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 senior 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.
NISHANT “NEAL” PATEL assumed the chairmanship of AAHOA Friday as the culmination of the association’s 2022 Convention & Trade Show in Baltimore, Maryland. More than 5,000 people attended the show, during which new officers also were elected, certain members were recognized for their service and face-to-face networking came back into style.
This year’s show came with less time after last year's, which was held in August due to delays from the COVID-19 pandemic. That time difference for planning was not as bad as it may seem, said Vinay Patel, outgoing AAHOA chairman, in a press conference before the show.
“We start planning this convention way in advance. So yeah, our gap may be eight months from convention to convention, but this convention probably started literally in June, July or January of last year, so that time frame is still there,” Vinay said. “There are always things, you pivot all the time. Especially in today's world of the pandemic. But, I think at the end of the day, the team has done a phenomenal job in putting everything together.”
Outgoing AAHOA Chairman Vinay Patel said planning for this year’s conference was slightly more challenging because it had been less than a year since the previous conference.
Neal Patel also said the planning for the show wasn’t easy.
“In January when we came here, we weren't certain if we could pull this off. And it wasn't because of our team,” Neal said. “Our team was on it 100 percent. But then it was also the local government and the state of Maryland, where, because of COVID, they were limiting the number of people that can be in one room and so on. And at that time, there was so much uncertainty. But I'm glad everything worked out. I mean, you're here and who would've thought that we have more than 6,000 attendees.”
Appreciating what you have
In the first general session, Neal opened up about his background and family history leading to his involvement in hospitality, starting with their move from Surat, India. It was this background that gave him his appreciation for the services AAHOA provides, he said.
“Nearly two decades ago, my family left everything we've ever known to start a new life in Mississippi. Like a majority of us here, they were in search of the American dream. My parents wanted to create a better life for their children, and leave a legacy that generations to come,” Neal said. “We had humble beginnings. We didn't have a lot of resources as we began the entrepreneurial journey at the time, and we had a lot to learn.”
AAHOA changed that situation for him. Neal became an AAHOA member in 2012 and soon volunteered to serve as an AAHOA ambassador. He joined AAHOA’s board of directors in 2016 after being elected as the young professional director Western Division, a position he held for three years.
“If you ever wondered to what extent AAHOA serves its membership, I am the perfect example,” Neal said. “My parents didn't have the opportunity to have AAHOA as a resource. But thankfully, when I took over the family business, AAHOA was there for me as I navigated the hospitality industry. Nearly 20 years later, I myself am a hotel owner, and soon to be chairman of AAHOA, which was founded two years before I was born.”
Neal lives in Austin, Texas, and is the managing partner of Blue Chip Hotels, which owns and operates multiple branded and independent hotels with more than 1,200 rooms in several states.
“My parents always told me that if you don’t try, you won’t succeed. If you talk too much, you’re not learning,” he said. “As I step into my new role, my focus is on our members and serving them well. Going forward, I will be the facilitator to make things happen.”
Beginning the march toward chairmanship
Also during AAHOACON2022, members elected Kamalesh “KP” Patel of Santa Cruz, California, as the new AAHOA secretary. That begins his march toward the chairmanship as he rotates through the other board positions of treasurer then vice chairman.
Current secretary Miraj Patel will now serve as treasurer and Bharat Patel is now vice chairman.
During AAHOACON2022, members elected Kamalesh “KP” Patel of Santa Cruz, California, as the new AAHOA secretary.
“This industry, we've put way too much into it. Failure is simply not an option,” KP said during the secretary candidates’ debate during the third day of the conference. “I will focus on demanding that each and every brand implement AAHOA’S 12 points of Fair Franchising. Our industry needs an overhaul and that starts now. No more unnecessary mandates that take away from our bottom line just to grow theirs. No more brand expansion, stop making us compete with each other. And no more kickbacks that double and triple costs. It stops today.”
KP is the CEO of Aarav Hospitality and AKS Hospitality.
