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.
Mit Shah today is CEO of Atlanta-based Noble Investment Group, a multi-billion dollar company founded in his lifetime of experience growing up in the hotel business. It’s a story he shares with many Indian American hoteliers, but he said it’s a story that bears repeating, a story of the American dream.
Shah retells his story here for Asian Hospitality’s Leadership Series, the first episode for 2024. Along with his family history, he also discussed Noble’s investment practices, the economy in general and lessons learned from hosting interviews with industry leaders for the Bharat Shah Leadership Speaker Series, named after his father, at the Hunter Hotel Conference in Atlanta.
“My parents were immigrants to the United States. In the 1960s they came here for a better life and education. As they were doing that, they had friends that found themselves in this industry and buying small properties throughout the country,” Shah said, adding that his parents bought their first hotel, the Winkler Motor Inn in Winston Salem, North Carolina in 1979. “I was 10 years old at the time, my younger brother was six years old at the time and that was the family business, a very common story that we hear throughout our industry. It's an important story to continue to tell because it's deeply rooted in the American dream.”
Learning early
His youth in the family’s motel meant he spent every Saturday and Sunday cleaning rooms and working the front desk, Shah said. That early experience paid off, however. Right after graduating college in 1991, he was hired by an investment firm that was investing in some of the first round of select service and extended stay hotels.
“They were looking for somebody that had multiple years of hotel operating experience, as well as a business and finance degree background,” Shah said. “I was a 21-year-old kid at the time, and I in fact, had both of those.”
Bharat Shah, Mit Shah’s father, bought his first hotel, the Winkler Motor Inn in Winston Salem, North Carolina in 1979.
Shah also carried those childhood lessons and first job in the industry into his current position with Noble, the company he founded 30 years ago. It was an education that can benefit any business owner.
“I think what I learned there was, how important it was to surround yourself with really good people and how teams really function and how they work and what the real meaning of hard work meant relative to the family,” Shah said.
It also gave him true appreciation for his parents, Shah said.
“It's a beautiful story of the American dream, of my parents who actually took the biggest risk in coming to the United States and then in trusting in me as I started my own journey in this business,” he said.
Maintaining optimism
In January, Noble closed its latest installment of its Noble Hospitality Fund V after securing $1 billion. The fund focuses on value-added investments in select-service and extended-stay hotels across the U.S. and was oversubscribed, attracting $1 billion in equity commitments.
Shah said Noble has invested $2 billion over the last 24 months. Most returns on the fund since it started has been very strong.
“It is an incredible honor for us to be in a mix of investment managers that have that trust as a fiduciary to beneficiaries that are school teachers and, and police officers and healthcare workers and the like and get dollars for kids to go to college and scholarships,” Shah said.
In December, Noble Investment Group finalized Noble Hospitality Fund V at $1 billion, with a 90 percent recommitment from existing limited partners and additional support from new institutional investors, the company said.
The purpose that directs Noble’s investment strategy is “driving performance, creating cash flow, distributing that cash flow, creating value for our platform and our investors,” Shah said.
Shah said he is optimistic about the overall economy as it continues to recover. Demand is back to pre-pandemic levels he said, and lingering concerns about a recession are background noise now.
“I believe that we are in the middle of a soft landing as we speak and so I do believe, in fact that we will continue to come through what feels like a little bit soft landing, but the travel economy continues to operate very differently and behave differently from the general economy,” Shah said. “What most people want to know is, how about next quarter? How about the quarter after that? What do you think about rate cuts? What do you think about the chance of recession? What do you think about all those things? Fundamentally, I believe the long-term demand trends for the business that we are in remain very, very strong, so I'm optimistic.”
Shah also is not worried about the results of November’s presidential election.
“I think election years end up stabilizing, more than destabilizing. We've seen that over time,” he said.
To hear their wonderous stories
At this year’s Hunter Conference, Shah will conduct the 10th annual installment of the Bharat Shah Speaker Series with Leslie Hale, president and CEO of RLJ Lodging Trust. Mit Shah established the series under Georgia State’s Cecil B. Day School of Hospitality in the J. Mack Robinson College of Business.
Noble’s Mit Shah interviews NBA players Vince Carter, middle, and Grant Hill during the Bharat Shah Leadership Speaker Series, named after his father, at the Hunter Hotel Conference in Atlanta.
“We set up this speaker series, really to tell stories of others, icons, lead journeys, where they've had, like all of us, formative upbringings challenges, things that have happened in their life, that they hit a wall that they fell down, somebody had to help pick them up,” Shah said. “And they learn from that and where they went. It's a deeply personal conversation. But it also ties back to this American Dream.”
One thing Shah has learned from conducting the interviews was how some of the subjects, many of whom are “my dearest friends, my heroes, who in certain ways, became heroes in other ways,” Shah said. For example, he learned something about his old friend Arne Sorenson, former president and CEO of Marriott International who passed in 2021 after battling cancer.
“Arne was beloved by so many because he just exuded a voice of incredible purpose in our industry, and he was the kind of husband he had aspired to be to his wife, Ruth, and the father that he aspired to be to his kids,” Shah said.
During his interview, Sorenson spoke about the time he lived with his family in Japan with his family doing mission work. That experience formed his love of people from other places and cultures and how that grounded him.
“When you listen to these stories and you hear how grateful all of these really incredible leaders are for the people that they have in their life, it makes you get up and want to hug the people that you love and call the people that you haven't seen that have made an impact on you,” Shah said. “I think what I have learned over and over and over again is the importance of gratitude, and to never delay it.”
In November, Noble broke ground on the 148-room Tempo by Hilton Savannah Historic District. Noble expects to open the hotel in early 2025.
A bright future
Shah said his optimism applies to the future of Noble as well.
“Our job is to continue to just execute our strategy. We've been very successful in doing so,” he said. “I think we're armed with, in my opinion, the most talented team that exists in our space that has a war chest of capital in which to be very, very thoughtful allocators of those of those dollars. And we're going to continue to have a very, very active year, as we've had over the last two years.”
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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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.
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.