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SAI LLC, LED by president Rajesh "Raj" Bhagia, recently won the 2023 Hilton Americas Development Award for New Build - Tru by Hilton in Brooklyn, New York. The 101-room Tru by Hilton Brooklyn, which opened in March, marked the brand's debut in New York city. The Hilton Development team selected 52 winners based on criteria such as quality of hotels developed and in operation, commitment to quality of projects, impact on local community and early adoption of newer brands, Hilton said in a statement. Along with the Development Awards by Brand, categories included Lifetime Achievement Award, New Developer of the Year, Conversion Developer of the Year, Multi-Brand Developer of the Year, Multi-Brand Deal of the Year and Developer of the Year by Category. "We are thrilled to celebrate our owner and development partners who are the recipients of the 2023 Americas Development Award," said Danny Hughes, Hilton's president for the Americas. "Over the last year, we've seen travel continue to grow across the Americas, creating even more opportunities for our partners to welcome guests to their hotels in exciting destinations across every corner of the region. From our legacy properties to our new developments, we are excited to see this continued growth and add even more exceptional hotels to our portfolio."

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.

PEACHTREE GROUP IS the 2023 Developer of the Year in the Focused Service category by Hilton Americas Development Awards. The yearly awards recognize the achievements of owners, development partners, and hotel teams across different categories in the Americas, Peachtree said in a statement. "We are immensely honored to have been named developer of the year by Hilton, a distinction that underscores our desire to build outstanding hotels," said Mitul Patel, Peachtree Group's principal. "This recognition highlights our unwavering commitment to creating exceptional hotels and further strengthens our partnership with Hilton. This award is a testament to our strategic approach to hotel development, which combines identifying great locations, assembling a top-tier team and maintaining a steadfast focus on quality." Peachtree Group won the Multi-Brand Developer of the Year award from Hilton in 2022, the statement added.

THE G20 NEW Delhi Leaders' Declaration underscores tourism's role in promoting sustainable social and economic development, the World Tourism Organization of the United Nations said in a statement. The G20 economies' meeting on Sept. 9 to 10 acknowledged the potential for constructing a future through development models that implement sustainable, inclusive, and equitable transitions globally, ensuring no one is left behind. The high-level discussions concluded with the launch of the Leaders' Declaration, a set of agreed-upon aims for advancing development and prosperity, the statement added. The statement recognizes tourism for its "pivotal" role in driving the achievement of the sustainable development goals and the wider 2030 Agenda for Sustainable Development.

PEACHTREE GROUP RECENTLY originated its first commercial property assessed clean energy financing in Tennessee, providing a $10.7 million loan for a Class-A office development in Nashville. Nashville's Division Street Development is developing the four-story, 75,000-square-foot project, slated for completion by October 2024, Peachtree said in a statement. "For eligible projects, CPACE financing remains one of the most attractive options to bring a project to completion," said Jared Schlosser, Peachtree's executive vice president and head of CPACE. "We are pleased to assist Division Street Development in securing the final piece needed to complete the financing puzzle for their office development."

Brent LeBlanc is the new executive vice president of business development at Peachtree Group. In this role, LeBlanc will focus on growing the company's vertically integrated investment platforms by fostering business development and collaborating with investment teams to capture new opportunities. LeBlanc joined Peachtree in 2012 to lead a growth strategy, expanding the company's footprint in the western U.S. and strengthening relationships with premium hotel brands like Marriott, Hilton, Hyatt, and IHG. During that time, he participated in more than $4 billion in real estate transactions across the enterprise, the statement said. Before joining Peachtree, LeBlanc held roles as vice president of franchise development at both Starwood Hotels & Resorts and La Quinta Inn & Suites. He has launched hotel brands and completed complex transactions with major U.S. hotel operators and developers, Peachtree said in a statement. Peachtree is led by CEO and managing principal Greg Friedman, CFO and managing principal Jatin Desai, and principal Mitul Patel.

DHRUV MANAGEMENT IS to construct a HomeTowne Studios by Red Roof in Tampa, Florida, as well as a new HomeTowne Studios in Bradenton, Florida, with its affiliate Dhruv Development. Dhruv Management is led by Vijay Patel and Dhruv Development is led by Amit Patel. Dhruv Management owns and operates two Red Roof hotels in Alabama and Florida and has four more properties in various stages of development through Dhruv Development. "We are excited to partner with Red Roof on our latest extended-stay hotels with the HomeTowne Studios in Tampa and Bradenton," said Amit Patel. "Red Roof is not just a franchisor; they are heavily invested in any franchisee partnership from the moment they sign a deal. Their assistance has been invaluable, from securing approvals to moving dirt. Thanks to Red Roof's continued commitment to hospitality fundamentals, we are confident in the future of this hotel."

