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The Best Western Plus Brooklyn-Prospect Park is now in Brooklyn, New York. It is owned by Mahesh Ratanji and is near several major attractions. The 67-room property provides easy access to the area's top attractions, including Barclays Center, Flatbush Avenue, Luna Park, Brooklyn Bridge Park, Brooklyn Zoo, Brooklyn Museum, Brooklyn Botanic Garden, Brooklyn Brewery and many more. The hotel is also nearby popular Brooklyn neighborhoods like Brooklyn Heights, Williamsburg, Dumbo, Red Hook, Coney Island and Sheepshead Bay. The new construction hotel provides amenities including a 24-hour fitness center and a business center. The hotel guestrooms are designed in bright colors and has 55-inch flat-screen televisions, mini fridges and coffee makers. Free wireless internet is available throughout the property.

DESPITE PROJECTIONS OF persistent inflation and a moderate economic recession, CBRE's November 2022 Hotel Horizons forecast calls for a 5.8 percent increase in RevPAR in 2023. This is up from CBRE's previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE's increased outlook for RevPAR is an expected 4.2 percent rise in ADR, driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the U.S. to increase by 3.5 percent year over year. Inflation continues to have a mixed impact on the hotel industry, bolstering top-line growth while pressuring margins. Supply and Demand Inflation is also impacting development activity. The combination of rising construction material costs, a tight labor market, and high interest rates will serve to keep supply growth over the next five years 40 percent lower than historical trends. Instead of construction, we expect cash flows in the near term to be focused on debt reductions, renovations and remodels given the backlog of Capex that built up during the pandemic. Given its forecast for a 0.2 percent decline in 2023 gross domestic product, CBRE lowered its expectations for demand growth from 3.3 percent in their August 2022 forecasts to 2.9 percent in the November update. With the projected supply increase remaining at 1.2 percent for 2023, the net result is a reduction in CBRE's occupancy growth estimate for the year to 1.6 percent, down from the 2 percent increase previously forecast. The lowering of occupancy expectations will somewhat offset the enhanced outlook for ADR growth.

The SureStay Hotel by Best Western Rockford East is now open in Rockford, Illinois. It is owned by Bankim Hirpara. The 122-room hotel is near Rockford University, Midway Village Museum, Hurricane Harbor Rockford waterpark, CherryVale Mall, Discovery Center Museum, Aldeen Golf Club and Rock Cut State Park. "We're excited to join the SureStay brand and open our doors in East Rockford," Hirpara said. "We look forward to welcoming guests to our convenient location, which is within proximity to some of Rockford's most exciting destinations. Our staff is eager to provide our guests with a stay they can be sure about."

The Best Western Gallup West is now open in Gallup, New Mexico. It is owned by Murad Mohsin. The 60-room hotel is near Veteran Memorial Pillars, Red Rock State Park, the Gallup Flea Market Fire Rock Navajo Casino and the Navajo Nation Museum. It is two hours from Albuquerque, New Mexico. Amenities include an indoor pool, fitness center, spa and free parking. "We are very excited to join Best Western and to have access to the brand's best-in-class support and resources that will strengthen our property and guest service," said Murad Mohsin, owner of the Best Western Gallup West. "Our hotel offers something for everyone and is near some of Gallup's most interesting sights. We look forward to providing the comfort travelers are looking for in our quaint town situated off Route 66."

THE AMERICAN FRANCHISE business model is in trouble, according to a recent survey commissioned by AAHOA. The survey was inspired by a webinar AAHOA co-sponsored to gather public comment on the state of franchising for the Federal Trade Commission. The survey found that only 5 percent of the franchisee respondents are satisfied that their current franchise agreements provide fair terms representing a balanced relationship between themselves and their franchiser. Also, 72.6 percent of respondents would "possibly" or "probably" terminate their current franchised business within the next year if they could do so without penalty. "Franchising is in dire straits unless changes are made," said Laura Lee Blake, AAHOA president and CEO. "Franchising is still a powerful tool for economic mobility for America's small-business owners, including AAHOA Members. But franchising only works when both franchisors and franchisees are committed to its success, which requires transparency, fairness, and sustainable business practices. As this survey shows, there is much room for improvement when it comes to relationships that allow our small-business owners to thrive." Blake recently wrote an editorial supporting AAHOA's 12 Points of Fair Franchising and its promotion of a proposed New Jersey law that would reform that state's franchising regulations in ways similar to the 12 points. Several large hotel companies, including Choice Hotels International and Marriott International, protested AAHOA's recent annual convention in protest to its position on franchise reform The survey was conducted among owners of hotels, restaurants, retail stores and other small businesses that had participated in the FTC webinar. It was co-sponsored by the American Association of Franchisees and Dealers, and the Coalition of Franchisee Associations, conducted the survey after a recent webinar with FTC Chair Lina Khan. The FTC is soliciting comments through June 8 about issues that affect franc

