AAHOA backed the bill, though concerns persist among Indians over the remittance tax
AAHOA Chairman Kamalesh “KP” Patel is seen at an event where President Donald Trump spoke in support of the "One, Big, Beautiful Bill Act,' which the U.S. Senate narrowly passed on Tuesday.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
U.S. Senate narrowly passes “One, Big, Beautiful Bill Act.”
AAHOA thanks lawmakers, cites tax certainty and flexibility for small business owners.
Bill faces tougher path in House amid divisions within Trump’s party.
THE U.S. SENATE on Tuesday narrowly passed President Donald Trump’s flagship legislation, the ‘One Big Beautiful Bill Act’ (H.R. 1), which includes tax breaks and spending cuts the administration says will benefit U.S. citizens. AAHOA backed its final passage in both chambers of Congress, although concerns remain about the inclusion of a remittance tax that could impact Indian Americans.
The Senate approved the bill by a narrow margin after closed-door negotiations and pressure from the president, according to theBBC. The legislation now faces a more difficult path in the House of Representatives, where divisions persist within Trump’s party.
Trump pushed for the final version to reach his desk by July 4, calling it a milestone for his administration. Still, he signaled flexibility, telling reporters, “I’d love to do July 4th, but it’s very hard… maybe somewhere around there,” before leaving for Florida.
The bill’s fate remains unclear as it returns to the House, which earlier passed a different version by one vote. House Republicans must now approve the Senate’s amendments, including changes that have drawn opposition from both sides.
AAHOA supports the bill
AAHOA thanked lawmakers for advancing the legislation and noted its potential to offer tax certainty and flexibility for small business owners. The bill’s provisions—including tax relief and reinvestment incentives—reflect the needs of hotel owners focused on business growth and local employment.
"We thank members of Congress who supported this bill in earlier stages and encourage continued support for its final passage," said Kamalesh “KP” Patel, AAHOA chairman. "Hotel owners across the country benefit from policies that support long-term planning and economic stability."
The association said it remains committed to advocating for policies that support entrepreneurship, small business growth and job creation nationwide.
"As small business owners facing complex economic challenges, our members rely on stable, forward-looking tax policy," said Laura Lee Blake, AAHOA president and CEO. "We urge lawmakers to advance this legislation so our members can keep investing in their businesses, employees and the communities that support their livelihoods."
Deadline and proposals
The 50-50 tie was broken by Vice President J.D. Vance, pushing the bill through, the BBC reported. The tie followed Senate Majority Leader John Thune convincing two members who had considered siding with the Democrats, according to AFP.
Trump has set a July 4 deadline for Congress to pass the bill, which includes a $150 billion increase in military spending and funding for his deportation program. It also extends $4.5 trillion in tax cuts from his first term.
The bill proposes up to $1.2 trillion in cuts to the Medicaid program, which could remove health coverage for about 8.6 million low-income and disabled Americans. It also withdraws billions from green energy tax credits, including those for electric vehicles, drawing criticism from environmental groups.
The bill passed after an overnight session, facing opposition from both Democrats and some Republicans, the Associated Press reported.
Republican Senators Thom Tillis of North Carolina, Susan Collins of Maine and Rand Paul of Kentucky opposed the bill.
Democrats and some Republicans in the House concerned about cuts to health care and food aid could oppose it, AFP reported.
Concern about remittance tax
In May, when the Ways and Means Committee advanced the package, a remittance tax in the legislation that could affect overseas Indians who send money or invest in India raised concerns.
The proposed 5 percent tax on all remittances sent outside the U.S. by non-citizens raises concerns among migrant workers, including millions of Indians, India’s Firstpost reported. No minimum exemption is proposed, meaning even small transfers for family support or investments would be taxed.
The bill defines a verified sender as a U.S. citizen or national, so the tax would apply to most visa holders and green card residents.
According to India’s Ministry of External Affairs, about 4.5 million overseas Indians live in the U.S., including 3.2 million persons of Indian origin. If enacted without exemptions, the tax could generate $1.6 billion annually from the Indian diaspora, according to media reports.
If enacted, the remittance tax would take effect immediately, according to media reports. Financial institutions would need to withhold 5 percent at the time of transfer. The tax would apply regardless of the remittance’s amount or purpose, including payments for education, healthcare, or emergency support. This could significantly affect the financial planning of overseas Indians, according to Indian media outlets.
It's unclear if the remittance tax remains in the current version of the bill.
Musk eyes new party
Billionaire Elon Musk, who split with Trump over the legislation, said Monday he would launch a new party if the ‘One Big Beautiful Bill’ passes.
“If this insane spending bill passes, the America Party will be formed the next day,” Musk said in a post on X. “Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.”
Musk also criticized members of Congress who had campaigned to reduce government spending but supported the bill.
“They will lose their primary next year if it is the last thing I do on this Earth,” Musk said.
The bill has drawn criticism from fiscal conservatives in the Republican Party. The House Freedom Caucus warned that the Senate’s version could add $650 billion a year to the national deficit.
“That’s not fiscal responsibility,” the group wrote in a statement. “It’s not what we agreed to.”
Some House Republicans are also concerned that the Senate’s proposed Medicaid cuts go far beyond what they originally endorsed.
