He led Peachtree’s platform through rising rates, tighter capital and falling valuations
Greg Friedman, Peachtree Group’s managing principal and CEO, was named to the 2025 GlobeSt. Rainmakers in CRE Debt, Equity & Finance list and Commercial Observer’s Power Finance list.
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.
Greg Friedman and Peachtree Shine in 2025 CRE Finance Rankings
Greg Friedman, Peachtree Group's managing principal and CEO, is among the honorees on the 2025 GlobeSt. Rainmakers in CRE Debt, Equity & Finance and Commercial Observer’s Power Finance lists.
The Rainmakers recognize Friedman’s role during a challenging period in commercial real estate finance, while Power Finance affirms his influence and adaptability. He has led Peachtree's vertically integrated management platforms amid elevated interest rates, tightening capital markets and declining valuations, Peachtree said in a statement.
“These recognitions are a testament to Greg’s vision and our entire team’s commitment to being a steady force in an unpredictable market,” Jatin Desai, Peachtree's managing principal and CFO. “Our strategy has always centered on disciplined investing, innovation, and building strong relationships. Greg has set the tone.”
The Atlanta-based firm is led by Friedman, Desai and Principal Mitul Patel.
Peachtree remained a consistent partner under Friedman’s leadership, the statement said. His strategy has helped stakeholders unlock value, access liquidity and respond to market dislocation. As lenders pulled back and transactions slowed, Peachtree continued to deliver capital solutions—originating loans, forming strategic partnerships, and operating across the capital stack.
The company has executed more than $12 billion in commercial real estate transactions since inception. Its integrated platform combines real estate, credit, and capital markets expertise, enabling the firm to identify opportunities, deploy capital efficiently and manage risk across cycles.
It recently launched the 114-key Residence Inn Ocean Township on the Jersey Shore, its eighth DST offering since 2022.
Ranju Alex, Marriott International’s South Asia VP, received the Bharat Gaurav Award 2025.
The award, by the Bharat Gaurav Award Foundation, honors outstanding achievements by Indian nationals.
She joins past recipients including Sri Sri Ravi Shankar, Indra Nooyi and Gaur Gopal Das.
Ranju Alex, regional vice president for South Asia at Marriott International, received the Bharat Gaurav Award 2025 at the British House of Commons in London. The award recognizes her work in advancing diversity, inclusion and gender equity in the Indian workplace.
The Bharat Gaurav Awards serve as a platform to recognize and celebrate the achievements of Indian nationals who have left an indelible mark on their respective fields, according to the award’s website.
Alex has more than 30 years of industry experience and leads Marriott’s South Asia expansion, said the organisers, Bharat Gaurav Award Foundation. She launched Project Pranita, an initiative to increase women’s representation in leadership through mentorship and upskilling. She has also led employee-driven programs to promote cultural diversity and integrate persons with disabilities into Marriott’s workforce.
“This is not just a personal milestone but a celebration of our collective commitment at Marriott to build workplaces where everyone belongs,” Alex said while accepting the award.
Alex joins past Bharat Gaurav Award recipients including Sri Sri Ravi Shankar, Indra Nooyi and Gaur Gopal Das. In a separate LinkedIn post, Alex said being recognized on a global platform that has honoured Indra Nooyi, Sri Sri Ravi Shankar, and Gaur Gopal Das is humbling and a moment she will always value.
“This recognition is not just mine; it belongs to every team I’ve worked with, every mentor who believed in me, and every challenge that taught me resilience and grace,” she wrote. “As someone who has always believed in the power of purposeful leadership, it’s heartening to know that the work we do across borders, across cultures, can resonate beyond corporate corridors. This recognition is a tribute to the incredible people and places that have shaped me.”
Ventive Hospitality, a unit of Pune-based Panchshil Realty, recently entered into management contracts with Marriott International for seven hotels totaling 1,548 rooms across India and Sri Lanka, all set to open in 2030.
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Sanovnik Destang, CHTA president, won the Outstanding Hotelier Award from AAHOA and NABHOOD.
The award will be presented July 23 at the Hilton Awards Luncheon during the 29th Annual African American Hotel Ownership & Investment Summit.
Destang is executive director and shareholder of Bay Gardens Resorts in Saint Lucia, founded in 1995 by his mother, Joyce Destang.
