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.
MIRAJ PATEL, PRESIDENT of Wayside Investment Group in Houston, was planning for success when he bought a Galveston, Texas, Travelodge by Wyndham to convert into a Red Roof PLUS+. His partners and he timed the opening of the new beachside hotel just right, they thought.
“Right now, this is the season where you make money because it’s spring break time,” Patel said. “We bought this property in November and we quickly put in more than $1.1 million into renovations. We strategically opened it within four months just so we could open during this month. But for this one property we’re walking straight into a negative slope.”
The COVID-19 pandemic’s crushing blow to the travel industry is the cause.
“We opened on Thursday and Saturday and Sunday were great, then Monday it just suddenly dropped,” he said.
Hoteliers around the country have similar stories.
Galveston turned ghost town
Over the past year and a half, Patel’s company has opened three hotels, including most recently the 66-room Red Roof PLUS+, opened on March 12. The timing, it turned out, was not good.
“We were supposed to hit our projections and now we’re seeing nearly 25 percent to 30 percent occupancy drop,” Patel said. “We are also seeing a lot of cancellations.”
They have been asking guests who cancel their reason for doing so, Patel said.
“We were seeing if coronavirus was the main reason, and it is,” he said. “Everybody said it’s because of the coronavirus, we’re simply not traveling.”
Galveston island is completely empty and local authorities have issued orders for restaurants and bars to shut down, Patel said, and the Houston Chronicle said the county plans to issue a shelter-in-place order. Typically rates at this time are more than $300 a night, Patel said, but now they are setting rates around $40 a night.
“Now there’s no reason for people to travel because there’s nothing for them to do anymore,” Patel said. “These are our flagship hotels, but we also have our independent properties where most of the clientele is local. But even there we’ve seen a huge slope. People are simply just not leaving their homes.”
His fellow hoteliers on the island are being hit as hard as Patel, if not harder.
“People simply are not going to hit their projections,” he said. “At one hotel [in Galveston] one general manager told me that he’s seen, just in the month of March, for his one hotel he’s seen a $150,000 reduction on his projections.”
That owner is laying off 12 people and many of the other hotels on the island are laying off workers.
“We’re all trying to share resumes to see if we can try to save these people’s jobs by maybe hiring them at one of our hotels,” Patel said. “We’re just trying to work together to see if we can avoid laying these people off and if we do have to lay them off because we can’t afford it maybe find them a job where another hotel might need them.”
The crisis has tempered the usually competitive market, he said.
“At this point we’re just trying to help each other, trying to make sure we can pay the bills,” he said.
On a brighter note, Patel said he has not suffered from a lack of supplies as some hotels have seen.
“Two weeks ago, we actually bought extra. We had a feeling that this was going to get bad, so we were proactive,” he said.
Online shopping has helped, he said.
“We’re calling our vendor partners and they say it’s going to take this much time, that much time,” Patel said. “We’re just going on Amazon.com and right now that’s been our best friend.”
Patel also is AAHOA’s young professional director for the western division, and he said they have held weekly conference calls on helping members avoid paying unnecessary fees.
“We’re also trying to push the government to help us with relief packages,” he said.
Over the weekend, Cecil Staton, AAHOA’s president and CEO, issued a statement asking members of Congress to overcome their political differences to pass the Coronavirus Aid, Relief, & Economic Security Act, which has stalled in the House. Patel said that stimulus is needed now.
“[The COVID-19 pandemic] happening so quick and that’s what’s scaring a lot of the hoteliers, even myself,” Patel said. “It’s getting worse and worse day by day. We just don’t know what the future is going to look like.”
California calamity
California-based hotelier Sunil “Sunny” Tolani, founder of the non-profit Prince Organization charity, said the pandemic was definitely affecting all of his hotels.
“Occupancy is decreasing at all hotels rapidly at this time. We are seeing cancellations through September or later at the hotel level from our guests,” Tolani said. “Group travel through June is at 100 percent cancellations at this time.”
Tolani has not closed any hotels yet, primarily because his staff members need the hours to pay their bills.
“As hotel owners and general managers it is our responsibility to our associates and guests to give them the best we can, monitoring the issues and having a ‘plan of action’ in place to eliminate any fears during this stressful time in the world,” he said.
His general managers have had to use different vendors for supplies, he said.
“Toilet paper, Clorox cleaning products, Purell hand sanitizer and Lysol spray are not readily available from any vendor to us at this time, and if the vendor does have an item like toilet paper, we can only get one case at a time,” he said. “Hotels order weekly for normal operations and we order many cases of items to operate. This is very challenging at this time to even obtain one case of any item.”
Tolani said his hotel staff have even had to keep supplies under lock and key to avoid theft by guests.
And what are hoteliers doing to help each other get through the crisis?
“Firstly, praying, believing in the power of faith and miracles, coming together as family,” Tolani said. “This too shall pass.”
We want to hear from you. Share your story about how the COVID-19 epidemic is affecting your business in the comments below, on Facebook or Twitter or by emailing Asian Hospitality Editor Ed Brock at ed.brock@amgusa.biz.
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.
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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.
Spark acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey.
Hunter Hotel Advisors facilitated the transaction with DC Hospitality Group affiliates.
The 2020-built hotel is near William Paterson University and less than 20 miles from Manhattan.
SPARK GHC RECENTLY acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey, from affiliates of DC Hospitality Group. Hunter Hotel Advisors facilitated the deal for an undisclosed amount.
The 2020-built hotel is less than 20 miles from Manhattan in a commercial corridor with major employers including Driscoll Foods, FedEx Group, Advanced Biotech, St. Joseph’s Wayne Hospital, and the Passaic County Administration, Hunter said in a statement. William Paterson University, Willowbrook Mall, and MetLife Stadium are also nearby.
It features an on-site fitness center, business center and indoor pool.
“The Home2 Suites by Hilton Wayne represents the type of asset we target,” said Patel. “Its proximity to major corporate demand generators, higher education institutions, and retail and entertainment venues supports strong performance.”
Hunter’s senior vice presidents, David Perrin and Spencer Davidson, brokered the transaction.
Patel said this is their second transaction with Hunter and praised the process and partnership.
“We look forward to building on the hotel’s recent performance and continuing to deliver guest experiences in the Greater New York City community,” he said.
Northstar Hotels Management recently acquired a 78-key Residence Inn and an 81-key Courtyard near the Jacksonville, Florida, airport.
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.