Democrats have opposed the bill, criticizing its proposed welfare cuts and accusing Republicans of prioritizing tax breaks over support for the working class. With Trump’s deadline approaching and divisions in Congress, the coming days could determine the bill’s outcome.
IHCL said reports of Taj exiting The Pierre Hotel are incorrect and misleading.
Media reported the Central Park hotel could sell for around $2 billion.
The company holds leasehold rights and continues to operate the New York hotel.
INDIAN HOTELS CO. Ltd. said media reports on Taj exiting its stake in The Pierre Hotel in New York are incorrect, misleading and speculative. In an exchange filing, IHCL stated it does not own The Pierre, but holds leasehold rights and continues to operate the hotel.
NYT reported that the board, advised by Newmark on the Pierre’s revamp, is in final talks to sell the hotel. It said that the Khashoggis, a prominent Saudi family, may provide some financing, while Dorchester, another luxury hotel chain, could manage the renovation. Dorchester is owned by the Sultanate of Brunei.
NYT said Taj defended its management of the building and proposed upgrades that would not require residents to move out.
However, IHCL called the media report speculative.
“IHCL follows the highest standards of governance and disclosure and any material information requiring it to make disclosures under the applicable regulatory requirements will be promptly disseminated by the company to the stock exchanges,” the company said.
In May, Business Line reported that IHCL’s U.S. business has recovered, with The Pierre and Campton Place in San Francisco seeing steady demand. Together, the two hotels have about 300 rooms and contribute around 10 percent of IHCL’s consolidated revenue.
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House introduces AFA to boost franchise model and hotel operations.
The act establishes a joint employer standard.
AHLA backs the bill, urging swift adoption.
THE HOUSE Of Representatives introduced the American Franchise Act, aimed at supporting the U.S. franchising sector, including 36,000 franchised hotels and 3 million workers nationwide. The American Hotel & Lodging Association, backed the bill, urging swift adoption to boost the franchise model and clarify joint employer standards.
The AFA amends the Fair Labor Standards Act and the National Labor Relations Act, which since 2015 have created uncertainty for franchisors and franchisees, AHLA said in a statement.
Rep. Kevin Hern (R-Oklahoma) and Don Davis (D-North Carolina) introduced the AFA.
“Hotel franchising is a pathway to the American Dream for many entrepreneurs,” said Rosanna Maietta, AHLA president and CEO. “It is a proven win-win business model that enables partnerships between franchisees and franchisors. The American Franchise Act codifies a clear joint employer definition and is essential to protecting this framework.”
AFA aims to protect the franchise model, which has long enabled women and minority entrepreneurs to run their own businesses with support from larger brands, the statement said. It will clarify the employment relationship by establishing a joint employer standard that protects workers and preserves franchisee autonomy.
Mitch Patel, AHLA board chair and Vision Hospitality Group CEO, said that as a hotel franchisee, he has seen how the model enabled him and others to achieve the American Dream.
“Throughout my career, my hotel business has employed thousands of people who have built lifelong careers in our industry,” he said. “The American Franchise Act is essential to preserving this foundation. For the benefit of both employers and employees, we strongly encourage the swift passage of this critical legislation.”
"As one of the few franchisees in Congress, I understand how damaging an ever-changing joint-employer rule is to the franchise business model,” said Hern. “I'm pleased that we were able to come together in a bipartisan effort to create legislation that safeguards small businesses and individuals working to achieve the American Dream across the country."
Davis said changes to joint-employer rules have created prolonged uncertainty in the industry.
“The American Franchise Act aims to restore stability by clarifying that franchisors and franchisees operate as independent employers while safeguarding workers through established labor standards,” he said.
Separately, a petition for a referendum on Los Angeles’s “Olympic Wage” ordinance, which sets a $30 minimum wage for hospitality workers by the 2028 Games, fell short of signatures. The ordinance will take effect, raising hotel wages from $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
Noble broke ground on StudioRes Mobile Alabama at McGowin Park.
The 10th StudioRes expands Noble’s long-term accommodations platform.
Noble recently acquired 16 WoodSpring Suites properties through two portfolio transactions.
NOBLE INVESTMENT GROUP broke ground on StudioRes Mobile Alabama at McGowin Park, a retail center in Mobile, Alabama. It is Noble’s 10th property under Marriott International’s extended stay StudioRes brand.
“Noble is institutionalizing one of the most resilient and undersupplied segments at the intersection of hospitality, mobility and how people stay,” said Shah. “We are scaling a branded platform to capture secular demand that creates stable cash flow and long-term value.”
In May, Noble acquired 16 WoodSpring Suites properties through two portfolio transactions, expanding its platform in branded long-term accommodations.
Noah Silverman, Marriott International’s global development officer, U.S. & Canada, said breaking ground on the 10th StudioRes with Noble reflects the brand’s growth and the companies’ three-decade partnership.
“With both companies’ expertise in long-term accommodations, Marriott’s distribution channels, and the power of our nearly 248 million Marriott Bonvoy members, we are confident StudioRes is uniquely positioned to generate customer demand at scale, drive performance and sustain long-term growth,” he said.
Meanwhile, Marriott has more than 50 signed StudioRes projects, about half under construction, the statement said. The first StudioRes opened in Fort Myers, Florida.
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.