The foundation for Rip Patel's interest in hotel franchise development was laid in his teen years. Patel, appointed in January as G6 Hospitality's vice president for franchise development, shares that story in this month's Leadership Series. When he was almost 16 years old, Patel and his family were developing their first franchise hotel, a Holiday Inn Express. As part of the process, they had to undergo an inspection by the franchise representative. "I just remember being so nervous and all the family being nervous. This was kind of a make it or break it for us," Patel said. "He came in and just went through everything while we're just sweating, and everything worked out. I always remembered and appreciated that particular meeting, and I thought that's something that I definitely want to do in the future." That future is now, and Patel has definite goals for his new position.

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."

NOBLE INVESTMENT GROUP has acquired two hotels in National Landing, a mixed-use development in Arlington, Virginia, near Washington, D.C. The acquisitions come days after the Atlanta-based company, led by Mit Shah as CEO bought two hotels in Savannah, Georgia. The hotels are the 162-room Hampton Inn & Suites National Landing and the 248-room Hilton Garden Inn National Landing. The neighborhoods of Crystal City, Pentagon City and Potomac Yard comprise the National Landing development, which includes of offices, residential, dining, retail, parks, bike paths, and walking trails. "National Landing is home to more than seventeen million square feet of office, a highly skilled workforce of more than 50,000 people, and an affluent residential population. Virginia's largest walkable downtown, National Landing, further benefits from billions of dollars in private and public investments," Noble said in a press release. "Most notably are the $2.5 billion Amazon HQ2 under development, which will create 25,000 new jobs in National Landing, and Virginia Tech's Innovation Campus, which is expected to drive a new era of technology for the greater Washington D.C. area."

PEACHSTATE HOSPITALITY RECENTLY selected TPG Hotels & Resorts to manage 10 properties. The contract includes eight Marriott select service hotels and two IHG Hotels & Resorts select service hotels in Georgia. Both the firms have entered into an exclusive strategic agreement for the management of additional hotels in the current and future pipeline to be developed by PeachState Hospitality which is headed by Danny Patel as president and CEO, the statement added. "PeachState Hospitality is a leading owner and developer in our industry, and we are pleased to welcome them as a new partner and these exceptional properties into our portfolio," said Tim Muir, chief development officer, TPG Hotels & Resorts. "We look forward to growing our partnership as they accelerate their development platform over the next few years."

HYATT HOTELS CORPORATION has signed franchise agreements with 3H Group and Presidio Hotel Development to open Hyatt Studios in two states. Led by founder Hiren Desai, 3H Group will introduce the studios in Mobile, Alabama, while Guneet Bajwa heads the effort for Presidio Hotel Development in Marysville, California, and both are expected to open by late 2024 to 2025. Following its April launch, Hyatt has garnered letters of interest for more than 100 Hyatt Studios, marking its inaugural upper-midscale extended-stay brand in the Americas, the company said in a statement. "Hyatt's expansion into these new markets through Hyatt Studios hotels underscores our dedication to developers, guests, and World of Hyatt members," said Dan Hansen, global head of Hyatt Studios. "We've learned that when Hyatt guests stay with a competing brand, they appear to do so for one of two reasons: the absence of a Hyatt hotel within five miles or the choice to stay at a lower chain scale. By offering Hyatt options in these fresh markets, we foster brand loyalty without internal competition and present developers with untapped opportunities."

Kimberly Midkiff is now director of franchise development and the assurance and marketing program for hihotels by Hospitality International. Prior to that, she was the vice president of development for Sonesta and Red Lion Hotels Corp. Previously, Midkiff was director of sales and operations for JDH Developers, a hospitality real estate firm, according to company. Based in Lakemont, Georgia, she will be responsible for the growth of hihotels' Scottish Inns, Red Carpet Inn, Master Hosts Inns, Downtowner Inns and Passport Inn brands in the Southeast. According to the company, she will provide sales and marketing support and training to franchisees in the area as part of the Assurance & Marketing Program.

WYNDHAM HOTELS & RESORTS recently named Amit Sripathi as chief development officer, taking over from Chip Ohlsson, who exits the company in June. Sripathi, who previously was Wyndham's senior vice president of strategic and corporate development, will head the company's North American franchise sales team. Before his tenure at Wyndham, he served as vice president of finance and capital markets at RLJ Lodging Trust, and as vice president of global investment banking at Deutsche Bank, Wyndham said in a statement. "Amit's deep experience in mergers and acquisitions and capital markets focused on the real estate and hospitality sectors at Deutsche Bank and RLJ Lodging are instrumental as we increase our focus on growing our midscale-and-above portfolio while reinforcing our leading position in the resilient select-service segments," said Geoff Ballotti, Wyndham's president and CEO. "Since joining Wyndham, Amit has demonstrated a strategic approach to growth. He's helped divest our owned and managed segments leading to a pure-play U.S. franchise business and worked with our sales teams across the country and around the world deploying over $250 million in development support for our owners. He hits the ground running, knowing what our franchise sales teams need to continue outperforming expectations."

