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WEALTH HOSPITALITY GROUP recently broke ground on a dual-branded Tru by Hilton and Home2 Suites in Ruston, Louisiana. The development, set to open in early 2026, will offer 154 rooms with extended-stay options, Wealth Hospitality said in a statement. The Ridgeland, Mississippi-based Wealth Hospitality is led by Founder, CEO and Managing Principal Hiren "Chico" Patel, President and Managing Principal Mitesh "Mike" Patel and Founder and Managing Principal Bhupender "Bruce" Patel. Hiren Patel cited the area's location along I-20 and a nearby sports complex, which attracts 400,000 visitors annually, as key factors in the project's appeal. The hotel, Ruston's first dual-branded and extended-stay option, is near Louisiana Tech University and Grambling State University.

MORE WEALTH AMONG 1.5 billion people in India is driving a surge in new travelers with increased disposable income, creating significant demand for hotel rooms across the subcontinent, according to HotStats. This demand spans all asset classes, making it both easier and more challenging for developers and operators to determine what to build and operate. HotStats' latest blog reveals that India's hospitality sector is poised for growth due to its expanding economy, population and market performance. "India mirrors China's growth from 20 years ago, but a key difference emerged when India recently surpassed China as the world's most populous nation," wrote Tareq Bagaeen, HotStats' senior consultant. "While China's population is set to drop below one billion in the coming decades, India will continue growing, reaching 1.7 billion in 30 years. With a growing economy and strong market performance, India's hospitality sector is primed for growth."

Sameer Nair is now senior vice president of acquisitions and development for Atlanta-based hotel investment and management firm Hospitality Ventures Management Group. Prior to joining HVMG, Nair oversaw transactions worth more than $600 million as vice president of investments and capital markets for Delray Beach-based Kolter Hospitality, the company said in a statement. In a career span of 11 years, Nair has sourced and closed deals worth more than $350 million across Hilton-, Hyatt-, IHG-, Marriott-franchised hotels and also negotiated and restructured $1 billion of existing debt. "An industry expert with more than a decade of hospitality real estate experience, Sameer immediately brings a wealth of knowledge and industry relationships he's acquired during his decorative career thus far. His presence immediately augments and broadens our already strong bench strength, and we look forward to Sameer playing an important role in helping HVMG and our owners and investors achieve their growth goals," said Robert Cole, HVMG president and CEO.

Bradley Nelson is the new senior director of facilities at Noble Investment Group, overseeing strategic product quality and directing the capital expense program across the firm's portfolio. He transitions from Spire Hospitality, where he served as corporate director, facilities, overseeing the development and maintenance of facilities and ensuring operational efficiency and sustainability, Noble said in a statement. Nelson previously held positions at Sage Hospitality, InterContinental Hotels Group, Concord Hospitality, and Twin Tier Hospitality, the statement said. "Brad is an outstanding addition to our asset management team, bringing a wealth of experience that will help support the continued growth of our institutional investment management platform," said Steven Nicholas, Noble's managing principal, head of asset management.

Tru by Hilton in Mobile, Alabama, is now open. It is owned by the newly formed Wealth Hospitality Group in Ridgeland, Mississippi, led by co-founder Chico Patel, and managed by Integral Hospitality Solutions of Birmingham, Alabama. The 90-room hotel is near Hank Aaron Stadium, with other nearby attractions being Dauphin Street, the Gulf Quest National Maritime Museum and the USS Alabama battleship. It has access to Interstates 65 and 10.

Five Star Group affiliates, Five Star Hospitality Management and Dream Capital, recently named Justin Patel senior associate, investments and asset management and Kimberly Rowell to executive vice president. Patel was previously a senior asset management analyst at Peachtree Group while Rowell joined in February 2023. Dalton, Georgia-based Five Star Group, founded by Naren Patel in 1990, announced the changes. At Peachtree Group, Patel managed more than 20 hotels nationwide and assisting in 12 dispositions. Prior to Peachtree, he was asset manager at 33 Degrees, a commercial real estate firm. "Justin takes an insightful approach to project management, making him an invaluable member of the Dream Capital team as we continue to provide our investors with the opportunity to invest in both credit and equity investments in various asset classes in commercial real estate," said Ankit Govan, Dream Capital's managing principal and co-founder. "We remain committed to pursuing acquisition and development opportunities with well-branded hotels such as Hilton and Marriott in markets with high barriers to entry. With a wealth of asset management and investment experience, Justin is the ideal candidate to help us along the path."

NEWCRESTIMAGE HAS COMPLETED its sale of 27 hotels to Summit Hotel Properties it first announced in November. The Dallas-based company, led by Mehul Patel as managing partner and CEO, also contracted with Aimbridge Hospitality to manage the hotels and will become a minority shareholder in the management company. The initial closing includes 26 existing hotels with 3,533 guestrooms, with final closing on the currently under construction 176-room Canopy by Hilton New Orleans expected to be completed in the first quarter, according to the company. It also includes two parking structures. The transaction costs $776.5 million for the hotels, or $209,000 per key. It also includes $24.8 million for the two parking structures and $20.7 million for the various financial incentives through Summit's joint venture with Singapore-based sovereign wealth fund GIC, made in 2019 to acquire hotels in the U.S.

PEACHTREE HOSPITALITY MANAGEMENT entered into a long-term contract with Savannah, Georgia-based HOS Management to operate nine hotels. The hotels are primarily in the Southeast and are Marriott, Hilton and IHG branded. PHM will manage hotel operations in compliance with hotel brand standards, scalable operating efficiencies, digital and market initiatives and other cost saving across the portfolio, according to Peachtree. PHM is part of Atlanta-based Peachtree Group, led by Jatin Desai and Mitul Patel as managing principals. "We have a wealth of experience managing hotels and providing best-in-class operations for our valued partners like HOS Management, who have entrusted us with their hotel operations," said Patrick Short, PHM president. "With 25 percent of our portfolio third-party managed, we are committed to protecting the assets value and driving bottom lines results for our partners while providing an outstanding experience for our hotel guests."

INDIA-BASED ORAVEL STAYS, the parent company of OYO, is reportedly in talks to raise $200 million in a primary funding round, according to Business Standard. The funds are expected to support OYO's potential acquisition of G6 Hospitality, which owns the budget Motel 6 and Studio 6 chains in the U.S. Oravel Stays aims for a valuation between $4.5 billion and $5 billion, up from its previous $2.4 billion valuation, though still below its earlier $10 billion target. The company is in discussions with offshore institutional and private Indian investors to secure the funding, Business Standard reported. Among the private investors involved are InCred Wealth, J&A Partners, the Mankind Pharma family office, and ASK Financial Holdings, all of whom previously valued OYO at $2.4 billion. OYO, backed by SoftBank, has not commented on the matter.