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NEWCRESTIMAGE RECENTLY ACQUIRED the TownePlace Suites by Marriott Dallas Las Colinas in Irving, Texas. It is the most recent acquisition for the Dallas-based investment firm led by Mehul Patel as managing partner and CEO, and the company plans to fully renovate the property, which opened in 1998 and was last renovated in 2014. The 3-floor, 135-suite property offers three types of guestroom: studio, one-bedroom, and two bedroom, according to NewcrestImage. It is near two major airports, Dallas Fort Worth International Airport and Love Field, and two major convention centers, the Irving Convention Center and the Gaylord Texan Convention Center. Amenities at the hotel include a fitness center and an outdoor pool. "This extended-stay property is in the heart of a high-traffic corridor that's a popular destination for both corporate and leisure travelers," Patel said. The acquisition of the TownePlace Suites is important to Marriott, said Loren Nalewanski, the company's vice president franchising for the Element, Residence Inn, Fairfield, TownePlace and SpringHill Suites brands. "Our industry is built on strong partnerships between brands and owners," Nalewanski said. "This acquisition enhances the long, valued, and successful partnership between Marriott and NewcrestImage, which has owned and operated 30 Marriott-branded properties since 2013."

THE MAJOR CHALLENGES faced by U.S. hotels are labor, the return of corporate, group and conference travel, the impact of inflation on cost lines and the energy crisis, said Michael Grove, COO of HotStats, in a recent presentation. In the same session at the International Hospitality Investment Forum, panelists debated the best metric by which to measure industry performance. While speaking during a panel session at IHIF titled "Decoding the Data", Grove said that the most pressing issue is fixed costs are being replaced by oncoming growth in the variable areas which changes the dynamic of the cost base. "One of the key items around the average rate growth is what's going to happen when the full business mix returns," Grove said. "We still have a lot more of the lower-rated business to come back-the tours and groups and the other segments. We need to look at the impact on the cost lines themselves, the expense items around the P&L and what impact inflation is having on those, what impact the labor challenge is having.

CBRE HOTELS RESEARCH has once again revised its forecast for the second half of 2022. The revision is mainly due to strong gains in the second quarter and expectations of positive growth next year. RevPAR for the second half of the year will rise to 14.7 percent year-over-year, up from the previous projection of 13.1 percent in May, according to CBRE. The reasons for the spike are a 3.5 percentage point increase in ADR and a 2.2 percentage point reduction in CBRE's demand forecast. Second quarter RevPAR reached $98.84, up 38 percent year over-year, and an all-time quarterly high at 106 percent of 2019's level. RevPAR growth was driven mainly by ADR, up 25.5 percent, followed by occupancy, up 9.9 percent.

MARRIOTT INTERNATIONAL and IHG Hotels & Resorts scored 100 on the Human Rights Campaign Foundation's 2022 Corporate Equality Index. The CEI is a benchmarking survey and report measuring corporate policies and practices related to LGBTQ workplace equality in the U.S. The index rates companies on criteria falling under four central pillars. That includes non-discrimination policies across business entities, equitable benefits for LGBTQ workers and their families, supporting an inclusive culture and corporate social responsibility. This was the ninth consecutive year for Marriott to make a perfect score on the index. This year the index included 1,200 U.S.-based companies and 242 Mexico-based companies. "Marriott International has a more than 90-year history of fostering a culture of inclusion and belonging," Ty Breland, Marriott executive vice president and chief human resources officer, said in a statement. "We are proud of this recognition for the ninth consecutive year and will continue to implement policies and programs that create a welcoming workplace for all."

THE U.S. HOTEL construction pipeline was slightly up at the end of the first quarter of 2022, according to Lodging Econometrics. Dallas was the top U.S. market for building. The pipeline stood at 5,090 projects containing 606,302 rooms, up 2 percent by projects, but down 3 percent by rooms, during the period. There are 961 projects with 128,784 rooms currently under construction in the first quarter, down 27 percent by projects and 28 percent by rooms compared to 2021, stated the latest trend report by LE. There are 1,911 projects with 223,030 rooms are scheduled to start in the next 12 months, up 2 percent by projects and 3 percent by rooms. Projects and rooms in early planning reached a record high in the first quarter, with 2,218 projects containing 254,488 rooms, up 24 percent by projects and 12 percent by rooms, compared to a year ago.

