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The Best Western Plus Orlando East-UCF Area in Orlando opened May 3. It is owned by PRM Hotels led by Ishwar Naran as president and CEO. 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. Other local attractions include Central Florida Research Park, Orange County Convention Center, Addition Financial Arena and UCF's Bounce House. Amenities include an outdoor pool as well as a 400-square-foot boardroom and 600-square-foot conference room that can accommodate up to 10 and 50 people. "The Best Western Plus Orlando East-UCF Area is ideally situated for business and leisure travelers alike, conveniently located near many popular local attractions," said Ishwar Naran, president and CEO of PRM Hotels. "Our newest hotel also offers a host of amenities and provides the perfect location for families visiting students at UCF and other local colleges. We look forward to welcoming guests to our newly-renovated property in East Orlando and providing our visitors with the unmatched value and comfort they've come to expect with Best Western."

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HAWKEYE HOTELS RECENTLY acquired the Hotel Indigo Pittsburgh East Liberty in Pittsburgh. It is the company's third hotel owned and operated in Pennsylvania. The 135-room Indigo is a restored boutique hotel in Pittsburgh's historic East Liberty Neighborhood, according to the Hawkeye. Nearby are the Carnegie Museum, Carnegie Mellon University, the University of Pittsburgh, Phipps, Heinz Chapel, St. Paul's and East Liberty Presbyterian Church. Its interior décor reflects the neighborhood's community's theater, entertainment and charitable heritage. Hawkeye closed on the transaction 21 days after executing the contract. It has recently acquired, developed and operated dozens of hotels in over 20 states across the U.S. "We continue to be bullish on the hospitality market recovery and look forward to seeking out additional opportunities to acquire hotels across the U.S.," said Parth Patel, Hawkeye's head of investments. The company is considering acquiring an upscale extended stay hotel in Erie, Pennsylvania, where it recently opened Holiday Inn.

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.

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WHITESTONE CAPITAL RECENTLY partnered with PJD Capital to purchase the 152-room Holiday Inn East Mountain in Wilkes Barre, Pennsylvania, marking the first joint venture between the two real estate companies. Whitestone Capital, a division of Whitestone Companies, is led by CEO Jay Batra, while PJD Capital is headed by CEO Prakash Datwani. The Holiday Inn East Mountain features 152 guestrooms and more than 6,000 square feet of event space, the companies said in a joint statement. "We are excited about our new partnership with PJD Capital to reposition this property into a product the Wilkes Barre community has been craving," said Batra. "We expect the transformation to happen in two phases, with the first phase starting later this year. The property will be converted to a very select class of DoubleTree Hotels. A DoubleTree in name, driven by the power of Hilton, but not a typical DoubleTree. This property will feel more like a soft brand with design centered around a community-focused, light resort feel."

The SureStay Hotel by Best Western Rockford East is now open in Rockford, Illinois. It is owned by Bankim Hirpara. The 122-room hotel is near Rockford University, Midway Village Museum, Hurricane Harbor Rockford waterpark, CherryVale Mall, Discovery Center Museum, Aldeen Golf Club and Rock Cut State Park. "We're excited to join the SureStay brand and open our doors in East Rockford," Hirpara said. "We look forward to welcoming guests to our convenient location, which is within proximity to some of Rockford's most exciting destinations. Our staff is eager to provide our guests with a stay they can be sure about."

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The Courtyard by Marriott Portland East opens Oct. 21 in Portland, Oregon. It is owned by Lodging Management Northwest LLC led by Jatin Patel as principal. The 91-room hotel is managed by InnVentures LLC of Tukwila, Washington. It is near Mt. Hood Skibowl, Timberline Lodge, McMenamins Edgefield, Multnomah Falls and Pioneer Place. Amenities include an indoor swimming pool, fitness center, fire pit and 702 square feet of meeting space. Courtyard's new room design includes a luggage drop for storing bags and the "Tech Drop" ledge provides a place for guests to plug personal devices. The rooms also feature hybrid zones for working, sleeping and getting ready.

Covington City of Virginia - The mountainside city of Covington Va is an independent city within the Commonwealth of Virginia. The Covington city lies within the confines of Alleghany County that lies along the East coast of Virginia.

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ROYAL HOTEL INVESTMENTS has broken ground for a Home2 Suites by Hilton in Covington, Georgia. The hotel is expected to open in July of 2022. Covington is 35 miles east of Atlanta and is known as "the Hollywood of the South" because it served as the filming location for many well-known movies and television shows, such as "The Walking Dead," "The Vampire Diaries," "Selma," and "The Dukes of Hazzard." "This hotel emphasizes our company's long-term commitment to the community," said Navin Shah, RHI chairman. "When our country comes back from the current COVID crisis, we will offer a safe, comfortable place for people to come together - a trusted site to collect their thoughts, rest their bodies, and gather with friends and family." The 100-room hotel will be near two other hotels operated by RHI in Covington, a 110-room Holiday Inn Express & Suites open since 2017 and a 105-room Hampton Inn open since 2009.

Aly-khan S. Merali is now president and managing partner of Stonebridge Cos. in Denver. Founder Navin C. Dimond will remain CEO and will assume chairman duties for the company. Previously, Merali was president and chief financial officer of Turnberry Associates since 2013, according to Stonebridge. Prior to that, he was executive vice president and head of acquisitions for a U.S.-based investment firm with properties in North America, Europe and the Caribbean. Merali also held leadership and ownership positions in real estate companies in the United Kingdom, Canada and East Africa with assets in hospitality, industrial, manufacturing, office and senior living. "I have known Aly-khan for many years and have the utmost respect for him and his ability to lead Stonebridge Companies as we move forward and continue to grow and prosper," said Dimond. "His background and extensive experience in the hospitality industry is impressive and makes him a perfect fit for this role."