Sanovnik Destang, president of the Caribbean Hotel and Tourism Association, won the Outstanding Hotelier Award from AAHOA and the National Association of Black Hotel Owners, Operators & Developers. This is the first time a Caribbean hotelier will receive the award.
It will be presented on July 23 during the Hilton Awards Luncheon at the 29th Annual International African American Hotel Ownership & Investment Summit & Trade Show.
“Thank you all once again for putting your faith in me and my generation,” Destang said. “Being CHTA’s first president born in the 1980s, I fully understand the responsibility ahead of me. I’m ready to lead, but more importantly, I’m ready to serve. My focus areas will be people, technology and building stronger connections across our economies and communities.”
The award recognizes hospitality leaders for leadership, innovation and commitment to community empowerment and industry opportunity, CHTA said. Recipients demonstrate vision, dedication and the ability to improve hotel performance and community impact.
In 2024, Destang was appointed CHTA president. He entered the Caribbean hospitality sector in 2012 and now focuses on workforce development, technology adoption and cross-sector linkages, according to the association. He is also executive director and shareholder of Bay Gardens Resorts in Saint Lucia, founded in 1995 by his mother, Joyce Destang.
Bay Gardens operates four hotels, with a fifth under construction and scheduled to open in winter 2026. A Chartered Accountant and Chartered Financial Analyst, he has led the company’s growth.
In May, Greg Friedman, managing principal and CEO of Peachtree Group, was named to the 2025 GlobeSt. Rainmakers in CRE Debt, Equity & Finance list and Commercial Observer’s Power Finance list.
Mark Hoplamazian, president and CEO of Hyatt Hotels Corp., received the Cornell Hospitality Icon of the Industry Award on June 3 in New York, recognizing his 18 years of leadership. The company also renewed its RiseHY commitment to hire 5,000 additional opportunity youth across the company and its hotels by the end of 2028.
The program provides employment access for individuals disconnected from the economy and supports their workforce participation through ongoing investment, Hyatt said in a statement.
“We are committed to bringing people who are disconnected from the economy into the workforce. Talent is evenly distributed, but opportunity is not,” said Hoplamazian while receiving the award. “We view RiseHY as the ultimate expression of our purpose of care and believe supporting untapped talent will have a lasting impact on our industry and communities. This is where hospitality meets humanity.”
In January 2024, Shatterproof, a national nonprofit addressing the U.S. addiction crisis, recognized Hoplamazian at its seventh Hospitality Heroes Reception in Los Angeles during the Americas Lodging Investment Summit for mobilizing hospitality leaders to raise awareness and reduce addiction stigma.
Talent pipeline
Hyatt has more than 1,450 hotels and all-inclusive properties in 79 countries and a pipeline of about 138,000 rooms, providing pathways to careers, the statement said. Through RiseHY, the company is building a talent pipeline for Opportunity Youth, individuals aged 16 to 24 from under-resourced communities who are not working or in school. The program connects them with jobs at Hyatt hotels worldwide, offering a path into the workforce.
The hospitality industry allows individuals to enter with little experience and build careers with opportunities for advancement. The renewed goal builds on Hyatt’s prior commitment to hire 10,000 young people by 2025, a target it continues to pursue. The program also supports industry hiring needs by developing a long-term talent pipeline.
Employees at Hyatt hotels worldwide advance into leadership roles and remain with the company, the statement said.
“My mentors and my colleagues always believed in my potential and encouraged me,” said Yemsijongla Chang, housekeeping team leader at Hyatt Hyderabad Gachibowli and RiseHY participant. “I was promoted to team leader in housekeeping and my role now is to inspire and empower my team. My Hyatt journey is far from over and to anyone who starts in hospitality, my advice is simple – believe in yourself, work hard and never stop learning. Opportunities are endless if you are willing to take them.”
In July 2024, Hyatt India launched the Vocational Education and Training Swiss Professional Diploma program at its properties, including Hyatt Regency Delhi, Andaz Delhi, Grand Hyatt Gurgaon and Hyatt Regency Lucknow. The company announced plans to open six hotels in India and one in Nepal in 2025, following 21 signings in India and Southwest Asia in 2024, focusing on lifestyle brands JdV, Andaz and Standard Hotels.
