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.
EV HOTEL CORP., the Atlanta-based tech centric “smart hotel” company, is in a “change of control” stock purchase agreement with Plandai Biotechnology, Inc. Plandai will become the parent company to EV Hotel, founded by Ken Patel, for the purposes of going public.
Before closing the agreement, both parties must complete independent financial audits, a third-party valuation of EV Hotel Corp. and the company completing corporate actions with the Secretary of State of Nevada, according to EV Hotel.
Trading regulatory organization FINRA will change Plandai’s name and trading symbol, along with implementing a reverse split of the company's common stock, with management plans at 100:1. Upon closing, Plandai will acquire all of the authorized stock and assets in EV Hotel in exchange for common stock and Patel will acquire all of the company's Series "A" Preferred stock, resulting in a change of control.
“Via our transaction with Plandai, we will achieve public trading status with all the prestige and privileges of being a public company,” Patel said. “Our company focuses on culture and technology for the guest stay experience that resonates with modern travelers. It creates a less task driven system for our employees. Once achieved, our publicly traded status for our common shares will allow us to better access the public markets for growth capital and will increase our global brand awareness. This is all about revolutionizing the hospitality industry and providing a better future for our employees and guests”
EV Hotel developed the "smart hotel," which incorporates technology, including a cryptocurrency trade-floor and non-fungible tokens guest rooms and lobby. Other tech elements include the company’s proprietary EV Smart app that automates hotel operations using a central control point over the guest experience including room controls, concierge and room service.
The EV Smart app provides control over 20 uniquely designed and integrated smart devices for in each guest room. EV Hotel's "IoT Smart Rooms" allows guests to relay requests directly to hotel staff who can then respond in real-time, based on device specific data. The app automatically provides alerts about problems, reducing guest disruptions and out of-service rooms and eliminating the need for preventative maintenance, saving both labor and equipment costs, all while providing energy savings.
“We have been patient to vet and select a merger candidate that we believe will return value to our shareholders. We think the patience and hard work of the Plandai team over the last two years brought the company from its abandonment to a very positive turning point,” Tad Mailander, Plandai CEO. “The company will diligently complete its conditions to closing. We expect the independent audit of the company will be completed this week. EV Hotel is committed to moving forward diligently with its audit. I expect that to be completed as soon as possible. The company will update shareholders only through its authorized press releases."
EV Hotel’s first franchisee is converting a 63-year-old 114-room historical hotel in Phoenix, Arizona. It also recently partnered with Spanish firm CLERHP to construct a luxury resort in the new Larimar City & Resort project in Punta Cana, the Dominican Republic. The 400-room hotel will be built on an area of nearly eight acres, the company said in a statement.
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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