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HOLIDAY INN EXPRESS brand from IHG Hotels & Resorts has reached a milestone of more than 3,000 hotels across the globe, a statement said. The brand accounts for more than a third of IHG's global pipeline, and nearly 650 properties are expected to open in the coming years. According to the statement, Holiday Inn Express opened 100 new hotels every year and now offers 300,000 rooms in 2100 cities. Columbus, Georgia-based RAM Hotels, owns four Holiday Inn Express properties and Mitesh "Matt" Patel, executive vice president, described it as a power brand. "Holiday Inn express is and has always been a power brand. It performs very well in the markets we own them in," he said. "We always set Hampton as a benchmark for our Holiday Inn Express and tend to drive comparable RevPAR to Hampton Inn brand. Our Holiday Inn Express did very well during the pandemic and recovered within two to three months post pandemic."

SATORI COLLECTIVE, A real estate investment management firm specializing in hotel properties, sold the 124-suite Holiday Inn Express & Suites at Alpharetta-Windward Parkway to Bukhari Group Hospitality. The sale resulted in an approximate 24 percent internal rate of return and a double equity multiple for the company, Satori said in a statement. Satori Collective is led by Andy Chopra as co-founder and managing partner. Bukhari Group Hospitality is led by Syed Bukhari, while his son Mehboob Bukhari is in charge of the hotel operations. "We acquired this all-suite property in 2013 and promptly executed a thorough, multi-million dollar value-add renovation, repositioning it as a Holiday Inn Express & Suites by IHG," said Samir Yajnik, CIO of Satori Collective. "Over the past decade, we stayed true to our vision and were rewarded by unlocking the hotel's financial potential. Our initial underwriting and research proved accurate, as evidenced by the realized upside from enhanced brand quality and the hotel's unparalleled location in the thriving Alpharetta market."

WAYSIDE INVESTMENT GROUP of Houston, Texas, will manage the Holiday Inn Express & Suites in Katy, Texas, in collaboration with Southwest Hospitality Management. The hotel will undergo a complete Formula Blue multimillion-dollar renovation. Wayside, led by Miraj Patel as president, has added three hotels this year to its purchasing, development and management services. The 98-room Holiday Inn is near the Golf Club at Cinco Ranch, TopGolf Houston, Katy Mills Mall and CityCentre. "The addition of the Holiday Inn Express & Suites Katy demonstrates our focused growth in our local Houston-area market and provides us the opportunity to launch our collaboration with Southwest Hospitality Management, which will provide our companies the resources to grow our footprint," Patel said.

ATLANTA-BASED BANYAN Investment Group has completed the sale of the 112-room Holiday Inn Express & Suites Bluffton at Hilton Head Area in South Carolina, to Trishul Hospitality, the company said. The transaction, for an undisclosed amount, generated a 24 percent internal rate of return and a 3.3x equity multiple for Banyan. "We purchased the Bluffton Holiday Inn Express & Suites back in 2014 with the idea that this South Carolina coastal submarket was poised for long term growth. We were confident Bluffton would evolve into a tourist destination, aided by its proximity to several year-round destinations such as Hilton Head Island, South Carolina; Savannah, Georgia; and Charleston, South Carolina," said Samir Yajnik, principal and EVP of investments, Banyan Investment Group. "Our underwriting and research at that time proved to be correct given Beaufort has become the fastest growing town in Beaufort County, South Carolina, with its population having grown by more than 124 percent in the last decade.

MAYA HOTELS RECENTLY celebrated the 25th anniversary of its first ground-up hotel, Holiday Inn Express & Suites Belmont in Belmont, North Carolina. The event marked the hotel's evolution from a 65-room establishment in 1999 to a modern 92-key hotel, while showcasing original site plans, franchise approval letters, snapshots from the 1999 grand opening and earned awards over the years. IHG Hotels & Resorts representative Jason Miller, local government officials, along with associates, community members, vendors and investors attended the event. "We came to the United States with nothing, but we knew one thing - this is the land of opportunity," said Baldev Thakor, Maya Hotels' cofounder. "We knew we wanted to build a Holiday Inn Express in this community and we knew there were many guests not being served," J.D. Deva, Maya Hotels cofounder, said. "Here we are, 25 years later, and it has been a remarkable journey."

HAWKEYE HOTELS IS making its premier in downtown Milwaukee with a dual brand Home2 Suites by Hilton and Tru by Hilton along with a neighboring Holiday Inn Express. The hotel campus will employ more than 100 workers and provide a total of 331 rooms. The 115-room Home2 Suites and 100-room Tru will occupy one of the two buildings in the campus with the 116-room Holiday Inn Express next door. Along with being the first properties Hawkeye Hotels has opened in the city's downtown, each hotel is the first of its brand in that part of the city. "We are very excited to be a part of the Downtown Milwaukee community. Although the market has slowed down in recent times due to Covid, we are extremely optimistic that Downtown Milwaukee will continue to grow in the years to come," said Jay Patel, Hawkeye Hotels development manager. "We look forward to hosting a grand opening next year once it is safe to do so."

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.

THIRD-PARTY HOSPITALITY management company Twenty Four Seven Hotels has added four California hotels to its West Coast portfolio, a statement said. A member of the Newport Beach, California-based company's executive team said it's part of a controlled growth strategy. The new properties are the 128-room Hyatt House Sacramento/Midtown, the 112-room Hyatt Place Newark/Silicon Valley, the 90-room Hampton Inn & Suites Marina and the 119-room Holiday Inn Express Chino Hills. Currently, the firm is providing pre-opening services and these properties are expected to be fully operational in December, the statement added. "We continue to expand our management footprint throughout California, with these four additions bringing our total Golden State portfolio to twenty. By focusing exclusively on the West Coast, our area operational expertise is unparalleled. This also allows for the ability to more readily share best practices and enact economies of scale," said David Wani, CEO, Twenty Four Seven Hotels. "Twenty Four Seven Hotels provides a full-suite of services, starting at the earliest phases of the pre-construction process to create advantages over companies acquiring or assuming operations at a later stage."