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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."

STEERED BY SEVERAL factors, including the strong performance by several hotel brands, the Baird/STR Hotel Stock Index increased 1.4 percent in April to a level of 5,430, STR said in a statement. Growth is slowing, STR said, but will continue for the next quarter or more. "Hotel stocks increased in April, and the gains were driven by outperformance from the global hotel brands," said Michael Bellisario, senior hotel research analyst and director at Baird. "RevPAR trends have remained solid in the face of growing macroeconomic uncertainties and continued banking turmoil, and first-quarter earnings generally have surprised to the upside with positive full-year estimate revisions occurring. The Hotel REITs declined more than 2 percent in April and underperformed the RMZ, while the global hotel brands gained just over 2.5 percent and outperformed the S&P 500's return by 100 bps." According to STR, the Baird/STR Hotel Stock Index fell slightly behind the S&P 500, which was up 1.5 percent in April but came in above the MSCI US REIT Index, up 0.7 percent. The hotel brand sub-index jumped 2.5 percent from March to 10,178, while the hotel REIT sub-index dropped 2.6 percent to 1,045, it added. "The industry continues to revert to normal patterns and calendar shifts with growth slowing as forecasted," said Amanda Hite, STR president. "Monthly demand fell year over year for the first time since the recovery began in April 2021, but that decrease can be attributed to an extra Sunday on the calendar this year versus last. Without the extra Sunday, which is historically a low-performance night, demand would have been slightly up from last year. ADR, on the other hand, grew 3.4 percent, while RevPAR was up 1.8 percent - the lowest increase of the recovery thus far. Despite slowing growth, we expect the industry to see further gains throughout the summer and fall."

BOUTIQUE HOTELS GENERATED more annual RevPAR than traditional hotels in the U.S. last year, according to a report from consulting agency The Highland Group. Hotels focused on experiential stay, exceptional design and amenities also attracted a rate premium, the report said. Boutique hotels are classified into independent boutique, lifestyle hotels and soft brand collections. The Boutique Hotel Report 2022 has said that upper midscale, upscale and luxury soft brand collections recovered strongly in 2021 in performance metrics against their US upscale counterparts, while the upper upscale class was ahead in rate recovery and lagged in occupancy. According to the report, lifestyle upper upscale and luxury hotels recovered at parity with their counterparts, while upper midscale and upscale lifestyle hotels reported slower recovery in both occupancy and average rate. "Upper midscale and upscale independent boutique hotels in urban locations recovered at a stronger pace than all U.S. hotel in urban locations in both performance metrics.

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.

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.

CHOICE HOTELS INTERNATIONAL has completed its acquisition of Radisson Hotels Americas for $675 million. The transaction includes Radisson's franchise business, operations and intellectual property. The merger, which was announced in June, will add Radisson's nine brands to Choice, bringing it to 624 hotels. "With the close of this transaction, Choice Hotels International has added approximately 67,000 rooms, expanding its presence in the higher revenue upper upscale and upscale full-service segments, and bolstering its core upper-midscale hospitality segment, particularly in the West Coast and Midwest of the U.S.," the company said in a statement. As part of the transaction, which covers properties in Canada, Latin America and the Caribbean as well as the U.S., Choice will independently own and control the brands in the Americas and will work with Radisson to drive the growth, continuity and success of the brands, according to a joint press release from the companies. Choice's board of directors unanimously approved the transaction, and it was expected to close in the second half of 2022. It was funded by cash on hand and revolver borrowings and includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the recently launched Radisson Inn & Suites and Radisson Collection brands.