The Home2 Suites by Hilton-Richmond is open in Richmond, Indiana. It is owned by The Witness Group led by Sachin Patel, Sagar Patel and Aakash Patel as principals and executive leadership team. It is managed by Hotel Equities of Atlanta. The 100-room extended-stay hotel is near Richmond Mall, the Indiana Football Hall of Fame, and Indiana University East. Dayton International Airport. Amenities include an indoor saline pool and electric vehicle charging stations. It is pet friendly. "The hotel staff has prioritized the health and safety of patrons by implementing HE's industry leading HEalth First standards of cleanliness and safety protocol as part of the early operations training," said David Rosenberg HE's vice president of operations. "These protocols, which are above and beyond brand standards, along with the team's delivery of superior customer service will give guests complete confidence during their stay and will position the hotel as a leader in the Richmond market."

The GLō Tulsa East Route 66 is now open in Tulsa, Oklahoma, the first of Best Western Hotels & Resorts' new-build boutique brand to open in the state. It is owned by Champion Hotels Group, led by founder Champak "Champ" Patel, and Jain Hotels led by CEO Jayesh Jain. The 70-room hotel is near the Tulsa Port of Catoosa and Tulsa International Airport. Other nearby attractions include the Tulsa Zoo, Oklahoma Aquarium, ONEOK Field, BOK Center, The Gathering Place, LaFortune Park, Rogers Point park and the Catoosa Activity Center. Hotel amenities include a meeting area and workspaces as well as a fitness center. "This hotel is the perfect addition to the Catoosa and Tulsa area," Patel said. "We are thrilled to introduce the GLō brand to Oklahoma," Jain said. "This property provides the ideal boutique look and feel with the modern amenities and service offerings today's travelers expect."

ON MONDAY THE Hospitality Financial and Technology Professionals association politely declined an offer by the American Hotel and Lodging Association to merge the two organizations. Instead, HFTP's board of directors offered to enter into a memorandum of understanding with AHLA similar to agreements it has with other associations, such as AAHOA. HFTP said in a statement that, as a global organization "with members from the entire hospitality spectrum" it would not benefit those members to merge with a localized association such as AHLA. Instead, it suggested the MOU in keeping with HFTP's agreements with AAHOA, Caribbean Hotel and Tourism Association, Hospitality Sales and Marketing Association, Hotel Asset Managers Association - Middle East, Hotel Controllers and Accountants Association of Hong Kong, National Club Association and the Association of Private Club Directors. "As a former director of AHLA, I know they do good work for the industry and their recent takeovers of HTNG and HAMA will definitely help these smaller associations," said Frank Wolfe, HFTP's CEO. "But HFTP is a global association with global brands: HITEC, PineappleSearch.com, the Uniform System of Accounts for the Lodging Industry and global certifications/certificates, not to mention our members from non-hotel segments. Our mission is education not advocacy."

VERAKIN CAPITAL, A real estate investment group, exceeded its $350 million investment milestone in the first quarter of this year. The company has made collective investments in three hotel properties that are currently in various stages of development; the Moxy in downtown Atlanta, Georgia; Hampton Inn/Home 2 in downtown Nashville, Tennessee; and Courtyard by Marriott in Pittsburg, California, the company said in a statement. Verakin, led by partners Rupesh and Bimal Patel and Hiten Suraj, is the lead developer of the Courtyard by Marriott, while the company is co-investing in the other two projects alongside RevPar Development and Emerge Hospitality Group, according to the statement. RevPar Development is a privately-owned hotel development and management company on the East Coast, while Emerge Hospitality Group is a family-owned and -operated hotel ownership, development and management company. "We are developing both on our own behalf and in joint ventures with like-minded investment groups," Rupesh Patel said. "We are seeing that newer hotels and brands are faring better than their older counterparts as travel rebounds in many markets and segments. To help satiate our investment growth appetite, we will continue to seek best-in-class partners, such as RevPar Development and Emerge Hospitality Group, who have proven track records as credible institutional investors, developers and operators." The Moxy hotel in downtown Atlanta, will feature 181 rooms spread across 13 floors and is scheduled to open mid-2026 before the FIFA World Cup. The centrally located hotel will cater to both business and leisure travelers and will offer three food and beverage options, including a roof top bar and lounge with views of the Mercedes Benz Stadium.

ZERO-BASED BUDGETING is essential for hotels amid near- and long-term volatility, according to a blog from HotStats. The blog also suggested that hoteliers need to turn to other futureproofing or future-cushioning methods. In a recent blog post, Michael Grove, COO, HotStats said that zero-based budgeting, a method of budgeting in which all expenses must be justified for each new period starting from a zero base, is very necessary given the fluidity of the global economy and, ultimately, its impact on hotel operations. At the recent 2022 M3 Partners meeting, Grove first illustrated the pandemic's effect on worldwide profits and how it's changed the landscape. "It's worth reminding ourselves of the importance and magnitude of the U.S. hotel industry's share on the global scale, which has only grown during the pandemic," Grove said in the article. According to the blog post, almost half of global profits are produced in the U.S. and that share only rose as the pandemic slackened. "A massive 47 percent of hotel profits are achieved in the U.S., up 6.6 percentage points since 2019, the result of myriad variables, including a large domestic market and staycation trend," Grove said in the post. "Meanwhile, severe lockdowns and restrictions in Europe and Asia-Pacific sent their percentages down as the Middle East received a boost in the fourth quarter 2021 from Expo 2020 in Dubai."