Skip to content

Search

Latest Stories

Maya Hotels marks 25th anniversary of first ground-up hotel

The 25-year-old hotel had a $15 million economic impact through jobs, taxes and tourism

Maya Hotels marks 25th anniversary of first ground-up hotel

MAYA HOTELS RECENTLY celebrated the 25th anniversary of its first ground-up hotel, Holiday Inn Express & Suites Belmont in Belmont, North Carolina. The event marked the hotel's evolution from a 65-room establishment in 1999 to a modern 92-key hotel, while showcasing original site plans, franchise approval letters, snapshots from the 1999 grand opening and earned awards over the years.

IHG Hotels & Resorts representative Jason Miller, local government officials, along with associates, community members, vendors and investors attended the event.


“We came to the United States with nothing, but we knew one thing – this is the land of opportunity,” said Baldev Thakor, Maya Hotels’ cofounder.

“We knew we wanted to build a Holiday Inn Express in this community and we knew there were many guests not being served,” J.D. Deva, Maya Hotels cofounder, said. “Here we are, 25 years later, and it has been a remarkable journey."

The event came after a leadership transition, with founders Thakor and Deva passing the torch to Parimal Thakor as president and Krishna Deva as CEO.

“This hotel has been the launching pad for every hotel that has come after it within Maya Hotels,” said Parimal Thakor.

“We look forward to building upon this foundation, collaborating with our incredible teams, and continuing to deliver exceptional hospitality experiences,” Krishna Deva said.

Community engagement

The hotel has been engaged in community initiatives in Belmont and nearby Mt. Holly, North Carolina, for the past 25 years, Maya Hotels said in a statement. It sponsors local teams and events and partners with organizations such as Habitat for Humanity, the USO, Sisters of Mercy, the YMCA, and Paws for Claws Belmont. Additionally, it has contributed a $15 million economic impact through job creation, taxes, and tourism.

"We are very appreciative of this hotel and the community involvement that you’ve had over the years," said David Moore, Mt. Holly mayor. "In 2018, when Hurricane Florence came through, you partnered with Holy Angels to house those impacted. That’s looking after each other. And that’s what it’s all about, lifting each other up. I think that’s what this family has done since the day they got here. We’re really appreciative of that.”

“It’s an incredible achievement,” said IHG’s Miller. “When you think about it, it’s over a quarter of a century of welcoming over half a million guests who have enjoyed your amenities and great customer service. What makes this hotel and company special is your team that creates memorable experiences for all those guests. Maya Hotels gets it. Everyone is incredibly engaged in always making it better for our guests. And that’s what makes a great company. Congratulations on 25 years!”

Maya Hotels, headquartered in Charlotte, North Carolina, was established in 1995. Its portfolio includes 10 properties with over 1,000 guest rooms across North Carolina and South Carolina, affiliated with brands like Hilton, IHG and Marriott.

More for you

Trump reviewing 55 million us visas
Getty Images

Trump reviewing 55 million visas

Summary:

  • 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.

Keep ReadingShow less
Peachtree Funds Rio Las Vegas Renovations | $176M CPACE Loan
Photo credit: Hyatt Hotels Corp.

Peachtree originates retroactive CPACE loan for Rio Vegas

Summary:

  • 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.

Keep ReadingShow less
Spark Acquires Home2 Suites Wayne, New Jersey
Photo Credit: Hunter Hotels

Spark acquires Wayne, N.J., Home2 Suites

Summary:

  • 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.

Keep ReadingShow less
Global hotel construction pipeline reaches record 15,871 projects in Q2 2025, with U.S. and Dallas leading growth
Photo Credit: iStock

Report: Global pipeline hits 15,871 projects

Summary:

  • 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.

Keep ReadingShow less
HAMA Launches 20th Student Case Competition in USA
Photo Credit: iStock

HAMA launches 20th student case competition

Summary:

  • 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.

Keep ReadingShow less