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MORE THAN 109 million people are expected to travel over the Christmas and New Year's holidays, most of them on the road as gas prices drop, according to AAA Travel. The COVID-19 Omicron variant is having an impact, primarily to lower gas prices. The number of travelers going 50 miles or more between Dec. 23 and Jan. 2 is a 34 percent increase from 2020, AAA said in its travel forecast. That extra 27.7 million people traveling brings this year's numbers to 92 percent of 2019 levels. "Americans who canceled their vacations in 2020 want to gather with family and friends for the holidays this year, although they will still be mindful of the pandemic and the new omicron variant," said Paula Twidale, senior vice president of AAA Travel. "With vaccines widely available, conditions are much different, and many people feel a greater level of comfort with travel." As in years past, driving remains the most popular form of travel, with more than 100 million planning to get behind the wheel. More than 6 million people are expected to travel by air, while 3 million people are booking buses, trains and cruises.

DAVID KONG, THE recently retired president and CEO of Best Western Hotel Group, is the inaugural recipient of the Arne Sorenson Social Impact Leadership Award. The award, sponsored by the American Hotel & Lodging Association, the American Hotel & Lodging Foundation and The BHN Group, is named after the late Arne Sorenson, the former president and CEO of Marriott International who passed away in February. Kong will be recognized during the AHLA Foundation's fundraising gala, the Night of a Thousand Stars on Jan. 23, as well as during the 21st Annual Americas Lodging Investment Summit in Los Angeles on Jan. 25, according to a press release from AHLA. The award will be presented annually to a senior-level executive in the lodging industry to recognize their leadership and community engagement. Nominations are reviewed by AHLA's executive committee and representatives from ALIS.

HOTEL CONSTRUCTION DROPPED in December, falling 61,000 rooms below the peak reached in early 2020, according to STR. The number of projects under construction and in final planning is particularly down from the same time last year while many more are in the planning phase. There were 158,906 rooms in the construction phase in December, down 19.2 percent from the same month in 2020, according to STR. There were 185,231 rooms in final planning, down 20.6 percent from 2020, but there were 284,502 rooms, up 38.9 percent from the previous December. "This past year was the second in a row with far fewer rooms in construction and final planning, but the rise in planning activity could be an indicator that the pandemic's impact on the pipeline will be different than what we saw during the Great Recession," said Alison Hoyt, STR's senior director of consulting. "During the previous recession, construction declines persisted from 2008 through 2010, but with massive jump in planning today, the construction downturn may not last as long as more rooms advance to later phases of the pipeline."

HOTEL STOCK PRICE volatility dragged the Baird/STR Hotel Stock Index in November. Both the hotel brands and hotel REITs significantly underperformed their respective benchmarks during the month. The Baird/STR index fell 7.6 percent during the month from October. However, it was up 11.5 percent year to date through the first 11 months of 2021. The index rose 6.8 percent during October compared to September. The index was behind both the S&P 500, which fell 0.8 percent in November, and the MSCI US REIT Index, which dropped 0.9 percent. The hotel brand sub-index dropped 7.2 percent from October while the hotel REIT sub-index slipped 8.9 percent. "Hotel stock price volatility continued in November with both the Hotel brands and Hotel REITs significantly underperforming their respective benchmarks," said Michael Bellisario, senior hotel research analyst and director at Baird. "Two different investment narratives drove stock price performance during the month: In early November, third quarter earnings were better than expected, reopening optimism continued to gain momentum, and the hotel brands were hitting new all-time highs; but, by the end of the month, broader growth and inflation concerns surfaced, the Omicron variant spooked investors and impacted all travel-related stocks, and the hotel REITs were hitting new year-to-date lows."

Prakash Padariya is now chief information security officer for IT and security teams at OYO. Prior to that, he was with Netherlands headquartered online payment solutions provider PayU in a similar role. Previously, Padariya worked in senior management roles for a variety of companies, including GE, Royal Bank of Scotland, IBM, Target Corporation and Accenture, according to the company. He will oversee OYO's security strategy globally and will report to chief technology officer Ankit Mathuria. According to the company, Padariya also will be responsible for leveraging technologies such as big data analytics and artificial intelligence to enhance cyber security functions from the ground.

