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NEXGEN HOTELS RECENTLY acquired the Fairfield Inn & Suites by Marriott Fort Lauderdale Northwest in Tamarac, Florida. Hollywood, Florida-based AD1 Global will manage the 120-room property. Itasca, Illinois-based NexGen is led by principals Chris and Ron Patel. This marks their third acquisition of 2024, following the November purchase of the 150-room Maritime Hotel Fort Lauderdale Airport & Cruiseport in Fort Lauderdale. "We are thrilled to add the [new hotel] to the NexGen portfolio," said Chris Patel. "The Fort Lauderdale area remains a key market for us, and the Fairfield Inn brand is a good fit for both the area and our portfolio."

The Fairfield by Marriott Inn & Suites Tampa Riverview is now open in Riverview, Florida. It is owned by Riverview Hotels & Resorts LLC led by manager Singh Japinder and managed by Naples Hotel Group of Naples, Florida. The 108-room hotel is near James A. Haley Veterans' Hospital, St. Joseph's Hospital, Topgolf and Bass Pro Shops. Hotel amenities include an outdoor swimming pool, fitness center and 512 square feet of meeting space to accommodate functions of up to 40 people. "The Fairfield by Marriott Inn & Suites Tampa Riverview is a truly stunning example of the brand's contemporary look and feel, and we are pleased to introduce Fairfield by Marriott hotels in the Riverview area," said Janis Milham, Senior Vice President and Global Brand Leader, Classic Select Brands at Marriott International.

The Fairfield Inn & Suites by Marriott Dayton North is now open in Dayton, Ohio. It is owned by The Witness Group, founded by Sagar and Ohm Patel, and managed by Hotel Equities. The 100-room hotel is near The Dayton Art Institute, Rose Music Center at the Heights, Wright Patterson Air Force Base, National Museum of the US Air Force, Dayton Dragons, and the University of Dayton. It is six miles from the Dayton International Airport. Amenities include an indoor swimming pool and a fitness center. Earlier this month, TWG and HE opened the dual-brand Residence Inn and SpringHill Suites by Marriott Indianapolis Keystone in Indianapolis, Indiana, and previously opened the Home2 Suites by Hilton Carmel Indianapolis in Indianapolis.

A-1 HOSPITALITY GROUP is working with Delta Inn Hotel Group to add its leadership team and three Portland, Oregon, airport hotels to its portfolio. The deal will expand A-1's presence in the Greater Portland area to 20 hotels and 645 keys across five states, the companies said in a joint statement. The hotels include the 150-key Courtyard, 121-key Hilton Garden Inn and the 104-key Fairfield Inn & Suites at Portland Airport. A-1 Hospitality, a family-owned hotel management and development company based in Kennewick, Washington, is led by President Vijay Patel and Managing Principal Taran Patel. Delta Inn, a family-owned hotel portfolio in Portland, Oregon, is led by CEO Scott Kim.

Fairfield Inn & Suites Oklahoma City Downtown is now open in Oklahoma City, Oklahoma. The Marriott International franchise is owned and managed by Tulsa, Oklahoma-based Anish Hotels Group under its founder, President and CEO Andy Patel. The 133-room hotel is the first to open in the new downtown convention center area, adjacent to the new $290 million Convention Center set to open in September. Nearby are Chesapeake Energy Arena, Bricktown Ballpark, Myraid Gardens, and the new $140 million Scissortail Park. Amenities include a full-service bar featuring pre-prohibition craft cocktails, a fitness center, business services, and a 988-square-foot meeting space.

WOODVALE, AN ATLANTA-based private equity firm, acquired three hotels in November: the dual-branded Courtyard and Residence Inn Memphis Southaven in Memphis, Tennessee, and the Fairfield Inn & Suites Atlanta Buford Mall of Georgia, Atlanta. The 163-key Memphis hotels were purchased from Chartwell Hospitality, while the 96-room Georgia hotel was acquired from Hotel Equities. Woodvale is led by Founder and Managing Partner Rahim Charania. Hunter Hotel Advisors Chief Operating Officer Lee Hunter, along with Senior Vice Presidents David Perrin and Tim Osborne, facilitated the deal. Terms were not disclosed. The dual-brand hotels in DeSoto County, Memphis, are located near Downtown Memphis, the Beale Street Entertainment District, BankPlus Amphitheater, Baptist Memorial Hospital, St. Jude Children's Research Hospital, and the University of Memphis. The hotels cater to both leisure and business travelers, offering fitness centers and pools.

OFFICIALS OF THE "She Has a Deal" annual hotel investment pitch contest announced the five teams selected to advance to the final round of SHaDPitch 2023. The competition allows early career women to compete for the prize of $50,000 of equity in SHaD's Prosperity Fund I, following the conclusion of a virtual, preliminary round of pitching, SHaD said in a statement. SHaD 2023 will be held at the new Marriott Headquarters in Bethesda, Maryland, on April 27 to 28. According to the statement, the goal of SHaD is to increase the number of women owning and developing hotels. It provides participants with the ability to source, analyse, raise capital and close hotel real estate investment deals. During the preliminary judging round, eight teams comprising 15 participants pitched their hotel investment acquisition or development projects live on Zoom to a judging panel of hotel business executives, entrepreneurs, and investors. The judges evaluated and selected the following five teams: Sydney Young and Rachel Nicholson with SpartanStone, graduates of Michigan State University, pitching a La Quinta Inn & Suites in Lewisville, Texas. Chandler Williamson with Chanders Core Commitment, graduate of North Carolina Central University, pitching a Hilton Garden Inn in Raleigh/Durham, North Carolina. Isabella Suffredini, Veronica Lewis and Alexandra Neoman with CROWN, graduates of Cornell University, pitching a TownePlace Suites in Houston, Texas. Makenna Price with Hookipa Hospitality, graduate of Washington State University, pitching a Fairfield Inn & Suites in Ft. Lauderdale, Florida Allison Busch and Hannah Takekawa with AH Hospitality, graduates of San Diego State University, pitching a Staybridge Suites in Austin, Texas "Every year, I grow more encouraged that we are making an impact," said Tracy Prigmore, founder of SHaD. "These are brilliant women who benefit from the education and programming that SHaD provides, and their hotel investment acumen has grown by leap

