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DESPITE PROJECTIONS OF persistent inflation and a moderate economic recession, CBRE's November 2022 Hotel Horizons forecast calls for a 5.8 percent increase in RevPAR in 2023. This is up from CBRE's previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE's increased outlook for RevPAR is an expected 4.2 percent rise in ADR, driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the U.S. to increase by 3.5 percent year over year. Inflation continues to have a mixed impact on the hotel industry, bolstering top-line growth while pressuring margins. Supply and Demand Inflation is also impacting development activity. the combination of rising construction material costs, a tight labor market, and high interest rates will serve to keep supply growth over the next five years 40 percent lower than historical trends. Instead of construction, we expect cash flows in the near term to be focused on debt reductions, renovations and remodels given the backlog of Capex that built up during the pandemic. Given its forecast for a 0.2 percent decline in 2023 gross domestic product, CBRE lowered its expectations for demand growth from 3.3 percent in their August 2022 forecasts to 2.9 percent in the November update. With the projected supply increase remaining at 1.2 percent for 2023, the net result is a reduction in CBRE's occupancy growth estimate for the year to 1.6 percent, down from the 2 percent increase previously forecast. the lowering of occupancy expectations will somewhat offset the enhanced outlook for ADR growth.

HOSPITALITY INDUSTRY ASSOCIATIONS are welcoming two laws, one proposed on a federal level and another passed by the state of Tennessee. the federal law is long-awaited clarification of the definition joint employers and the Tennessee law limits regulations by local governments in the state that would affect small businesses, including hotels. A clear definition Versions of the Save Local Business Act recently was introduced in the U.S. House of Representatives and the Senate. Sponsors of the bill say it will provide clarity on Department of Labor's proposed new joint employer rules that have undergone multiple changes lately, leading to legal confusion. "You can't focus on running a business if the federal government keeps changing the rules. the Save Local Business Act provides long-overdue clarity and consistency that will protect our nation's small businesses," said one of the bill's sponsors, U.S. Sen. Roger Marshall. "the Biden Administration's Labor Department has relied on complicated court rulings to handle joint employers instead of providing clear guidance to the business community. In a time of economic hardship, we should be doing all that we can to help our nation's small businesses, not let the heavy hand of government regulations run amok."

THE REVPAR OF U.S. hotels reached an all-time weekly high on a nominal and a pandemic-era high on an inflation-adjusted basis in THE third week of June, according to STR. Boosted by THE highest weekly demand of 28 million room nights sold since August 2019, occupancy was THE highest of THE pandemic-era during THE week. Occupancy was 71.8 percent for THE week ending June 18, up from 70.6 percent THE week before and dropped 4.8 percent from 2019. ADR was $155.02 for THE week, slightly down from $155.37 THE week before and increased 14.9 percent from three years ago. RevPAR reached $111.29 during THE week up from $109.76 THE week before and up 9.4 percent from 2019. San Diego saw THE only occupancy increase, up 0.5 percent to 86 percent, over 2019 among STR's top 25 markets. According to STR, New York City (86.6 percent), San Diego and Seattle (85 percent) led THE major markets in absolute occupancy for THE week.

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.

THE BAIRD/STR HOTEL Stock Index dropped in June for THE second consecutive month. THE index dropped for THE first time, after rising continuously for five months, in May. Baird/STR recorded a sharp fall of 19.3 percent in June, according to STR. THE index 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 index decreased 21.6 percent during THE first six months of 2022. THE Baird/STR Index fell behind both THE S&P 500, dropped 8.4 percent from May and THE MSCI US REIT Index, down 7.9 percent respectively during June. THE hotel brand sub-index fell 19.3 percent from May, while THE Hotel REIT sub-index dipped 19.5 percent during THE month. "Hotel stocks continued on THEir downward trajectory in June and were significant relative under-performers as investors began to factor in an increasing likelihood of an impending recession," said Michael Bellisario, senior hotel research analyst and director at Baird. "While THE upcoming summer travel months are expected to be strong, investors are looking beyond THE near-term fundamental strength to a period when demand and ADR growth are likely to moderate, which is supported by THE many macroeconomic indicators that are flashing signs of broader slowing."

