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TEXAS VOTERS APPROVED Proposition 4, a constitutional amendment reducing property taxes this year. AAHOA and the Texas Hotel & Lodging Association, which collaborated to support the amendment, said Proposition 4 ensures property tax relief for commercial hotel properties. The amendment allocates $12.6 billion in state funds for public education, lessening reliance on local property taxes, according to AAHOA. Moreover, it raises the Texas franchise tax exemption from $1.24 million to $2.47 million, providing businesses with tax relief, and caps appraisal values for commercial properties under $5 million. Proposition 4 was passed with over 83 percent of the vote, emphasizing to legislators the priority of reducing property taxes.

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.

IDEAS HAS LAUNCHED the G3 RMS Portfolio Navigator for automating multi-property revenue management. The tool analyzes business and market trends to identify revenue opportunities and necessary actions, while streamlining strategy decisions for individual properties and enabling swift responses to market changes for optimal revenue generation, IDeaS said in a statement. "IDeaS is committed to ensuring our customers, regardless of size, have the tools they need to become more efficient and productive," said Sanjay Nagalia, IDeaS' cofounder, COO and chief technology officer. "The addition of Portfolio Navigator to our flagship product, G3 RMS, is a game changer for multi-property revenue management. It helps teams highlight suboptimal business or system conditions by property, prioritize tasks with the highest revenue impact, display outstanding revenue tasks by individual property and scale revenue operations and brand contribution. This functionality helps revenue management leaders turn insights into impactful commercial actions at scale."

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

BPR PROPERTIES HAS selected LBA Hospitality to assume full management responsibilities for its complete portfolio of hotels. The company's 16 hotels are already managed by the Alabama-based hospitality management firm, with six properties added in the last three months. BPR is led by Birju Patel as president and CEO Bhupen Patel. "Making the decision to transition to third-party management was not an easy one," said Bhupen Patel. "However, when considering LBA Hospitality's associate-focused culture, commitment to training and their demonstrated development of leaders, the choice to have them assume full management responsibilities for our properties was an easy one. Their well-established partnership with us, continuous focus on associate retention and education, and dedication to delivering exceptional guest experiences align perfectly with our values. This transition will allow our team to shift our focus towards new hotel development and enhancing our existing properties."

ATLANTA-BASED HOSPITALITY Lodging Systems has added two Budgetel Inn & Suites and two Haven Hotel properties to its portfolio, according to HLS. Currently, there are 37 Budgetel hotels with 3,813 rooms operating in 10 states plus China and 12 Haven Hotels with 698 rooms in nine states. Both the Budgetel hotels are in metro Atlanta, a 218-room conversion former Clarion, located on the north side of the city and a 121-room property in suburban Lilburn. The new Haven Hotels are 50-all suites, boutique property in the Atlanta suburb of Marietta and a 130-room property in Hazelwood, Missouri, a statement said. "Our brands are attracting owners who want to lower costs and boost profits, especially as our industry struggles to recover from two years of pandemic slowdown," said Doug Collins, chairman and CEO of HLS. "Among the most popular features of our contract are unlimited free online reservations, fewer mandated amenities, and an annual exit opportunity."

NEWCRESTIMAGE HAS SOLD most of its hotel portfolio, along with some other properties, in a $822 million transaction with Summit Hotel Properties. Dallas-based NewcrestImage will remain invested in Summit and will own and operate two historic hotels it recently acquired and plans to make new acquisitions in the future. The definitive contribution and purchase agreement includes 27 hotels with 3,709 guestrooms for $776.5 million, or $209,000 per key. It also includes $24.8 million for 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. "NewcrestImage has assembled a collection of high-quality distinctive Marriott, Hilton, Hyatt, and IHG hotel properties throughout the Sun Belt region, which will be a great addition to Summit's portfolio," said Mehul Patel, NewcrestImage's managing partner and CEO. "As we will become one of Summit's largest shareholders, we have confidence in Summit as one of the industry's leading owners with a highly regarded public platform. We believe the two portfolios create an excellent combination of hotels that have tremendous growth potential and are well-positioned to create long-term shareholder value as the lodging recovery continues."

