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ROB SMITH WILL become president and CEO of Stonebridge Cos. in July. He succeeds Navin Dimond, who founded the Denver-based hotel management company in 1991 and will now serve as chairman. In his new role, Smith will lead the development and execution of the organization's long-term strategies and report to the board of directors, Stonebridge said in a statement. "I am proud of the success our team has achieved as we've built the distinct Stonebridge brand over more than 30 years-and am confident that the best is yet to come," said Dimond. "Rob epitomizes our culture of leveraging innovation and an entrepreneurial spirit to enhance value for our owners, investors and other stakeholders. His extensive, successful track record makes him the ideal person to advance our growth strategy. I look forward to working closely with Rob to take Stonebridge to the next level of growth."

The world of cryptocurrencies is rapidly expanding, with new digital assets and trading platforms emerging every day. In this dynamic environment, market makers are essential players contributing to the efficient exchange of cryptocurrencies and ensuring price stability. In this article, we will explore the concept of cryptocurrency market making and its significance in the trading landscape. We will delve into the various strategies employed by market makers to manage their positions and reduce risks and discuss the importance of their activities in fostering growth and innovation within the crypto sector. So, whether you're a casual trader or an institutional participant, read on to discover all you need to know about crypto market making. What is Crypto Market Making? Crypto market making involves specialized entities, known as market makers, who play a crucial role in the trading landscape by providing continuous buy and sell prices on digital asset exchanges. These entities help facilitate the efficient conversion of assets like the Axie Infinity coin, Solana, Monero, and others by ensuring there is always a counterparty for market participants wishing to execute trades. A market making strategy in crypto is to ensure there is enough liquidity for digital assets and they can be easily traded. It is especially important for less popular assets or those that lack trading volume on the market. In addition, market makers act as price stabilizers for popular assets like Bitcoin, absorbing excess demand and protecting against sharp price jumps.

Bob Gilbert, president and CEO of the Hospitality Sales and Marketing Association International, retired after 30 years in executive leadership roles. Juli Jones, HSMAI senior vice president, will serve as interim managing director while the association, aided by SearchWide Global and HSMAI's management company MCI, searches for the next president and CEO, HSMAI said in a statement. Gilbert accelerated his retirement due to a serious health issue. Kristin Miodonski, MCI associate vice president and HSMAI content director, will serve as interim managing director for the HSMAI Foundation, the statement said. "It is with the utmost respect that we announce the retirement of Bob Gilbert from his role of president and CEO of HSMAI," said Andrew Rubinacci, HSMAI Americas chair and chief advisory officer at FLYR Hospitality. "Bob has been a mentor and friend to so many of us in the industry and has taken the association to new heights over the course of his incredible 30-year tenure, expanding HSMAI across the globe. The association will benefit from his leadership for many years to come."

WYNDHAM HOTELS & RESORTS is quietly bouncing back after Choice Hotels International's failed takeover bid. The company reported a net income of $86 million for the second quarter ending June 30, a 22.8 percent increase from $70 million the previous year. Wyndham's global pipeline grew 7 percent year-over-year, with a 5 percent increase in the U.S. alone. Its net income increase was driven by higher adjusted EBITDA, a benefit from the reversal of a spin-off matter and a lower effective tax rate, Wyndham said in a statement. "The resilience and highly cash generative nature of our business model was once again on full display this quarter," said Geoff Ballotti, Wyndham's president and chief executive officer. "Amid a normalizing domestic RevPAR environment, we delivered strong adjusted EBITDA driven by net room and ancillary fee growth. We awarded 33 percent more hotel contracts domestically which grew our development pipeline to a record 245,000 rooms, and drove significant increases in our U.S, international and global royalty rates. Year-to-date, we've returned over $250 million to shareholders, representing 4 percent of our beginning market capitalization this year."

ONLY ONE IN five hotel professionals believe the current tech stack is sufficient for achieving efficiencies, cost savings and adequate guest care, according to a recent survey by the Hospitality Women's Innovation Council. Approximately 91 percent of survey respondents indicated that better collaboration among technology companies on integrations is needed, while 86 percent felt improved integration processes would encourage greater investment in technology. HWIC, a group of hotel brand executives, managers, and innovators, conducted the survey between May 25 and June 15, HWIC said in a statement. More than 300 owners, managers, and technologists participated in the survey. The study was supported by Visual Matrix, a PMS software developer in Richardson, Texas. "Industry professionals have confirmed that more than any other factor, collaboration is the key to driving better business results for hoteliers-collaboration among technology providers and between the providers and the hoteliers they serve," said Georgine Muntz, HWIC co-chair and CEO of Visual Matrix. "When we created the council close to a year ago, we began with the assumption that women leaders in hospitality can help improve the ways industry professionals collaborate for common ends and encourage better standardized integrations. Now that assumption has been fully validated. We look forward to sharing the council's recommendations on better integration, collaboration and advancing innovation, in the weeks ahead."