Also elected to positions on the board of directors were:
Alabama Regional Director: Sanjay Patel
Central Midwest Regional Director: Arti Patel
North Carolina Regional Director: Pinkesh Patel
Northeast Regional Director: Preyas Patel
Northwest Regional Director: Taran Patel
Upper Midwest Regional Director: Kalpesh Joshi
Washington DC Area Regional Director: Deepak Patel
Director at Large Eastern Division: Pinal Patel
Director at Large Western Division: Hitesh Patel
Young Professional Director – Western Division: Tanmay Patel
“I’m thrilled to welcome our new AAHOA secretary and all of our newly elected board members. Over the last 30 years, our volunteer leaders have worked tirelessly to make AAHOA a leading hotel association in the U.S. and advocate for initiatives that help the hospitality industry thrive,” Neal said. “As we continue on this road to recovery, it is encouraging to see so many members rising to the occasion and serving America’s hotel owners.”
From left, Suhani Shah and Christina Turley of As One Management hand out promotional material for Shah’s brothers’ business analytics company x•quic to Bharat Cha Patel, Dinesh Patel and Ashwin Patel on the tradeshow floor of AAHOACON2022. X•quic won the inaugural AAHOA “Tech Pitch Competition: Innovations, Ideas, and Products to Propel Us Forward,” in 2021.
AAHOA Award of Excellence: Vimal Patel, president and CEO of QHotels Management in LaPlace, Louisiana, and AAHOA ambassador for the Gulf Region.
Cecil B. Day Community Service Award: Manhar “MP” Rama, CEO of Sima Hospitality and AAHOA past chairman for 2005 to 2006.
Outreach Award for Philanthropy: Babu Patel with Trustmark Park Hospitality
Outstanding Young Professional Hoteliers of the Year Award: Armaan Patel with AGA Hotels and Taran Patel, managing principal with A1 Hospitality Group and AAHOA ambassador for the Northwest Region.
“This year’s AAHOA award recipients are movers and shakers in their communities and have gone above and beyond to enhance the hotel guest experience,” Vinay Patel said. “The hospitality industry has changed over the years, especially throughout the pandemic. Despite that, these individuals have been forward-thinking and proactive in their contributions to hospitality. Congratulations to every award recipient; your commitment to excellence is what sets you apart from the rest.”
More than 70 percent expect a RevPAR increase in Q4, according to HAMA survey.
Demand is the top concern, cited by 77.8 percent, up from 65 percent in spring.
Only 37 percent expect a U.S. recession in 2025, down from 49 percent earlier in the year.
MORE THAN 70 PERCENT of respondents to a Hospitality Asset Managers Association survey expect a 1 to 3 percent RevPAR increase in the fourth quarter. Demand is the top concern, cited by 77.8 percent of respondents, up from 65 percent in the spring survey.
HAMA’s “Fall 2025 Industry Outlook Survey” found that two-thirds of respondents are pursuing acquisitions, 80 percent plan renovations in the coming year and 57 percent are making or planning changes to brand affiliation or management strategies.
“With hopes high for a stronger fourth quarter, hotel asset managers continue to maintain an optimistic outlook,” said Chad Sorensen, HAMA president. “More than 70 percent of our members expect RevPAR to increase 1 to 3 percent and two-thirds are pursuing acquisitions. With 80 percent planning renovations in the coming year, we see an engaged community focused on performance.”
Conducted among 81 HAMA members, about one-third of the association, the survey reports expectations for revenue growth, property investments and acquisitions.
However, the top three most concerning issues were demand, ADR growth and tariffs, HAMA said.
RevPAR growth forecast
Looking into 2026, 72.8 percent expect 1 to 3 percent growth, 18.5 percent expect 4 to 6 percent, 7.4 percent anticipate flat results and 1.2 percent project a decline. Full-year RevPAR projections versus budget are more mixed: 49 percent expect 1 to 3 percent growth, 17 percent expect flat results, 12 percent expect 4 to 6 percent growth, 2 percent expect 7 percent or more and 19 percent expect declines.