STAFFING PROBLEMS CONTINUE for 97 percent of American Hotel & Lodging Association members, according to a recent survey. In response, AHLA is expanding its "A Place to Stay" multi-channel advertising campaign to help with recruitment. AHLA's member survey also found that the staffing shortage is severe for 49 percent of respondents. For 58 percent, finding housekeepers is their biggest challenge. Nearly 90 percent of respondents have increased wages to help meet the demand. Also, 71 percent are offering greater flexibility with hours, and 43 percent have expanded benefits. As a result, in the last three months the respondents say they have hired an additional 23 new employees per property, but are also trying to fill an additional 12 positions. Still, 97 percent say they have been unable to fill open positions. "If you've ever thought about working at a hotel, now's the time because the pay is better than it's ever been, the benefits are better than they've ever been, and the opportunity is better than it's ever been," said Chip Rogers, AHLA president and CEO.

A LETTER APPEARING to be from Marriott International stating that the company was "re-evaluating" its official relationship with AAHOA over the association's new stance on franchise relations is causing some disruption on social media. Marriott and AAHOA have not responded to repeated requests for comment on the letter, but in an email to members AAHOA Chairman Neal Patel said the letter is a draft and the company and association are still in negotiations. The letter specifically cites AAHOA's request that the company reassess its franchising policies in light of AAHOA's recently released "12 Points of Fair Franchising." Also, it mentions AAHOA's support for New Jersey's proposed Assembly Bill 1958 that would make changes to the New Jersey Franchise Practices Act similar to the guidelines laid out in the 12 Points. "Ultimately, Marriott cannot support, either by endorsement and/or financially, any organization that is in direct opposition to our business model and interests," Marriott said in the letter. "We believe quite strongly that the longstanding relationship between Marriott and AAHOA has proven to be mutually beneficial, and we are deeply saddened that AAHOA has chosen to pivot its stance on these key issues in a way that is decidedly anti-franchising and anti-Marriott (especially since, as the AAHOA leadership shared with us in a recent meeting, neither AAHOA's leaders nor its members have any material issues with Marriott's approach to franchising or to our franchisees)."

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."

ATLANTA-BASED EV Hotels, a new technology-centric hotel brand founded by Ken Patel, has partnered with Spanish firm CLERHP to construct a luxury resort in the new Larimar City & Resort project in Punta Cana, the Dominican Republic. The 400-room hotel will be built on an area of nearly eight acres, the company said in a statement. Larimar City & Resort will be on the Promenade on the Farrallón de Verón, which has a view of Punta Cana, said Leonardo Padron Hermes, CEO of Blacklions International Group, a company associated with CLERHP in the development of real estate projects in the Dominican Republic. The area includes restaurants, clubs, shops and an 18-hole golf course. "After many years of working behind the scenes to develop a hotel brand that both innovates and revolutionized the industry, it is truly rewarding to now see EV make an impact across the globe. And believe me, we are just getting started," Patel said. "Larimar City & Resort will be one of the best tourist attractions around the globe and our team at EV is excited to be part of this Smart-City. Growth doesn't come with a single action. It is the consequence of persistence, courage, and hard work. What we are accomplishing here is to create an experience that brings hospitality back and gives it life again. Innovation is a team sport."

LESLIE HALE, PRESIDENT and CEO of RLJ Lodging Trust, will join Mit Shah, CEO of Noble Investment Group, for the 10th Annual Bharat Shah Leadership Speaker Series at the Hunter Hotel Investment Conference. The Bharat Shah Leadership Speaker Series was established and endowed in honor of Dr. Bharat Shah at Georgia State's Cecil B. Day School of Hospitality Administration, J. Mack Robinson College of Business. The upcoming series is scheduled for March 21, accessible to registered attendees, special guests, and Georgia State University students. Hale is the first African American woman to lead a publicly listed real estate investment trust. She serves on the board of directors for Delta Airlines, is a trustee of Howard University, and is a board member of the Federal Reserve Bank of Richmond. Currently, she is the board chair for the American Hotel and Lodging Association. Hale said she was honored to be included in the Bharat Shah series, she said in a statement.

