Ed Brock is an award-winning journalist who has worked for various U.S. newspapers and magazines, including with American City & County magazine, a national publication based in Atlanta focused on city and county government issues. He is currently senior editor at Asian Hospitality magazine, the top U.S. publication for Asian American hoteliers. Originally from Mobile, Alabama, Ed began his career in journalism in the early 1990s as a reporter for a chain of weekly newspapers in Baldwin County, Alabama. After a stint teaching English in Japan, Ed returned to the U.S. and moved to the Atlanta area where he returned to journalism, coming to work at Asian Hospitality in 2016.
“BE ONE BODY” and roar like a pride of lions, Pujya Brahmviraharidas Swami, one of India’s leading saints, told attendees of the 2023 AAHOA Conference and Trade Show in Los Angeles last week in his keynote speech. However, his call for unity came at a time when several large hotel companies boycotted AAHOACON23 over AAHOA’s support for franchising reform.
The association’s new chairman, Bharat Patel, will have to lead the effort to follow Pujya Brahmviraharidas Swami’s guidance and unite the membership in light of the split with Marriott Hotels International, Choice Hotels International and others. The leadership required will take courage, said Pujya Brahmviraharidas Swami, who spearheads the global outreach of BAPS in the U.S. to spread harmony and collaboration and who the Indian government and heads of state have called upon for guidance.
“This is not just a story of celebrating the past or creating the future, but also of recalibrating the present. This is not a story of a motel and a mouse,” Brahmaviharidas said. “This is a story of an empire of hospitality and a pride of lions. Roar in the right direction, in the right way, and the world will listen.”
Also during AAHOACON23, which set a record level of booth sales for the trade show, members elected new board members. The association also announced a new charity organization dedicated to helping victims of natural disasters, and software company Virdee took the top prize in the inaugural AAHOA Tech Pitch Competition.
Change of command
New Chairman Bharat Patel officially moved into the top spot on the board on the last day of the conference at the Los Angeles Convention Center. He replaced Nishant “Neal” Patel and will be followed next year by Miraj Patel, who is now vice chairman.
“Like the theme from AAHOACON23, I look forward to honoring the past and creating a bolder future by working with AAHOA’s nearly 20,000 members to ensure we reestablish strong partnerships with our state associations, grow the AAHOA PAC to new record levels, and make advocacy front and center to AAHOA’s mission and vision,” Bharat said in his acceptance statement.
From left, AAHOA Chairman Bharat Patel, past Chairman Nishant “Neal” Patel, AAHOA Treasurer Kamalesh “KP” Patel and Vice Chairman Miraj Patel prepare to shoot T-shirts into the crowd and AAHOACON23.
Bharat’s family, including parents Matan and Kalavati and sisters, came from the village of Rola in India to the U.S., by way of England, in June 1980 when he was 9 years old. They first arrived in Boston, where Kalavati had family, but eventually made their way to Florida where he currently lives in Sarasota.
Previously, Bharat said advocacy and education would be the focus of his administration.
“We really want to try to help tackle this labor market and also advocate for higher limits on [Small Business Administration] loans,” he said. “Those are the two things we're really pushing for. And on the state level, there's a lot of short-term rental laws trying to be passed. On short term rentals, that's Airbnb, VRBO, being vacation homes that are rented monthly, now they're turning into daily or day-to-day rentals.”
Rahul Patel, owner of the Wisdom Group in Bradenton, Florida, is the new AAHOA secretary.
Kamalesh “KP” Patel moves from secretary to treasurer now, and Rahul Patel, owner of the Wisdom Group in Bradenton, Florida, is the new AAHOA secretary. Elections also were held for several regional director positions, director at Large Western Division, Young Professional Director Eastern Division and Women Hoteliers Director Eastern Division.
AAHOA’s ‘fair franchising’ stance leads to absences
While AAHOA said booths at its trade show were sold out, there were several notable absences. In January, Marriott International announced it would withdraw its support for AAHOA and the conference in response to the association’s 12 Points of Fair Franchising and its support for New Jersey Assembly Bill 1958, which would make changes to the state’s Franchise Practices Act that could benefit franchisees.
Choice Hotels International followed suit in February. Along with those two companies, however, several others that ordinarily attend AAHOACONs did not have booths at the show, including IHG Hotels & Resorts and Hilton. Other companies, including G6 Hospitality, BWH Hotel Group and Red Roof, have publicly endorsed the 12 Points.
