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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.

THE UPWARD MOVEMENT of ADR for U.S. hotels lifted the forecast for the market by STR and Tourism Economics. The travel research firms released the new forecast during the opening sessions of the Americas Lodging Investment Summit in Los Angeles on Monday. The recovery timeline laid out in the new forecast remains mostly the same as the previous forecast released in November, with ADR will near full recovery this year. RevPAR is anticipated to exceed 2019 levels in 2023, but when adjusted for inflation ADR and RevPAR are not projected to reach full recovery until after 2025. Occupancy is projected to surpass 2019 levels in 2023. "The industry recaptured 83 percent of pre-pandemic RevPAR levels in 2021, and momentum is expected to pick up after a slow start to this year," said Carter Wilson, STR's senior vice president of consulting. "With so much of that RevPAR recovery being led by leisure-driven ADR, however, it is important to keep an eye on the real versus the nominal. Terms of recovery are not playing out evenly across the board, and many hoteliers have had to raise rates to minimize the bottom-line hit from labor and supply shortages. We are anticipating inflation to remain higher throughout the first half of the year with a gradual leveling off during the third and fourth quarters. If that happens, and we avoid major setbacks with the pandemic, this year will certainly be one to watch with demand and occupancy also shaping up to hit significant levels during the second half."

AS COVID-19 FEARS subside, travelers are significantly less concerned about safety during travel, driving a significant rebound in travel activity, according to a survey by travel risk and crisis response provider Global Rescue. Most are vaccinated, or have recently recovered from COVID-19. The 2021 fall Global Rescue Traveler Sentiment and Safety Survey revealed that nearly 86 percent of travelers have taken domestic trips, and 42 percent have traveled internationally, since the start of the pandemic last year. The survey was conducted among more than 1,500 of the firm's current and former members between Oct. 26 to 30, 2021. "Between April and October, there's been a 74 percent jump in people taking domestic trips and an enormous 207 percent increase in individuals traveling internationally," said Dan Richards, CEO of Global Rescue and a member of the U.S. Travel and Tourism Advisory Board. According to the survey, fear of COVID-19-related quarantine or infection while traveling declined by 37 percent compared to January 2021.

U.S. HOTEL PERFORMANCE increased in the second week of December, according to STR. ADR was up during the week when compared to same period in 2019. Occupancy was 57.4 percent for the week ending Dec. 11, up from 54.8 percent the week before and down by 4.8 percent for the same period in 2019. ADR for the week was $128.35, up from $127.92 the week before and increased 2.3 percent when compared to two years ago. RevPAR increased to $73.73 during the week from $70.08 for the week before but dropped 2.7 percent for the same period in 2019. Among the Top 25 Markets, Norfolk/Virginia Beach saw the only occupancy increase among STR's top 25 markets during the week, up 4.2 percent to 55.2 percent over 2019. New York City reported the highest weekly occupancy level of any STR-defined U.S. market at 81.5 percent. However, its occupancy level was 13 percent lower than two years ago. Miami registered the largest ADR increase during the period, up 30.1 percent to $229.34, when compared to 2019.

U.S. HOTEL PERFORMANCE dipped in the first week of July when compared to the week before mainly due to decline in demand on account of the Independence Day holiday, according to STR. STR predicted that occupancy and demand are likely to fall again for a week before strengthening in the remaining weeks of July. Occupancy in the week before the holiday fell by more than four percentage points with most of the losses beginning on Wednesday and continuing into the weekend. Since 2000, the fourth of July holiday has fallen on a Monday seven times, including in 2021 and in 2016. Occupancy was 67.3 percent for the week ending July 2, down from 72.3 percent the week before and dropped 2.9 percent from 2019. ADR was $153.32 for the week, declined from $157.05 the week before and increased 19.7 percent from three years ago. RevPAR reached $103.24 during the week down from $113.55 the week before and up 23.1 percent from 2019.

