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THE PERFORMANCE OF U.S. hotels ended strong in the first quarter with March profit surging across most global regions, according to HotStats. The research firm said stronger revenues, better conversion rates and less worry by travelers about a COVID upsurge drove the first quarter surge in performance. During the quarter U.S. hotels saw an increase in its operating fortunes, according to a blog post on the HotStats website. GOPPAR in March 2022 was up $70 over January 2022 and at $90 was closing in on March 2019's level. It was the highest profit month in the U.S. since February 2020, the last normalized month of performance before COVID-19 reframed the world. ADR growth in the U.S. led the way in recovery with March ADR on a nominal basis was at its highest level since October 2018.

U.S. HOTEL OCCUPANCY decreased in the first week of May compared to the week before, according to STR. However, ADR increased slightly. Occupancy was 63.9 percent for the week ending May 7, down from 66.6 percent the week before and dipped 6.1 percent from 2019. ADR was $147.24 for the week, up from $146.67 the week before and up 12 percent from three years ago. RevPAR reached$94.10 during the week, up from $97.72 and rose 5.1 percent from 2019. Among STR's top 25 markets, San Diego saw the highest occupancy increase, up 5.6 percent to 74.5 percent, over 2019.

EXTENDED STAY AMERICA is continuing its support for The American Cancer Society with a new video series. The series will focus on ESA's Hotel Keys of Hope program that provides free and discounted rooms for cancer patients and their caregivers. The "Stay Stories" video series will feature the stories of families who have to travel for cancer treatment, such as Candace Bennik, the subject of the first video who traveled from her home in Grand Rapids, Michigan, to Houston for treatment for stage four lung cancer. "One of ESA's core values is to put people first and care for our community, a sentiment that is demonstrated through our support of the ACS," said ESA's Director of Creative Services Holly Hester. "As part of this partnership, our goal is to help patients and their families overcome the financial stress of travelling for treatment and gain access to the care they need. We are honored to share their incredible stories."

THE REVPAR OF U.S. hotels reached an all-time weekly high on a nominal basis in the second week of June as performance jumped, according to STR. The ADR and occupancy levels were the second and third highest of the pandemic-era, respectively, during the week. Occupancy was 70.6 percent for the week ending June 11, up from 63.2 percent the week before and dropped 4.1 percent from 2019. ADR was $155.37 for the week, up from $147.35 the week before and increased 15.4 percent from three years ago. RevPAR reached $109.76 during the week, up from $93.16 the week before and up 10.7 percent from 2019. According to STR, the top 25 markets posted their highest metrics since the beginning of the pandemic in aggregate during June's second week. Leading the major markets in absolute occupancy for the week were Seattle with 85.2 percent, San Francisco/San Mateo with 84.3 percent and New York with 85.1 percent.

SHAMIN HOTELS, ONE of the largest Asian American owned hotel development and management companies in the country, has a new home with a literary pedigree. It has purchased the Richmond Times-Dispatch newspaper building that it will renovate and share with the newspaper. Shamin bought the four-story, nearly century-old building for $14.462 million on Jan. 2 and is planning a $1 million renovation, according to the Times-Dispatch. Its previous assessed value is $20.293 million. The newspaper will consolidate its offices on the building's fourth floor while Shamin's new offices will be on the third. The move is expected to be finished later this year.

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."

NOBLE INVESTMENT GROUP has acquired the dual-brand Hampton Inn & Suites Downtown Denver and Homewood Suites by Hilton Downtown Denver in Denver. Atlanta-based Noble is led by founder and CEO Mit Shah. The dual-brand hotel has a combined 302 guestrooms and suites, an indoor pool and whirlpool, a bar and more than 7,000 square feet of meeting and boardroom space. It is near the Colorado Convention Center and the 16th Street Pedestrian Mall, as well as the Union Station multimodal transportation hub. Downtown Denver also includes more than 25 million square feet of office space, three major sports stadiums, the Pepsi Center, the Denver Performing Arts Center, restaurants and museums and other attractions.

REAL ESTATE INVESTMENT competition She Has a Deal (SHaD) started a 10-city tour of U.S. cities to raise equity capital under the name "SHaD Prosperity Fund I." The funds will support women-led hotel projects, a statement said. The tour kicks off in Miami on Feb. 11 and will be open to small groups of qualified individual investors, family offices, small entities and trusts. Cities on the tour include Cleveland, Phoenix, Dallas, New York, Atlanta, Chicago, as well as Oakland, California; Louisville, Kentucky; and Washington, D.C. It will finish in the first week of April. According to SHaD, each event will include a preview of the women-led hotel deals being pitched by participants in the 2022 She Has a Deal pitch competition. "Launching SHaD Prosperity Fund I is the next logical step in the SHaD mission. Now that we have created a powerful platform to expose more women to hotel ownership and educate them about the process, I want to ensure that capital is available for the women to close their hotel deals," said SHaD founder Tracy Prigmore. "This investment vehicle marries two of my passions: creating investment vehicles that open the doors of hotel investing to more people and increasing the number of women owning and developing hotels. The ability to create passive income for investors while leading social change is inspiring."

