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.
MARRIOTT INTERNATIONAL IS withdrawing its support for AAHOA in opposition to the association’s 12 Points of Fair Franchising, according to an alert to AAHOA members. Indications of the split began in July, when a letter to this effect was circulated but not confirmed, and AAHOA said its efforts to make the situation right in the meantime have failed.
The AAHOA member alert also said Marriott had expressed opposition to AAHOA’s support for legislation proposed last year in the New Jersey legislature that would strengthen protections for franchise businesses in the state, including hotels. In its alert, attributed to Neal Patel, chairman of AAHOA, said most hotel franchisers did not take issue with the association’s support for the New Jersey legislation nor the 12 Points.
“Many of our other hotel brand partners have taken an open-minded and collaborative approach to fair franchising. We appreciate their willingness to work together to ensure better outcomes for AAHOA members, the industry, and hotel customers,” Patel said. “However, we wanted to inform you that Marriott International – one of our longtime brand partners – has decided to take a different position.”
Marriott expressed its concerns in a phone call with AAHOA officials in early December, Patel said.
“We emphasized that AAHOA and Marriott have more in common than in conflict, and both support many issues at the federal, state, and local level to propel the hotel industry forward,” Patel said in the alert. “Marriott nevertheless stated that it would no longer support AAHOA or attend AAHOACON23 in Los Angeles, April 11 to 14, if AAHOA continued to support the New Jersey fair franchising legislation.”
A Marriott spokesperson released the following statement.
“We remain committed to owners and franchisees in the Asian American community and believe our relationship with our owners and franchisees is best managed directly, rather than through a third-party organization with whom our objectives no longer align.”
The letter circulated in July gave more detail, though it was not confirmed as coming from Marriott.
“Ultimately, Marriott cannot support, either by endorsement and/or financially, any organization that is in direct opposition to our business model and interests,” said the letter. “We believe quite strongly that the longstanding relationship between Marriott and AAHOA has proven to be mutually beneficial, and we are deeply saddened that AAHOA has chosen to pivot its stance on these key issues in a way that is decidedly anti-franchising and anti-Marriott (especially since, as the AAHOA leadership shared with us in a recent meeting, neither AAHOA’s leaders nor its members have any material issues with Marriott’s approach to franchising or to our franchisees).”
Support for New Jersey legislation
In its negotiations with Marriott, AAHOA’s statement said it emphasized that it was not the author of New Jersey Assembly Bill A1958, which would make changes to the New Jersey Franchise Practices Act. However, it supports four points of the bill that provide:
AAHOA members, such as local hotelier and ambassador for the Mid-Atlantic region Rajesh Patel, at table, came before the New Jersey State Assembly on May 12 to support Assembly Bill 1958, which would make changes to the New Jersey Franchise Practices Act that could benefit hotel owners. Marriott listed AAHOA’s support for the legislation among its reasons for separating from the association.
If a franchiser or brand partner receives commissions or rebates from a vendor based on purchases by franchisees, that must be fully disclosed and turned over to the franchisees and the franchise system.
AAHOA will not object to vendor exclusivity so long as the vendor provides these mandated products and services to Franchisees for competitive pricing.
AAHOA will not support the selling of loyalty points by a brand partner or franchiser for a profit.
AAHOA will not support franchise fees being added that were not previously disclosed in the franchise disclosure document without prior approval.
AAHOA supports the preference of certified women-owned, minority-owned and veteran-owned businesses to serve as the mandated and preferred vendors for the franchise business model.
The legislation embodies the basic reasons why AAHOA has supported fair franchising since 1998, said Laura Lee Blake, AAHOA president and CEO.
“By creating and promoting fair standards, hotel owners can compete in a landscape that has largely been reshaped in recent years by the pandemic and the short-term app-based home rental options. Fair franchising also supports the sustainability of the entire franchise system model long into the future,” Blake said.
“[Marriott’s] stance appears to remain the same even after numerous discussions and offers to work together to draft possible amendments to the New Jersey legislation, and to address the unfair policies and practices that are driving the bill,” Blake said.
Prakash Shah, president of the Fair Franchising Initiative, a hotelier advocacy group founded in 2020 with its roots in New Jersey, said Marriott’s decision to withdraw from AAHOA is indicative of a larger problem.
“As we have known, the hotel franchising model is badly in need of repair. With online travel agencies generating so much of business and taking such a big chunk of revenue away, precious little is left for the franchisees to make ends meet,” Shah said. “Franchisers really need to work with AAHOA and others to evolve a fairer more workable relationship looking towards our mutual benefit and future. It is regrettable that the industry lacks the foresight and forward-looking Leadership at this critical juncture!’