Brian Leaf is now vice president and head of internal sales for Peachtree Hotel Group's broker-dealer affiliate Peachtree PC Investors. Previously, he was vice president for capital markets. Leaf joined Atlanta-based Peachtree in 2017, prior to which he was an internal wholesaler at Inland Securities Corp. in Oak Brook, Illinois. Before then he was a property manager for Colliers International in Atlanta. He has a bachelor's degree in business administration and real estate from the University of Georgia and holds the FINRA Series 7, 24 and 63 securities licenses.

PEACHTREE HOTEL GROUP continues to restructure itself, now with two changes to its leadership. Brian Waldman, previously chief investment officer for the company is now filling the same role for the company's newly formed subsidiary Peachtree Group. Also, Jeremy Stoler joins the company as executive vice president of debt capital markets. Waldman will manage Peachtree's multi-billion-dollar investment portfolio and direct investment strategies across its operating, lending and real estate divisions, according to the company. Stoler will support Peachtree's operating companies and growth into other real estate sectors. "With Brian and Jeremy, we are fortunate to have extremely talented, respected leaders who are highly experienced and energized to drive our growth," said Greg Friedman, Peachtree's CEO and managing principal. "These announcements also come at a pivotal time for Peachtree as we further position ourselves to expand into other real estate sectors and businesses."

ALL PERFORMANCE METRICS of U.S. hotels improved in the fourth week of July and RevPAR reached an all-time high on a nominal basis during the week, according to STR. Occupancy was the highest since early August 2019 in the week. Occupancy was 72.8 percent for the week ending July 23, up from 72 percent the week before and dropped 6 percent from 2019. ADR was $158.79 for the week, up from $157.23 the week before and increased 16.4 percent from three years ago. RevPAR reached $115.59 during the week, up from $113.28 the week before and increased 9.3 percent from 2019. Among STR's top 25 markets, Orlando reported the only occupancy increase, up 2.2 percent to 81.8 percent, over 2019. San Diego (87.1 percent) led the markets in absolute occupancy during the week, followed by Oahu Island (86.2 percent) and Seattle (85.7 percent). San Diego also posted the largest ADR gain, increased 40.5 percent to $286.50, over 2019.

U.S. HOTELS REPORTED record-high monthly room rates on a nominal basis in July, according to STR. RevPAR on a nominal basis hit an all-time high during the month and occupancy was the second highest since August 2019. However, performance dipped some in the third week of August on a weekly basis, but performance improved during the week over 2019. Occupancy was 69.6 percent in July, down from 70.1 percent in June and down 5.4 percent from three years ago. ADR was $159.08 during the month, up from 155.04 in June and up 17.5 percent over 2019. RevPAR reached $110.73 in July, up from $108.64 the month before and increased 11.2 percent three years ago. At the same time, occupancy dropped to 67.3 percent for the week ending August 20, down from 68.5 percent the week before and dropped 3.9 percent from 2019. ADR was $150.96 for the week, decreased from $152.34 the week before and increased 16.7 percent from three years ago. RevPAR reached $101.59 during the week, fell from $104.30 the week before and increased 12.2 percent from 2019.

U.S. HOTEL REVENUE and profitability saw a rise in October, propelled by increased group demand across the top 25 markets, according to CoStar's October 2023 Profit & Loss data. Meanwhile, the U.S. hospitality industry also witnessed its largest year-over-year increases in GOPPAR and TRevPAR since March 2023. In October, GOPPAR reached $97.45, marking a 3.7 percent increase from the same month in 2022. TRevPAR stood at $240.74, indicating a 4 percent increase, whereas EBITDA PAR amounted to $69.60, down 1.2 percent from September 2022. Labor costs notably rose to $74.48, reflecting a 5.9 percent increase. "The top 25 markets have demonstrated an 11 percent year-to-date increase in GOPPAR, surpassing a 14 percent rise in labor costs," said Audrey Kallman, research analyst at STR. "This double-digit GOPPAR growth is over 10 times the level observed in all other markets. New York City, a prominent business-centric market, spearheaded growth in the metric across major markets both on a year-to-date and monthly basis."