U.S. HOTEL PERFORMANCE increased in the final week of February from the previous week, according to STR. Occupancy saw a new high during the week. Occupancy was 64.2 percent for the week ending Feb. 25, up from 60.8 percent from the third week of February and 1.5 percent below the comparable week in 2019. ADR reached $156.51, up from $156.10 the week before and 22.2 percent over the same month in 2019. RevPAR stood at $100.43, up from $87.21 the previous week and 20.3 percent rise over 2019. The U.S. weekly occupancy level was the highest since the week ending Nov. 19, 2022, the STR data showed. Among the Top 25 Markets, Orlando saw the highest occupancy increase over 2019, up 6.2 percent to 86.9 percent, while Las Vegas reported the highest ADR, up 49.5 percent to $186.96 and RevPAR rose 51.8 percent to $148.61 over 2019.

EXTENDED-STAY HOTEL room supply in the 100 largest metropolitan statistical areas in the U.S. grew 2.5 percent in 2022 compared to 2021, its smallest increase in several years, according to a new report from The Highland Group. The survey, which researched supply, demand, revenues and new construction of extended-stay hotels, said the outcome in 2022 was about half the net supply gain reported in 2021. According to the report, the lengthening hotel development timeline, fewer construction starts, disenfranchising hotels that no longer meet brand standards, conversions to apartments and some municipalities acquiring extended-stay hotels for housing have resulted in the muted growth. While there was a sharp decline in reported extended-stay rooms under construction last year compared to 2021, construction starts increased 6 percent over the last 12 months. "However, they remain low compared to the pre-pandemic period, the report noted. RevPAR growth in 2022 strongly favored ADR as opposed to occupancy gains in 2021. "Consequently, more than 40 MSAs reported lower average occupancy in 2022 than during the previous year. However, only a dozen MSAs have not yet recovered RevPAR back to its nominal 2019 value compared to about half the MSAs last year," it showed.

STONEHILL, A COMMERCIAL real estate direct lender and Peachtree Group affiliate, is now ranked as the 8th largest U.S. commercial real estate hotel lender by the Mortgage Bankers Association's 2022 loan originations rankings, a two-spot increase from its 2021 ranking. Stonehill deployed $1.2 billion in real estate investment, with $813 million for hotels in 2022, the company said in a statement. Meanwhile, Stonehill is also ranked as the 16th largest U.S. commercial real estate retail lender by MBA, having deployed $163 million in 2022, the statement added. "Our performance is a testament to our commitment to understanding our sponsors' business plans and accomplishing the transactions by having stable capital despite market turbulence," said Mat Crosswy, Stonehill's president and managing principal. Stonehill expanded its commercial lending business to originate and make investments across all real estate sectors by forming Stonehill CRE in 2022. This CRE group focuses on heavy transitional assets and sectors of the credit market that are traditionally undersupplied, the statement further said.

U.S. HOTEL PERFORMANCE was up in the first week of December compared to the week before, according to STR. However, occupancy was down during the week when compared to 2019. Occupancy was 55.4 percent for the week ending Dec. 3, up from 50.4 percent the week before and decreased 7.7 percent from 2019. ADR was $141.71 during the week, up from $135.49 the week before and up 10.2 percent from three years ago. RevPAR reached $78.50 during the week, increased from $68.27 the week before and up 1.7 percent from 2019. Among STR's top 25 markets, New Orleans reported the only occupancy increase, up 1.1 percent to 67.2 percent, over 2019.

C.J. Chapman is the new general counsel of Denver-based hotel operator and developer Stonebridge Cos. Chapman, who has nearly two decades of experience, will provide in-house legal advice for Stonebridge and also oversee the firm's risk management group, a statement said. A Denver native, Chapman also will become a shareholder in Stonebridge, according to the company. Previously, he served as general counsel to Elevation Capital, a venture fund based in Vancouver, Canada. "I am excited to have C.J. join our team. His breadth of experience and knowledge is a welcomed addition to Stonebridge," said Tom Brinkman, president and chief operating officer of Stonebridge. "C.J.'s professionalism, broad experience in the commercial real estate sector and commitment to excellence is a perfect fit for the team and culture here at Stonebridge."

