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CHARLOTTE-BASED MAYA HOTELS has acquired two Hampton Inn hotels in North Carolina and South Carolina. The two Hampton Inns boast a total of 210 guest rooms and are Maya Hotels' second and third acquisitions over the last six months, the company said in a statement. The hotels are the 100-room Hampton Inn & Suites Charlotte-Arrowood Road in Charlotte, North Carolina, and the 110-room Hampton Inn Columbia Northeast-Fort Jackson in Columbia, South Carolina. Maya Hotels, led by JD Deva as CEO, acquired the hotels on March 11. The Charlotte property is near Carowinds Amusement Park and Charlotte Douglas International Airport. The Columbia hotel is near U.S. Army Fort Jackson the University of South Carolina and downtown Columbia. Amenities at each hotel include outdoor pools, fitness centers, meeting spaces, and business centers. "We are excited to acquire these two top-branded assets at a discount to replacement cost," said Krishna Deva, vice president of Maya Hotels. "Charlotte and Columbia have historically been top markets for us, and we are thrilled to grow our presence in these two cities with such a strong brand affiliation." The acquired hotels complement Maya Hotels' existing footprint and will increase the current operating synergies the company has across North Carolina and South Carolina regions. The hotels will be renovated and managed by Maya Hotels. "We are so happy to continue growing our relationships with the Charlotte and Columbia communities, as well as with Hilton. We are also thankful to each of our investors and banking partners," said Deva. "The success of this transaction is a testament to our track record in the hospitality industry and our ability to adapt quickly in a rapidly changing lending environment. We look forward to bringing out the full potential of each of these properties with our hands-on management approach and the completion of major renovations at each property."

WHEN IT COMES to growing hotel revenue, size does not matter. Economy hotels and micro-inventory properties are experiencing one of the biggest booms in recent years, thanks partly to a massive resurgence in small group travel, changing economic trends, and the staying power of global "return to travel". CBRE noted economy and midscale hotels recovered to 2019 performance levels by 2021, and properties with fewer rooms may benefit from lower operating costs when compared to their big-box brethren-though they also tend to have fewer resources with which to hire revenue professionals. Revenue managers are driving the charge for better operating returns. Many are taking the lessons they learned from their success at larger hotels and applying these truths to the industry's smaller properties. These revenue managers leverage new technology and strategies, options that small hotels with smaller, cross-functional staff haven't fully embraced. However, competition among economy hotels and properties tends to be fierce, requiring new action, especially with recent economic pressures and a downward 2023 RevPAR forecast of 0.2 percent in recent data shared by Tourism Economics . Modern revenue management practices and technology can provide these hotels with many benefits and significant competitive advantages. Small hotels need to avoid the erratic rate shifts of the past and capitalize on new trends as they emerge. By embracing strong revenue management systems and discipline in these properties, operators can realize greater control over a typically inconsistent space. Room Enough for Revenue The most common misconception about revenue management's place in hospitality is that it is the domain of large or full-service hotels. This is simply not the case today. No two hotels are the same, in practice, with key differences always existing between the layout of a property, its location, third-party partnerships, and so on. Every hotel has different revenue pot

PEACHTREE GROUP RECENTLY signed a long-term agreement with Southfield, Michigan-based Group 10 Management, adding 14 hotels and 1,648 rooms to its managed portfolio. This expansion brings Peachtree's total managed properties to more than 100, primarily Marriott, Hilton, and IHG-branded hotels in the metro Detroit area, 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. "Our extensive experience in hotel operations allows us to partner with Group 10 to elevate third-party management," said Vickie Callahan, president of Peachtree's hospitality management division. "A substantial portion of Peachtree Group's portfolio is third-party managed, underscoring our commitment to delivering strong financial results for our partners and exceptional guest experiences." Peachtree's hospitality management division operates limited-, select-, and full-service hotels, primarily in the upper-midscale and upscale segments, the statement said. The division now manages 107 hotels across 27 brands, totaling 13,485 rooms in 27 states, including Washington, D.C. With the Group 10 addition, Peachtree's third-party management portfolio expands to 31 hotels.