THE FIRST TWO months of 2022 saw up and down performance by Baird/STR Hotel Stock Index, according to STR. In January, the index sank, then in February it rose again, regaining lost ground. In January, the index dropped 3.8 percent after rising 12.7 percent in December. The index still outperformed both the S&P 500, which dropped 5.3 percent that month, and the MSCI US REIT Index, which dropped 7 percent. The hotel brand sub-index fell 4.3 percent from December and the hotel REIT sub-index declined 2.2 percent. "Despite the significant stock market volatility to start the year, both the hotel brands and hotel REITs outperformed their respective benchmarks in January, which continued the momentum from the end of 2021," Michael Bellisario, senior hotel research analyst and director at Baird, said at that time. "Positively, Omicron-related concerns are slowly subsiding, and investors are looking forward again. At the same time, leisure demand remains robust, optimism regarding a more normalized travel environment is building, and the broader growth-to-value rotation has benefitted hotel stocks as inflation pressures remain front and center."

THE BAIRD/STR Hotel Stock Index rose in March, continuing a trend from the previous month. Still, continued growth remains at risk by factors such as inflation and political unrest. The index increased 2.2 percent in March after rising 4.1 percent in February. It rose 2.4 percent year to date through the first three months of 2022. However, Baird/STR fell behind both the S&P 500, up 3.6 percent in March, and the MSCI US REIT Index, which rose 5.9 percent. The hotel brand sub-index rose 1.4 percent from February, while the Hotel REIT sub-index jumped 5.1 percent. "Hotel stocks increased in March but underperformed their benchmarks as stock market volatility eased and geopolitical concerns did not worsen," said Michael Bellisario, senior hotel research analyst and director at Baird. "Underlying hotel fundamentals continued to improve in March, and the outlook appears more favorable today than just one month ago despite all of the background noise in the stock market and with interest rates on the rise. Higher gas prices and heightened concerns about a slower growth backdrop have been topical with investors lately, but broader travel momentum and pent-up demand should keep the lodging recovery going over the near term, in our opinion."

The GG2 Power List profiles Britain's 101 most influential Asians, providing a snapshot of Asian power and influence in Britain today. Each year, the list undergoes an extensive refresh and our panel of senior editors and experts face an arduous challenge in whittling down our long list to 101. The list celebrates the extraordinary talent that exists in the British Asian community: an eclectic mix of talent across the nation. It features exclusive interviews with pioneers across the arts, media, business science, technology and the public sector. As the mayor of London, Sadiq Khan, said: "the GG2 Power List is about the best and most talented people in the country, who just happen to be Asians". The list serves to inspire and nurture the next generation of leaders and achievers. The GG2 Power List is launched in October at the GG2 Leadership Awards. Along with the Leadership Awards and Diversity Conference, we celebrate the success of ethnic communities in Britain and showcase how a more inclusive society can unleash talent.

BEST WESTERN HOTELS & Resort executives say the company is riding a wave of success that brought its members to Hawaii for its 2023 Annual Convention. Best Western benefited from budgeting for a forecasted recession that now seems unlikely this year, and saw continued growth domestically and internationally with India "top of mind." Other topics addressed during the convention at Hilton Hawaiian Village in Honolulu last week include the strategy to be followed by Joelle Park, Best Western's newly hired senior vice president and chief marketing officer. Also, the company's new program to advance women in hotel ownership was getting under way. Making waves Larry Cuculic, president and CEO, opened the conference giving details on the company's performance. "The Big Wave reflects the surge that BWH Hotels has made in the travel industry and how we are making 'big waves' together all over the world," Cuculic said. "Our Big Wave has rippled through our organization, our industry, and our lives, touching our guests, our communities, and leaving a rich legacy of success."

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."