THE U.S. HOTEL construction pipeline continued to grow in THE third quarter, up 7 percent year-over-year by projects and rooms, according to Lodging Econometrics. THE growth was moderate, with current project count 3 percent below and rooms 14 percent below THE all-time high of 5,883 projects and 785,547 rooms reached in THE second quarter of 2008. THEre were a total of 5,704 projects and 672,676 rooms in THE construction pipeline by THE end of THE quarter, according to LE's Construction Pipeline Trend Report for THE U.S. That's up from 5,572 projects with 660,061 rooms at THE end of THE second quarter. THEre were 1,063 projects with 140,331 rooms under construction at THE close of THE third quarter, an increase of 8 percent by projects and 4 percent by rooms YOY. Projects scheduled to start construction in THE next 12 months stand at 2,234 projects with 257,729 rooms, up 8 percent YOY by projects and 9 percent by rooms. Projects and rooms in THE early planning stage each increased 7 percent to stand at 2,407 projects with 274,616 rooms, just 27 projects and 5,296 rooms shy of THE all-time high.

MORE ASSOCIATIONS ARE joining the American Hotel & Lodging Association in protesting the National Labor Relations Board's recently issued final ruling on the definition of joint-employer status. the ruling essentially broadens the definition to any "entity that has an employment relationship with the employees," and AAHOA, AHLA and the other associations say it could damage the current franchise business model. NLRB's new standard, issued last week, defines a joint employer to be any company that shares or codetermines one or more essential terms and conditions of employment. Those include: Wages, benefits, and other compensation. Hours of work and scheduling. the assignment of duties to be performed. the supervision of the performance of duties. Work rules and directions governing the manner, means, and methods of the performance of duties and the grounds for discipline. the tenure of employment, including hiring and discharge. Working conditions related to the safety and health of employees.

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 increased in the third week of February mainly due to Presidents' Day weekend, according to STR. the data research firm also reported improvement for the week compared to 2019. Occupancy was 59.1 percent for the week ending Feb. 19, up from 54.6 percent the week before and down 8.4 percent for the same period in 2019. ADR was $140.11 for the week, increased from $133.72 the week before and up 8.4 percent from two years ago. RevPAR was $82.87 for the week, up from $73 the week before and down just 0.8 percent from the same period two years ago. Norfolk/Virginia Beach recorded the only occupancy increase among STR's top 25 markets in the third week of February, up 5.7 percent to 55 percent, over 2019. According to the report, Miami posted the highest ADR increase during the period, increased 28 percent to $347.48, followed by Super Bowl LVI host, Los Angeles, which was up 26.4 percent to $225.07.

DRIVE-TO DESTINATIONS, such as beach towns, have seen steadily rising occupancy this summer as people seek to escape the restrictions of life in the COVID-19 pandemic. That is driving a wave of developments of Choice Hotels International's upscale Cambria brand around the country, including Cambria Hotel Ocean City - Bayfront in Ocean City, Maryland, developed by Mihir Wankawala of the Wankawala Organization. the eight-story, 137-room Cambria Ocean City - Bayfront, the fourth Cambria in the state, is near the city's Boardwalk and the Inlet event forums as well as other attractions like the Outlets Ocean City shopping center, Splash Mountain Water Park and Northside Park. Wankawala, who partnered with Tauhid Islam of PiNNacle Hospitality Group on the hotel, said he has confidence in the market despite the current pandemic related downturn. Work on the hotel had just been completed when the pandemic hit.