INDIA'S KAMAH HOTELS & Resorts recently signed a $70 million agreement with Wyndham Hotels & Resorts to develop four new hotels-three in India and one in the UAE-under the Trademark Collection by Wyndham. Kamah Hotels plans to add 25 more properties globally, including in North America, over the next three years. Fine Acres Group will develop the Indian properties, while Global Branded Residences will build the Dubai project. Fine Acres, which operates in India, and international developer GBR previously created Kamah Hotels. Kamah Hotels finalized locations for lifestyle resorts in Coorg, Karnataka; Jawai and Udaipur in Rajasthan; and Al Jaddaf Waterfront, Dubai, UAE, the statement said. The partnership marks the debut of the Trademark Collection by Wyndham in the UAE, the companies said in a statement.

CALIFORNIA'S HOTEL DEVELOPMENT hit a decade-low in 2024, with just 35 new hotels and 3,798 rooms added, according to Atlas Hospitality Group. This marks a 34 percent drop in hotel openings and a nearly 40 percent decline in new rooms compared to 2023. Atlas Hospitality Group's 2024 Year-End California Hotel Development Survey attributed the decline to rising costs, high interest rates and reduced lending for new projects. "We predict the hotel construction outlook will remain weak in the near term, as investors focus on acquiring existing hotels at discounts to replacement costs," said Alan Reay, Atlas Hospitality's president.

GUJARAT JHM HOTELS, owned by the Rama family along with U.S.-based Auro Hotels, recently signed a memorandum of understanding with the government of Gujarat to develop the JW Marriott Surat Resort & Spa in Surat in the state of Gujarat, India. It is GJHM's third Marriott hotel in the city after the Surat Marriott Hotel and the Courtyard by Marriott Surat. The upcoming property will feature more than 300 guestrooms and villas, according to a joint statement by GJHM and Auro Hotels, according to a release on the Press Trust of India website. "This transformative project, backed by more than $120 million (Rs 1,000 crore) investment, aims to create jobs for 800 individuals, offer crucial infrastructure for the city's growth, and establish Surat as the commercial capital of Gujarat," said D.J. Rama, director of GJHM and president and CEO of Auro Hotels. "Aspiring to be a 'Smart City,' this strategic investment underscores Gujarat JHM's commitment to fostering inclusive development. Surat is poised to emerge as a beacon of urban advancement, seamlessly combining financial strength with technological innovation."

HILTON WORLDWIDE HOLDINGS reported net income of $422 million for the second quarter ending June 30, up from $413 million last year. The development pipeline grew 15 percent year-over-year to 3,870 hotels with 508,300 rooms, an 8 percent increase from the previous quarter. Systemwide RevPAR rose 3.5 percent year-over-year due to higher occupancy and ADR. "We are pleased to report a solid second quarter, with an increase in RevPAR of 3.5 percent, driven by growth in all segments, with particularly strong group performance," said Christopher Nassetta, Hilton's president and CEO. "On the development side, we ended the quarter with a record development pipeline, up 15 percent from the prior year and up 8 percent sequentially from the first quarter, including strategic partner hotels. Looking forward to the rest of the year, with the continued growth of our existing brands, as well as the addition of our new brands and strategic partner hotels, we expect net unit growth of 7 percent to 7.5 percent for the full year." Adjusted EBITDA for the three months ended June 30 was $917 million, up from $811 million in 2023, Hilton said. Management and franchise fee revenues increased by 10 percent year-over-year. In the US, second-quarter occupancy rose by 1.1 percentage points to 76.8 percent, ADR increased by 1.4 percent to $172.36, and RevPAR climbed 2.9 percent to $132.33.

The 73-room Red Roof Inn-Hometown Studios by Red Roof Ridgecrest and the 50-room Fairmont Breakers Long Beach in California won the Lodging Econometrics/California Lodging Investment Conference 2025 Hotel Developments of the Year Award. The hotels were recognized in the select-service/extended-stay and luxury hotel categories, respectively. Craig Sullivan, CLIC's founder and president, and Bruce Ford, LE's senior vice president and director of global business development, will present the awards during the opening session of the conference on March 5 to 6 at the Westin Long Beach, CLIC and LE said in a joint statement. For Red Roof properties, the brand collaborated with an established franchisee to repurpose an aging asset, bringing two new hotel products to a growing market.

ASIAN AMERICAN OWNED technology firm Netlink Voice LLC has acquired Phonesuite, a hospitality voice communication platform used by several hotel brands, the company said in a statement. Following the acquisition, Phonesuite and its subsidiary Phonesuite Direct, will be supported by Netlink Voice's finances, technology infrastructure and shorter development cycle. "Our plan is to keep the best of Phonesuite in place, including its strong market presence, network of resellers and integrators, and hotel industry technologists who know and understand the voice and data needs within the hotel industry," said Nilay Patel, CEO and chairman of Jackson, Mississippi-based Netlink Voice. "Important next-generation platform development will be accelerated by applying the Netlink Voice technology stack to the flagship Voiceware VoIP platform quicker and with a broader feature set than ever before. We are already developing our next-generation hospitality product," he added. Netlink Voice had been a long-time Phonesuite reseller, the statement added.