PEACHTREE HOSPITALITY MANAGEMENT has contracted with TEKMAK Development Co., a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio. The three hotels are all in Texas. PHM will assume operations of the SpringHill Suites Dallas Rockwall in Rockwall, Texas, on Aug. 1, and is slated to manage two under-construction hotels, a dual-branded TownePlace Suites by Marriott and Fairfield by Marriott in Paris, Texas, and a TownePlace Suites by Marriott in Forney, Texas, the company said in a statement. "This is the second long-term management agreement we've entered into already in 2023, and we will continue to seek best-in-class partners like TEKMAK as we pursue our own third-party management growth goals," said Patrick Short, PHM president. "Our third-party operated portfolio continues to expand, currently accounting for nearly a third of our entire managed portfolio. We expect to continue growing our third-party portfolio moving forward, ultimately surpassing our owned hotels." A division of Peachtree Group, which is led by Jatin Desai and Mitul Patel as managing principals, PHM operates branded, limited-, select- and compact full-service hotels primarily in the upper-midscale and upscale segments. The company presently manages 92 hotels across 28 brands with 11,186 rooms in 22 states. These three TEKMAK hotels increase PHM's third-party operations to 34 hotels, the statement added.

HYATT HOTEL CORP. plans to acquire Dream Hotel Group's lifestyle hotel brands, including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands, for approximately $300 million. The deal will add more than 1,700 rooms to Hyatt's lifestyle portfolio and increase Hyatt's room count in New York City by more than 30 percent. The acquisition includes a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future, Hyatt said in a statement on Nov. 29. The transaction, expected to close in the coming months, continues Hyatt's asset-light growth strategy following acquisitions of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021. Post-acquisition, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years. It would generate management fees of about $12 million a year on the first dozen hotels.

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."

URBAN PARK HOTEL Collection, an independent budget-conscious hotel group, has partnered with technology firm LodgeTender to integrate its latest hotel technology platform. The new technology offers hotel owners an extra revenue stream, while eliminating the need to pay for a hotel PMS, booking engine, and channel manager, Urban Park Hotel said in a statement. "The partnership with LodgeTender offers our hotel portfolio an opportunity to earn rather than pay for a technology package," said Jay Patel, managing partner of Urban Park Hotel Collection. "We're delighted to introduce products and services that not only save our owners money, but also generate additional revenue for our member hotels." "Hotel owners now have the chance to upgrade their technology while staying ahead with productive features for added revenue and seamless guest service connections," added Kent Comfort, president of LodgeTender.

ACCORDING TO THE March 2022 edition of CBRE's Hotel Horizons national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses, and that can include property taxes. One potential reduction opportunity is property taxes, according to an article from Robert Mandelbaum, director of research information services for CBRE Hotels Research, and Mark Whitney, managing director of CBRE's Property & Transaction Tax Services platform. Based on a sample of 3,400 hotels from CBRE's Trends in the Hotel Industry database, U.S. hotel property tax expenditures declined by 13 percent from 2020 to 2021. This decline put 2021 property taxes 9.9 percent below 2019 levels. Unfortunately, this compares unfavorably to the 41.3 percent decline in revenues and 57.4 percent falloff in profits during the same period. For this analysis, profits are defined as earnings before interest, taxes, depreciation, and amortization, or EBITDA. Relationship to Profits Compared with other forms of real estate, hotel financial performance is relatively volatile. Because of the lack of long-term leases, hotel revenues and profits will react almost instantaneously to changes in the economy. This was evident during 2020 when we observed a sudden 64.3 percent drop in revenues along with a 109.4 percent decline in EBITDA in reaction to the pandemic.

REPRESENTATIVES OF THE U.S. hospitality industry recently rejected the New York City Council's revisions to the proposed hotel licensing bill, which include a new licensing structure, direct employment of housekeeping and maintenance staff, and a ban on subcontracting key operations. The American Hotel & Lodging Association and the Hotel Association of New York City objected to the amendments, warning of potential closures and layoffs in the city's hotel sector. The bill, known as the Hotel Safety Act, originally proposed by Councilwoman Julie Menin on July 18 and revised on Aug. 2, seeks to introduce staffing and operational mandates that AHLA considers unnecessary. "The city council's discussions regarding the Hotel Safety Act continue to exclude those who will be most affected by the legislation-hotel owners, management companies, sub-contractors and tens of thousands of hotel workers," said Kevin Carey, AHLA's interim president and CEO. "It is imperative that all stakeholders have a real seat at the table. If this is a matter of public safety and crime, as has been claimed by Councilwoman Menin and the bill's proponents, let's review the facts and statistics to see what picture they paint."