U.S. HOTEL PERFORMANCE was up in the second week of December compared to the week before, according to STR. When compared to 2019, performance was higher during the week. Occupancy was 59.6 percent for the week ending Dec. 10, up from 55.4 percent the week before and a slight decrease of 1.2 percent from 2019. ADR was $144.79 during the week, increased from $141.71 the week before and up 15.4 percent from three years ago. RevPAR reached $86.29 during the week, up from $78.50 the week before and up 14 percent from 2019. Among STR's top 25 markets, Tampa reported the highest occupancy increase during the week, up 10.2 percent to 80.1 percent, over 2019. New York City achieved the highest occupancy level at 90.2 percent. New Orleans posted the highest ADR, increased 57.3 percent to $202.67, and RevPAR, up 63.8 percent to $136.92, over 2019.

THE BAIRD/STR Hotel Stock Index rose 2.7 percent in November according to STR. However, hotel stocks were relative underperformers during the month for the first time since June. The index jumped 15.8 percent in October. The index was down 5.5 percent year-to-date through the first 11 months of 2022. In November, the Baird/STR Hotel Stock Index fell behind both the S&P 500, up 5.4 percent and the MSCI US REIT Index, increased 5.6 percent. The hotel brand sub-index increased 3.7 percent from October to 9,804, while the Hotel REIT sub-index fell 0.2 percent.

NEXGEN HOTELS, LED by Chris Patel as president, acquired the 120-suite SpringHill Suites by Marriott Chicago Waukegan/Gurneein in Waukegan, Illinois. The purchase is part of the company's strategy in the market. The hotel is near to Naval Station Great Lakes, Six Flags Great America & Hurricane Harbor, Gurnee Mills Mall, Waukegan Municipal Beach and other shopping, dining and entertainment options, a statement said. "Acquiring the SpringHill Suites by Marriott strategically aligns our company's growth in the Waukegan area," Patel said. "Having an existing presence in the market with our TownePlace Suites by Marriott Chicago Waukegan/Gurnee, will help us collaborate between the hotels, and enhance our partnerships with other area businesses."

BWH HOTEL GROUP will offer cashless tipping to guests via eTip and Visa. The function will allow guests to express gratitude to hotel associates through pre-selected or custom tipping in the U.S. and Canada. The eTip process will be available at properties of the group, including Best Western Hotels & Resorts and SureStay Hotel Group hotels, the statement added. BWH said the new facility will empower guests to financially give to those who rely on tips as latest reports revealed that only 16 percent of U.S. customers carry cash. "We are committed to providing the best possible experience for our guests and bringing value to BWH hoteliers and their associates," said Michael Morton, BWH vice president for brand management. "We're excited to offer eTip digital tipping solution as a convenient way our valued guests can show appreciation to our dedicated hotel associates. We are equally excited to offer our associates a choice to receive their tips in real-time directly into their bank accounts. Innovation and caring are at the heart of our brand and we're proud to partner with eTip to innovate the tipping experience for guests and hoteliers alike."

U.S. HOTEL PERFORMANCE decreased in the third week of December compared to the week before, according to STR. However, performance metrics improved when compared to 2019 in part because of a favorable calendar shift. According to STR, the corresponding week in 2019 ended on 21 December, which brought performance down lower for that period. Occupancy was 54.5 percent for the week ending Dec. 17, down from 59.6 percent the week before and an increase of 9.2 percent from 2019. ADR was $135.08 during the week, dropped from $144.79 the week before and up 23.7 percent from three years ago. RevPAR reached $73.65 during the week, down from $86.29 the week before and up 35.1 percent from 2019.

THE WINDSOR HOTEL in Americus, Georgia, a boutique hotel owned by Edgewater Group LLC, has joined Choice Hotels International's Ascend Hotel Collection. The historical building recently underwent a multi-year renovation. Edgewater is led by founding partners Ketan Vora and Robert Brier. Originally built in 1892, the 53-room, the five-story Victorian-style Windsor features a tower and turret, balconies, and a three-story open atrium lobby, according to Choice. It occupies nearly an entire city block and was the site of numerous balls and celebrations. The Windsor closed in 1972 and underwent extensive renovations in 1991, 2010 and most recently in 2019. Nearby attractions are The Plains Depot, the Jimmy Carter Peanut of Plains statue, Civil War prison Andersonville National Historic Site and the Drummer Boy Civil War Museum. Former President Jimmy Carter and his wife spent the night at the hotel in 2002. Hotel amenities include a fitness center, two on-site restaurants and bars and a veranda.

U.S. HOTEL PERFORMANCE improved in the final week of 2022 compared to the week before due to favorable side of a holiday calendar shift, according to STR. When compared to the same period in 2019 performance also increased in the last week of December. According to STR, the comparable week in 2019 covered Dec. 29 to Jan. 4. Occupancy was 54.2 percent for the week ending Dec. 31, up from 43.9 percent the week before and increased 10.4 percent from 2019. ADR was $167.21 during the week, a steep increase from $132.29 the week before and up 21.7 percent from three years ago. RevPAR reached $90.63 in the final week of December, rose from $58.04 the week before and up 34.3 percent from 2019.