INTEGRITY INTERNATIONAL GROUP, led by Tony Matharu, has acquired two properties in London: Atlas House and Crescent buildings. Atlas House, a Grade II-listed building, is situated at the junction of King Street, Queen Street, and Cheapside, while the Crescent is located adjacent to Tower Suites by Blue Orchid Hotels. Both Atlas House and the Crescent will join the Blue Orchid Hospitality brand, part of Integrity, Integrity said in a statement. Meanwhile, the company recently restructured its Garage Hotels Group, the statement said. "The recent acquisition of Atlas House and the Crescent portfolio demonstrates our continued commitment to invest in and breathe new life into London property, particularly those buildings at the end of their previous lives, ensuring that London remains the best place to live, work, visit, and invest," Matharu said. "The team at Integrity International Group has unrivalled expertise in ac

AAHOA's "HYPE OWNERSHIP-Helping Young Professionals Evolve" conference held recently in New Orleans attracted around 200 members. The event focused on fostering the growth of new hospitality industry professionals, offering educational opportunities like panel discussions, roundtables and keynotes to equip emerging hotel owners with the tools for success, AAHOA said in a statement. "The HYPE Conference allowed us to hear first-hand from our young members about their ideas and concerns regarding the future of our industry," said Tanmay Patel, young professional director for AAHOA's Western Division. "It was enlightening to hear from so many young people about their hopes and dreams for taking the work started by their parents, in many cases, and how they hope to better position the industry for future success." "The feedback we received from attendees and the interaction we saw illustrates there is a great need for our industry to nurture our connection to future leaders," said Dylan Patel, Young Professional Director Eastern Division. "Their commitment to elevate the industry to new heights is evident."

NISHANT "NEAL" PATEL assumed the chairmanship of AAHOA Friday as the culmination of the association's 2022 Convention & Trade Show in Baltimore, Maryland. More than 5,000 people attended the show, during which new officers also were elected, certain members were recognized for their service and face-to-face networking came back into style. This year's show came with less time after last year's, which was held in August due to delays from the COVID-19 pandemic. That time difference for planning was not as bad as it may seem, said Vinay Patel, outgoing AAHOA chairman, in a press conference before the show. "We start planning this convention way in advance. So yeah, our gap may be eight months from convention to convention, but this convention probably started literally in June, July or January of last year, so that time frame is still there," Vinay said. "There are always things, you pivot all the time. Especially in today's world of the pandemic. But, I think at the end of the day, the team has done a phenomenal job in putting everything together."

VIRAL "VICTOR" PATEL and Mahmood "Mike" Merchant are new members of Best Western Hotels & Resorts board of directors. Patel will represent several Midwest states and Ontario, Canada, and Merchant will represent California, Nevada and Hawaii. Patel has been a member of Best Western for more than 20 years, according to the company. He has served as a governor and as the chair of the Best Western Kentucky marketing co-op, liaising between the brand and hoteliers. He is currently the owner and operator of the Best Western Corbin Inn in Corbin, Kentucky, and will represent that state as well as Illinois, Indiana, Michigan, Iowa, Minnesota and Wisconsin. "I've witnessed tremendous growth within our brand over the years and am excited to join my fellow Board members as we move forward under Larry's leadership," said Patel. "Service is extremely important to me, and I feel grateful to have served my colleagues and community in a variety of roles over the years. I look forward to this new set of responsibilities and am fully committed to serving our hoteliers across the Midwest and parts of Canada and our hoteliers at large."

THE U.S. DEPARTMENT of Homeland Security will make available more than 64,000 additional H-2B temporary nonagricultural worker visas for fiscal year 2023. The extra visas will help the hotel and travel industries meet continuing labor shortages, according to the U.S. Travel Association. DHS also will issue its normal allotment of 66,000 H-2B visas as well as the 64,716 extra visas. The visas, which permit employers to temporarily hire noncitizens to perform certain labor in the U.S., became available at the beginning of October. Also, the agency created the new Worker Protection Taskforce to make sure the H-2B visa workers are not exploited. "The Department of Homeland Security is moving with unprecedented speed to meet the needs of American businesses," said Alejandro Mayorkas, secretary of Homeland Security. "At a time of record job growth, this full year allocation at the very outset of the fiscal year will ensure that businesses can plan for their peak season labor needs. We also will bolster worker protections to safeguard the integrity of the program from unscrupulous employers who would seek to exploit the workers by paying substandard wages and maintaining unsafe work conditions."