Wyndham Hotels & Resorts also attended. However, Wyndham President and CEO Geoff Ballotti said his company does not support the New Jersey franchise law but AAHOA members make up a substantial percentage of their franchisees. He said the way the bill is currently written would “handcuff” franchisers and prevent them from providing what their owners want.
Laura Lee Blake, president and CEO of AAHOA, on stage at AAHOACON23.
“We support AAHOA, we support being here,” he said. “It is something that it would be great to see us all together on legislative issues like that. Hopefully we’ll find our way through this so we are on the same side of the issue.”
Rahul Patel was asked about the importance of supporting the New Jersey bill during the candidates’ debate.
“The owners came up with this beautiful bill. It is protecting hotel owners’ interest, bottom line,” he answered. “No, they cannot sell points for profit. They cannot make money on vendor programs. This cannot go away from the contract they themselves signed. They cannot take away my idea of protection. Those are the important things AAHOA said is to protect the owners. And that's why we have to continue that support. Because this is the only Association who cares about all of the bottom line and more states where such goods should be introduced to protect.”
Marriott and Choice declined to comment on the conflict previously. Former AAHOA Chairman Hitesh “HP” Patel, now chief operating officer for Houston-based Curve Hospitality, said he remains optimistic for a solution.
“I think there's going to be a resolution at the end day,” HP said. “AAHOA relies on vendor partners and vendors rely on AAHOA. The issues that are happening right now, I'm pretty confident that was going to get resolved pretty soon. And it's just a conversation that needs to be had, we have to work with our vendor partners at the end day.”
In other news
On the first day of the show, AAHOA announced the creation of the AAHOA Charitable Foundation, a non-profit aimed at providing disaster relief, educational scholarships and grants, charitable initiatives for worthy causes, and humanitarian aid.
“I can think of no better way to conclude my chairmanship of AAHOA than by launching the AAHOA Charitable Foundation,” said Neal Patel. “AAHOA members are hardworking, creative, and entrepreneurial. They are also generous and community-minded. The AAHOA Charitable Foundation gives all of our members a new outlet to continue supporting our communities.”
To mark the launch of the new foundation, AAHOACON23 attendees made donations with the goal of raising $50,000 in the first week.
“Through charitable golf tournaments, hurricane relief efforts and other charitable activities, AAHOA members believe in giving back to our local communities,” Bharat Patel said. “The AAHOA Charitable Foundation builds on these efforts and provides a new venue for AAHOA members to support their communities.”
Also, a panel of five judges with expertise in technology and hospitality chose Virdee’s Virtual Reception Software from a field of eight finalists in the Tech Pitch Competition. Rajiv Trivedi, former brand president for Wyndham Hotels & Resorts Inc.’s La Quinta Inn and chairman of TST Capital, is a founding investor in the company.
The competition is designed to help identify and elevate companies with ideas and products that will help the hospitality industry face challenges, like labor shortages, from the pandemic.
“It's super exciting when you start a company, and you start selling the product, and the first thing you want to do is get product market fit and start building your client base. And then any sort of recognition like this is a huge honor for us. So really, it's a cool experience and a great feeling,” said Branigan Mulcahy, co-founder of Virdee, “There's a lot of great things we learned from the other companies that presented. There are things that help housekeeping be more efficient, and hiring and in tipping, and all of these other technologies that come into the flow.”
Funnyman gets serious
Comedian Hasan Minhaj was the first keynote speaker for the 2023 AAHOA Conference and Trade Show in Los Angeles April 11 to 14. Minhaj’s Netflix show “Patriot Act with Hasan Minhaj” won two Peabody Awards, and he has appeared in minor television roles, such as a recurring role on “The Morning Show with Jennifer Aniston and Reese Witherspoon.”
During his appearance, Minhaj talked about his family’s settling in California in the 1980s. His personal experience was similar to many in the audience, he said.
Comedian Hasan Minhaj, left, is interviewed by outgoing AAHOA Chairman Nishant “Neal” Patel during the 2023 AAHOA Conference and Trade Show in Los Angeles April 11 to 14.
“Like many of you kids here, I was pre-med, and that didn't work out,” Minhaj said. “I was pre-law and that didn’t work out, so here I am the keynote speaker, everything worked out fine.”
