Stonebridge Cos. wins Hilton Award for Denver adaptive reuse property
The award recognizes owners, partners and hotel teams across the Americas
By Vishnu Rageev RJul 06, 2023
NAVIN DIMOND'S STONEBRIDGE Cos. received the Hilton 2022 Americas Development Award for adaptive reuse of The Slate Denver, Tapestry Collection by Hilton in downtown Denver. The awards acknowledge the accomplishments of owners, development partners, and hotel teams in various categories throughout the Americas, Stonebridge said in a statement.
According to the statement, the 251-room Slate Denver in downtown Denver was adapted from the former Emily Griffith Opportunity School building. With modern rooms, a front desk designed as a reproduction file-card cabinet, and the Teachers' Lounge Food + Drink restaurant, the four-story hotel also offers nearly 4,500 square feet of meeting and event space.
"It's an honor to accept this award on behalf of the team," said Dimond, the founder and CEO of Stonebridge. "We are committed to delivering exceptional customer service and creating memorable experiences for our guests, not only at The Slate Denver but also at all our properties. This award is a testament to our dedication to providing unforgettable stays for every guest."
Located near the Colorado Convention Center, The Slate Denver incorporates design features based on the building’s early history as a school. Griffith opened the Opportunity School in 1916 “to provide first and second chances for ‘all who wish to learn,’” according to the school’s website. It was one of the first trade schools in the country, focusing on providing a way out of poverty for its students.
"This recognition reinforces our dedication to delivering an exceptional experience to our guests at The Slate Denver, a truly unique property," said Kirby Kiner, general manager of The Slate Denver.
Fragmented systems, poor integration limit hotels’ data access, according to a survey.
Most hotel professionals use data daily but struggle to access it for revenue and operations.
AI and automation could provide dynamic pricing, personalization and efficiency.
FRAGMENTED SYSTEMS, INACCURATE information and limited integration remain barriers to hotels seeking better data access to improve guest experiences and revenue, according to a newly released survey. Although most hotel professionals use data daily, the survey found 49 percent struggle to access what they need for revenue and operational decisions.
“The Future of Hotel Data” report, published by hospitality data platform Hapi and direct booking platform Revinate, found that 40 percent of hoteliers cite disconnected systems as their biggest obstacle. Nearly one in five said poor data quality prevents personalization, limiting satisfaction, loyalty and upsell opportunities.
“Data is the foundation for every company, but most hotels still struggle to access and connect it effectively,” said Luis Segredo, Hapi’s cofounder and CEO. “This report shows there’s a clear path forward: integrate systems, improve data accuracy and embrace AI to unlock real-time insights. Hotels that can remove these technology barriers will operate more efficiently, drive loyalty, boost revenue and ultimately gain a competitive edge in a tight market.”
AI and automation could transform hospitality through dynamic pricing, real-time personalization and operational efficiency, but require standardized, integrated and reliable data to succeed, the report said.
Around 19 percent of respondents cited communication delays as a major issue, while 18 percent pointed to ineffective marketing, the survey found. About 10 percent reported challenges with enterprise initiatives and 15 percent said they struggled to understand guest needs. Nearly 46 percent identified CRM and loyalty systems as the top priority for data quality improvements, followed by sales and upselling at 17 percent, operations at 10 percent and customer service at 7 percent.
Meanwhile, hotels see opportunities in stronger CRM and loyalty systems, integrated platforms and AI, the report said. Priorities include improving data quality for personalized engagement, using integrated systems for real-time insights, applying AI for offers, marketing and service and leveraging dynamic pricing and automation to boost efficiency, conversion and profitability.
“Clean, connected data is the key to truly understanding the needs of guests, driving amazing marketing campaigns and delivering direct booking revenue,” said Bryson Koehler, Revinate's CEO. “Looking ahead, hotels that transform fragmented data into connected data systems will be able to leverage guest intelligence data and gain a significant advantage. With the right technology, they can personalize every interaction, shift share to direct channels and drive profitability in ways that weren’t possible before. The future belongs to hotels that harness their data to operate smarter, delight guests and grow revenue.”
In June, The State of Distribution 2025 reported a widening gap between technology potential and operational readiness, with many hotel teams still early in using AI and developing training, systems, and workflows.
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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.
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.