Group items tagged

THE U.S. HOTEL construction pipeline dropped 8 percent by projects and 10 percent by rooms in 2021 when compared to 2020, according to Lodging Econometrics. However, the number of projects in the early planning stage is rising, it added. The total construction pipeline at the fourth quarter of last year stood at 4,814 projects containing 581,953 rooms, according to LE. There were 2,021 projects containing 239,816 rooms in the early planning stage, up 18 percent by projects and 11 percent by rooms, LE data shows. According to LE, 1,821 hotel projects containing 210,890 rooms are scheduled to start construction in the next 12 months. As many as 972 projects containing 131,247 rooms under construction finished the year. "New project announcements are down in the fourth quarter. However, developers are eager to accelerate projects long-delayed by the COVID-19 pandemic. Unfortunately, they face some development roadblocks, including escalating inflation and supply chain shortages, that are causing higher prices versus 'pre-pandemic' costs for labor and materials," LE said. "These factors continue to prolong hotel development timelines. We anticipate these challenges to abate throughout the year and see construction starts to moderately improve."

Tracy Prigmore is the new member of the board of directors for the Castell Project, a not-for-profit that promotes women in the hospitality industry. She is the founder of real estate and development firm TLTsolutions. In 2019, Prigmore began "She Has A Deal," a competition designed to increase hotel ownership and development by women by providing education, networking and investing opportunities. The competition's pitch challenge creates a network of women hotel owners and developers. Vinay Patel, AAHOA vice chairman and president of Fairbrook Hotels in Chantilly, Virginia, is on the advisory board for "She Has a Deal." Prigmore expanded TLTsolutions in 2014 to invest in residential, multifamily and hospitality projects that allowed individuals, families and entities to obtain passive income through investing. The firm has assets in four states. Previously, Prigmore held executive positions in the healthcare industry.

THE U.S. TRAVEL Association and Tourism Diversity Matters formed a new strategic partnership to focus on issues related to diversity, equity and inclusion (DEI), a statement from USTA said. The partnership will provide USTA more access to Tourism Diversity Matters' subject matter expertise, research and resources. Founded in 2021, Tourism Diversity Matters addresses blind spots in ethnic disparities within the tourism and events industries. It will provide these industry leaders with resources and tactics to develop more effective DEI strategies to engage, recruit and retain a diverse workforce. DEI is a core priority of USTA, the association said in a statement, and is committed to having a vital role in affecting lasting change and supporting the development of industry-wide DEI plans. The partnership will advance workforce development issues and federal policy initiatives that support travel's recovery, the statement added. "USTA has a clear vision: in working closely with Tourism Diversity Matters, we aim to help the travel sector achieve a truly diverse, equitable and inclusive industry for all," said Roger Dow, USTA's president and CEO and a board member of Tourism Diversity Matters. "Aligning with Tourism Diversity Matters is a great step toward this pursuit that will enrich USTA's membership for years to come."

HILTON IS ONE of the largest hotel companies in the world, known usually as parent company to higher end brands, such as Hilton Garden Inn and Canopy by Hilton. Now, the company is moving into the "premium economy" segment with its new brand, Spark. Spark will include several features meant to appeal to owners, according to Hilton, primarily by providing the company's reservation network, business model and commercial engines. It also includes supply chain management, a cost-effective pricing model and automated customer offerings such as digital check-in and Digital Key. "Spark by Hilton was developed in close collaboration with our developer community, and we are thrilled by the positive feedback and excitement we have received to date," said Alissa Klees, brand leader, Spark by Hilton. "In fact, we already have more than 100 deals in various stages of development across the U.S., with the first properties anticipated to open this year." Each hotel will feature colorful exterior walls and artwork. The public space will feature multi-functional seating, such as communal tables and rocking chairs, for guests to eat breakfast, socialize or work throughout the day. Guest rooms will have practical amenities, including an open closet, in-room refrigerator, multi-purpose work surface and bathroom. To ensure a consistent, quality guest experience, each hotel will be required to complete a full renovation, encompassing all guest-facing areas of the hotel, prior to joining Spark by Hilton. The new brand will fill a certain niche, said Matt Schuyler, Hilton's chief brand officer.