Hotel asset managers note several market pressures, the report said. Other concerns include ADR growth at 51.9 percent, tariffs at 34.6 percent, wage increases at 33.3 percent and potential Federal Reserve rate changes at 32.1 percent. Management company performance at 25.9 percent, immigration and labor trends, union activity and insurance costs were also mentioned.
“The industry is at its highest level of concern around maintaining or increasing rates,” Sorensen said. “There’s pressure to build on the P&L going into 2026.”
Performance projections
Confidence in the broader economy has increased since spring, the survey found. Only 37 percent of respondents expect a U.S. recession in 2025, down from 49 percent earlier in the year.
When asked about properties exceeding gross operating profit forecasts, 59 percent of managers expect 0 to 25 percent of their hotels to surpass targets, 25 percent expect 26 to 50 percent, 10 percent expect 51 to 75 percent and 6 percent expect 76 to 100 percent. Additionally, 20 percent reported returning hotels to lenders or entering forced sales since the spring survey.
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Hersha Hotels & Resorts sold The Boxer Boston to Eurostars Hotels.
The company acquired the property in 2012 for $12.6 million.
The property now sold for $23.6 million.
HERSHA HOTELS & RESORTS sold The Boxer Boston, an 80-room hotel in Boston’s West End, to Eurostars Hotels, part of Spain’s Grupo Hotusa. The company, which reportedly acquired the property in 2012 for $12.6 million, received $23.6 million for it.
The seven-story hotel, built in 1904, is near TD Garden, the Charles River Esplanade, One Congress, North Station and Massachusetts General Hospital, said JLL Hotels & Hospitality, which brokered the sale. It also has a fitness center.
Hersha Hotels & Resorts is part of the Hersha Group, founded in 1984 by Hasu Shah. Jay Shah serves as senior advisor and his brother Neil Shah is president and CEO.
JLL Managing Director Alan Suzuki, Senior Director Matthew Enright and Associate Emily Zhang represented the seller.
"The Boxer’s prime location at the crossroads of Boston's West End, North End and Downtown districts, combined with its strong cash flow and its unencumbered status regarding brand and management, made this an exceptionally attractive investment," said Suzuki. "Boston continues to demonstrate resilient lodging fundamentals driven by its diverse demand generators, including world-class educational institutions, medical facilities, corporate presence and convention and leisure attractions."
The property will become the Spanish hotel chain Eurostars’ fifth U.S. hotel, supporting the group’s North American expansion, the statement said.
Amancio López Seijas, president of Grupo Hotusa and Eurostars Hotels Co., said the addition of Eurostars’ The Boxer strengthens the company’s presence in key locations and promotes urban tourism.
Peachtree recognized by Inc. and the Atlanta Business Chronicle.
Named to the 2025 Inc. 5000 list for the third year.
Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing companies.
PEACHTREE GROUP ENTERED the 2025 Inc. 5000 list for the third consecutive year. The company also won the Atlanta Business Chronicle Pacesetter Awards as one of the city’s fastest-growing private companies.
The Inc. 5000 list provides a data-driven look at independent businesses with sustained success nationwide, while the Business Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing privately held companies, Peachtree said in a statement.
“We are in the business of identifying and capitalizing on mispriced risk, and in today’s environment of disruption and dislocation, that has created strong tailwinds for our growth,” said Greg Friedman, managing principal and CEO. “These recognitions validate our ability to execute in complex markets, and we see significant opportunity ahead as we continue to scale our platform.”
The Atlanta-based investment firm, led by Friedman; Jatin Desai, managing principal and CFO and Mitul Patel, principal, oversees a diversified portfolio of more than $8 billion.
A PETITION FOR a referendum on Los Angeles’s proposed “Olympic Wage” ordinance, requiring a $30 minimum wage for hospitality workers by the 2028 Olympic Games, lacked sufficient signatures, according to the Los Angeles County Registrar. The ordinance will take effect, raising hotel worker wages from the current $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
Mandatory health care benefits payments will also begin in 2026.
The L.A. Alliance for Tourism, Jobs and Progress sought a referendum to repeal the ordinance, approved by the city council four months ago. The petition needed about 93,000 signatures but fell short by about 9,000, according to Interim City Clerk Petty Santos.
