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The Staybridge Suites in Duluth, Georgia, is now open. The hotel, owned and operated by Duluth Capital Investments led by Sonial Patel as principal, is the first Staybridge Suites in the country using the brand's new "Next Generation 7.0" design that incorporates elements to protect against COVID-19. The 99-room, 5-story hotel has more open room in its public spaces for social distancing, which is strictly enforced. It features no contact check in / check out, as well as extensive disinfecting as part of InterContinental Hotel Group's "Clean Promise" program, including completely cleaning each suite with an electrostatic sprayer. Guests select their housekeeping schedule to further avoid contact.

SAK DEVELOPERS RECENTLY acquired Staybridge Suites Tysons-McLean in Tysons-McLean, Virginia for an undisclosed amount. SAK is led by founding partners Waheed Ashiq, Vipul Kapila, and Khurram Sindhu. Hunter Hotel Advisors facilitated the sale of the 142-key, 5-story property. The hotel in downtown McLean is near Tysons Corner with numerous corporate demand generators and major government agencies, Hunter said in a statement. David Perrin, senior vice president of Hunter, represented the institutional seller.

IHG HOTELS & RESORTS recently introduced new prototype options for its three suites brands - Staybridge Suites, Candlewood Suites, and Atwell Suites - focusing on space and efficiency while maintaining key features from current designs. These prototypes are scheduled to be available by the second quarter of 2024, with the first properties featuring them expected to open as early as 2025, IHG said in a statement. Initially, the prototype designs will only be accessible to U.S. properties, with the possibility of future adoption in Canada, the Caribbean, and Latin America. "IHG continues to build on our nearly three decades of leadership in the extended-stay and suites space by evolving our prototype designs to increase owner value while offering the spaces and amenities short- and long-term travelers value most," said Kevin Schramm, IHG's senior vice president for development, mainstream brands, U.S. and Canada. "Our new concepts reflect guest and owner feedback, and enable new and existing owners to deliver our modern suite experiences-in various forms-to more markets without compromising consistency or quality."

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."

IHG HOTELS & RESORTS marked the 15th anniversary of the IHG Army Hotels military lodging program, part of the U.S. Army's Privatization of Army Lodging initiative. The program offers military guests, veterans and their families on-post accommodations under the Holiday Inn Express, Candlewood Suites and Staybridge Suites brands. Army Hotels provided more than 40 million room nights across 40 on-post installations in the U.S. and Puerto Rico since its founding in 2009, reinvesting $43 of every $100 to improve facilities and services, IHG said in a statement. "It's incredible to see the evolution of our first-of-its-kind military lodging program and our team's dedication to its success," said Chuck Sourbeer, IHG Army Hotels' vice president of hotel operations. "The program is a testament to our commitment to serving those who serve, with quality accommodations that reflect the high standards our guests expect from IHG brands. We're proud of the impact we've made on our guests and communities and the relationship we've built with the Army, and we look forward to the future of our hospitality journey."