Phil Norman is executive vice-president of people resources and development for third-party hospitality management company Twenty Four Seven Hotels. Previously, he was chief human resources officer with Canyon Ranch where he operated human resources functions for 1,840 U.S. employees across hotels and cruise ships. Norman will provide oversight for talent management, including leadership development, organizational capability and change management in this newly created role, the company said. He also held similar positions as human resources director at the Homestead, America's oldest resort property dating to 1766, and the Arizona Biltmore Resort & Spa, where he oversaw 1,250 team members, while ensuring safety and building an inclusive environment. "With 35 years of hospitality human resources experience, Phil is the ideal candidate to take over our people resources and development team as well as provide immediate support to our on-property teams," said David Wani, CEO for Twenty Four Seven Hotels. "His performance at both the hotel and corporate levels has been amazing, creating workplaces where every associate is gratified by their work and where they feel they belong. Phil's reputation of aligning systems and processes and his focus on workplace culture create the potential for exceptional stakeholder returns and in turn support the growth of the company."

VISION HOSPITALITY GROUP recently broke ground on its Embassy Suites by Hilton in Chattanooga, Tennessee. The seven-story 184-suite Embassy Suites will be developed for $54 million and includes rooftop and street-level bars and a coffee area in an open lobby. The project also includes a leasable restaurant space and 5,000 total square feet of meeting space, Vision said in a statement. Vision said it will bring an economic boost to the destination with more than 100 jobs ranging from senior management positions, guest service agents, housekeepers and others. With a construction timeline of approximately two years led by Humphreys and Associates Contractors, LLC, the hotel is expected to open in the summer of 2025. "We are thrilled to begin construction on this project in our hometown of Chattanooga, just steps from our company headquarters," said Mitch Patel, Vision's president and CEO. "This project is our first Embassy Suites hotel, and we know the brand's value-added services are a perfect fit for this location welcoming both corporate and leisure travelers." Embassy Suites by Hilton, one of Hilton's 19 brands. Amenities will include a fitness center and an evening reception. Embassy Suites by Hilton has more than 260 open hotels, with 42 properties under development. The Embassy Suites Chattanooga is one among 15 projects in Vision's development pipeline expected to open in the next two years. The company's portfolio comprises 16 properties in Greater Chattanooga and 41 nationwide, the statement added.

Matthew Hostetler, chief development officer at Red Roof, has been operating outside his wheelhouse for about 18 years now. In this installment of Asian Hospitality's Leadership Series, he explains how he does it all with a smile on his face. Hostetler was at the Hunter Hotel Conference in March in Atlanta when he took time to talk about his history in the hotel business along with the current status of Red Roof. Topics also included AAHOA's 12 Points of Fair Franchising, the company's preparations for possible economic headwinds this year and the success of Red Roof's newest brand. Same job, different industry In 2002, Hostetler was recruited by Cendant Hotel Group, which is now Wyndham Hotel Group, to conduct franchise sales under Phil Hugh, who was at that time senior vice president for franchise sales. That was when he stepped out of his comfort zone. "I said yes to an opportunity that was way, in sales was not outside of my wheelhouse, but outside of my industry," Hostetler said. "I was in transportation for 15 years before that. So yeah, that definitely outside the wheelhouse." In 2014, he joined Red Roof as the senior vice president of development, again working under Hugh. In 2020, when Hugh left the company, Hostetler became chief development officer. Now he's settled into the job. "I love the hotel business. I love hospitality. I love the people in this business, how they are so entrepreneurial," Hostetler said. But there's also so people oriented as well. That's what attracts talent so much right? Hospitality. Everyone has a smile on their face most of the time."

Sameer Nair is the new senior vice president of equity asset management at Peachtree Group. In this role, he will manage and implement asset oversight for Peachtree's real estate portfolio and preferred equity investments. Previously, Nair held the position of senior vice president of acquisitions and development at Hospitality Ventures Management Group, focusing on sourcing equity, debt, and third-party management opportunities, Peachtree said in a statement. Nair is an experienced asset manager with development and transactional expertise, Peachtree said. "Over the past decade, Sameer has been instrumental in the growth of some of the most respected companies in the hospitality industry," said Brian Waldman, Peachtree Group's CIO. "He has led multiple acquisition, development and investment efforts throughout the country, which gives him a deeper perspective of the industry and market."

Katherine Minnock is now director of investments for Noble Investment Group in Atlanta. Owen Berry is the company's new development manager. Both new hires will support the expansion of Noble's investment platform, according to the company, which is led by Mit Shah as CEO. Prior to joining Noble, Minnock was director of development for the U.S. and Asia Pacific at Starwood Capital affiliate SH Hotels & Resorts. Prior to that she held leadership roles at BRE Hotels & Resorts, a Blackstone company, and Hilton. Minnock has a bachelor's degree in hotel administration from Cornell University, where she serves as a board member of the Cornell Hotel Society. In her new role, she will oversee acquisition and development strategies across Noble's investment platforms. "Katie's addition to our team supports Noble's commitment to recruiting top talent as we continue to expand the depth and breadth of our hospitality investment strategies," said Dustin Fisher, Noble's senior vice president.