STONEHILL CRE, THE commercial real estate group of investment firm Stonehill, has originated and purchased $200 million in first mortgage loans since being launched in the second quarter of 2022. The companies expect to complete an additional $100 million in loan originations and other transactions by year's end, based upon deals in its pipeline, and Stonehill CRE is targeting over $500 million in transaction for 2023. Stonehill CRE, formed in May with Daniel Siegel as its president, is designed to work in all real estate sectors to navigate ongoing market volatility and enable real estate owners to execute their business plans, according to the company. Its work has made Stonehill the 10th largest U.S. hotel lender in 2021, according to the Mortgage Bankers Association. Atlanta-based Stonehill and Stonehill CRE are affiliates of Peachtree Group, led by Jatin Desai and Mitul Patel as managing principals. "Stonehill CRE's formation came at a fortuitous time as market conditions have created a dislocated lending environment for commercial real estate," said Siegel. "Traditional lenders have not only slowed commercial real estate lending but also tightened underwriting standards, which allows us to provide needed liquidity for maturing loans, new acquisitions and construction projects."

THE U.S. HOTEL construction pipeline was slightly up at the end of the first quarter of 2022, according to Lodging Econometrics. Dallas was the top U.S. market for building. The pipeline stood at 5,090 projects containing 606,302 rooms, up 2 percent by projects, but down 3 percent by rooms, during the period. There are 961 projects with 128,784 rooms currently under construction in the first quarter, down 27 percent by projects and 28 percent by rooms compared to 2021, stated the latest trend report by LE. There are 1,911 projects with 223,030 rooms are scheduled to start in the next 12 months, up 2 percent by projects and 3 percent by rooms. Projects and rooms in early planning reached a record high in the first quarter, with 2,218 projects containing 254,488 rooms, up 24 percent by projects and 12 percent by rooms, compared to a year ago.

MEMORIAL DAY WEEKEND is back and almost as strong as pre-pandemic levels, with 39.2 million people forecast to travel 50 miles or more from home during the holiday period, according to AAA Travel. Despite record high gas prices, a majority of travelers, 34.9 million, are expected to drive, but air travel also is seeing resurgence. The total forecasted number of travelers is 8.3 percent higher than 2021's 36.2 million and comes closer to 2017 levels. Last year, U.S. hotels saw occupancy hit nearly 62 percent over that Memorial Day weekend, according to STR. "Memorial Day is always a good predictor of what's to come for summer travel," said Paula Twidale, senior vice president, AAA Travel. "Based on our projections, summer travel isn't just heating up, it will be on fire. People are overdue for a vacation and they are looking to catch up on some much-needed R&R in the coming months."

DESPITE THE CHALLENGES of 2020, hihotels by Hospitality International added 18 properties throughout the U.S. Most are conversions owned by Asian American hoteliers. The five hihotels brands include Red Carpet Inn, Scottish Inns, Master Hosts Inns, Downtowner Inns and Passport Inn. Hospitality International said the brands' franchising model includes customized support, advanced technology and overall value. "Last June, we announced a new branding identity for the company that expanded franchisee services and development opportunities and refocused our goal of becoming the best choice for economy hotel franchising. The response has been tremendous and we look forward to building on this great momentum in 2021," said Chris Guimbellot, hihotels president and CEO.

KEN GREENE IS leaving his position as president and CEO of AAHOA to begin a new job with Dallas-based IBF Hospitality. AAHOA already has begun searching for his replacement. Greene will leave on Feb. 11, according to a statement. He was brought on last year in June to replace Cecil Staton, AAHOA's former president and CEO when he left the association unexpectedly. "Ken has been instrumental in carrying AAHOA through the past several months, which brought on a lot of change both at AAHOA and in our industry," said AAHOA Chair Vinay Patel. "We're grateful for the time he's spent at AAHOA and wish him nothing but continued success as he transitions to another opportunity." While at AAHOA, Greene oversaw the association's return to in-person events, including the 2021 AAHOA Convention & Trade Show at the Kay Bailey Hutchison Convention Center in Dallas in August. He also helped in write AAHOA's strategic plan and helped restaff the organization after the departure of Staton, the association's executive vice president and COO Rachel Humphrey and others.

DALLAS-BASED INVESTMENT firm NewcrestImage became the second largest shareholder in TiffinLabs, a Singapore-based food tech company which operates food delivery-focused virtual restaurant brands, a statement said. Founded in 2020, TiffinLabs introduced numerous virtual brands across Singapore and Malaysia. It started U.S. expansion in Dallas in 2021 and now operates in Chicago, Detroit, Knoxville, and Charlotte. By 2023, it expects to have 1,000 digital storefronts globally and to be operating in 30 U.S. cities. "TiffinLabs offers hotels and restaurants a low cost, turn-key source of incremental revenue for post-pandemic recovery, while for us as investors, TiffinLabs represents a strategic opportunity for long-term growth," said Mital Patel, managing partner of NewcrestImage. Because of the company's shareholder position, Patel now becomes a board member of TiffinLabs.

