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THE MAJOR CHALLENGES faced by U.S. hotels are labor, the return of corporate, group and conference travel, the impact of inflation on cost lines and the energy crisis, said Michael Grove, COO of HotStats, in a recent presentation. In the same session at the International Hospitality Investment Forum, panelists debated the best metric by which to measure industry performance. While speaking during a panel session at IHIF titled "Decoding the Data", Grove said that the most pressing issue is fixed costs are being replaced by oncoming growth in the variable areas which changes the dynamic of the cost base. "One of the key items around the average rate growth is what's going to happen when the full business mix returns," Grove said. "We still have a lot more of the lower-rated business to come back-the tours and groups and the other segments. We need to look at the impact on the cost lines themselves, the expense items around the P&L and what impact inflation is having on those, what impact the labor challenge is having.

MAYA HOTELS HELD grand opening for its Tru by Hilton Mooresville in Mooresville, North Carolina. Maya Hotels is led by co-founders J.D. Deva and Baldev Thakor. The Charlotte, North Carolina-based company held a ribbon cutting ceremony on Aug. 19, though it opened in July. Attendees included Mooresville Mayor Miles Atkins and Leah Mitcham, executive director of the Mooresville Convention & Visitors Bureau. "Today's event was the culmination of many months of hard work and the collaboration with city officials, our construction team, and our Maya Hotels team members to bring this fresh, new Tru by Hilton property to the Mooresville / Lake Norman area," said Parimal Thakor, vice president of Maya Hotels. The 120-room hotel is in the Langtree Lake Norman mixed-use development in Mooresville. It is near to Lake Norman and Langtree Plantation. Amenities include mobile check-in and a fitness center. The hotel is pet friendly.

The TownePlace Suites by Marriott San Antonio Northwest at The RIM in San Antonio, Texas, opens on Aug. 17. It is owned and managed by Satesh Limited, led by Sunil Wadhwani, president. The 109-suite hotel is 15 miles from San Antonio International Airport and 20 minutes from downtown San Antonio. Nearby attractions include Six Flags Fiesta Texas, The Shops at La Cantera and the University of Texas San Antonio. Hotel amenities include an outdoor swimming pool, a fitness center and a meeting room. The hotel is pet-friendly.

The Best Western Plus Magnolia Inn & Suites is now open in Cleveland, Tennessee. The recently renovated 87-room hotel, owned by Jay Patel, is near the Ocoee River which offers recreational activities, such as white-water rafting, swimming, fishing and boating. Also nearby is the national headquarters of Church of God, national headquarters of Life Care Centers of America, a Whirlpool Corp. manufacturing plant, the Wacker Chemical Co. plant and Cleveland State Community College. Amenities include a fitness center, outdoor pool and meeting space to accommodate up to 30 people. "The Best Western brand is known for its 75-year legacy of offering the highest degree of hospitality and unmatched value, and we are proud to be one of its newest members," Patel said. "Our newly-renovated hotel, combined with our exceptional service and outstanding amenities, will exceed guest expectations as they experience all a Best Western Plus hotel has to offer, whether for work or play." In early May, the Best Western Plus Orlando East-UCF Area in Orlando, owned by PRM Hotels led by Ishwar Naran as president and CEO, opened in Orlando. The newly renovated 70-room hotel is near the University of Central Florida and other local colleges, including Strayer University Orlando East Campus and Valencia College East Campus.

THOMAS MAGNUSON, CEO and co-founder of Magnuson Hotels, stood before the House of Lords in the British Parliament last week and spoke on what hotels in the United Kingdom need to continue their recovery from the COVID-19 pandemic. Much of what he said applies to U.S. hotels as well, he said. The key to success in the U.K., Magnuson said in his address, is preserving independent hotels. "Not all hotels are the Savoy," Magnuson said. "Most hotels in the U.K. are small, family owned, and endangered." In the presentation to the Travel Technology Initiative, hosted by the Baroness Ros Altmann, Magnuson said there has been a rapid decline in the number of U.K. hotels owned by independent private businesses. In 2010, independent hoteliers represented 78 percent of the U.K. hotel industry, Magnuson said. He reported that publicly traded branded hotels combined with globalism powers have reduced the native share to 50 percent in 2022. Magnuson also said that at today's change rate, the U.K. independent hotelier share will fall to 22 percent by 2026.

ON JUNE 6, MIT Shah, founder and CEO of Noble Investment Group, will be recognized by UJA Federation of New York for his professional and philanthropic achievements. Also, Jenifer Eager has joined Noble as vice president of fund and corporate accounting. Shah will receive the award at the federation's annual Hospitality Division reception and NYU Investment Conference to be held at Marriot Marquis in New York. "We are so pleased to honor Mit this year," commented Jonathan Tisch, executive chairman of Loews Hotels and chair of UJA's Hospitality Division. "His leadership and history of giving back to the industry and community make him the perfect honoree." Shah said the UJA Federation's recognition is the realization of generations of work. "As the eldest child of immigrant parents in search of the American dream, I am honored to be recognized by my friend, Jon, and the incredible stewards of the UJA Federation," he said. "The UJA Federation inspires us to lead lives that matter and to help support those in need. It continues to have an immeasurable impact on humanity." UJA has been funding hundreds of organizations that are responding to ongoing challenges and emerging issues worldwide.