In an interview with outgoing AAHOA Chairman Nishant “Neal” Patel, Minhaj recalled the effect the release of the 2004 movie “Harold and Kumar go to White Castle” on his own career. The movie stars Indian American actor Kal Penn.
“That was a seminal moment, I think, for Indian Americans in the pop culture for cinema. And it was this ‘A-ha’ moment for me where I was like, maybe we have a place in this industry,” Minhaj said. “I was thinking about this last night when I was flying over here. I was thinking about, why is AAHOA inviting me to be a part of this. My career is so different than the story of the hotel motel business. But if you think about it, what Asian Americans are doing Hollywood right now breaking into an industry that normally wasn't typically accommodating, and it's no different than what all of you have done in the ownership business of hotels in America.”
Unity and enrichment
Keynote speakers at the 2023 AAHOA Conference and Trade Show in Los Angeles included visionary and mystic Sadhguru and Pujya Brahmviraharidas Swami from BAPS. Both men delivered spiritual advice to attendees.
Keynote speaker Pujya Brahmviraharidas Swami gestures to the audience during his keynote speech at the 2023 AAHOA Conference and Trade Show in Los Angeles.
Pujya Brahmviraharidas Swami spearheads the global outreach of BAPS to spread harmony and collaboration of all generations and backgrounds, according to AAHOA. He has played a role in some of the most recent global events at the call of the Indian government and heads of state.
Pujya Brahmviraharidas Swami urged AAHOA leaders to preserve the culture and the values they represent.
“I want you to transform the industry, or more importantly, to be you. You are different not just because we're the biggest, the largest, the wealthiest, you are different because you are the most united,” he said. “You should become a single body. What do I mean by a single body? In a body, every organ has a different role to play. The job of the eyes is what? To see the job of the ear is what? To hear. The job of the eyes is to see. Every organ in our body has a separate job. Suppose you're walking on the road. It is the job of the eye to see a stone. If the eyes are distracted and not doing their job, … if you fall on the ground you hit the head. But you still get up and say what? Thank God my eye is safe. It was the fault of the eye and still you protect the eye. Protect your people, now and forever and ever more.”
Sadhguru is known as a yogi, humanitarian and spiritual leader. He gave an interview during the show that appeared on YouTube.
“You say a machine is well engineered we mean to say it’s functioning with the least amount of friction,” Sadhguru said in the video. “If you function with the least amount of friction everything that you do will be of a beautiful nature and you’ve created a different world around yourself. Let’s make an effort.”
Mystic Sadhguru on stage at AAHOACON23.
California hotelier and longtime AAHOA member Sunil “Sunny” Tolani said Sadhguru said every human is born with an individual style of mind. People can enrich their minds through yoga, prayers or meditation to control negative thought processes and put themselves in a position to understand others and respect other people’s feelings and beliefs.
“I respect Sadhguru for his clarity of vision about life and how it can be lived happily and beautifully,” Tolani said. “Thanks to him for bringing this awareness to the present generation and AAHOANS. Every single word needs special attention to understand it's meaning.”
More than 70 percent expect a RevPAR increase in Q4, according to HAMA survey.
Demand is the top concern, cited by 77.8 percent, up from 65 percent in spring.
Only 37 percent expect a U.S. recession in 2025, down from 49 percent earlier in the year.
MORE THAN 70 PERCENT of respondents to a Hospitality Asset Managers Association survey expect a 1 to 3 percent RevPAR increase in the fourth quarter. Demand is the top concern, cited by 77.8 percent of respondents, up from 65 percent in the spring survey.
HAMA’s “Fall 2025 Industry Outlook Survey” found that two-thirds of respondents are pursuing acquisitions, 80 percent plan renovations in the coming year and 57 percent are making or planning changes to brand affiliation or management strategies.
“With hopes high for a stronger fourth quarter, hotel asset managers continue to maintain an optimistic outlook,” said Chad Sorensen, HAMA president. “More than 70 percent of our members expect RevPAR to increase 1 to 3 percent and two-thirds are pursuing acquisitions. With 80 percent planning renovations in the coming year, we see an engaged community focused on performance.”
Conducted among 81 HAMA members, about one-third of the association, the survey reports expectations for revenue growth, property investments and acquisitions.
However, the top three most concerning issues were demand, ADR growth and tariffs, HAMA said.
