New chairman begins his term as speakers give views on the state of the industry
Kamalesh “KP” Patel became AAHOA's 35th chairman for the 2025–26 term, while Vimal “Ricky” Patel was named secretary at the 2025 AAHOA Convention & Trade Show in New Orleans.
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.
KP Patel Assumes AAHOA Chairmanship at AAHOACON 2025
KAMALESH “KP” PATEL officially assumed the role of AAHOA's 35th chairman and Vimal “Ricky” Patel was elected secretary at the 2025 AAHOA Convention & Trade Show in New Orleans. Other highlights of AAHOACON included panel discussions with industry leaders who discussed the state of the industry.
More than 6,000 AAHOA members, their families and vendors attended the event at the New Orleans Ernest N. Morial Convention Center April 15 to 17 under the theme "New Ideas, New Opportunities, New Orleans." More than 500 vendors had booths in the tradeshow and keystone speakers included Gurudev Sri Sri Ravi Shankar, stand-up comedian and author Zarna Garg and "Hollywood's Brandfather" Rohan Oza.
AAHOA President and CEO Laura Lee Blake said a tide of optimism and determination was sweeping across the association. This optimism comes from having survived trials, from COVID and natural disasters to major political shifts.
“If you take nothing else from this conference, let me say this with confidence, the state of AAHOA is stronger than ever,” Blake said. “We have turned adversity into opportunity. Brands are returning. The industry dialog is stronger than ever. This is our moment. This is our time to embrace the American dream.”
In with the new
New Chairman KP Patel served as AAHOA's North Pacific regional director and was a premier ambassador for several years, the association said in a statement. He was elected secretary in 2022, beginning a leadership path that has now led to his chairmanship.
"It's an incredible honor to serve as chairman of AAHOA," KP Patel said. "This association has been the backbone of support for hotel owners like myself. As we navigate an ever-changing industry, I'm committed to strengthening our foundation, empowering membership, and ensuring AAHOA continues to be the voice, the resource, and the community that hotel owners rely on."
Patel’s platform centers on the theme “Strengthening AAHOA Through Member Empowerment.” He stressed ensuring AAHOA members’ profits, stronger advocacy on issues important to the association, increasing unity and more dialogue with brands and policymakers. During the conference, KP said he was passionate about AAHOA’s charitable foundation and scholarships.
He said there is a continuum of leadership for AAHOA that he must uphold.
“This is why we do what we do, not just for today, but for tomorrow, as we prepare for a transition of leadership later today, I want to emphasize something important: AAHOA’s strength is in its continuity,” he said. “Every chair who has come before me has built on the foundation laid before them. They have led with vision, dedication and commitment, and I am honored to carry that momentum forward. But leadership isn't about just one person, it's about all of us. It's about ensuring that our voices continue to be heard, that our industry remains strong, and that AAHOA positions for long term success.”
Kamalesh described AAHOA not just as an association, but as a family.
"This community shaped my career, and now it's my turn to serve,” he said. “If AAHOA isn't delivering value, creating opportunities, and strengthening this industry, then we're not doing our job. I want every member to know their voice matters and that this association belongs to them.”
"On behalf of AAHOA, we congratulate KP on his new role as chairman," Blake said. "He brings a deep commitment to our mission and a clear vision for the future. We are excited to work together to advance AAHOA's advocacy, expand our impact, and continue building an association that reflects the strength and spirit of America’s hotel owners."
The first step of the journey
AAHOA’s newly selected secretary Ricky Patel has owned both branded and independent hotels since immigrating to the U.S. at age 21. He has served in multiple AAHOA leadership roles, including as ambassador, Gulf regional director, and on committees covering government affairs, strategic planning, education and professional development, and bylaws and governance.
“I want hotel owners to win the economic future, so we must be prepared not only for the change we know is coming but also for the change we don’t see coming,” Vicky said. “My style as an officer will be to work energetically on today’s issues while proactively anticipating tomorrow’s problems.”
He also chaired two ad hoc committees on insurance—where he led a search for affordable property premium options—and on revenue generation, where he helped raise $1.8 million in new funds for AAHOA.
Outside of AAHOA, Patel has worked on behalf of hotel owners in volunteer executive roles, including as a board member of the Louisiana Economic Development Corporation and as board chairman for Lafayette Travel.
Updates from the experts
AAHOACON2025 included several panel discussions featuring hospitality industry veterans and experts. The topics ranged from changes in the industry faced by the latest generation of Asian American hoteliers to concerns about the uncertain economy.
During one general session panel, Al Patel, president of Columbia, Maryland-based Baywood Hotels, discussed the different approaches each generation of Asian American hoteliers takes to the business.
“I think the risks that they took, first, leaving their homeland, coming to a place where they had no friends, no family, no structure, leaving that comfort to come to this country, didn't speak the language, didn't know the culture, and took these enormous risks part of this motel business and worked extremely hard,” Al Patel said. “That's just what I remember from my parents, is they worked extremely hard. And I think as that transition to us, we saw that hard work. We also worked hard in the beginning, but we also at some point, learned that after we work hard, we've got to work smart also. And so, you know, that was kind of the progression that worked hard, and now we're getting smart, and then we'll see how the next, the third generation, works.”
On the same panel, Mit Shah, CEO of Atlanta-based Noble Investment Group, said the business is third generation is going to have is going to be very different.
“Let's just state here for a moment that building hotels is really hard. For obvious reasons, costs, availability of land costs, financing and making those numbers work. Labor costs themselves, and the brands who actually get paid on growth, are looking at all of this and understanding that they have got to find other pockets,” Shah said. “Is it surprising that Marriott is in the serviced apartment business? That they're in the cruise business? That Hilton is in the glamping business?”
During the View from the Top panel on the last day of the conference, Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts, gave his view on the economy.
“Talking to all of you, over the last three days, there's never been more uncertainty in terms of development, but there also does not seem to be a lot of concern out there that the resiliency of select service has never been more tested, never been more proven than it was throughout COVID,” Ballotti said. “I think there is tremendous optimism still out there. We're all feeling it on the trade show floor.”
When the panel’s emcee, former AAHOA Chairwoman Jagruti Panwala, asked what would be the top ask the panelists would have if they met President Donald Trump, Ritesh Agarwal, OYO founder and CEO described the time he met Trump.
“Four years ago, I had the opportunity to see President Trump in New Delhi when he was visiting and I gave him a quick background about what we were doing in Asia and in the US, and he said two things,” Agarwal said. “The first thing he said is, ‘I'm a huge believer in the economy and the mid-scale sector of the industry. And second is, I know a thing or two about hotels to test their activities. If I were to say something to the administration, I'd say I'm an optimist. I'm an entrepreneur. In a room full of entrepreneurs, we all are seeking opportunities.”
Agarwal, who also spoke at AAHOA’s second annual “HYPE – Helping Young Professionals Evolve” conference in February, also said the hotel industry can provide a short-term solution to the nation’s housing problems. He also would like to see the return of the Opportunity Zone concept created during the first Trump administration.
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.
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.