THE U.S. TRAVEL ASSOCIATION wants the federal government to replace pandemic-era restrictions with endemic-focused policies to enable full and free travel. That was one of several subjects Roger Dow, USTA’s outgoing president and CEO, discussed at the Hunter Hotel Conference in Atlanta in March.
In a letter to incoming White House COVID-19 Response Coordinator Ashish Jha, USTA asked to immediately remove the pre-departure testing requirement for all fully vaccinated inbound international arrivals.
"Despite declining hospitalizations and infections, increased vaccination rates and immunity, and a more robust public health infrastructure to manage the virus, the vast majority of pandemic-driven federal travel policies are still in place,” the letter said. “While the public health benefits of these policies have now greatly diminished, the economic consequences continue to grow,"
The association recommended repealing the federal mask mandate for public transportation by April 18. Dow spelled out why in his keynote address at Hunter, saying the government has postponed the decision long enough.
“They kicked the can down the road a month. They were supposed to take a look at masks on March 18, they kicked it down the road to April 18,” Dow said. “I'm hopeful we'll see some action. We've asked to get the masks off. If you look at airlines, they had 6000 passenger incidents last year, they usually have about 200, where they take a passenger off the plane.”
Dow also said the U.S. needs to take other steps to encourage international travel.
“Number one, we have got to get rid of the pre-departure testing,” he said. “In other words, if you're from the U.S., you've got to 24 hours before you get on that plane get a negative test for COVID. Well, that's inhibiting travel like crazy, because people are saying, I'm on a Friday, I get my test, and I'm flying on Saturday, if I test positive, am I going to lose my flight, and I could lose my hotel reservation, all that. So, it's a major inhibitor.”
Dow said other countries, such as the United Kingdom, Greece and the European Union have eliminated the tests. Despite seeing around 600 million people flying on planes last year, he said there have been no incidences of COVID from someone being on a plane.
“You're a lot safer being on a plane than you're at the grocery store,” he said.
Other suggestions from USTA to restore travel include ending “avoid travel” advisories and the use of travel bans, work with other countries to normalize travel conditions and entry requirements and send a clear message to the American public and the world that it is safe to travel again, particularly for vaccinated individuals.
Recommendations from the Centers for Disease Control and Prevention has been “schizophrenic.”
“You never know where they're going. But the bottom line, we've got to get them to stop saying there's a travel ban, that it's not safe to travel,” Dow said. “We're pushing very hard on that.”
On other matters
Dow, who plans to step down from his position at USTA in July, told his audience at Hunter the travel and hotel business is recovering from the pandemic.
“We're probably standing about 78 percent of 2019 levels, but very uneven. Where's that all coming from? Leisure. Domestic leisure is as strong as can be. Unbelievable, if you own hotels and resort areas, beach areas, outdoor mountain areas you're doing phenomenally well. ADR’s through the roof,” Dow said. “It's amazing, but sluggish. As we all know, as business travel is probably 44 percent of 2019 levels and we have two or three enemies when it comes to business travel. One is the corporate CFO, the corporate CFO is saying their corporate table, ‘Hey, look, the last two years we've had no one traveling and look at the money we've made, look at our profits, do we really need all those people traveling?”
Inflation is another “enemy” of the industry, he said. For hotels to face that challenge, Dow said, they will need help from the large hotel brands as well as the government, with changes to brand standards regarding equipment and furniture purchases.
“When you look at where inflation is going, it's also bringing with it the difficulty that so many of you have as developers of getting products, getting approvals,” Dow said. “The cost of a new build right now going up with all these challenges, gas and energy, looking at what the fuel bills, what the costs are going to be are a huge challenge with us. And now, of course, is the disaster in Ukraine with Russia. We just did some research and 63 percent are saying that the gas prices are going to have them changing the way they're going to travel.”
The industry has had some wins over the past year, Dow said, including an extra $250 million in funding for Brand USA, a destination marketing organization that promotes travel to the U.S., in the $1.5 trillion federal spending bill passed in March. USTA also is optimistic about the inclusion in the bipartisan infrastructure spending bill of $5 billion available to states over the next five years to help build out their electric vehicle charging networks.
“We’ve really been kicking the can down the road, talking and talking about it, now we're finally going to do something about it,” Dow said. “It’s really interesting, watching this electric vehicle trend and what that's going to mean to a property with charging stations or a property with a charging station on the highway and how it's going to work out.”
The path forward
USTA in its letter to Jha also urged to develop benchmarks and timelines for a pathway to the new normal by June 1. It suggested implementing effective, risk-based policies at any time if new variants of concern emerge or the public health situation deteriorates.
According to USTA, business travel spending in 2021 was down 56 percent when compared to two years ago and international travel spending was 78 percent below 2019 levels. However, Dow remained optimistic.
“We're going to see it come back. I see travel as a coiled spring. I see we push this thing so tight, that people want to get out and leisure is showing that I mean, what people are spending on leisure travel and what they're doing, they're just getting out like crazy. And same thing’s going to come back with business travel.”
Dow pointed to a recent survey in which 90 percent of Americans said they plan on traveling over the next six months.
“America is ready to move and move for business, so I see it coming back very strong,” he said. “And I think together we're going to write the next chapter of this industry.”
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.