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 assistant 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.
BEST WESTERN HOTELS & Resort executives say the company is riding a wave of success that brought its membersto 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.”
Cuculic said revenue associated with Best Western Rewards members in North America has increased 10 percent fiscal year to date. Overall, the rewards program has grown to more than 54 million members worldwide, and revenue contribution from the program is up 2 percentage points from where it was last year.
From left, Mark Straszynski, Best Western’s president and chief financial officer; Brad LeBlanc, senior vice president and chief development officer; and Cuculic discuss how the state of the economy may impact the company’s performance.
From August 2022 through July 2023, the company’s lowest cost booking channel generated $1.64 billion in global revenue, Cuculic said, which is up 12.4 percent compared to the previous 12-month period and sets a new record. With 30 consecutive months of year-over-year growth, Best Western’s mobile app surpassed $166 million in global revenue, a 44 percent increase for the same time period, also a new record
Best Western has grown to 4,300 hotels in over 100 countries and territories around the world, Cuculic said. During one panel session, Cuculic asked Mark Straszynski, Best Western’s president and chief financial officer if the economy at large could affect the company’s wave of growth.
“No doubt the economy can affect our big wave. A wave is a series of challenges and opportunities, right?” Straszynski said. “We want to ride that wave not wipe out. So well run businesses take risks, calculated risks, and they need to understand the economy.”
However, he said there are good signs on Wall Street that the economy is doing well. This indicates consumer confidence in travel remains high.
“Institutional investors, banks, institutional investors are deploying lots of money. There's a lot of money on the sidelines,” Straszynski said. “They're investing in real estate or investing in hotels, shoring up valuations, which is a good thing for us.”
Sticking to the budget
Cuculic said the company is also in good shape to face any difficulties that do arise because they listened to previous forecasts and prepared. Those forecasts, such as the most recent from STR and Tourism Economics released in June, have been improving.
“We developed a budget that anticipated what the prognosticators told us could occur, and some were saying hard recession in late spring, early summer,” Cuculic said. “So we were prepared in case that were to occur. Fortunately, that hasn't occurred, but we stayed on budget nonetheless and rode the momentum associated with a great spring and a great summer.”
He said Best Western was “able to take advantage of what didn't occur” and profited from the continuous pace of travel generated by pent up demand from 2022. That ongoing surge in demand continues on a global scale, from North America into Europe, Cuculic said.
“We stayed on budget nonetheless, and so doing that enables that economic growth, that puts us in really the best financial positions companies ever been in,” Cuculic said.
The company has plans to continue making the best of the economic conditions while they last. There’s also a new face to tell Best Western’s story.
New face, new strategy
In July, Park joined the company to direct its marketing strategy, which this year will include $120 Million in advertising and promotions. Previously, she served as vice president, global enterprise and cross brand marketing at Hilton, graduated from the University of Virginia and was named one of the Top 25 Extraordinary Minds by the Hospitality Sales and Marketing Association International.
Cuculic holds a panel discussion with Joelle Park, Best Western’s newly hired senior vice president and chief marketing officer.
At a press conference during the convention, Park laid out her strategy.
“I think the first thing is recognizing the strength of the brand already, meaning the value of loyalty that's built in,” Park said. "We're going to start with the customer, we're going to let the customer guide us. I really believe our responsibility as good stewards of marketing is to bring the customer voice to the organization and that will shape the strategy.”
Expansion into India
During the same press conference, Ron Pohl, president of WorldHotels and international operations for Best Western, talked about the importance of the company’s presence in India.
“India is the biggest democracy in the world with a huge population and limited number of properties,” Pohl said. “We see that as a significant opportunity, especially as we look at not only the luxury hotels that exist there, but especially in the mid-scale, the upper mid-scale segment, as that economy continues to grow, and the middle class continues to expand. Obviously, our membership is 65 percent, Indian ownership as well, so it's a great interest to them to see us grow in their in their native country.”
The challenge, Pohl said, is finding financing for projects. There is money there, he said, to build in the right areas. Some of that investment also comes from Indo American hoteliers in the U.S., he said.