THE U.S. TRAVEL ASSOCIATION said that THE Biden administration's National Electric Vehicle Infrastructure program will shape THE future of travel mobility in THE U.S. It will make foundational investments in THE national EV charging network, USTA said in a statement. THE association urged state departments of transportation to work closely with THE community of destination marketing organizations, state tourism offices, and private travel businesses to make data-driven recommendations on THE most popular electric vehicle corridors where investments should be made, a statement said. In early February, THE Biden administration announced a new program which will make $5 billion available to states over THE next five years to help build out THEir charging networks. THE plan is allocating $615 million in funds for 2022, with THE disbursements already planned from now through 2026, with THE caveat that THE government has to approve THE state's individual plans for spending.

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.

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."

OFFICIALS OF THE "She Has a Deal" annual hotel investment pitch contest announced THE five teams selected to advance to THE final round of SHaDPitch 2023. THE competition allows early career women to compete for THE prize of $50,000 of equity in SHaD's Prosperity Fund I, following THE conclusion of a virtual, preliminary round of pitching, SHaD said in a statement. SHaD 2023 will be held at THE new Marriott Headquarters in BeTHEsda, Maryland, on April 27 to 28. According to THE statement, THE goal of SHaD is to increase THE number of women owning and developing hotels. It provides participants with THE ability to source, analyse, raise capital and close hotel real estate investment deals. During THE preliminary judging round, eight teams comprising 15 participants pitched THEir hotel investment acquisition or development projects live on Zoom to a judging panel of hotel business executives, entrepreneurs, and investors. THE judges evaluated and selected THE following five teams: Sydney Young and Rachel Nicholson with SpartanStone, graduates of Michigan State University, pitching a La Quinta Inn & Suites in Lewisville, Texas. Chandler Williamson with Chanders Core Commitment, graduate of North Carolina Central University, pitching a Hilton Garden Inn in Raleigh/Durham, North Carolina. Isabella Suffredini, Veronica Lewis and Alexandra Neoman with CROWN, graduates of Cornell University, pitching a TownePlace Suites in Houston, Texas. Makenna Price with Hookipa Hospitality, graduate of Washington State University, pitching a Fairfield Inn & Suites in Ft. Lauderdale, Florida Allison Busch and Hannah Takekawa with AH Hospitality, graduates of San Diego State University, pitching a Staybridge Suites in Austin, Texas "Every year, I grow more encouraged that we are making an impact," said Tracy Prigmore, founder of SHaD. "THEse are brilliant women who benefit from THE education and programming that SHaD provides, and THEir hotel investment acumen has grown by leap

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.

SAI LLC, LED by president Rajesh "Raj" Bhagia, recently won the 2023 Hilton Americas Development Award for New Build - Tru by Hilton in Brooklyn, New York. the 101-room Tru by Hilton Brooklyn, which opened in March, marked the brand's debut in New York city. the Hilton Development team selected 52 winners based on criteria such as quality of hotels developed and in operation, commitment to quality of projects, impact on local community and early adoption of newer brands, Hilton said in a statement. Along with the Development Awards by Brand, categories included Lifetime Achievement Award, New Developer of the Year, Conversion Developer of the Year, Multi-Brand Developer of the Year, Multi-Brand Deal of the Year and Developer of the Year by Category. "We are thrilled to celebrate our owner and development partners who are the recipients of the 2023 Americas Development Award," said Danny Hughes, Hilton's president for the Americas. "Over the last year, we've seen travel continue to grow across the Americas, creating even more opportunities for our partners to welcome guests to their hotels in exciting destinations across every corner of the region. From our legacy properties to our new developments, we are excited to see this continued growth and add even more exceptional hotels to our portfolio."