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.

REAL ESTATE INVESTMENT management firm Noble Investment Group partnered with Host Hotels & Resorts to tap and expand travel, leisure and hospitality opportunities, a statement said. As part of the initiative, Host will invest $150 million as a limited partner in an existing Noble investment vehicle and provide Noble with first-look at select-service and extended-stay hotel opportunities sourced through Host's channels. Host also will become a minority investment partner in Noble's fee-based asset management business, according to Noble's press release. "As we continue to expand our institutional investment management platform, this strategic partnership further augments Noble's ability to develop, source, and execute innovative growth strategies in travel, leisure, and hospitality," said Mit Shah, Noble's CEO. According to the statement, the partnership will combine Noble's operational expertise and development acumen with Host's scale, market insights, data analytics, and breadth of resources. They aim to source differentiated investment strategies including property technology solutions, development, and alternative lodging.

IN MARCH, THE U.S. celebrated the achievements and history of women as part of Women's History Month. In recognition of the month, some hotel companies introduced or continued programs aimed at increasing women's role in the industry. In line with the Women's History Month theme this year "Celebrating Women Who Tell Our Stories," Choice Hotels International kicked off its "HERtels at Choice Development Seminar" with nearly 40 franchise owners, general managers, and hotel associates in attendance. At the same time, Wyndham Hotels & Resorts' "Women Own the Room" initiative has signed over 30 hotels across the U.S. and Canada in the first year of its launch. Also, California hotelier and philanthropist Sunil "Sunny" Tolani issued a special message for the month. HERtels by Choice Choice Hotels took the recently held Hunter Hotel Conference in Atlanta as a launch pad for its inaugural HERtels seminar. The event was held next door to the Marriott Marquis Atlanta, Hunter's venue, and is an enhancement of Choice's HERtels program that was launched in 2021. "While industry-wide parity is improving, with more female investors, directors, and leaders in hospitality than ever before, women entrepreneurs still face significant economic and societal barriers when it comes to hotel ownership and development. As an industry, we owe it to the next generation of hoteliers to change this statistic," said John Lancaster, vice president for emerging markets, franchise development and owner relationships, Choice Hotels International. "This initiative and the invaluable resources it provides is a natural extension of our industry-leading emerging markets program and our enduring commitment to helping growth-minded entrepreneurs further their unique ownership journey."

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

THE AMERICAN HOTEL & Lodging Association recently announced three promotions among its leadership team. Kiersten Pearce was promoted to senior vice president for executive and strategic initiatives; Adrienne Weil was promoted to senior vice president for member engagement and services; and Kara Filer was promoted to senior vice president for strategic partnerships and business development. Pearce joined AHLA in 2018 and previously served as its vice president of member engagement and services, according to AHLA. In her new role she will develop industry initiatives that align with AHLA's strategic plan and organizational priorities. She'll also oversee the coordination of the AHLA board of directors, executive committee and associated committees, as well as operational functions, including legal. Weil previously served as AHLA's vice president of strategic partnerships and business development and led efforts to accelerate "non-dues" revenue growth from industry service providers and suppliers. In her new role, she will lead AHLA's membership team and spearhead efforts to optimize AHLA's committees and networks and ensure AHLA's differentiated value proposition remains relevant as member needs evolve.

Peachtree Group recently acquired the 180-room Hilton Garden Inn Denver Tech Center in Denver, marking its second hotel in Denver after the Element Denver Park Meadows. The company's hospitality management team will oversee the seven-story hotel located in the city's employment hub, Peachtree said in a statement. However, the financial terms of the transactions were not disclosed. "We are excited to acquire this premium-branded hotel in a growing submarket with a variety of diverse and stable demand generators," said Michael Bernath, Peachtree's senior vice president for acquisitions. "The Denver economy is well diversified, with the city gaining recognition as a burgeoning tech hub. We believe the expansion of the R-Line, increased connectivity of the area and the completion of the transformative Bellview Station development will continue to make the Denver Tech Center an attractive destination for consumers and corporations alike." Peachtree aims to further invest in the property, which was previously renovated in 2014, the statement said. The hotel is near the under-development Bellview Station, a transit-oriented mixed-use development spanning more than 50 acres. There are companies including Comcast, Oracle, Microsoft, Zoom, Charles Schwab, Fidelity Investments, Newmont Mining, and Western Union in the vicinity.

