diego, Denver, Washington, D.C., and Seattle. The lawsuit focuses on STR's "Forward STAR" product that was expanded into many of those markets in April after launching 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix.

THE HISTORY OF Indian immigrants In the U.S. could fill several books, but Mahendra Doshi has captured a core aspect of it with his book "Surat to San Francisco: How the Patels from Gujarat Established the Hotel BusIness In California 1942-1960." The book is, as the title says, the story of the Individuals who first left their home for a roundabout journey to the American Dream. Doshi is journalist In San Jose, California, not a busInessman himself, but he is origInally from Vadia In the Indian state of Gujarat. His family moved to Calcutta In West Bengal where Doshi earned degrees from Presidency College and the University of Calcutta before movIng to the U.S. In 1967 and eventual graduated with a master's degree from the University of Nevada, Reno. "I have never even thought of busIness. I had a degree In journalism and I did marketIng work for General Motors. That's where I made my livIng for 30 years," Doshi said. "At the same time, I pursued my journalistic impulses. I wrote for mostly all those ethnic papers, Indian ethnic papers like India Times of Chicago and India West and India Post." Doshi also published two "Who's Who among Indians" lists In 1976 and 1981. That whet his appetite for explorIng his people's history.

OKLAHOMA CITY HOTELIER Hemant Shantilal Mistry died on June 23 following an assault in his motel parking lot the previous night. Richard Lewis, 41, was arrested in connection with the attack in which police say he punched Mistry, who died from the impact. Mistry, 59, an AAHOA member, is the second indo American hotelier this year to die from on-duty violence following the murder of Pravin R. Patel, owner of the Hillcrest Motel in Sheffield, Alabama, in February. A video of the assault has gone viral on social media, showing Mistry in a white t-shirt arguing with Lewis in a sky blue t-shirt. The argument escalates, culminating in Lewis punching Mistry in the face. Mistry collapses as Lewis walks away. Police found Mistry unconscious around 10:00 pm and transported him to a nearby hospital, where he died at 7:40 pm the following day from his injuries, according to a police report.

Seabury Holidays is a trustable and recognized name in the tourism industry of Siliguri. This organization specializes on tours to Andaman and Nicobar Islands and North-East india, along with Kerala, Rajasthan and Kashmir. If you are thinking of having a comfortable, exciting and secured trip experience, look nowhere but at our different kind of packages for trips like honeymoon trips, educational or business trips etc. And the best thing is that you can get tailor made packages of your own choice for sightseeing tour in Andaman and Nicobar Islands and other destinations. The Andaman hotel-booking will be easier while you are travelling with Seabury Holidays group. Exquisite hotels near Port Blair Airport are included in our tour packages for Andaman and Nicobar Islands. Are you planning for an awesome trip for adventure or sightseeing in mesmerizing places of North-East india including Dooars, Darjeeling, Sikkim, Assam, Meghalaya, Arunachal Pradesh etc. and neighboring countries like Bangladesh, Bhutan and Nepal? We are offering excellent packages on those destinations. We are always concerned for your safety, pleasure and feeling and we are also aware of the value of your time and money. That is why we deal with reliable agencies for car rental, hotel booking, flight ticket booking etc and provide the tour packages in reasonable prices so that you can enjoy the every ounce of thrilling and joyous moments of you trip.

Seabury Holidays is a trustable and recognized name in the tourism industry of Siliguri. This organization specializes on tours to Andaman and Nicobar Islands and North-East india, along with Kerala, Rajasthan and Kashmir. If you are thinking of having a comfortable, exciting and secured trip experience, look nowhere but at our different kind of packages for trips like honeymoon trips, educational or business trips etc. And the best thing is that you can get tailor made packages of your own choice for sightseeing tour in Andaman and Nicobar Islands and other destinations. The Andaman hotel-booking will be easier while you are travelling with Seabury Holidays group. Exquisite hotels near Port Blair Airport are included in our tour packages for Andaman and Nicobar Islands. Are you planning for an awesome trip for adventure or sightseeing in mesmerizing places of North-East india including Dooars, Darjeeling, Sikkim, Assam, Meghalaya, Arunachal Pradesh etc. and neighboring countries like Bangladesh, Bhutan and Nepal? We are offering excellent packages on those destinations. We are always concerned for your safety, pleasure and feeling and we are also aware of the value of your time and money. That is why we deal with reliable agencies for car rental, hotel booking, flight ticket booking etc and provide the tour packages in reasonable prices so that you can enjoy the every ounce of thrilling and joyous moments of you trip.