U.S. EXTENDED-STAY HOTELS set new records for demand, ADR, RevPAR and room revenues in the fourth quarter of 2022, according to a report from hotel investment advisors The Highland Group. Also, the report showed rate resistance is apparent at lower price points due to recession and the economy extended-stay segment reported nine consecutive months of declining demand and three successive quarterly falls in occupancy. According to the Highland Group's "U.S. Extended-Stay Hotels: Fourth Quarter 2022" report, mid-price extended-stay hotels reported their second consecutive quarterly decline in occupancy in fourth quarter. Similar occupancy declines occurred for about two years starting in mid-2015 before ADR growth moderated and occupancy recovered. Extended-stay hotel supply growth was the lowest since 2013 during the quarter, below its long-term historical average for 20 consecutive quarters. The last time extended-stay supply growth was consistently near its current level was from 2010 fourth quarter through third quarter of 2014. "Extended-stay hotel RevPAR was more than 12 percent higher than in fourth quarter of 2019. There were 567,770 extended-stay hotel rooms open at the end of the quarter. Excluding 2020, the 6,481 net gain in rooms open over the last year was the lowest annual increase since 2012. Room nights available increased 1.2 percent over the last year which was the smallest annual gain in supply for nine years," the report said. "Fractional net economy and upscale segment supply gains compared to 2021 are largely due to re-branding moving rooms between segments in our database, de-flagging of hotels which no longer meet brand standards, as well as the sales of some hotels to multi-family apartment companies and municipalities."

EV HOTELS, A new technology-centric hotel brand founded by Ken Patel, is entering the "metaverse" by way of a partnership with "metavestor" club BAPESWORLD. Patel said his will be the first hotel company to play in the still fluidly defined metaverse, essentially a combination of online gaming, virtual reality, cyber meeting spaces and ecommerce. When completed, EV Hotels will include a "crypto trade floor" in partnership with EV Hotel has partnered with cryptocurrency and NFT exchange Chicago Digital Exchange where the crypto trading community can meet in person to share information and expertise. Individual traders and companies will be able to buy membership trading rights through CDX that will include discounted exchange fees and other exchange amenities at the EV Hotel trading floors. Under the new agreement, BAPES will be featured in the "non-fungible tokens" lobby where it will have NFTs for sale for in-person and in the metaverse. "Ventures like this are new to the hospitality and digital world, and that is why I am excited to announce the partnership between EV Hotel and BAPE," Patel said. "This sort of partnership usually does not come to market, and to have metaverse in the same sentence with hospitality is unheard of. The world's first hotel brand to hit the metaverse. What we are doing is to create an experience that brings hospitality back and gives it life again. Innovation is a team sport, and this venture merges the capabilities of our respective teams."

CHOICE HOTELS INTERNATIONAL has entered into a definitive agreement to acquire the franchise business, operations and intellectual property of Radisson Hotel Group Americas for approximately $675 million. The addition of Radisson's nine brands to Choice will bring with it 624 hotels with more than 68,000 rooms. As part of the transaction, which covers properties in Canada, Latin America and the Caribbean as well as the U.S., Choice will independently own and control the brands in the Americas and will work with Radisson to drive the growth, continuity and success of the brands, according to a joint press release from the companies. It will be funded by cash on hand and revolver borrowings and includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the recently launched Radisson Inn & Suites and Radisson Collection brands. Choice's board of directors unanimously approved the transaction and is expected to close in the second half of 2022, pending regulatory approvals and customary closing requirements. The transaction is not anticipated to change Choice's current capital allocation strategy related to dividend payment policy and planned share repurchases.

EXTENDED-STAY HOTELS continue to outperform other types of hotels on a regular basis, even during the pandemic. Now, large hotel companies are expanding their interests in the segment. Choice Hotels International is seeing strong performance and growth in its extended-stay brands, and Wyndham Hotels & Resorts recently announced plans to launch a new extended-stay brand this year, its first in the economy segment. Coming off a good year Occupancy, ADR and RevPAR all exceeded pre-pandemic levels for Choice's established extended-stay brands, the economy brands WoodSpring Suites and Suburban Extended Stay as well as midscale brand MainStay Suites, according to the company. The company's new midscale Everhome Suites, launched in early 2020, also saw strong interest by franchisees. The overall performance is similar to what the brands saw in 2020.