The India connection
Blake also questioned why Marriott was “pushing back” against AAHOA’s efforts in the U.S. while seeking to expand its presence in India, the country of origin for most AAHOA members.
Laura Lee Blake, AAHOA president and CEO, questions why Marriott is pushing back against the association in the U.S. while seeking to expand in India, the country of origin to most AAHOA members.
“Specifically, Marriott has now announced that it is planning to develop an additional 200 hotels by 2025. Marriott’s travel program, Marriott Bonvoy, is also spending a noteworthy sum on marketing by sponsoring the cricket team Mumbai Indians,” Blake said. “This all raises questions as to why Marriott is showcasing such strong financial and marketing support in India, but yet significantly pulling back here in the U.S. where our AAHOA members own more than 50 percent of all Marriott hotels and constitute a large majority of the developers in the pipeline that are ready to build Marriotts in the States. We are surprised that Marriott’s investors have not started asking questions. Only Marriott has the answers. But the incongruency raises concerns as to whether AAHOA hoteliers should continue their own strong support of brands that do not do likewise.”
Support from other brands
Over the past two months, several other companies have met with AAHOA regarding the 12 Points of Fair Franchising and agreed to implement them. They include Red Roof, Best Western Hotels & Resorts and G6 Hospitality. Other companies have not yet done so, and some have faced lawsuits from AAHOA members over their franchising practices.
In 2020, several hotel owners, many of whom were AAHOA members, sued Choice Hotels International. The lawsuit claimed, among other things, that the company engaged in racketeering by colluding with product vendors from which the company receives kickbacks and charged unreasonable fees.
In a statement, Choice said it remained supportive of AAHOA.
“Our franchisees are at the center of everything we do,” the company said. “Choice Hotels is a founding member of AAHOA. We look forward to continuing our dialogue with AAHOA.”
In 2021, several AAHOA members joined a lawsuit against IHG Hotels & Resorts making similar accusations. An IHG spokes person said the company was aware of situation between Marriott and AAHOA but had no further comment at this time.
Patel said AAHOA would continue its operations despite Marriott’s withdrawal, and it still held out hope for a resolution to the impasse.
“We are disappointed that Marriott has decided to take this position. But, AAHOA leadership will continue to maintain and offer open lines of communication to find a resolution that is in the best interests of our members and the hotel industry,” Patel said. “Even without Marriott in attendance at AAHOACON23, we look forward to convening in April to celebrate the great advances we have made, network with each other and our loyal industry partners, and discuss the many pressing issues facing our industry.”
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.
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.
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.
Peachtree secured EB-5 approval for a Florida multifamily development project.
The 240-unit community in Manatee County is backed by $47 million in construction financing.
It is Peachtree’s fourth EB-5 project approval since launching the program in 2023.
PEACHTREE GROUP RECENTLY secured EB-5 approval from U.S. Citizenship and Immigration Services for Madison Bradenton, a 240-unit multifamily development in Bradenton, Florida. It also raised $47 million in construction financing with a four-year term for the project on a 10.7-acre site in Manatee County.
The approval allows the company to advance its EB-5 Immigrant Investor Program, which directs foreign investment to U.S. job creation, Peachtree said in a statement.
“Madison Bradenton reflects the strong demand for high-quality multifamily housing in growing markets,” said Adam Greene, Peachtree’s executive vice president of EB-5. “This project underscores our ability to pair EB-5 financing with secured lending, delivering attractive opportunities for investors while meeting critical housing needs.”
The project will include five four-story apartment buildings with elevators, a two-story carriage building and a clubhouse, with residences averaging 1,027 square feet and featuring private patios or balconies. The location provides access to employment centers, healthcare facilities and Siesta Key Beach.
Atlanta-based Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO and Mitul Patel, principal.
This is Peachtree’s fourth approved I-956F application, following projects such as Home2 Suites by Hilton in Boone, North Carolina; SpringHill Suites by Marriott in Bryce Canyon, Utah and TownePlace Suites by Marriott in Palmdale, California. In May, Peachtree secured USCIS approval for four regional centers—South, Northeast, Midwest and West—allowing it to sponsor EB-5 projects in those territories.
The EB-5 visa program allows foreign investors to obtain a green card by investing in a U.S. commercial enterprise that creates jobs, the statement said. Investors who contribute at least $800,000 to a project that creates or preserves 10 full-time jobs for U.S. workers are eligible for permanent residency.
Separately, Peachtree launched the $250 million Special Situations Fund to invest in hotel and commercial real estate assets affected by capital market illiquidity.