The Best Western Plus Magnolia Inn & Suites is now open in Cleveland, Tennessee. The recently renovated 87-room hotel, owned by Jay Patel, is near the Ocoee River which offers recreational activities, such as white-water rafting, swimming, fishing and boating. Also nearby is the national headquarters of Church of God, national headquarters of Life Care Centers of America, a Whirlpool Corp. manufacturing plant, the Wacker Chemical Co. plant and Cleveland State Community College. Amenities include a fitness center, outdoor pool and meeting space to accommodate up to 30 people. "The Best Western brand is known for its 75-year legacy of offering the highest degree of hospitality and unmatched value, and we are proud to be one of its newest members," Patel said. "Our newly-renovated hotel, combined with our exceptional service and outstanding amenities, will exceed guest expectations as they experience all a Best Western Plus hotel has to offer, whether for work or play." In early May, the Best Western Plus Orlando East-UCF Area in Orlando, owned by PRM Hotels led by Ishwar Naran as president and CEO, opened in Orlando. The newly renovated 70-room hotel is near the University of Central Florida and other local colleges, including Strayer University Orlando East Campus and Valencia College East Campus.

STONEBRIDGE COS. HAS acquired the Le Méridien New Orleans hotel for $84 million from Park Hotels & Resorts Inc. It is the second acquisition in the city in 12 months for the Denver-based company, started by CEO Navin Dimond. The 410-room, full-service upscale hotel on Poydras Street is near the city's French Quarter, Bourbon Street and Warehouse Arts District. Also nearby are the New Orleans Ernest N. Morial Convention Center, Mercedes-Benz Superdome, Smoothie King Center and the Port of New Orleans Cruise Ship Terminal. Amenities include a rooftop pool, onsite restaurants and more than 13,000 square feet of event space. With the new purchase, Stonebridge's portfolio stands at 63 hotels and more than 10,000 guest rooms, including select-service, extended-stay, mid-scale and full-service hotels in several states. It is the first Le Méridien hotel for the company, Dimond said. "Last year we purchased the Embassy Suites by Hilton New Orleans," Dimond said. "New Orleans is truly a great American city, and the Le Méridien is ideally located for both leisure and business travelers alike visiting downtown New Orleans."

Amanda Lynch is the vice president of revenue management at Uniondale-based Blue Sky Hospitality. Michael Newman is the company's new corporate director of sales and marketing. Naveen Shah is Blue Sky's CEO. Prior to joining Blue Sky, Lynch was the corporate director of marketing and revenue management with The Dow Hotel Company. She also is a member of HSMAI. Newman most recently served as Blue Sky's director of marketing at the 305-room Hilton Long Island. Over the course of his career, Newman worked for multiple hotel management companies, including 11-plus years with Hyatt Hotels, as well as stints with Millennium Hotels, Magna Hospitality, Interstate Hotels, and Melia Hotels. He was also the director of sales and marketing at hotels such as Hyatt Regency Jersey City, Grand Hyatt New York, The Millennium UN Plaza and INSIDE New York.

The Tru by Hilton Mooresville in Mooresville, North Carolina, is now open. It is managed by Maya Hotels led by co-founders J.D. Deva and Baldev Thakor. The 120-room hotel is in the Langtree Lake Norman mixed-use development in Mooresville. It is near to Lake Norman and Langtree Plantation. Amenities include mobile check-in and a fitness center. The hotel is pet friendly. The Tru by Hilton Mooresville marks Maya Hotels' fourth hotel investment in Mooresville in the last 25 years, with a fifth hotel set for completion in the third quarter of this year.

COMMERCIAL REAL ESTATE lender Stonehill is ranked as the 10th largest U.S. commercial real estate hotel lender by origination volume based on the 2021 Mortgage Bankers Association loan origination rankings. The ranking comes after the company originated $822 million in loans across 30 transactions in 2021 with an average transaction size of $27.4 million. Stonehill is a subsidiary of Atlanta-based Peachtree Hotel Group, led by Jatin Desai and Mitul Patel, who are principals of Stonehill and Stonehill PACE, as well as members of the Stonehill's investment committee. MBA's annual originations rankings report is a comprehensive set of listings of 149 commercial/multifamily mortgage originators, their 2021 volumes, and their different roles. "We are honored to be ranked in the MBA's leading industry list," said Mat Crosswy, Stonehill's president and managing principal. "Our top-ten position is a testament to our commitment to understanding our sponsors' business plans and accomplishing the transactions on their financial deadlines. We have a terrific opportunity to grow further as the hospitality industry is in a sustained recovery cycle. Hotel owners are looking for thoughtful options with capital partners that understand the industry's nuances, particularly considering the impact of the pandemic on hotel operators."