Penn State & BU Take Top Honors in HAMA’s 2024 Case Competition
THE HOSPITALITY ASSET Managers Association named Penn State’s undergraduate team and Boston University’s graduate team as winners of its 19th Annual Student Case Competition. The winning teams each received $5,000 and an all-expense-paid trip to HAMA’s Spring Conference to network with leading hotel asset managers.
The teams were chosen from a field that included students from the University of Denver, Cornell University, Florida International University and the University of Texas Rio Grande Valley, HAMA said in a statement.
“It amazes me that 19 years into the HAMA Student Competition, the entire committee continues to be impressed with the fresh ideas and perspectives presented by the next generation of hotel asset managers every single time,” said Adam Tegge, HAMA education committee chair. “Their entry into the world of hospitality asset management portends a bright future for our industry. We look forward to hosting them in Boston during our Spring Conference.”
The winning teams consisted of:
Boston University (Graduate)
Rishabh Sharma – Master’s degree in Hospitality Real Estate
Eva “Jinyi” Li – Master’s degree in Hospitality Management
Albina Zhangirova – Master’s degree in Hospitality
Penn State University (Undergraduate)
Logan Prendergast – Bachelor’s degree in Hospitality Management
Andrew Heiland – Bachelor’s degree in Hospitality Management
Students were presented with a case study featuring a fictitious, underperforming hotel in Boston, the statement said. Their task was to recommend a “survival action plan” to restore profitability or face a sale. They could choose from four options: adding a conference center, a health facility, redesigning F&B outlets, or proposing their own solution. With guidance from 10 HAMA members and university professors, participants developed a board presentation outlining their recommendation, supporting narrative, and business case analysis.
Penn State’s winning plan included a full renovation of all F&B outlets and a new meeting facility. Boston University’s strategy focused on including a rooftop bar, relocating the restaurant, closing the cocktail lounge and converting the coffee shop into a fitness area.
"The HAMA Competition provided a great platform for us to share our vision toward a case that could have easily been a real-life hotel; it made us think through different scenarios and offered a steep learning curve,” said BU’s Rishabh Sharma. “Speaking to industry professionals and getting mentored by an excellent asset manager was really helpful throughout the process.”
Penn State students were advised by John O’Neill, professor and director of the university’s Hospitality Real Estate Strategy Group, while Boston University students were guided by Kaushik Vardharajan, associate professor and director of BU’s hospitality real estate program.
“Through this competition, I gained deeper insight into asset optimization, financial performance analysis and the complexities of hotel investments,” said Penn State’s Andrew Heiland. “This experience has reinforced my passion for real estate and asset management within the hospitality industry, and I look forward to further developing my expertise in this field.”
In its Fall 2024 Industry Outlook Survey, HAMA found that demand, wage growth, and ADR increases remain top concerns, with 82 percent not expecting a recession in 2025 and 58 percent planning brand or management changes as a strategy.
CLIC 2025 Hotel Development Award: Red Roof & Fairmont Recognized for Excellence
The 73-room Red Roof Inn—Hometown Studios by Red Roof Ridgecrest and the 50-room Fairmont Breakers Long Beach in California won the Lodging Econometrics/California Lodging Investment Conference 2025 Hotel Developments of the Year Award. The hotels were recognized in the select-service/extended-stay and luxury hotel categories, respectively.
Craig Sullivan, CLIC’s founder and president, and Bruce Ford, LE’s senior vice president and director of global business development, will present the awards during the opening session of the conference on March 5 to 6 at the Westin Long Beach, CLIC and LE said in a joint statement.
For Red Roof properties, the brand collaborated with an established franchisee to repurpose an aging asset, bringing two new hotel products to a growing market.
“The Red Roof and HomeTowne Studios represent a welcomed reimagination of the property,” Ford said. “We often see these succeed and become a win-win for both the brand and ownership.”
The nearly 100-year-old Fairmont Breakers Long Beach was completely renovated and updated, the statement said. The building began as a hotel before converting to assisted living. New owners saw unrealized value in the asset and location and reconverted it into a hotel.
“The Fairmont Breakers Hotel has been restored to its former glory after exiting the industry about 40 years ago,” Ford said. “This is a one-of-a-kind development!”
Meanwhile, CLIC is offering a final discounted registration of $650 through March 4, while on-site registration is $750.