WITH A ROCK and roll theme, Best Western Hotels & Resorts held its annual conference in Cleveland on Oct. 28 to 30. During the event, which marked the completion of the first year of the company's former general counsel Larry Cuculic as president and CEO, the company launched a new extended-stay brand, Home by BWH. Thousands of Best Western members attended the conference, with the theme "BW Rocks 2022." Cuculic, who took over for long-time president and CEO David Kong last year, gave an update on his first year. "When my journey began in this position last year, I was anxious," Cuculic said in the first general session of the recent conference. "The honor of the position and the responsibilities are absolutely huge. Consider, though, that being anxious is actually a good thing. It's a good thing. It's a reflection of my wanting to do my best for you."

A NEW SURVEY finds that nearly three in five U.S. travelers plan to "trip-stack" this holiday season by adding another destination or trip directly following or leading up to their existing travel plans. The survey by G6 Hospitality's economy lodging brand Motel 6, also found that most travelers will be looking to try something new. The fifth annual holiday survey also found that, along with plans to trip-stack, 67 percent of respondents said that holidays are the only time when friends and family are available to travel. More than half, 52 percent, of those surveyed plan to cross an average of three state lines while on their winter trips and 46 percent plan to stay at a hotel or motel for their trips, the survey, which received response from 2,000 Americans, pointed out.

HURRICANE IAN PLOWED across Cuba and strengthened into a Category 4 storm Wednesday with its sites on central Florida, where it would kill more than 70 people before moving on to the Carolinas. Part of what made Ian so deadly was its unpredictability, as south Florida hotelier Jan Gautam witnessed. Gautam, president and CEO of IHRMC Hotels & Resorts in Orlando, said Ian hit with Category 1 force wind in the Kissimmee and Orlando area, damaging seven of his properties. That came as a surprise to many of his guests who had fled the Tampa area where Ian had been expected to hit. "This particular hurricane was supposed to hit Tampa Bay and we were not expecting it to come towards us in Orlando," Gautam said. "Suddenly, at the last moment the route was changed and most of the people from the Tampa area were staying in Orlando, so hotels in Orlando were completely full. These were the people who came from central Florida and we were actually beaten up badly."

U.S. HOTEL PERFORMANCE saw a decline in the last week of September compared to the previous week, as expected, according to CoStar. However, there was an improvement in year-over-year comparisons, particularly in occupancy due to a favorable Rosh Hashanah calendar shift. Occupancy stood at 66.7 percent for the week ending Sept.30, marking a slight decrease from the preceding week's 68.5 percent, and a 0.8 percent year-over-year rise. ADR was $157.89, down from the prior week's $164.97, but showed a 4.6 percent increase compared to the previous year. RevPAR also experienced a drop to $105.31, compared to the previous week's $112.96, yet still represented a 5.4 percent rise from 2022.

THE U.S. TOPS the global hotel construction pipeline in terms of project count, according to Lodging Econometrics. Overall, the pipeline increased 5 percent by projects and 4 percent by rooms over the same time last year with several stages of the pipeline hitting peaks by project and rooms counts. LE's most recent Global Hotel Construction Pipeline Trend Report released Thursday found the pipeline contains 14,779 projects with 2,412,736 rooms. There were 1,230,572 rooms in 6,896 projects under construction, all-time high. Another peak is in projects scheduled to start in the next 12 months with 4,599 projects and 651,133 rooms at the end the second quarter. There are an additional 3,283 projects and 531,031 rooms in the early planning stage of the pipeline. U.S. projects made up 38 percent of the pipeline with 5,582 projects and 687,801 rooms. China was second with 3,574 projects and 647,704 rooms, or 24 percent of the pipeline, meaning both countries make up 62 percent of the total pipeline.