ATLANTA-BASED BANYAN Investment Group, led by Rakesh Chauhan and Andy Chopra as managing partners, is rebranding as Satori Collective, an investment management firm focusing primarily on hotel property investment. Its subsidiary Banyan Tree Management also has become Aperture Hotels. Satori and Aperture will work independently of one another. The awakening Satori focuses on investment into select-service, upper select-service extended-stay and lifestyle hotel properties, according to the company. It concentrates on investment in growth corridors located in top MSAs across the U.S. which have established hotel demand generators such as tourism, corporate group travel, state capitals, conference universities, healthcare, heavy manufacturing and military. "Satori is a Buddhist term meaning 'awakening and deep understanding,' which is how our team approaches commercial real estate investment," Chopra said. "With more than 140 years of combined investment experience in virtually all markets and segments, our team has an unparalleled understanding of both the environment and the marketplace. We realized that our true, core business is real estate investment, so we have renewed and doubled our focus on raising and deploying capital in pursuit of consistent, risk adjusted returns while allowing our former management platform to stand on its own and pursue additional third-party management business opportunities."

Red Roof Inn Hutchins is now open in Hutchins, Texas. The 41-room hotel is owned and operated by Jay Patel as his first hospitality venture. Red Roof Inn Hutchins is close to Dallas and attractions including the Cold War Air Museum, Trinity River Audubon Center and Trinity Forest Adventure Park, Red Roof said in a statement. Red Roof Inn Hutchins is pet friendly and is part of the RediRewards program from Red Roof. The hotel also takes part in Red Roof's RediClean program. Patel was introduced to Red Roof by a friend and existing franchisee. "Red Roof's team has supported me throughout this project, from start to finish," Patel said. "Special thanks to Alex Shamsuddin, Red Roof's Regional Vice President of Franchise Sales, who collaborated closely with me to secure permits for the ideal location in Hutchins, Texas. The robust logistics industry in our county, coupled with other significant businesses and local attractions, sets our hotel up for success."

U.S. HOTELS ARE likely to report improved RevPAR growth in the second half of the year, following a weak first quarter, according to CBRE. International tourism and other economic factors are expected to provide a boost to performance. A 2 percent increase in RevPAR growth is forecasted for 2024, down from the 3 percent estimated in February. RevPAR is now expected to grow by 3 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. It is projecting GDP growth of 2.3 percent and average inflation of 3.2 percent in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation between GDP and RevPAR growth, CBRE said in a statement.

Sonesta Essential La Porte is now open in La Porte, Texas. The 84-room upper-midscale property is owned by Hinesh Patel. The hotel is near Sylvan Beach Park and historical sites such as the San Jacinto Museum and Battlefield, the final battle of the Texas Revolution. Amenities include an indoor pool and fitness center, and it is pet-friendly. "The growth of the Sonesta Essential brand continues with the opening of Sonesta Essential La Porte, which is the brand's sixth location in Texas," said Keith Pierce, Sonesta's executive vice president and president franchise and development. "Focused on providing just the essentials, this brand has seen immediate success with its appeal to both owners and guests alike."

HOSPITALITY SOFTWARE PROVIDER Canary Technologies recently closed a $50 million Series C funding round to research AI guest technology in the hospitality sector, bringing its total fundraising to nearly $100 million. The company's software includes mobile check-in and checkout, tablet registration, upsells, guest messaging, Canary AI and digital tipping. The recent investment round was led by global software investor Insight Partners, who also led the company's Series B, with participation from existing investors F-Prime Capital, Thayer Ventures, Y-Combinator and Commerce Ventures, Canary said in a statement. California-based Canary is led by CEO Harman Singh Narula and President SJ Sawhney. "AI is transforming the way we live, work and travel," said Narula. "Canary is at the forefront of delivering enterprise-grade hospitality AI solutions that empower hoteliers to streamline operations, boost efficiency and elevate the guest experience, This funding milestone is a reflection of the team's hard work and the immense impact that Canary is making for hoteliers, including many of the world's largest enterprise hotel brands. We continue to see significant demand in the market for our products and are excited to extend our partnership with existing investors."