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."

MARRIOTT INTERNATIONAL RECENTLY picked the Agilysys point-of-sale platform, InfoGenesis, as an option for its hotels throughout the U.S. and Canada. Marriott's luxury, premium and select tiers hotels in both countries can now use the platform for guest-facing and staff-facing operations in F&B, retail and activity centers at each property. Agilysys is led by CEO Ramesh Srinivasan. InfoGenesis consolidates guest and staff purchasing transactions onto a single comprehensive cloud platform tailored for the hospitality industry, Agilysis said in a statement. InfoGenesis POS integrates with Marriott property management systems, furnishing front desk operators with detailed POS transactional information aimed at enhancing operational efficiency. "Marriott International is a globally admired organization and we look forward to offering properties across the U.S. and Canada the opportunity to leverage our enterprise-grade InfoGenesis omnichannel point-of-sale technology platform," said Srinivasan.

HIHOTELS BY HOSPITALITY International, a leader in franchising of conversion and new-build hotels for economy lodging, has opened four properties including Scottish Inns in Austin, Forest Hill and Hankamer, Texas and a Passport Inn in Paradise, Pennsylvania. These properties are owned by Dinesh Patel, Anu Investment Corp., Priteshkumar "Pat" Bhakta and Saraswati Group, Inc., respectively. The Scottish Inns & Suites in Austin is a former Rodeway Inn and is owned by Dinesh Patel. The 35-room hotel is located in downtown Austin just off Interstate 35 and East Highway 290. It is near the 6th St. Entertainment District and the University of Texas campus, and is near the Austin Zoo and Austin Convention Center, hihotels said in a statement. The Scottish Inns hotel in Forest Hill, Texas, a 46-room new construction, is owned by Anu Investment Corp. The property is located along Mansfield Highway, just a half mile from I-20 and 10 miles from downtown Fort Worth.

FRENCH HOTEL CHAIN B&B Hotels launched its U.S. expansion with the opening of its first property in Orlando, Florida. The 218-room hotel, located near Universal Studios, will be followed by additional hotels in Miami and Jacksonville, Florida. The mid-scale brand plans to establish 400 hotels across the U.S. within the next 10 years, representing $4 billion in real estate value, B&B Hotels said in a statement. "We are thrilled to bring B&B HOTELS to the United States and to offer travelers affordable high-quality accommodations," said Valerio Duchini, B&B Hotels' U.S. CEO. "We're also eager to engage with real estate investors here who share our vision for growth. Drawing from our success in Europe, we aim to establish ourselves as a prominent player in the U.S. market." B&B Hotels rebrands existing properties and constructs new ones, the company said. Batipart, a private equity firm based in Luxembourg, partnered with B&B Hotels for the Orlando property, with plans to renovate the hotel to improve the guest experience.

The Extended Stay America Suites in Baytown, Texas, owned by Wayside Investment Group led by Miraj Patel as president, has reopened following renovations. Work done on the three-story, 82-room property included upgrades to guestrooms, public spaces, a refinished exterior, and new signage, with the aim of providing more current amenities and services to long-term guests, Wayside said in a statement. "We are thrilled to partner with Extended Stay America for the reopening of our Baytown property, replicating the current prototype in a comprehensive renovation that highlights our commitment to enhancing guest experiences and adding value through asset repositioning," said Patel. The property is near Space Center Houston, Pirates Bay Waterpark, Baytown Nature Center and The Museum of Fine Arts, Houston, Wayside said.

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REAL ESTATE INVESTMENT competition She Has a Deal 2022 SHaDPitch Today's Woman competitor Amina Gilyard James recently acquired the Quality Inn in the Raleigh neighborhood of Memphis, Tennessee. James said the competition prepared her company for the acquisition. The 70-room hotel is near downtown Memphis, Beale Street and AutoZone Park, home of the Triple-A Memphis Redbirds and the Memphis International Airport, according to SHaD. Amenities in the property include a business center and indoor heated pool and hot tub. James' firm Duke Ventures plans to invest $500,000 to refresh the property with new paint, FF&E and additional cosmetic improvements. "The SHaDPitch competition and its curriculum provide an invaluable inside look at the hotel industry," James said. "It provided a roadmap and extensive network that gave me foundational knowledge of the hotel acquisition and ownership space. SHaD prepared my company, Duke Ventures LLC, to make the smartest investment possible. We're proud of the deal we made and optimistic about what the future holds for this property and our investors."

