Industry leaders talk about headwinds facing the economy
The theme of this year's Hunter Hotel Investment Conference was “Elevate your game,” said Lee Hunter, conference chairman and COO of sponsor Hunter Hotel Advisors, in his opening comments Tuesday at the Marriott Marquis Hotel in downtown Atlanta.
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.
THE HUNTER HOTEL Investment Conference opened its 2025 meeting this week with news that it will move to a new location next year. Also, speakers at the conference gave their views on the current turbulence buffeting the U.S. economy.
The theme of this year's conference was “Elevate your game,” said Lee Hunter, conference chairman and COO of sponsor Hunter Hotel Advisors, in his opening comments Tuesday at the Marriott Marquis Hotel in downtown Atlanta. More that 2,200 people attended the conference.
“As leaders, we know in order to be successful, you have to rise above ordinary,” Hunter said. “Over the next few days, we're going to learn talk about pushing boundaries, eliminating and overcoming obstacles, and learning how to elevate not just our businesses and our teams, but our relationships and ourselves as well.”
Moving on
Opened in 2024, the Signia by Hilton Atlanta near Mercedes Benz Stadium, Georgia World Congress Center and State Farm Arena, will begin hosting the Hunter Hotel Conference next year.
The Marquis had hosted the conference for the past 17 of its 36 years, HHA said in a statement. Beginning next year, however, the Signia by Hilton Atlanta near Mercedes Benz Stadium will be its new home.
“We are deeply grateful to the Atlanta Marriott Marquis, which has been an exceptional host and partner, offering a welcoming and dynamic setting for our event for nearly 20 years,” Hunter said. “Looking ahead, our move to the Signia by Hilton Atlanta allows us to grow alongside our attendees while preserving the unique, close-knit atmosphere that makes our event so special.”
Opened in 2024, the Signia also is near the Georgia World Congress Center and State Farm Arena. The $5 billion mixed-use project known as Centennial Yards in the former Gulch area is being developed nearby.
"We are delighted to welcome the Hunter Hotel Investment Conference to the beautiful Signia by Hilton Atlanta beginning next year," said Danny Hughes, president, Americas, Hilton. "As an economic catalyst and a beacon of unparalleled hospitality in the heart of downtown Atlanta, Signia is the ideal venue for HUNTER. We are honored to be the new home for this important conference that is at the center of our industry’s growth and development each year.”
Turbulent times ahead for the economy
Speaking on a panel at the Hunter Hotel Conference are, from left, Vision Hospitality President and CEO Mitch Patel; Greg Friedman, managing principal and CEO of Peachtree Group; and Robert Webster, vice chairman at CBRE.
During the Market Overview: Financial Analysis and Forecast panel discussion at the beginning of the conference, led by Vision Hospitality President and CEO Mitch Patel, panel members discussed the nation’s current economic forecast. The impact of recent events, such as the Trump administration’s on again-off again tariffs on Canada and Mexico as well as cuts to the federal government workforce, factored into the conversation.
Teague Hunter, HHA president and CEO and brother of Lee Hunter, acknowledged that the industry is facing some headwinds.
“I think we've got some chopping times ahead, for obvious reasons,” Teague Hunter said. “There's been tons of government spend and that's about to evaporate, and that's going to have impact and pain everywhere. Part of the reason I think is that the top is so much and printed a ton of money, that money fell into the hands of capital owners, and it didn't quite triple that, so now you're going to evaporate that. There's clearly going to be some pain going ahead. Hopefully it's all for the good. Hopefully it's a long-term benefit.”
At the moment, in terms of rates, things are not good, he said.
“In the economy and the mid-market level, we have been in a recession for two years now. So that's happened. Values are off 20 percent, maybe even more. In some cases, it's still market to market. But values are off. It's just when rates go from 4 percent to 9 percent there's a problem.”
Greg Friedman, managing principal and CEO of Peachtree Group, discussed the possibility of a recession as well.
“I think it's sort of an interesting environment. You look at the new administration, I think that's probably the toughest part, is all the new policies, what the new administration is trying to accomplish with tariffs,” said Greg Friedman. “There are factors that could potentially drive us into an economic recession, which isn't necessarily a bad thing, because it could help bring rates down, but some of that challenge is the volatility is going to make 2025 really tough to operate in this type of environment.”
Friedman said he expects to see “some business pull back” for hotels and that the environment will remain challenging for a while.
“On the flip side, at some point, I think you're going to see the transaction market opened up for us to be able to go buy assets,” Friedman said. “That's what gets us excited, given the fact that everyone's dealing with this higher interest rates that need to renovate assets, and I think that's going to create a buying opportunity for us.”
Global hotel rates are expected to remain stable through 2026, according to AMEX GBT.
New York is a key business travel and meetings destination.
India is likely to be a focus for travel programs during 2026 negotiations.
GLOBAL HOTEL RATES are expected to remain stable through 2026, as geopolitical tensions and potential U.S. tariffs limit demand and constrain price increases, according to American Express Global Business Travel. New York remains a popular destination for business travel and meetings.
AMEX GBT’s Hotel Monitor 2026, an annual forecast of global hotel rates in business travel destinations, identified India as a key market, with hotel rates and occupancy set to rise.
“This year’s forecast reveals a global environment where geopolitical uncertainties are tempering hotel rate increases,” said Dan Beauchamp, Amex GBT’s vice president for consulting. “These insights allow businesses to make more informed travel decisions. Understanding local market conditions will help companies optimize travel budgets and strategies.”
The report also projects continued rate increases for high-end accommodation based on demand.
New York hotel rates are projected to rise 4 percent in 2026. Despite expected softening in inbound U.S. travel from tariff uncertainty, New York remains a leading destination for business travel and meetings. The forecast is based on company data and IMF inflation and GDP projections.
India is expected to see rising hotel rates and occupancy in 2026. Rate growth will be below last year’s levels but above regional and global averages. India is likely to be a focus for many travel programs during 2026 negotiations. Bengaluru, a major technology and AI hub, recorded the country’s highest occupancy and ADR in the first quarter of 2025.
Simon Fishman, Amex GBT’s vice president for global hotels, said data shows news cycles can affect hotel prices in unpredictable ways.
“Amex GBT’s hotel marketplace gives companies access to over two million properties across 180 countries, including more than 45,000 hotels with pre-negotiated discounts and amenities via the Preferred Extras Hotel Program,” he said. “It enables companies of all sizes to adapt to changing business needs while accessing the best rates and traveler experiences.”
A May report by commerce media firm Criteo found that hotel booking values in Asia-Pacific rose 23 percent in early 2025, compared with 2 percent growth in the Americas.
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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.
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.