HILTON WORDLWIDE HOLDINGS aims to double its 350 lifestyle hotels by 2028, planning to add 350 more within four years, including 100 this year. Also, the company appointed Kevin Osterhaus as president of global lifestyle brands to oversee the growth, design, and development of Canopy by Hilton, Curio Collection by Hilton, Graduate by Hilton, Motto by Hilton, Tapestry Collection by Hilton and Tempo by Hilton. The growth will be supported by the addition of the Graduate and NoMad brands, Hilton said in a statement. The company added more than 50 new lifestyle hotels and approved another 100 in 2023. Additionally, this year will mark the debut of Hilton's 400th property in this category. "As we celebrate the 10th anniversary of Hilton's entry into the lifestyle segment, we look ahead to even more rapid growth with a powerhouse lineup of brands that will meet the needs of developers and guests alike in some of the world's most desirable locations," said Kevin Jacobs, Hilton's chief financial officer and president, global development. "The recent addition of the Graduate and NoMad brands to our lifestyle and luxury lifestyle portfolio will accelerate our growth as we look for more opportunities to deliver the exceptional experiences guests want in the world's top hotel destinations."

WYNDHAM HOTELS & RESORTS recently signed a 10-year development agreement with Reside, a residential hospitality management company, to launch five residence-style hotels, either open or under development, in the Wyndham portfolio. The franchise agreement marks the debut of the "Wyndham Residence" tier in the U.S., with plans to expand across the top 50 markets. The properties will expand Wyndham's position in the extended-stay segment, along with its existing brands: ECHO Suites Extended Stay by Wyndham, Hawthorn Extended Stay by Wyndham and WaterWalk Extended Stay by Wyndham, the companies said in a joint statement. "Reside has a proven track record as one of the most successful names in corporate housing," said Amit Sripathi, Wyndham's chief development officer. "Whether you need a comfortable place to live for a prolonged time or you simply need more space while traveling with a larger group, Reside's model expands our extended-stay offerings, delivering premium, professionally managed accommodations in locations we know guests want to visit. By tapping into Wyndham's distribution network, we help unlock new demand generators that can help scale their business to the next level."

WYNDHAM HOTELS & RESORTS reported growth in net rooms and its development pipeline for the third quarter. Global systemwide rooms increased 4 percent year-over-year, with 1 percent growth in the U.S. and 8 percent internationally. Global RevPAR rose 1 percent in constant currency compared to 2023, with a 1 percent decline in the U.S. and 7 percent growth internationally. The company's adjusted net income for the third quarter was $110 million, a 1 percent decrease year-over-year but a 3 percent increase on a comparable basis, Wyndham said in a statement. "Our teams delivered exceptional results, executing our growth strategy and achieving 7 percent growth in comparable adjusted EBITDA, driven by system expansion, higher royalty rates, and increased ancillary revenues," said Geoff Ballotti, president/CEO. "We awarded 10 percent more franchise contracts domestically, driving 5 percent growth in our development pipeline. Stabilizing RevPAR trends and increasing infrastructure demand are expected to lead to improved results in the coming quarters. We remain focused on delivering value to our guests, franchisees, and shareholders, having returned nearly $380 million year-to-date through dividends and share repurchases."

PEACHTREE GROUP RECENTLY received I-956F approval from the U.S. Citizenship and Immigration Services, the agency overseeing the EB-5 Immigrant Investor Program, for developing a Home2 Suites by Hilton in Boone, North Carolina. USCIS adjudicated the I-956F petition for the hotel development in five months, Peachtree said in a statement. "It is a testament to the due diligence of the Peachtree team that it was able to get the project approved so quickly, especially when the published processing time is over 15 months," said Adam Greene, Peachtree's executive vice president of EB-5. The company, led by Greg Friedman as CEO and managing principal, Jatin Desai as managing principal and Mitul Patel as principal, originated $21.7 million in fixed-rate construction financing over a five-year term for Narsi Properties to develop the 105-room Home2 Suites near downtown Boone, Peachtree said. Narsi Properties is led by Deven, Neel and Rupal Patel as principals.

ATRIUM HOSPITALITY MARKED the graduation of the inaugural class of WomenRISE, its female hotel general manager development program, which ran from February to October this year. The program helps women advance their careers through mentorship, resources and growth opportunities. Meanwhile, the selection process is underway for the next group of future GMs, set for career development in 2025, Atrium said in a statement. "Atrium's first year to offer our innovative WomenRISE program has been highly successful," said Anneliesse Cooper, Atrium Hospitality's chief human resources officer. "WomenRISE participants, instructors and mentors overwhelmingly agree that the investment in time and resources is hastening the career paths of women in hospitality. Through virtual group classes, individual interviews and 360-degree assessments for identifying strengths and areas for development, Atrium's WomenRISE 2024 class participants received focused training and mentoring to confidently move forward in their hotel career journeys."