Ron Pohl, president of WorldHotels and international operations for Best Western, talked about the importance of the company’s presence in India.
“There's interest there. I think what we need to do is a better job of sharing the story and the opportunity back here with them,” Pohl said. “They have said to us on numerous occasions, I would love to create some opportunities funding to do more development in India. So it's complicated, but it's certainly something to consider.”
During Wyndham Hotels & Resorts’ conference in Anaheim, California, the previous week, Dimitri Manikis, president for the Europe, Middle East Eurasia and Africa, said he has seen rising investment in the Indian market by U.S. based Indian American hoteliers.
“If you look at Wyndham’s franchisees here in North America, there are a lot of Indian origin from either India or Pakistan, the whole Indian peninsula,” Manikis said. “Every conference that I’ve been last year, that we’re in this year, year to date, there have been people from the U.S. looking at the Asian market for a number of reasons.”
A team effort
Finally, Park and Brad LeBlanc, senior vice president and chief development officer, discussed Best Western’s efforts to promote female hotel ownership.
“We identified early on that there is a there was a passion around women that women want to be in hospitality but not in a second position,” LeBlanc said. “They want to be in a primary position to build a primary decision to buy. And what we did is we sat down we said let's create a Best Western style appropriate right program that not only provides capital provides significant and ongoing support as far as fees are concerned, but how do we team around them and make sure that they don't misstep anywhere in the process.”
Leblanc said they have appointed an internal team to fill the need.
“They will walk an applicant, whoever she may be, through that process, and whether it be an acquisition or whether it be in development, we make sure that we're holding their hand the entire way,” LeBlanc said. “If they need financing, we find that for them, if they need contractor, we bring them the contractor, on and on.”
A local Hawaiin drum master entertains the crowd at Best Western’s convention.
Park said she was impressed by the diversity forum held as the convention began.
“It was so inspiring, because even on stage, we had female developers and general mentors who talked about what it's like to be a woman in leadership in this industry,” Park said. “I think a couple of the key themes that came out of that. One was dismissing this idea that there's only one charity to fight for. What we heard in that room was women helping other women.”
The goal is to see more women in positions of leadership, Park said.
“One of the other things that was talked about that I'm really excited about is the unique aspects that women can bring to any industry, but especially in leadership in hospitality,” Park said. “We talked about how women are actually have a natural inclination towards inclusion, and empathy, and what better industry to bring that to, especially in leadership roles, where we're leading teams at hotels or developing new hotels.”
The Trump administration says it is reviewing more than 55 million visa holders.
Reviews cover a wide range of visas for law enforcement and overstay violations.
The administration also suspended worker visas for foreign commercial truck drivers.
THE TRUMP ADMINISTRATION is reviewing more than 55 million people who hold valid U.S. visas for potential violations. It is expanding a policy of “continuous vetting” that could result in revocation and deportation.
The State Department confirmed all visa holders are subject to ongoing review, which includes checking for overstays, criminal activity, threats to public safety or ties to terrorism. Should violations be found, visas may be revoked, and holders in the U.S. could face deportation, according to the Associated Press.
Officials said the reviews will include monitoring of visa holders’ social media accounts, law enforcement records and immigration files. New rules also require applicants to disable privacy settings on phones and apps during interviews. The department noted visa revocations since President Trump’s return to office have more than doubled compared to the previous year, including nearly four times as many student visas.
The administration also announced an immediate halt on issuing worker visas for foreign commercial truck drivers, with Secretary of State Marco Rubio citing road safety and competition concerns for U.S. truckers.
“The increasing number of foreign drivers operating large tractor-trailer trucks on U.S. roads is endangering American lives and undercutting the livelihoods of American truckers,” Rubio posted on X.
The Transportation Department linked the move to recent enforcement of English-language proficiency requirements for truckers, aimed at improving safety. The State Department later said it was pausing visa processing while it reviewed screening protocols.
Critics, including Edward Alden of the Council on Foreign Relations, warned the actions could have significant economic consequences.