SSN HOTELS, A Delaware-based hotel management and ownership company, recently acquired its 31st property, the Residence Inn Atlantic City Airport/Egg Harbor Township in New Jersey. A full renovation of the property, set to begin at year's end, will focus on upgrading guest amenities, SSN Hotels said in a statement. SSN Hotels is led by co-founders Peter Bhai as CEO and Pinky Bhai and president. "We are excited to expand our presence in the Atlantic City area and look forward to transforming this property into a premier destination for business and leisure travelers alike," said Peter Bhai. "This renovation will allow us to offer an even more exceptional stay for our guests while continuing to grow our portfolio." SSN currently operates 31 hotels across five states-New Jersey, Pennsylvania, Virginia, Delaware, and Florida-with seven more in development, according to its website. It owns and manages properties under brands from Hilton Hotels & Resorts, Marriott International, IHG Hotels & Resorts, Red Roof and Wyndham Hotels & Resorts.

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."

MAGNUSON HOTELS HAS added a new hotel to its Magnuson Independent Collection portfolio, the Studios & Suites 4 Less Charlotte, in Charlotte, North Carolina. It is the sixth hotel added to the Independent Collection by owner Ray Patel of Charlotte. The 126-room hotel is near Charlotte Douglas International Airport, The Billy Graham Library, the NASCAR Hall of Fame and the Levine Museum of the New South, according to Magnuson. The new hotel looks to draw a 52-week nonseasonal business base from the regional banking, finance, software, and biotech sectors. Charlotte is also home to the Research Triangle Park, a globally prominent research center with over 170 companies and federal agencies in the U.S. "When Ray Patel called us in 2005, he wanted to build his own brand called Studios & Suites 4 Less, and that is exactly what Ray did," said Thomas Magnuson, CEO of Magnuson Hotels. As Patel's team manages the Studios & Suites 4 Less brand and operations, Magnuson Hotels provides the technology, distribution, and marketing for the brand. "We appreciate our partnership with Magnuson Hotels, which is now entering its 17th year of consecutive increases," said Patel of Charlotte. "It is a pleasure and privilege to continually add new properties in our home market of Charlotte, North Carolina," he added.

HOSPITALITY SOFTWARE FIRM Actabl recently introduced new bundled offerings designed to address hotels' operational efficiency, profitability and workflow management. The bundles include features from its integrated solutions-ProfitSword, Hotel Effectiveness, Alice and Transcendent-providing solutions for business intelligence, labor management and operations and CapEx, Actabl said in a statement. "We are thrilled to unveil our new bundled solutions, which mark a significant evolution in how we deliver value to our customers," said Jason Luo, Actabl's chief revenue officer. "We've thoughtfully crafted our offerings to meet the unique needs of properties and management groups of all sizes, providing a comprehensive, scalable, and flexible approach to hotel management." The new bundles are marketed to hotel management companies in three tiers: the Base Bundle, providing essential tools for foundational needs; the Advanced Bundle, offering enhanced features for more complex management requirements; and the Premier Bundle, delivering comprehensive, customizable solutions for those seeking to maximize the Actabl platform.

SITEMINDER, THE HOSPITALITY software platform led by CEO Sankar Narayan, and IDeaS recently launched the "Dynamic Revenue Plus" revenue management system that enables hotels to access live market intelligence and quickly act on their bookable inventory, pricing and distribution strategies. This mobile-first solution allows any hotel to optimize revenue based on market demand, unlike traditional RMS, which are often limited to select hotels. Dynamic Revenue Plus employs data from SiteMinder's platform, encompassing 120 million annual hotel bookings, and will soon be enhanced with pricing recommendations from IDeaS, the companies said in a joint statement. "We're committed to democratizing revenue management and bringing the benefits of dynamic, demand-based pricing to hotels across the globe," said Klaus Kohlmayr, IDeaS' chief evangelist and development officer. "This partnership offers hotels of all sizes and operating models a viable option to avoid losing revenue due to outdated manual practices." The integration of IDeaS' dynamic pricing capabilities with SiteMinder's distribution platform and market intelligence will help hotels of all sizes, including those with limited resources, with robust revenue management and quick market access, the statement said. It will initially be available to hotels in Australia and New Zealand, expanding to other markets in 2025, the companies said.