PEACHSTATE HOSPITALITY RECENTLY selected TPG Hotels & Resorts to manage 10 properties. The contract includes eight Marriott select service hotels and two IHG Hotels & Resorts select service hotels in Georgia. Both the firms have entered into an exclusive strategic agreement for the management of additional hotels in the current and future pipeline to be developed by PeachState Hospitality which is headed by Danny Patel as president and CEO, the statement added. "PeachState Hospitality is a leading owner and developer in our industry, and we are pleased to welcome them as a new partner and these exceptional properties into our portfolio," said Tim Muir, chief development officer, TPG Hotels & Resorts. "We look forward to growing our partnership as they accelerate their development platform over the next few years."

FLORIDA ATTORNEY GENERAL Ashley Moody is targeting fake postings offering vacation rental properties. The state's campaign against these specific scams plays into AAHOA's call for more short-term rental regulation, the association said. The scams involve fake postings offering vacation rental properties with requests for application fees or security deposits, according to Moody's office. Victims of the scam pay the deposit, only to find the listing has disappeared and so has the deposit money. The would-be vacationers often show up at the property and find that the actual owners have no record or intention of renting. "Florida is one of the most popular vacation destinations in the nation," Moody said. "Scammers will take advantage of this by creating fake vacation rental listings in hopes of stealing personal information and money. Whether you are traveling within the state or from out of state, make sure to take extra precautions when renting a vacation home to avoid being burned this summer vacation season."

THIRD-PARTY HOSPITALITY management company Twenty Four Seven Hotels has added four California hotels to its West Coast portfolio, a statement said. A member of the Newport Beach, California-based company's executive team said it's part of a controlled growth strategy. The new properties are the 128-room Hyatt House Sacramento/Midtown, the 112-room Hyatt Place Newark/Silicon Valley, the 90-room Hampton Inn & Suites Marina and the 119-room Holiday Inn Express Chino Hills. Currently, the firm is providing pre-opening services and these properties are expected to be fully operational in December, the statement added. "We continue to expand our management footprint throughout California, with these four additions bringing our total Golden State portfolio to twenty. By focusing exclusively on the West Coast, our area operational expertise is unparalleled. This also allows for the ability to more readily share best practices and enact economies of scale," said David Wani, CEO, Twenty Four Seven Hotels. "Twenty Four Seven Hotels provides a full-suite of services, starting at the earliest phases of the pre-construction process to create advantages over companies acquiring or assuming operations at a later stage."

FOUR HOTELS RECENTLY joined Hospitality International's hihotels brand, including three Red Carpet Inns along the East Coast and a new-build Scottish Inns outside of Houston, Texas. The company expects more growth in the future. Hihotels includes five brands Scottish Inns, Red Carpet Inn, Master Hosts Inns, Downtowner Inns and Passport Inn. The new properties include. Red Carpet Inn in Elkton, Maryland, 55 rooms, former Days Inn Red Carpet Inn in North Brunswick, New Jersey, 50 rooms, former independent Red Carpet Inn in Edison, New Jersey, 42 rooms, former OYO Hotel Scottish Inns in Richmond, Texas, 35 rooms, new construction While three of the four are conversions, the property in Richmond is the latest new build to join the brand. Two other Scottish Inns construction projects are currently ongoing in Texas in Houston and Forest Hill. Another new build recently opened in Hitchcock, Texas.

STONEBRIDGE COS. JUST acquired five properties, totaling a 1,200-key portfolio across the U.S. in late November. The Denver-based hotel operator plans to execute capital improvements at each property, with three having undergone recent renovations. With a current nationwide portfolio of more than 14,000 rooms, the company is actively pursuing additional expansion opportunities, Stonebridge said in a statement.