U.S. HOTEL PERFORMANCE dropped in the first week of January from the prior week, although year-over-year comparisons showed improvement, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined at the start of the New Year compared to the previous week. Occupancy was 46.8 percent for the week ending Jan. 6, down from the previous week's 50.1 percent and reflecting a 0.7 percent year-over-year decrease. ADR fell to $152.17, compared to the prior week's $163.58, showing a 7.2 percent increase from the previous year. RevPAR decreased to $71.28 from the prior week's $82.1, but rose 6.4 percent from the corresponding period in 2023. Among the top 25 markets, New Orleans saw the largest year-over-year increases in each of the three performance metrics. Its occupancy was up 36.5 percent to 61.2 percent, ADR was up 43.5 percent to $211.90 and RevPAR rose 95.9 percent to $129.62. the market's performance was boosted by the Sugar Bowl, FAN EXPO New Orleans and multiple Mardi Gras parades.

STARWOOD CAPITAL GROUP, a US-based private equity firm, recently purchased10 Radisson Blu Edwardian properties in London, totaling 2,053 rooms, from Edwardian Hotels London, a U.K. hospitality group with Jasminder Singh as chairman. The financial details of The deal remain undisclosed, but a Bloomberg report estimated The transaction at around $1 billion (£800 million). Edwardian Group will continue to manage The portfolio during a transitional period, The company said in a statement. Edwardian Hotels London will retain operational control and continue managing The Londoner Leicester Square, launched in September 2021, along with its two Radisson Collection hotels-The May Fair in Mayfair and The Edwardian Manchester in Manchester. Jasminder Singh is chairman of Edwardian Group. "Following The successful launch of The Londoner and a period of strong trading across The portfolio, this sale represents an opportunity to refocus The group and position it for its next chapter," said Inderneel Singh, CEO of Edwardian Group and son of Jasminder Singh. "Our three landmark properties - The Londoner, The May Fair Hotel, and The Edwardian Manchester - are perfect showcases of our vision for The future, and we remain committed to investing in and delivering distinctive experiences for guests in high-end, purpose-built, city-centre hotels."

THE HISTORY OF Indian immigrants in THE U.S. could fill several books, but Mahendra Doshi has captured a core aspect of it with his book "Surat to San Francisco: How THE Patels from Gujarat Established THE Hotel Business in California 1942-1960." THE book is, as THE title says, THE story of THE individuals who first left THEir home for a roundabout journey to THE American Dream. Doshi is journalist in San Jose, California, not a businessman himself, but he is originally from Vadia in THE Indian state of Gujarat. His family moved to Calcutta in West Bengal where Doshi earned degrees from Presidency College and THE University of Calcutta before moving to THE U.S. in 1967 and eventual graduated with a master's degree from THE University of Nevada, Reno. "I have never even thought of business. I had a degree in journalism and I did marketing work for General Motors. That's where I made my living for 30 years," Doshi said. "At THE same time, I pursued my journalistic impulses. I wrote for mostly all those ethnic papers, Indian ethnic papers like India Times of Chicago and India West and India Post." Doshi also published two "Who's Who among Indians" lists in 1976 and 1981. That whet his appetite for exploring his people's history.

THE U.S. SUPREME Court overturned a lower court ruling that found Grants Pass, Oregon's ban on outdoor sleeping on public lands violated THE constitution's prohibition of cruel and unusual punishment. AAHOA expressed concerns over THE ruling in THE case that could push THE homeless population into hotels. Previously, THE U.S. Ninth Circuit Court held that enforcing city ordinances banning outdoor sleeping did violate THE Eighth Amendment's Cruel and Unusual Punishments Clause "whenever THE number of homeless individuals in a jurisdiction exceeds THE number of 'practically available' shelter beds," according to THE Supreme Court ruling. This led to several lawsuits against cities filed by homeless advocates, including one against Grants Pass that led a district court to file an injunction prohibiting THE city from enforcing THE ordinance. THE Supreme Court overturned THE district court's holding, saying THE city's punishments for violations, including fines in first offenses and imprisonment for multiple violations, did not meet THE Eighth Amendment's definitions of cruel and unusual. That ruling has an immediate impact on cities and counties in Oregon and oTHEr Western states, according to Oregon media.