HYATT HOTELS CORP. reported an almost 85 percent growth in its global pipeline since 2017, reaching a record of 129,000 rooms. During this period, the company doubled its luxury rooms, tripled its resort rooms, and quintupled its lifestyle rooms. Pictured is a rendering of the New Andaz Miami Beach in Miami Beach, Florida. The company is expanding its brand portfolio both nationally and globally, selecting new and existing markets to enhance its network effect for owners and guests, Hyatt said in a statement. "Hyatt leading the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, Hyatt's president and chief executive officer. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners."

UNITY WAS THE theme at Sonesta International Hotels' inaugural conference in Las Vegas. Sonesta essentially completed its integration with Red Lion Hotels Corp. with the announcement of a unified loyalty program, Sonesta Travel Pass, and combined website. Approximately 1,300 attendees, including franchisees, general managers of Sonesta's corporate owned properties and employees, came to the conference and trade show at The Venetian Resort Las Vegas. Along with keynote speakers and entertainment, the conference provided updates on the company's status. "My team and I have been looking forward to this moment for months to finally be with you, to talk with you, to listen to you and your guests and to show off a little to you," said John Murray, executive vice president for The RMR Group that owns Sonesta. "Because we really do have a lot to show off. We also have a lot to celebrate. Today we're here to celebrate the transformation of Sonesta and Red Lion's histories into our future as one Sonesta."

Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts, was recognized by the UJA Federation of New York for his professional and philanthropic achievements at its annual Hospitality Division reception on June 4 at the New York Marriott Marquis. The New York event raised $600,000 to support UJA Federation's global crisis relief efforts, the Federation said in a statement. The UJA Hospitality Division committee is chaired by Jonathan Tisch, co-chairman of the board of Loews Corporation and executive chairman of Loews Hotels. "For 15 years, Wyndham has supported UJA and its work caring for those in need while fostering diverse communities," Ballotti said in January when UJA-Federation announced the recognition. "Together with my hospitality colleagues, we'll celebrate UJA's work and its impact on communities worldwide."

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.

Lisa Jordan is the new vice president of marketing at Red Roof. She will lead the development and execution of the company's marketing and digital strategies to drive business growth. Jordan joined the company in 2021 and led the integrated digital marketing team, working on the company's web, advertising, and social media platforms. Jordan played a role in enhancing redroof.com and collaborated across communication, sales, revenue management, and operations to elevate the customer experience and boost revenue, Red Roof said in a statement. "Lisa is a powerful asset on our leadership team and a secret weapon in our marketing mix," said Marina MacDonald, Red Roof's chief marketing officer. "Her promotion is right for the company and a reflection of the value she brings to this critical function, and I know that she will succeed in her new role."

MARRIOTT INTERNATIONAL RECENTLY launched "Business Access by Marriott Bonvoy," an online travel booking program for small and medium business travelers. This program combines the benefits of the Marriott Bonvoy portfolio with travel tools for booking, managing, and expensing business travel. It is available to businesses in the U.S., Canada and other countries, Marriott said in a statement. "We recognize the significant value small businesses provide to the hotel industry," said Drew Pinto, Marriott International's executive vice president and chief revenue and technology officer. "Whether small to medium-sized businesses are looking for convenient online booking capabilities for their employees or better expense management solutions, the all-in-one platform, merged with our portfolio of hotel brands around the world, provides everything they need to manage their business travel needs."

THE FIRST PROPERTY representing Wyndham Hotels & Resorts' ECHO Suites Extended Stay by Wyndham brand opened recently in Spartanburg, South Carolina. Among the attendees at the grand opening, along with executives from Wyndham and more, were the first two Indo American developers who are building upcoming ECHO hotels. Wyndham also brought on Mandeep Singh as vice president for extended stay operations, overseeing ECHO Suites and the new Waterwalk Extended Stay by Wyndham brands. Singh has a more than 20-year background in extended-stay hotels, corporate housing, serviced apartments and multi-family properties. The 124-room ECHO Spartanburg is owned by Cox Universal Group, led by Philip Cox as co-CEO and co-founder and is managed by Sandpiper Hospitality. The prototype for the all new-construction brand is designed to fit on less than two acres at 50,000 square-feet, 79 percent of which is designed for generating revenue.

PEACHTREE GROUP RECENTLY originated its first commercial property assessed clean energy financing in Tennessee, providing a $10.7 million loan for a Class-A office development in Nashville. Nashville's Division Street Development is developing the four-story, 75,000-square-foot project, slated for completion by October 2024, Peachtree said in a statement. "For eligible projects, CPACE financing remains one of the most attractive options to bring a project to completion," said Jared Schlosser, Peachtree's executive vice president and head of CPACE. "We are pleased to assist Division Street Development in securing the final piece needed to complete the financing puzzle for their office development."

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