THE BAIRD/STR Hotel Stock Index jumped 15.8 percent in October, according to STR. There were no signs of slowing as U.S. demand continued to strengthen during the month. The index decreased 8 percent year-to-date through the first ten months of 2022. The index fell 9.1 percent in September. In October, the index outgrew both the S&P 500, up 8 percent and the MSCI US REIT Index, increased 4.7 percent. The hotel brand sub-index increased 14.4 percent from September to 9,458, while the hotel REIT sub-index grew 20.6 percent to 1,193. "October was a strong rebound month for hotel stocks, and they recouped all their losses from the prior two months," said Michael Bellisario, senior hotel research analyst and director at Baird. "Importantly, both the global hotel brands and the hotel REITs were relative outperformers versus their respective benchmarks in October. As investors shifted their focus from broader macroeconomic uncertainties to sector-specific performance ahead of and through third-quarter earnings reports, hotels continued to screen favorably given still-strong underlying fundamentals and an intact post-pandemic recovery thesis."

URBAN PARK HOTELS just launched a new flag brand, Urban Park Motel. It is an economy conversion brand intended specifically for small motel owners. Founded in 2020 by long-time hoteliers Jay Patel and John Parkin, Urban Park Hotels is designed to attract hoteliers away from larger franchises with simplified standards and lower fees using membership over franchising. The new brand, which joins existing brands Urban Park Hotel & Suites and Urban Park Hotel Express, follows that same philosophy. "After collaborating with our team, especially during the height of the Covid-19 pandemic, we noticed that a lot of small motel owners were either closing their properties or trying to 'wait it out' and see what happens," Parkin said. "We also had to readjust our development strategy and wait for the industry to rebound. During this period we created Urban Park Motel, a flag that will reward good motel owners with an opportunity that the large hotel franchise companies have overlooked due to size, location and total expected revenue."

THOMAS MAGNUSON, CEO and co-founder of Magnuson Hotels, stood before the House of Lords in the British Parliament last week and spoke on what hotels in the United Kingdom need to continue their recovery from the COVID-19 pandemic. Much of what he said applies to U.S. hotels as well, he said. The key to success in the U.K., Magnuson said in his address, is preserving independent hotels. "Not all hotels are the Savoy," Magnuson said. "Most hotels in the U.K. are small, family owned, and endangered." In the presentation to the Travel Technology Initiative, hosted by the Baroness Ros Altmann, Magnuson said there has been a rapid decline in the number of U.K. hotels owned by independent private businesses. In 2010, independent hoteliers represented 78 percent of the U.K. hotel industry, Magnuson said. He reported that publicly traded branded hotels combined with globalism powers have reduced the native share to 50 percent in 2022. Magnuson also said that at today's change rate, the U.K. independent hotelier share will fall to 22 percent by 2026.

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.

CHIP ROGERS, PRESIDENT and CEO of American Hotel & Lodging Association, is joining the cast of a magazine-style television series "Hotels ByDesign." The program's host Mike Chapman will showcase up to 35 hotels across the U.S. throughout its four half-hour episodes. Rogers will be part of a panel of architectural, innovation and industry experts who will discuss key design aspects of various hotels, AHLA said in a statement. "Hotels are at the cutting edge of informed design, as brands and hotel companies are constantly evolving to meet the changing needs of guests," Rogers said. "I'm excited to work with Hotels ByDesign to showcase the beauty and ingenuity of our industry." "It is with great pleasure that we turn our design lens towards hotels and vacation experiences," said Chapman, who also serves as the series' executive producer. "ByDesign continues the design conversation in front of a mainstream American and international audience, celebrating, commentating, and educating on excellent design. We are excited to be collaborating with the AHLA as we embark on new adventures - broadening our audience and telling exceptional design stories together."

THE BAIRD/STR Hotel Stock Index was down 2.5 percent in February 2023 as the focus turned to earnings and initial 2023 outlooks, according to STR. Investors' confidence also was boosted some by strong fourth quarter results and rising demand. During the month, the Baird/STR Index surpassed both the S&P 500, down 2.6 percent and the MSCI US REIT Index, fell 4.9 percent, STR said in a report. Meanwhile, the index jumped 16.4 percent in January. According to the STR, the Hotel Brand sub-index decreased 1.2 percent from January to 10,219, while the Hotel REIT sub-index dropped 7 percent to 1,130. "Hotel stocks, just like the broader market, pulled back in February as the focus turned to earnings and initial 2023 outlooks," said Michael Bellisario, senior hotel research analyst and director at Baird. "The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnings reports and 2023 guidance that embedded heightened expense pressures and outsized renovation disruption."