The council approved the minimum wage increase for tourism workers in May 2023, despite opposition from business leaders citing a decline in international travel. The ordinance requires hotels with more than 60 rooms and businesses at Los Angeles International Airport to pay workers $30 an hour by 2028. It passed on a 12 to 3 vote, with Councilmembers John Lee, Traci Park and Monica Rodriguez opposed.
The L.A. Alliance submitted more than 140,000 signatures in June opposing the tourism wage ordinance, triggering a June 2026 repeal vote supported by airlines, hotels and concession businesses.
AAHOA called the ruling a setback for Los Angeles hotel owners, who will bear the costs of the mandate.
"This ruling is a major setback for Los Angeles' small business hotel owners, who will shoulder the burden of this mandate," said Kamalesh “KP” Patel, AAHOA chairman. "Instead of working with industry leaders, the city moved forward with a policy that ignores economic realities and jeopardizes the jobs and businesses that keep this city's hospitality sector operating and supporting economic growth. Family-owned hotels now face choices—cutting staff, halting hiring, or raising rates—just as Los Angeles prepares to host millions of visitors for the World Cup and 2028 Olympics. You can't build a city by breaking the backs of the small businesses that make it run."
Laura Lee Blake, AAHOA president and CEO, said members are proud to create jobs in their communities, but the ordinance imposes costs that will affect the entire city.
“Even with a delayed rollout, the mandate represents a 70 percent wage increase above California's 2025 minimum wage,” she said. “This approach could remove more than $114 million each year from hotels, funds that could instead be invested in keeping workers employed and ensuring Los Angeles remains a competitive destination. The mandate increases the risk of closures, layoffs and a weaker Los Angeles."
A recent report from the American Hotel & Lodging Association found Los Angeles is still dealing with the effects of the pandemic and recent wildfires. International visitation remains below 2019 levels, more than in any other major U.S. city.
India-based TBO will acquire U.S. wholesaler Classic Vacations for up to $125 million.
The deal combines TBO’s distribution platform with Classic’s advisor network.
Classic will remain independent while integrating TBO’s global inventory and digital tools.
TRAVEL BOUTIQUE ONLINE, an Indian travel distribution platform, will acquire U.S. travel wholesaler Classic Vacations LLC from Phoenix-based The Najafi Cos., entering the North American market. The deal is valued at up to $125 million.
Gurugram-based TBO is led by co-founders and joint MDs Gaurav Bhatnagar and Ankush Nijhawan.
“We’re thrilled to bring Classic Vacations into the TBO family – the company’s longstanding delivery of services has earned the trust of more than 10,000 travel advisors in the U.S. and their end customers, making Classic Vacations a seamless fit for our vision in the travel and tourism industry,” said Bhatnagar. “Classic Vacations is led by a strong team and will continue as an independent brand while leveraging TBO’s technology and distribution capabilities to grow its business.”
Classic Vacations reported revenues of $111 million and an operating EBITDA of $11.2 million for the financial year ending Dec. 31, 2024, the companies said in a joint statement. The company has a network of more than 10,000 travel advisors and suppliers.
The acquisition combines TBO’s distribution platform with Classic’s advisor network to strengthen their position in the outbound market, the statement said. Classic will continue as an independent brand while integrating TBO’s global inventory and digital tools.
Nijhawan said the acquisition furthers TBO’s investment in organic and inorganic growth.
“As we begin integrating Classic Vacations with TBO, we will remain open to similar strategic alliances going forward,” he said.
Classic Vacations was acquired from Expedia Group by The Najafi Cos. in 2021.
“This acquisition and partnership are a natural next step for our portfolio company Classic Vacations, and we’re happy to have worked successfully with them for the last four years, maximising the company’s strengths and expertise in luxury travel,” said Jahm Najafi, founder and CEO, The Najafi Companies.
Moelis & Co. LLC was the financial adviser and Ballard Spahr LLP the legal adviser to Classic Vacations. Cooley LLP served as legal adviser and PwC as financial and tax adviser to TBO.