RevPAR growth forecast
Looking into 2026, 72.8 percent expect 1 to 3 percent growth, 18.5 percent expect 4 to 6 percent, 7.4 percent anticipate flat results and 1.2 percent project a decline. Full-year RevPAR projections versus budget are more mixed: 49 percent expect 1 to 3 percent growth, 17 percent expect flat results, 12 percent expect 4 to 6 percent growth, 2 percent expect 7 percent or more and 19 percent expect declines.
Hotel asset managers note several market pressures, the report said. Other concerns include ADR growth at 51.9 percent, tariffs at 34.6 percent, wage increases at 33.3 percent and potential Federal Reserve rate changes at 32.1 percent. Management company performance at 25.9 percent, immigration and labor trends, union activity and insurance costs were also mentioned.
“The industry is at its highest level of concern around maintaining or increasing rates,” Sorensen said. “There’s pressure to build on the P&L going into 2026.”
Performance projections
Confidence in the broader economy has increased since spring, the survey found. Only 37 percent of respondents expect a U.S. recession in 2025, down from 49 percent earlier in the year.
When asked about properties exceeding gross operating profit forecasts, 59 percent of managers expect 0 to 25 percent of their hotels to surpass targets, 25 percent expect 26 to 50 percent, 10 percent expect 51 to 75 percent and 6 percent expect 76 to 100 percent. Additionally, 20 percent reported returning hotels to lenders or entering forced sales since the spring survey.
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Hersha Hotels & Resorts sold The Boxer Boston to Eurostars Hotels.
The company acquired the property in 2012 for $12.6 million.
The property now sold for $23.6 million.
HERSHA HOTELS & RESORTS sold The Boxer Boston, an 80-room hotel in Boston’s West End, to Eurostars Hotels, part of Spain’s Grupo Hotusa. The company, which reportedly acquired the property in 2012 for $12.6 million, received $23.6 million for it.
The seven-story hotel, built in 1904, is near TD Garden, the Charles River Esplanade, One Congress, North Station and Massachusetts General Hospital, said JLL Hotels & Hospitality, which brokered the sale. It also has a fitness center.
Hersha Hotels & Resorts is part of the Hersha Group, founded in 1984 by Hasu Shah. Jay Shah serves as senior advisor and his brother Neil Shah is president and CEO.
JLL Managing Director Alan Suzuki, Senior Director Matthew Enright and Associate Emily Zhang represented the seller.
"The Boxer’s prime location at the crossroads of Boston's West End, North End and Downtown districts, combined with its strong cash flow and its unencumbered status regarding brand and management, made this an exceptionally attractive investment," said Suzuki. "Boston continues to demonstrate resilient lodging fundamentals driven by its diverse demand generators, including world-class educational institutions, medical facilities, corporate presence and convention and leisure attractions."
The property will become the Spanish hotel chain Eurostars’ fifth U.S. hotel, supporting the group’s North American expansion, the statement said.
Amancio López Seijas, president of Grupo Hotusa and Eurostars Hotels Co., said the addition of Eurostars’ The Boxer strengthens the company’s presence in key locations and promotes urban tourism.
Peachtree recognized by Inc. and the Atlanta Business Chronicle.
Named to the 2025 Inc. 5000 list for the third year.
Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing companies.
PEACHTREE GROUP ENTERED the 2025 Inc. 5000 list for the third consecutive year. The company also won the Atlanta Business Chronicle Pacesetter Awards as one of the city’s fastest-growing private companies.
The Inc. 5000 list provides a data-driven look at independent businesses with sustained success nationwide, while the Business Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing privately held companies, Peachtree said in a statement.
“We are in the business of identifying and capitalizing on mispriced risk, and in today’s environment of disruption and dislocation, that has created strong tailwinds for our growth,” said Greg Friedman, managing principal and CEO. “These recognitions validate our ability to execute in complex markets, and we see significant opportunity ahead as we continue to scale our platform.”
The Atlanta-based investment firm, led by Friedman; Jatin Desai, managing principal and CFO and Mitul Patel, principal, oversees a diversified portfolio of more than $8 billion.
A PETITION FOR a referendum on Los Angeles’s proposed “Olympic Wage” ordinance, requiring a $30 minimum wage for hospitality workers by the 2028 Olympic Games, lacked sufficient signatures, according to the Los Angeles County Registrar. The ordinance will take effect, raising hotel worker wages from the current $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
Mandatory health care benefits payments will also begin in 2026.