HOTEL OWNERS NAVIGATING industry changes wrought by the pandemic face no dearth of challenges: the decline in business travel, competition from home rental apps and ongoing labor shortages are just a few. Too often, the people owning the hotels - many of them small business owners - are figuring out how to adapt to the new hospitality landscape with added complications from the hotel brands that should be their partners. While many hotel owners have struggled to maintain their livelihoods since the pandemic began three years ago, some big hotel chain franchisers sold hundreds of millions of dollars' worth of loyalty point value to credit card companies under a system that often fails to adequately reimburse the franchisees. That is the thanks these hardworking franchisees got as they worked hard to keep hotel doors open. It does not have to be this way. Generations of franchise owners have successfully embraced entrepreneurship through the franchising model. Franchising allows budding entrepreneurs to adopt a known brand name and comprehensive business strategies in exchange for a portion of the revenue. This partnership has nurtured our industry: Hotels owned by our members employ 1.1 million Americans and contribute $368 billion to the economy. But the franchising relationship needs to be a two-way street to be truly successful. That is why we must ensure that the franchise industry engages in sustainable practices that recognize and safeguard the contributions of small business owners.

The index decreased 12.6 percent year-to-date through the first eight months of 2022. In August it also surpassed both the S&P 500, down 4.2 percent, and the MSCI US REIT Index, which dropped 6.1 percent. Also, the hotel brand sub-index fell 2.3 percent from July to 8,959, while the hotel REIT sub-index dropped 3.7 percent to 1,143. "Hotel stocks took a breather in August after July's sharp rebound. Despite the slight decline in stock prices, both the Global Hotel Brands and Hotel REITs outperformed their respective benchmarks in August," said Michael Bellisario, senior hotel research analyst and director at Baird. "Hotel trends have remained solid throughout the summer months despite all the capital markets volatility and macroeconomic uncertainties. However, investors appear somewhat skeptical about the prospects for a significant recovery in business transient travel post-Labor Day, and hotel stocks appear to be discounting this relatively conservative fundamental expectation, in our opinion."

IHG HOTELS & RESORTS is set to launch a new brand targeted at midscale conversions, the company said during its first-half earnings call. Although the company has kept the brand's name under wraps, more than 100 hotels and their owners have displayed strong interest in the new brand. IHG, has previously established brands such as Holiday Inn and Holiday Inn Express in the upper-midscale category. It expects that the forthcoming brand will advance the company's growth within a $14 billion segment exclusive to the U.S. market. "As we expand our brand portfolio, we're pleased to announce an upcoming launch of a new brand aimed at midscale conversion opportunities," said Elie Maalouf, IHG's CEO. "Conversions offer substantial growth potential, constituting approximately 40 percent of global first-half openings and signings, reflecting owners' increasing eagerness to swiftly benefit from IHG's reach and enterprise. We're thrilled that over 100 hotels have already expressed definite interest in this new brand."

PEACHTREE HOTEL GROUP added seven hotels to its portfolio this week for $135 million. Three of the hotels also are part of Peachtree's third investment partnerships with San Mateo, California-based Verakin Capital led by partners Rupesh and Bimal Patel and Hiten Suraj. The new acquisitions include 829 rooms and are in five different states, according to Peachtree and its management division Peachtree Hospitality Management, which will operate all seven hotels. The new hotels are: The dual-brand Hilton Garden Inn Phoenix Tempe, University Research Park, 120 rooms, and Home2 Suites by Hilton Phoenix Tempe, University Research Park, 108 rooms, in Tempe, Arizona, which were built in 2017. Aloft Hillsboro-Beaverton in Hillsboro, Oregon, 137 rooms, built in 2017. Hilton Garden Inn Casper, 121 rooms in Casper, Wyoming, built in 2008. Home2 Suites by Hilton Eugene Downtown University Area, in Eugene, Oregon, 120 rooms, built in 2016. Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, Pennsylvania, 119 rooms, built in 2013. Hilton Garden Inn West Lafayette Wabash Landing in West Lafayette, Indiana, 104 rooms, built in 2003.