U.S. HOTEL CONSTRUCTION increased slightly in December after 25 consecutive months of decline, according to STR. Projects in the later stages of development saw a reversal in their decline and luxury projects were up. There are 159,344 rooms in construction during the month, up 0.3 percent, over Dec. 2021. As many as 213,066 rooms are in the final planning state, an increase of 15 percent over last year. STR pipeline data added that 240,092 rooms are under planning, a decline of 15.6 percent. New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. The luxury and upscale segments would see the most supply. "While the overall pipeline continued to contract year over year, December showed strength in the later phases of development," said Alison Hoyt, STR's senior director of consulting. "Over the past year, we've seen late-stage pipeline rooms consistently decline from 2021 levels, while rooms in the planning phase often showed double-digit growth. We started to see a change in this pattern in November, when final planning rooms significantly jumped year over year and planning rooms came down pretty firmly. The same occurred in December, with the only difference being construction increasing slightly over 2021. When looking strictly at volume, the in-construction phase has been fairly stable throughout the year, remaining under 160,000 rooms and showing month-over-month increases from July through October and again in December."

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."

NATALIE ROBINSON IS now vice president of people and culture for Peachtree Group. Also, the Atlanta-based company, led by Jatin Desai and Mitul Patel as managing principals, also says it's on the way to a record year for new hotel construction. Good with people Previously, Robinson was the human resource director of title company OS National, according to Peachtree Group. She began her career developing accounting and billing policies and procedures, as well as human resources systems for two Atlanta law firms. She holds a bachelor's degree in sociology and criminal justice from the University of Georgia. "It's an exciting time at Peachtree as our organization expands and evolves," said Vivian Clarke, Peachtree's senior vice president of people and culture. "Natalie's strong leadership skills will advance our culture, drive our growth and talent strategy, and strengthen our reputation as an employer of choice. We are proud of Peachtree's high team member engagement, and the company culture built and recognize the opportunity to improve our people processes and discipline as we further scale the business." Peachtree made several changes to its structure and leadership in September.

DOROTHY DOWLING HAS joined her old boss, David Kong, as a principal for Kong's DEI Advisors, a non-profit organization that aims to empower women and other underrepresented groups to achieve their career goals. Previously, Dowling was chief marketing officer at Best Western Hotels & Resorts for 18 years while Kong was Best Western's CEO for 20 years. Kong, along with principals Rachel Humphrey and Lan Elliott, formed DEI Advisors last year. Humphrey is the former executive vice president and COO for AAHOA, and Elliott is co-founder of Acacia Hospitality LLC. Dowling also held senior leadership positions with other hospitality companies, including Wyndham Hotels & Resorts, Forte Hotels, Travelodge Canada, Royal Host REIT and ARAMARK. She serves as a board member and advisor for several organizations, including Cubesmart, HSMAI, and WINiT by GBTA. Dowling recently received the lifetime achievement awards from the Hospitality Sales and Marketing Association International, the NYU International Hospitality Industry Investment Conference for her business performance, and GBTA WINiT for her leadership advancing diversity, equity, and inclusion in the hospitality industry, according to DEI Advisors.

HYATT CORP. HAS expanded its relationship with group hospitality analytics firm Knowland, a statement said. The new partnership is aimed at increasing sales, the company said. With this partnership, Hyatt became the first global hotel brand to offer access to the Knowland database through a portfolio-driven program to its properties, the statement added. Hyatt will use Knowland's business tools that provide intelligence within meetings and events booked in its current markets as well as feeder markets. The expanded Knowland relationship standardizes program terms pre-approved for all Hyatt branded hotels, including franchise operators. "At Hyatt, it's important to be nimble in our commitment to providing technology for all of our hotels," said Steve Enselein, senior vice president of events at Hyatt. "Access to Knowland data allows our hotel sales teams to generate topline revenue that can maximize profit through group sales, creating value across our portfolio for hotel owners and operators."