The L.A. Alliance for Tourism, Jobs and Progress sought a referendum to repeal the ordinance, approved by the city council four months ago. The petition needed about 93,000 signatures but fell short by about 9,000, according to Interim City Clerk Petty Santos.
The council approved the minimum wage increase for tourism workers in May 2023, despite opposition from business leaders citing a decline in international travel. The ordinance requires hotels with more than 60 rooms and businesses at Los Angeles International Airport to pay workers $30 an hour by 2028. It passed on a 12 to 3 vote, with Councilmembers John Lee, Traci Park and Monica Rodriguez opposed.
The L.A. Alliance submitted more than 140,000 signatures in June opposing the tourism wage ordinance, triggering a June 2026 repeal vote supported by airlines, hotels and concession businesses.
AAHOA called the ruling a setback for Los Angeles hotel owners, who will bear the costs of the mandate.
"This ruling is a major setback for Los Angeles' small business hotel owners, who will shoulder the burden of this mandate," said Kamalesh “KP” Patel, AAHOA chairman. "Instead of working with industry leaders, the city moved forward with a policy that ignores economic realities and jeopardizes the jobs and businesses that keep this city's hospitality sector operating and supporting economic growth. Family-owned hotels now face choices—cutting staff, halting hiring, or raising rates—just as Los Angeles prepares to host millions of visitors for the World Cup and 2028 Olympics. You can't build a city by breaking the backs of the small businesses that make it run."
Laura Lee Blake, AAHOA president and CEO, said members are proud to create jobs in their communities, but the ordinance imposes costs that will affect the entire city.
“Even with a delayed rollout, the mandate represents a 70 percent wage increase above California's 2025 minimum wage,” she said. “This approach could remove more than $114 million each year from hotels, funds that could instead be invested in keeping workers employed and ensuring Los Angeles remains a competitive destination. The mandate increases the risk of closures, layoffs and a weaker Los Angeles."
A recent report from the American Hotel & Lodging Association found Los Angeles is still dealing with the effects of the pandemic and recent wildfires. International visitation remains below 2019 levels, more than in any other major U.S. city.
India-based TBO will acquire U.S. wholesaler Classic Vacations for up to $125 million.
The deal combines TBO’s distribution platform with Classic’s advisor network.
Classic will remain independent while integrating TBO’s global inventory and digital tools.
TRAVEL BOUTIQUE ONLINE, an Indian travel distribution platform, will acquire U.S. travel wholesaler Classic Vacations LLC from Phoenix-based The Najafi Cos., entering the North American market. The deal is valued at up to $125 million.
Gurugram-based TBO is led by co-founders and joint MDs Gaurav Bhatnagar and Ankush Nijhawan.
“We’re thrilled to bring Classic Vacations into the TBO family – the company’s longstanding delivery of services has earned the trust of more than 10,000 travel advisors in the U.S. and their end customers, making Classic Vacations a seamless fit for our vision in the travel and tourism industry,” said Bhatnagar. “Classic Vacations is led by a strong team and will continue as an independent brand while leveraging TBO’s technology and distribution capabilities to grow its business.”
Classic Vacations reported revenues of $111 million and an operating EBITDA of $11.2 million for the financial year ending Dec. 31, 2024, the companies said in a joint statement. The company has a network of more than 10,000 travel advisors and suppliers.
The acquisition combines TBO’s distribution platform with Classic’s advisor network to strengthen their position in the outbound market, the statement said. Classic will continue as an independent brand while integrating TBO’s global inventory and digital tools.
Nijhawan said the acquisition furthers TBO’s investment in organic and inorganic growth.
“As we begin integrating Classic Vacations with TBO, we will remain open to similar strategic alliances going forward,” he said.
Classic Vacations was acquired from Expedia Group by The Najafi Cos. in 2021.
“This acquisition and partnership are a natural next step for our portfolio company Classic Vacations, and we’re happy to have worked successfully with them for the last four years, maximising the company’s strengths and expertise in luxury travel,” said Jahm Najafi, founder and CEO, The Najafi Companies.
Moelis & Co. LLC was the financial adviser and Ballard Spahr LLP the legal adviser to Classic Vacations. Cooley LLP served as legal adviser and PwC as financial and tax adviser to TBO.