THE HOLIDAY INN Express in LaPlace, Louisiana, reopened on Jan. 17, after the owner, QHotels Management in LaPlace led by Vimal Patel, completed $5 million in repairs to damage form Hurricane Ida in September. The repairs were slowed by his insurance company's failure to pay for the work in a timely manner, Patel said. The situation also is affecting Patel's ability to repair and reopen other properties in the area. "We had to use our own line of credit, to finish the hotel," Patel said. "Five more hotels to go. They are still a work in progress. A couple of hotels will open probably next month and then a couple probably will open in sometime in April. And the last hotel will probably take some time, so maybe May or June before we can open it up." The 91-room Holiday Inn Express is near Cajun Pride Swamp Tours, The Choice Hall, YMC EVENTS Venue and the Dream Event Center.

THE GRADY HOTEL is now open in Louisville, Kentucky, after an extensive renovation by owner Vision Hospitality Group of Chattanooga, Tennessee. It will be operated by Humanist Hospitality, a division of Vision. The 51-room luxury lifestyle Grady is Vision Hospitality's most recent upscale property, such as the recently opened Kinley Chattanooga Southside in Chattanooga, Tennessee. Work began on the restoration in March 2020. "The Grady is a special project for Vision, and we are excited to see how this restored, historic building tells its story to all who step inside," said Mitch Patel, Vision Hospitality Group President & CEO. "The Grady represents Louisville's one-of-a-kind spirit and welcomes both locals and guests to experience its refined comfort and cordial service." The Grady is near the Muhammed Ali Center, Frazier History Museum and the Louisville Slugger Museum. The building originally housed a medicinal bourbon apothecary built in the late 1800s by pharmacist J.B Wilder.

WITH A GRAND procession through the streets of his home village of Sarona, India, shared online in a video, Jayanti P. "J.P." Rama left this world as a legend among his peers. The former AAHOA chairman and longtime hotelier left a legacy that will last for decades with the younger generation he mentored and inspired. Rama died Feb. 17 while visiting family in Ahmedabad, India, at the age of 74. He was co-founder of JHM Hotels, now Greenville, South Carolina-based auroHOTELS, which now is run by his son, D.J. Rama. He is survived also by his daughter, Rita Rama Patel, wife Ilaben (Laxmiben) Rama and brothers, Hasmukh "H.P." Rama, Manhar "M.P." Rama and Raman "R.P." Rama, all of whom traveled to India for the funeral. For those friends and family of Rama who could not attend the actual ceremony, Auro University in Surat, a private university founded by the Rama family and auroHOTELS, has posted a video on YouTube. Tributes to Rama also continued to come in, as seen below.

THE U.S. LED the global hotel construction pipeline in the fourth quarter of 2021, according to Lodging Econometrics. The global pipeline decreased 1 percent by projects during the period. The U.S. accounted for 35 percent of global construction pipeline with 4,814 hotels containing 581,953 rooms out of 13,770 projects containing 2,304,386 rooms in the global pipeline. The U.S. was followed by China at 27 percent of the global pipeline, and the two countries together account for 62 percent of all global projects, LE said in its latest trend report. During the fourth quarter, China's construction pipeline reached a new all-time high with 3,693 projects containing 700,567 rooms. This is followed by the UK with 313 hotels containing 48,770 rooms, Indonesia with 304 projects with 48,175 rooms, and Germany with 277 hotel projects with 48,827 rooms, the report said.

The TownePlace Suites by Marriott Amarillo West/Medical Center is scheduled to open in Amarillo, Texas, on July 30. It is owned and managed by Ram Hotels led by Kush Nathu, operations manager. The 104-suite hotel is six miles from downtown and 15 miles from Rick Husband Amarillo International Airport. Nearby attractions include Cadillac Ranch, Palo Duro Canyon State Park, Don Harrington Discovery Center, Northwest Medical Center and Baptist St. Anthony Hospital. Hotel amenities include an indoor swimming pool and hot tub, a fitness center and 1,800 square feet of meeting space.

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."

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."

U.S. HOTEL PERFORMANCE declined in the third week of December as anticipated ahead of the holidays, according to CoStar. Three key metrics-occupancy, ADR, and RevPAR-all dipped compared to the previous week. Occupancy fell to 43.9 percent for the week ending Dec. 23, down from the previous week's 54.7 percent, but demonstrated a year-over-year increase of 0.5 percent. ADR decreased to $131.97, compared to the prior week's $142.62, marking a 0.9 percent decline from the previous year. RevPAR also declined to $57.9, compared to the prior week's $77.99, indicating a 0.4 percent decrease from the corresponding period in 2022. Among the top 25 markets, Boston experienced the most significant year-over-year increases, with occupancy rising by 21.5 percent to 46.2 percent and RevPAR up by 23.1 percent to $65.68. Anaheim recorded the highest ADR increase, rising by 14.7 percent to $190.86.