THE BAIRD/STR HOTEL Stock Index jumped in July, ending a downward trend for two consecutive months. The index decreased 10.4 percent year-to-date for the first seven months of 2022. Baird/STR Index recorded a sharp increase of 14.3 percent in July, according to STR. The index fell 19.3 percent in June and dropped 5.8 percent in May. It went up 0.7 percent during April. It increased 2.2 percent in March after rising 4.1 percent in February. The Baird/STR Index surpassed both the S&P 500, up 9.1 percent from June, and the MSCI US REIT Index, increased 8.7 percent, respectively during July. The hotel brand sub-index rose 14.2 percent from June, while the Hotel REIT sub-index increased 14.6 percent during the month. "Hotel stocks rebounded sharply and outperformed their respective benchmarks in July; relative outperformance has continued in August," said Michael Bellisario, senior hotel research analyst and director at Baird. "Despite the big gains in July, hotel stocks did not fully recapture June's losses. Positively, second quarter earnings exceeded analysts' and investors' expectations, and broader recession fears have begun to subside, which has boosted sentiment and stock prices. All eyes are on the post-Labor Day outlook that should reflect a more normalized travel environment."

THE BAIRD/STR Hotel Stock Index fell 9.1 percent in September, according to STR. Experts said that they have concerns regarding recession and its impact on the sector. The index witnessed a sharp drop of 20.6 percent year-to-date through the first nine months of 2022. In September, the Index surpassed both the S&P 500, down 9.3 percent, and the MSCI US REIT Index, which fell 12.8 percent. The hotel brand sub-index decreased 7.7 percent from August to 8,268, while the Hotel REIT sub-index dropped 13.5 percent to 989. "September was a risk-off month for the broader market, and hotel stocks were down sharply as well. However, the Hotel REITs were modest underperformers only, while the Global Hotel Brands were slight relative outperformers," said Michael Bellisario, senior hotel research analyst and director at Baird. "Broader macroeconomic concerns continue to dominate investor sentiment and positioning, but underlying hotel fundamentals held steady throughout the month, which relatively helped the hotel stocks during a volatile time for the capital markets. Investors continue to ask about recession scenarios and downside analyses for our coverage list, which suggests a lot of the bad news is being priced into the stocks, particularly the Hotel REITs, in our opinion."

STONEHILL PACE, THE Property Assessed Clean Energy financing division of Stonehill, has provided $16.3 million in its first commercial property assessed clean energy (C-PACE) financing in Washington, a statement said. The loan is for the Cornus House, a new 199-unit multifamily project with 1,233 square feet of retail development in Tacoma, Washington. The C-PACE financing is over a 30-year term and will fund lighting, covered process, seismic and qualifying soft costs, according to Stonehill PACE. The project development is expected to start before the year end and is scheduled to be finished by Nov. 1, 2024. "For eligible projects, C-PACE financing remains one of the more attractive venues to get a project over the finish line," said Jared Schlosser, Stonehill's senior vice president and head of Stonehill PACE. "The Cornus House is a great project in a strong market led by a savvy ownership group with 30-plus years of commercial real estate experience and a portfolio of more than 800 apartments. This C-PACE financing is the final piece to complete the financing puzzle."

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."

VISION HOSPITALITY GROUP recently broke ground on its Embassy Suites by Hilton in Chattanooga, Tennessee. The seven-story 184-suite Embassy Suites will be developed for $54 million and includes rooftop and street-level bars and a coffee area in an open lobby. The project also includes a leasable restaurant space and 5,000 total square feet of meeting space, Vision said in a statement. Vision said it will bring an economic boost to the destination with more than 100 jobs ranging from senior management positions, guest service agents, housekeepers and others. With a construction timeline of approximately two years led by Humphreys and Associates Contractors, LLC, the hotel is expected to open in the summer of 2025. "We are thrilled to begin construction on this project in our hometown of Chattanooga, just steps from our company headquarters," said Mitch Patel, Vision's president and CEO. "This project is our first Embassy Suites hotel, and we know the brand's value-added services are a perfect fit for this location welcoming both corporate and leisure travelers." Embassy Suites by Hilton, one of Hilton's 19 brands. Amenities will include a fitness center and an evening reception. Embassy Suites by Hilton has more than 260 open hotels, with 42 properties under development. The Embassy Suites Chattanooga is one among 15 projects in Vision's development pipeline expected to open in the next two years. The company's portfolio comprises 16 properties in Greater Chattanooga and 41 nationwide, the statement added.