“The goal here is not to target specific classes of workers, but to send the message to American employers that they are at risk if they are employing foreign workers,” Alden wrote, according to AP.
Data from the Department of Homeland Security shows there are 12.8 million green card holders and 3.6 million temporary visa holders in the United States. The 55 million figure under review includes many outside the U.S. with valid multiple-entry tourist visas.
Earlier this week, the State Department reported revoking more than 6,000 student visas for violations since Trump returned to office, including around 200 to 300 for terrorism-related issues.
The vast majority of foreign visitors require visas to enter the U.S., with exceptions granted to citizens of 40 countries under the Visa Waiver Program, primarily in Europe and Asia. Citizens of China, India, Russia and most of Africa remain subject to visa requirements.
A $250 Visa Integrity Fee in President Donald Trump’s Big Beautiful Bill drew criticism from groups that rely on seasonal workers from Latin America and Asia on J-1 and other visas.
By clicking the 'Subscribe’, you agree to receive our newsletter, marketing communications and industry
partners/sponsors sharing promotional product information via email and print communication from Asian Media
Group USA Inc. and subsidiaries. You have the right to withdraw your consent at any time by clicking the
unsubscribe link in our emails. We will use your email address to personalize our communications and send you
relevant offers. Your data will be stored up to 30 days after unsubscribing.
Contact us at data@amg.biz to see how we manage and store your data.
Peachtree Group originated a $176.5 million retroactive CPACE loan for a Las Vegas property.
The deal closed in under 60 days and ranks among the largest CPACE financings in the U.S.
The company promotes retroactive CPACE funding for commercial real estate development.
PEACHTREE GROUP ORIGINATED a $176.5 million retroactive Commercial Property Assessed Clean Energy loan for Dreamscape Cos.’s Rio Hotel & Casino in Las Vegas. The deal, completed in under 60 days, is its largest credit transaction and one of the largest CPACE financings in the U.S.
The 2,520-room Rio, now under the Destinations by Hyatt brand, was renovated in 2024 and comprises two hotel towers connected by a casino, restaurants and retail, Peachtree said in a statement.
“This transaction is a milestone for Peachtree Group and a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, Peachtree's managing principal and CEO. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in private credit. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
Atlanta-based Peachtree is led by Friedman; Jatin Desai as managing principal and CFO and Mitul Patel as principal.
The CPACE loan retroactively funded the renovations, allowing the owners to pay down their senior loan, the statement said. The property improvement plan included exterior work, upgrades to the central heating and cooling plant, electrical infrastructure improvements and convention center renovations.
Jared Schlosser, Peachtree’s head of originations and CPACE, said the deal marks an inflection point, with major financial institutions consenting to its use for the benefit of the capital stack.
“By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders,” he said.
The CPACE market has surpassed $10 billion in U.S. originations in just over a decade, according to the C-PACE Alliance, with growth expected as more institutional owners and lenders adopt it.
“We see significant opportunity for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It is an alternative to more expensive forms of capital.”
In June, Peachtree named Schlosser head of originations for all real estate and hotel lending and leader of its CPACE program. Peachtree recently launched a $250 million fund to invest in hotel and commercial real estate assets mispriced by capital market illiquidity.
Global pipeline hit a record 15,871 projects with 2.4 million rooms in Q2.
The U.S. leads with 6,280 projects; Dallas tops cities with 199.
Nearly 2,900 hotels are expected to open worldwide by the end of 2025.
THE GLOBAL HOTEL pipeline reached 15,871 projects, up 3 percent year-over-year, and 2,436,225 rooms, up 2 percent, according to Lodging Econometrics. Most were upper midscale and upscale, LE reported.
The U.S. leads with 6,280 projects and 737,036 rooms, 40 percent of the global total. Dallas leads cities with 199 projects and 24,497 rooms, the highest on record.