AS MANY AS 84 percent of business travelers in the U.S. expect to take at least one trip to attend conferences, conventions or trade shows in the next six months, according to a survey from the U.S. Travel Association. They also expect to resume traveling at a slightly slower pace, about 1.6 trips per month, compared to 1.7 monthly trips pre-pandemic. The Quarterly Business Travel Tracker by J.D. Power said that less than one in 10 U.S. business travelers are uncertain if they would travel in the next six months. Meetings and events are not occurring and corporate policies restricting business travel are listed as reasons behind this. USTA forecasts that business travel spending was still down 60 percent from pre-pandemic levels in 2021. However, the latest data shows a clear shift in American business travelers' desire to return to in-person meetings.

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AS MANY AS 47.9 million people will travel 50 miles or more from home over the Independence Day weekend from June 30 to July 4, an increase of 3.7 percent over 2021, according to AAA Travel. It added that car travel will set a new record, despite historically high gas prices, with 42 million people hitting the road mainly due to recent issues with air travel and ongoing concerns of cancelations and delays. Independence Day will be the second busiest since 2000, as travel volumes continue to trend upwards, AAA said in a statement. However, the share of air travel will be the lowest since 2011. According to AAA, 46.2 million people traveled during Independence Day last year and the number was 49 million in 2019, before the pandemic.

The Restoring Brand USA Act took another step toward passage, clearing the U.S. House Committee on Energy and Commerce. The bill would renew the program aimed at promoting international travel to the U.S. Brand USA has generated $56 billion to the U.S. economy since 2013 and supported more than 45,000 jobs each year, according to Rep. Gus Bilirakis of Florida, a sponsor of the bill. The program is funded by international visitors and private contributions, and the decline in international travel during the COVID-19 pandemic has led to a loss of that funding, Bilirakis said. The bill would direct the Treasury Department to allow this program to access critical resources, funded by foreign traveler visa fees, for the next few years. "The travel and tourism industry was one of the hardest hit sectors during the pandemic. As we seek to restore our way of life and fully recover, we cannot overlook the work that must be done to renew this powerful engine of economic growth for communities across the nation," Bilirakis said. "Brand USA has proven itself as a successful catalyst for spurring tourism to the U.S. We need that catalyst now more than ever to help rebuild the industry and spur job growth. Common sense solutions like this will help boost the economy and help get us moving in the right direction."

AN ESTIMATED 54.6 million people will travel 50 miles or more from home this Thanksgiving, according to AAA Travel, 1.5 percent more than last year and 98 percent of pre-pandemic volumes. AAA is projecting this year will be the third busiest for Thanksgiving travel since AAA started tracking in 2000. Continuing a years-long trend, most travelers, nearly 49 million, will drive to their holiday destinations between Nov. 23 to 27, according to AAA. That number is up 0.4 percent from 2021 but still 2.5 percent below 2019 levels. "Families and friends are eager to spend time together this Thanksgiving, one of the busiest for travel in the past two decades," says Paula Twidale, AAA's Senior Vice President of Travel. "Plan ahead and pack your patience, whether you're driving or flying."

HOSPITAITY FIRM OYO Rooms has filed fresh documents with India's stock market regulator, Securities and Exchange Board of India, for an Initial Public Offering in early next year, media reports said. The company filed fresh financial documents on Sept. 19 and is now targeting an IPO in January 2023, according to CoStar. OYO filed preliminary IPO documents in 2021, only to shelve the listing plan earlier this year after the prolonged pandemic hurt its growth and forced the company to cut thousands of jobs. The latest financial documents showed narrower losses and a rebound in sales for the year through March 2022 and in the three months to June 2022.

HIHOTELS BY HOSPITALITY International announced the winners of its 2021 awards. These awards recognized six properties and a vendor in meeting and exceeding the company's standards of operations last year, the company said. "Last year was very challenging again for the hospitality industry, so it was truly inspiring to see so many of our franchisees show such tremendous resilience and determination to succeed. I'd like to commend every one of our award winners and nominees for going above and beyond and showing great pride in what they do," said Chris Guimbellot, president and CEO at hihotels.