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.
HOTELIERS HAVE THE opportunity to hear directly from a Congressional leader about the debate over the next round of federal stimulus to counteract the economic impact of COVID-19. Speaker of the House Nancy Pelosi sat down for American Hotel & Lodging Association’s most recent installment of its The Forum: An AHLA Experience webinar series.
Pat Pacious, Choice Hotels International president and CEO, also was a guest on the webinar Wednesday led by Chip Rogers, AHLA’s president and CEO. The trio discussed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which the Democrat controlled House passed in May.
Rogers said the hotel industry is depending on some form of federal aid as the pandemic continues to rage.
“To put it succinctly, we’re still in survival mode, a place where we didn’t expect we’d be just six months ago,” Rogers said.
In January, biggest problem the industry faced was not having enough people to staff hotels, he said. Now, millions of hospitality workers are out of work despite previous stimulus acts that included initiatives such as the Small Business Administration’s Economic Injury Disaster Loans, the Paycheck Protection Program and the Main Street Lending Program.
“Our unemployment rate in our industry is probably over 50 percent,” Rogers said. “Another round of PPP for businesses that have been hit the most would probably be extremely helpful.”
Also, he said how to service debt, from commercial mortgage-backed securities loans and otherwise, is probably what keeps most hoteliers up at night.
Pelosi said since the HEROES Act passed the House three months ago 3 million more people have been added to the list of those in need of the assistance the bill would offer. The only way to open the economy safely, she said, is to attack the virus.
“I’m optimistic that we will reach an agreement,” she said.
The HEROES Act includes an employee retention tax credit that Pelosi said she knows is of interest to hoteliers. It also contains a “second dip” for extending the PPP.
“It’s not there yet, but [Rep. Nydia Margarita Velázquez Serrano] who does our small business piece has been working in a bipartisan way to see how we can get that second bite of the apple,” Pelosi said.
Also hope to have tax credits for healthy workplace initiatives.
“You want the travel tax credit. I don’t know that that would be part of this type of bill,” Pelosi said. “But it’s certainly something that we should be considering.”
Pacious said the pandemic has been the most difficult period of time for Choice’s 13,000 franchisees. All of them, he said, are small business owners who are trying to keep employees on the payroll while also feeding their own families.
“I’m pleased to hear you mention that recapitalizing the PPP loan program is something that both sides appear to be willing to do,” Pacious said. “About 70 percent of our owners have taken advantage of a PPP loan. I know in the future there is talk, which is good, to limit access to that program to those businesses that are really, severely impacted.”
However, Pacious said they are concerned about talk that the program may have a 50 percent economic loss threshold for participation.
“That’s really too high to provide meaningful relief to our small business owners,” he said. “We’d like to see it more in the 25 to 30 percent range. You have to think about our business, it’s an asset heavy business. You have to own a building, and the operating margins are small, so there’s a significant amount of debt that our owners have to deal with and servicing their commercial mortgage is very important to our owners.”
He also supported the possibility that the act would provide forgiveness for loans under $150,000, but the application for the process needs to be simplified to require minimal documentation. Also, destination management organizations, which are not-for-profit agencies that promote travel to specific regions, should be qualified for the PPP program.
Pelosi said Congress also has to ensure that the PPP funds are more equally distributed than previous disbursements to include women and minority-owned businesses.
“There are much smaller businesses, much more diverse ownership of business, that should be participating in this,” Pelosi said. “They fell by the wayside last time because they didn’t have a bank relationship.”
Rogers pointed out the importance of stimulating the overall economy as well.
“When people are fearful of traveling, part of it may be because they don’t want to get sick, but part of it may be because they don’t feel like they’re in an economic position to do so,” Rogers said.
Pelosi said the current discussion over direct payments to individuals and families included in the stimulus acts were part of that process, including some of the $3.4 trillion in the HEROES Act. People are less willing to risk the money they have, she said.
“The money in people’s pockets, whether it’s the $600 direct payment or it’s the help with rent, that’s all stimulus,” she said. “The more people have confidence to spend, the better and sooner our revival.”
In many ways, the hotel industry is discretionary, Pelosi said.
“People decide ‘Do I want to go now, or do I want to go next year?’” she said. “So, we want them to decide, in a discretionary way, to spend. That’s why we want to put money in their pocket, to spend.”
If PPP is a big success, Rogers said, the Main Street program has been a big failure for anyone whose business depends on commercial real estate.
“The formula for accessing funds through the Main Street lending program pretty much precludes anyone who has a significant amount of debt or really any real estate debt,” she said. “I’m not aware of any hotel company or any individual hotel that has been able to gain access to the Main Street Lending Program because of that debt test.”
Pacious also said the Main Street program should be expanded because until now it has been underutilized.
Rogers also pointed out the importance of addressing the debt faced by hotel owners. In the CMBS market, he said, delinquency rates are at 25 percent, 50 percent in New York.
“If some of these properties start falling into foreclosure it does begin to spiral downward and it pulls a lot of people with them,” Rogers said. “Once a hotel goes into foreclosure and closes its doors for good, it’s going to be many, many years before it opens its doors again.”
After Pelosi left the call, Pacious and Rogers wrapped up with a focus on the human impact of the crisis.
“We’re still in the middle of it. A lot of owners make their money in summer and a second wave of virus cases is creating a lot of uncertainty around the back half of the year as well,” Pacious said. “We need to make sure that our hotels have access [to the PPP] and have access to the forgiveness part of that program in a meaningful way to get through this. I think when we write the history of this three or four years from now, there’s going to be a lot of positives around leadership, a lot of positives around people pitching in together to get our industry and our country through this pandemic.”
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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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.
The 2,520-room Rio, now under the Destinations by Hyatt brand, was renovated in 2024 and comprises two hotel towers connected by a casino, restaurants and retail, Peachtree said in a statement.
“This transaction is a milestone for Peachtree Group and a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, Peachtree's managing principal and CEO. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in private credit. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
Atlanta-based Peachtree is led by Friedman; Jatin Desai as managing principal and CFO and Mitul Patel as principal.
The CPACE loan retroactively funded the renovations, allowing the owners to pay down their senior loan, the statement said. The property improvement plan included exterior work, upgrades to the central heating and cooling plant, electrical infrastructure improvements and convention center renovations.
Jared Schlosser, Peachtree’s head of originations and CPACE, said the deal marks an inflection point, with major financial institutions consenting to its use for the benefit of the capital stack.
“By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders,” he said.
The CPACE market has surpassed $10 billion in U.S. originations in just over a decade, according to the C-PACE Alliance, with growth expected as more institutional owners and lenders adopt it.
“We see significant opportunity for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It is an alternative to more expensive forms of capital.”
In June, Peachtree named Schlosser head of originations for all real estate and hotel lending and leader of its CPACE program. Peachtree recently launched a $250 million fund to invest in hotel and commercial real estate assets mispriced by capital market illiquidity.
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.