LE’s Q2 2025 Hotel Construction Pipeline Trend Report showed 6,257 projects with 1,086,245 rooms under construction worldwide, unchanged in project count and down 3 percent in rooms from last year. Projects scheduled to start in the next 12 months totaled 3,870 with 551,188 rooms, down 3 percent in projects but up 1 percent in rooms. Early planning reached 5,744 projects and 798,792 rooms, up 10 percent in projects and 9 percent in rooms year-over-year.
Upper midscale and upscale hotels accounted for 52 percent of the global pipeline, LE said. Upper midscale stood at 4,463 projects and 567,396 rooms, while upscale reached 3,852 projects and 655,674 rooms. Upper upscale totaled 1,807 projects and 385,396 rooms, and luxury totaled 1,267 projects and 245,665 rooms, up 11 percent year-over-year.
In the first half of 2025, 970 hotels with 138,168 rooms opened worldwide. Another 1,884 hotels with 280,079 rooms are scheduled to open before year-end, for a 2025 total of 2,854 hotels and 418,247 rooms. LE projects 2,531 hotels with 382,942 rooms to open in 2026 and 2,554 hotels with 382,282 rooms to open globally in 2027, the first time a forecast has been issued for that year.
HAMA is accepting submissions for its 20th annual student case competition.
The cases reflect a scenario HAMA members faced as owner representatives.
Teams must submit a financial analysis, solution and executive summary.
THE HOSPITALITY ASSET Managers Association is accepting submissions for the 20th Annual HAMA Student Case Competition, in which more than 60 students analyze a management company change scenario and provide recommendations. HAMA, HotStats and Lodging Analytics Research & Consulting are providing the case, based on a scenario HAMA members faced as owner representatives.
Student teams must prepare a financial analysis, a recommended solution and an executive summary for board review, HAMA said in a statement.
“Each year, the education committee looks forward to the solutions that the next generation of hotel asset managers bring, applying their own experiences to issues in ways that reveal new directions,” said Adam Tegge, HAMA Education Committee chair. “This competition demonstrates that the future of hotel asset management is in good hands.”
The two winning teams will each receive a $5,000 prize and an invitation to the spring 2026 HAMA conference in Washington, D.C. HAMA will cover travel and lodging.
Twenty industry executives on the HAMA education committee will evaluate submissions based on presentation quality, the statement said. HAMA mentors volunteer from September through November to assist teams seeking feedback and additional information. Schools will select finalists by Jan. 15, with graduate and undergraduate teams reviewed separately.
The competition has addressed topics in operating and owning hospitality assets and HAMA consulted university professors to update the format for situations students may encounter after graduation, the statement said.
This year’s participants include University of Denver, University of Texas Rio Grande Valley, Boston University, Florida International University, Michigan State University, Columbia University, Morgan State University, Howard University, New York University and Penn State University.
Stonebridge Cos. added the Statler Dallas, Curio Collection by Hilton, to its managed portfolio.
The hotel, opened in 1956 and relaunched in 2017, is owned by Centurion American Development Group.
The property is near Main Street Garden Park, the Arts District and the Dallas World Aquarium.
STONEBRIDGE COS. HAS contracted to manage the Statler Dallas, Curio Collection by Hilton in Dallas to its managed portfolio. The hotel, opened in 1956 and relaunched in 2017, is owned by Centurion American Development Group, led by Mehrdad Moayedi.
It has an outdoor pool and more than 26,000 square feet of meeting space, Stonebridge said in a statement. The downtown Dallas property is near Main Street Garden Park, the Arts District, the Kay Bailey Hutchison Convention Center, Deep Ellum, Klyde Warren Park, and the Dallas World Aquarium.
“The Statler is an extraordinary asset with a storied history in Dallas, and we are thrilled to welcome it to our managed portfolio,” said Rob Smith, Stonebridge’s president and CEO. “Its blend of modern hospitality with timeless character makes it a natural fit within our lifestyle collection. We look forward to honoring the property’s legacy while enhancing performance and delivering an elevated guest experience.”
Stonebridge, based in Denver, is a privately held hotel management company founded by Chairman Navin Dimond and led by Smith. The company recently added the 244-room Marriott Saddle Brook in Saddle Brook, New Jersey, to its full-service portfolio.