HUNTER HOTEL ADVISORS secured $60.2 million in financing for seven hotels, with loans ranging from $5.73 million to $12.8 million and up to 85 percent financing. Prada Hotels, led by CEO Hemal Patel and Lotus Hospitality Investments used the financing to support their expansion. The financing includes SBA 7(a) and 504 loans for: JLL report highlights strong investment opportunities in select-service and extended-stay hotels for 2025, driven by high demand and stable returns JLL: Select-service, extended-stay hotels offer stable returns Extended Stay America Washington D.C. Chantilly Airport, Virginia Extended Stay America Washington D.C. Chantilly, Virginia Candlewood Suites Louisville Airport, Kentucky Candlewood Suites Indianapolis Airport, Indiana Staybridge Suites Denver Tech Center, Colorado Residence Inn Lake Charles, Louisiana Fairfield Inn & Suites Atlanta Vinings/Galleria, Georgia "The year 2024 ended on a strong note and a tailwind propelling us into 2025," said Adeel Amin, Hunter's senior vice president, capital markets. "A renewed appetite for traditional bank loans is emerging, particularly from local institutions, while innovative structures like variable-rate SBA 504 programs are also gaining traction. As the market finds its footing in this evolving landscape, lending is increasingly dictated by debt-service coverage ratios. Consequently, government-backed loans are poised to remain a critical component of the financing landscape for loan requests requiring maximum leverage up to 80 percent or low DSCRs."

TWO HOTELS HAVE joined Hospitality Lodging Systems' AmeriVu brand. One is a 61-room former Fairfield Inn in Grand Forks, North Dakota and the other is an 80-room former Super 8 in Aberdeen, North Carolina. The new additions bring the number of AmeriVu properties to 23 operating in nine states, according to HLS. The AmeriVu brand was started in 2015 by Nick Rai, CEO of Vishav Hotels, who signed a long-term exclusive licensing agreement with Atlanta-based HLS in 2016. "In today's uncertain economy and recovering hotel environment, hotel owners want lower costs, higher profits, and more peace of mind," said Doug Collins, Chairman and CEO of HLS. "Our brands effectively deliver dependable results."

NEWCRESTIMAGE RECENTLY ACQUIRED the TownePlace Suites by Marriott Dallas Las Colinas in Irving, Texas. It is the most recent acquisition for the Dallas-based investment firm led by Mehul Patel as managing partner and CEO, and the company plans to fully renovate the property, which opened in 1998 and was last renovated in 2014. The 3-floor, 135-suite property offers three types of guestroom: studio, one-bedroom, and two bedroom, according to NewcrestImage. It is near two major airports, Dallas Fort Worth International Airport and Love Field, and two major convention centers, the Irving Convention Center and the Gaylord Texan Convention Center. Amenities at the hotel include a fitness center and an outdoor pool. "This extended-stay property is in the heart of a high-traffic corridor that's a popular destination for both corporate and leisure travelers," Patel said. The acquisition of the TownePlace Suites is important to Marriott, said Loren Nalewanski, the company's vice president franchising for the Element, Residence Inn, Fairfield, TownePlace and SpringHill Suites brands. "Our industry is built on strong partnerships between brands and owners," Nalewanski said. "This acquisition enhances the long, valued, and successful partnership between Marriott and NewcrestImage, which has owned and operated 30 Marriott-branded properties since 2013."

HAWKEYE HOTELS AND HOS Management recently sold three hotels in the Savannah, Georgia, area for approximately $100 million. Both companies have plans to continue to expand their development pipelines. The Montford Group and Opterra Capital purchased the Aloft Savannah Airport while Mission Hill and KSL Capital Partners bought the Fairfield Inn & Suites Downtown Savannah Historic District and the Aloft Savannah Historic District, according to Hawkeye, which is led by Ravi Patel as president. All three hotels have more than 400 rooms and each were developed by Savannah-based HOS and Hawkeye Hotels in the last 24 months. HOS and Hawkeye together have more than 40 hotel projects in the pipeline, including more than a dozen projects starting construction this year. Both have been actively buying and selling multiple assets in addition to developing new hotels, and last month Hawkeye opened The Le Meridien St. Louis Downtown in St. Louis.

PEACHTREE GROUP RECENTLY surpassed $2 billion in hotel development, with 48 hotels nationwide, including 10 in qualified opportunity zones. The company is expanding into urban infill markets through underwriting, project management, local partnerships and larger investments. The Atlanta-based company began developing hotels 17 years ago with a $10 million Fairfield Inn in Alabama, focusing on suburban, highway and tertiary markets in the Southeast and Midwest, Peachtree said in a statement. Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO; and Mitul Patel, principal. "Our early projects taught us how to build efficiently and effectively, setting the stage for the more complex developments we're delivering today," said Friedman. "From suburban mainstays to urban landmarks, our team's adaptability and expertise have been key to our success."