U.S. HOTEL PERFORMANCE declined in the fourth week of April compared to the previous week and the corresponding period last year, as expected during Passover, according to CoStar. All key metrics, including occupancy, RevPAR and ADR, experienced a decrease compared to the previous week. Occupancy came in at 65.7 percent for the week ending April 27, down from the previous week's 66.8 percent, while marking a 1.2 percent year-over-year decrease. ADR decreased to $154.44 from $158.60, reflecting a 1.3 percent decline compared to last year. RevPAR stood at $101.42, down from $105.94 the prior week, indicating a 2.5 percent dip compared to the same period in 2023. Among the top 25 markets, Seattle reported the sole double-digit increase in occupancy, rising by 15.6 percent to 74.6 percent. Detroit, host of the NFL Draft, saw the most significant surge in both ADR, rising by 21.8 percent to $147.83, and RevPAR, increasing by 25.6 percent to $94.74.

U.S. EXTENDED-STAY hotels experienced their first quarterly decline in RevPAR since the first quarter of 2021, according to The Highland Group. In the first quarter, the segment saw a 1.6 percent drop in RevPAR, despite a 1.5 percent increase in revenues. Demand increased by 1.7 percent, contrasting with a 2.8 percent fall in total hotel demand when excluding upper upscale and luxury segments. STR/CoStar estimated that overall hotel RevPAR, excluding upper upscale and luxury segments, which have minimal extended-stay room supply, increased by 1.3 percent in the first quarter of 2024 compared to the same period in 2023. The Highland Group's 2024 First Quarter U.S. Extended-Stay Hotels report indicated that overall hotel RevPAR and room revenues declined by 1.1 percent and 0.9 percent year-to-date, respectively, excluding upper upscale and luxury segments.

VISION HOSPITALITY GROUP, led by Mitch Patel as president and CEO, recently broke ground on a dual-branded Home2 Suites and Tru by Hilton in Cleveland, Tennessee. The upcoming development, slated for completion in mid to late 2025, will comprise a combined total of 140 keys across five stories. The project will include 768 square feet of flexible meeting space and an outdoor pool, Vision Hospitality said in a statement. "We are thrilled to continue to strengthen our partnership with Hilton by expanding our portfolio with the addition of these two thriving brands and grow in a city that means so much to us," said Patel. "This development reflects our commitment to hospitality excellence and our dedication to providing our guests with exceptional service and experiences." Founded a quarter century ago, Chattanooga, Tennessee-based Vision Hospitality Group manages more than 4,500 rooms across 40+ hotels in nine states.

DHRUV MANAGEMENT IS to construct a HomeTowne Studios by Red Roof in Tampa, Florida, as well as a new HomeTowne Studios in Bradenton, Florida, with its affiliate Dhruv Development. Dhruv Management is led by Vijay Patel and Dhruv Development is led by Amit Patel. Dhruv Management owns and operates two Red Roof hotels in Alabama and Florida and has four more properties in various stages of development through Dhruv Development. "We are excited to partner with Red Roof on our latest extended-stay hotels with the HomeTowne Studios in Tampa and Bradenton," said Amit Patel. "Red Roof is not just a franchisor; they are heavily invested in any franchisee partnership from the moment they sign a deal. Their assistance has been invaluable, from securing approvals to moving dirt. Thanks to Red Roof's continued commitment to hospitality fundamentals, we are confident in the future of this hotel."

HILTON RECENTLY INTRODUCED a new North American prototype and refreshed global brand identity for its Hampton Inn and Hampton Inn & Suites brands. The prototype is scheduled for its inaugural hotel opening in early 2025, Hilton said in a statement. "With a legacy of leadership and performance spanning four decades, Hampton by Hilton continues to stand as a beacon of humanity, connecting people from around the globe and delivering a reliable and friendly stay in each one of our hotels," said Shruti Gandhi Buckley, Hampton by Hilton's senior vice president and brand leader. "As we unveil our new North American prototype and refreshed visual identity, we embark on an exciting new chapter for Hampton. This is a celebration of our core values and signifies a renewed commitment to our owners, guests and team members." The prototype is designed to adapt to various market conditions and site restrictions while improving the guest experience, the statement said. Informed by guest and owner insights, as well as design trends, these updates aim to enhance guest functionality and comfort while optimizing costs for owners in terms of building, operating, and renovating.

APPROXIMATELY 72 PERCENT of Americans are set to either maintain or increase their hotel stays in 2024 compared to 2023, according to a recent survey by American Hotel & Lodging Association. Over the next four months, around 53 percent plan overnight leisure travel, and 32 percent anticipate overnight business travel. Moreover, hotels continue to be the preferred lodging choice, with 71 percent of likely business travelers and 50 percent of likely leisure travelers favoring them. Despite a positive outlook for hoteliers, the survey, commissioned by AHLA and conducted by Morning Consult, found that inflation is preventing hotels and other travel-related businesses from reaching their full potential. Americans favor hotel stays Approximately 51 percent of respondents plan overnight travel for a family trip in the next four months, with 39 percent expressing a likelihood to stay in a hotel, the survey said. For a romantic getaway, around 38 percent are likely to travel overnight, of which 60 percent anticipate staying in a hotel.