CHOICE UNIVERSITY, OPERATED by Choice Hotels International, recently launched the online "School of Business Principles & Financial Management" program to train owners and operators of Choice Hotels-branded properties in hotel management. The program equips owners with the tools and knowledge to make informed decisions, improve operations and increase profitability, Choice said in a statement. "Choice University's schools offer our community of owners targeted learning in key areas of hotel management," said Jeneane Becker, Choice University's dean. "Our new School of Business Principles & Financial Management is designed to help them elevate their hotels' financial performance." The new program includes instruction on benchmarking performance, enabling owners to measure their hotel's results against industry standards and competitors to identify areas for improvement, the statement said. It also covers income statement and balance sheet basics, helping owners understand and analyze financial statements to make informed decisions.

Home2 Suites by Hilton Cookeville in Cookeville, Tennessee, is now open. It is owned by NHK Hotels LLC and operated by Image Hotel Management, both led by Neil Patel as CEO. "On Aug. 14, 1986, Neil Patel, CEO and founder of Image Hotel Management, opened his first hotel, Executive Inn, in Cookeville," said Karen Patel, managing partner of Image Hotel Management. "Thirty-seven years later, we are delighted to open our Home2 Suites here and continue our partnership with Hilton Hotels." The 102-room hotel is near Tennessee Tech University, Cookeville Regional Medical Center, Cummins Falls, Burgess Falls, and Fall Creek Falls state parks, Image said in a statement. Hotel amenities include full kitchens, an indoor saline pool and a fitness center. The property includes a "backyard" with outdoor seating, a seasonal fire pit, pet pit stop, putting green, and yard games. The Cumberland Room offers 1,500 square feet of conference space with a spacious pre-function area and catering kitchen.

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.

EV HOTEL CORP., the Atlanta-based tech centric "smart hotel" company, is in a "change of control" stock purchase agreement with Plandai Biotechnology, Inc. Plandai will become the parent company to EV Hotel, founded by Ken Patel, for the purposes of going public. Before closing the agreement, both parties must complete independent financial audits, a third-party valuation of EV Hotel Corp. and the company completing corporate actions with the Secretary of State of Nevada, according to EV Hotel. Trading regulatory organization FINRA will change Plandai's name and trading symbol, along with implementing a reverse split of the company's common stock, with management plans at 100:1. Upon closing, Plandai will acquire all of the authorized stock and assets in EV Hotel in exchange for common stock and Patel will acquire all of the company's Series "A" Preferred stock, resulting in a change of control.

Cambria Hotel Waco University Riverfront in Waco, Texas, owned by KB Hotels led by Kiran "Kenny" Bhakta as founder and CEO, is now open. It is the ninth Cambria Hotel in the southwest. The new 4-story, 130-room property joins Cambria's Austin Downtown, Austin Uptown, Austin Airport, Houston Downtown, McAllen, Plano, Richardson and Southlake, Choice said in a statement. KB Hotels, led by Kiran "Kenny" Bhakta, a hotel development company in central Texas, is spearheading the development of this hotel. "With a rich history anchored by academia and agriculture, Texas is quickly becoming a hub for vacationers and business travelers alike," said Indy Adenaw, Choice's senior vice president and general manager for upscale. "We look forward to expanding Cambria's unique offerings and top-notch amenities to even more guests in the Lone Star State with the opening of the new Cambria Hotel Waco University Riverfront."

NEXGEN HOTELS RECENTLY acquired the 137-room Hotel Versey in Chicago, Illinois. The boutique property will be managed by Genuine Hospitality Group of St. Louis. The acquisition marks the first for NexGen in 2024, under the leadership of Chris Patel as president. In November and December, the company acquired around three hotels within a few weeks. "The Hotel Versey has been on our radar for a long time as it is steeped in rich hospitality tradition that dates back to the 1920s," said Patel. "We hope to continue on with this tradition with this completely one-of-a-kind hotel." The hotel is located near 1920s Diversey Arms building, a Northside Chicago landmark that once served as the home of jazz musician Bix Beiderbecke. Additionally, it is close to Wrigley Field, Lake Michigan, Lincoln Park Zoo, DePaul University, and the Peggy Notebaert Nature Museum.