AHLA called it a step toward preventing key tax provisions from expiring
The U.S. House, led by Speaker of the House Mike Johnson, narrowly passed a budget blueprint on April 10, paving the way to extend Trump’s 2017 tax cuts after internal GOP dissent caused a delay. Photo by Kayla Bartkowski/Getty Images
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.
THE U.S. HOUSE of Representatives narrowly passed a sweeping budget blueprint on April 10, setting the stage to extend Donald Trump’s 2017 tax cuts after a delay caused by internal dissent. Despite opposition from all Democrats and two Republicans over spending concerns, speaker Mike Johnson pushed it through with a 216 to 214 vote one day behind schedule.
“Congratulations to the House on the passage of a Bill that sets the stage for one of the Greatest and Most Important Signings in the History of our Country,” Trump wrote on Truth Social
The American Hotel and Lodging Association welcomed the budget resolution, which proposes $5 trillion in tax cuts and adds about $5.7 trillion to the federal debt over the next decade.
Rosanna Maietta, AHLA’s president and CEO, praised Speaker Mike Johnson and Senate Majority Leader John Thune for advancing a budget resolution aimed at preventing tax hikes on American workers and small businesses in the hotel and lodging industry.
“This is a critical step to stave off the expiration of important tax provisions and to provide our members, the majority of whom are small business owners, with the level of certainty they need, particularly as many are still recovering from the impacts of the COVID-19 pandemic,” she said. “We look forward to continuing to work with lawmakers to build a brighter future for hotel operators and employees seeking upward mobility and exciting lifelong careers.”
Johnson had initially planned to pass the bill on April 9, but internal GOP objections over insufficient spending cuts forced a delay. With a slim majority, he had little room for defections. Several Republicans have publicly opposed the Senate bill.
Democrats couldn't block the resolution Saturday morning but pushed back by forcing votes on amendments, including protections for Medicare and Medicaid, changes to Trump’s tariffs, and funding for child and elder care.
The final bill, passed by the Senate on April 5, includes at least $4 billion in spending cuts—a sharp drop from the earlier House plan calling for $1.5 trillion.
At its core, the bill extends Trump’s 2017 tax cuts, a centerpiece of his first-term agenda. He has also floated tax breaks on overtime pay, tips, and Social Security income—proposals that analysts warn could push the total cost above $11 trillion.
Beyond tax policy, Republicans plan to use the budget framework to address the looming debt ceiling. With U.S. debt at $36.6 trillion, Congress must act by summer to avoid default.
Meanwhile, Bank of America card data shows U.S. tourism spending is trailing 2023 and 2024 levels—fueled by post-pandemic demand—across lodging, tourism, and airlines.
Peachtree Group originated a loan for Voyage Capital Group to develop the 146-key AC Hotel in Denver.
The financing combines senior debt and C-PACE funding.
Dallas-based Accurate Builders is the general contractor; the hotel is under construction and set to open in late 2026.
PEACHTREE GROUP ORIGINATED a loan for Voyage Capital Group to acquire and build the 146-key, seven-story AC Hotel by Marriott at Denver Gateway Park in Denver, Colorado. The financing combines senior debt and C-PACE funding to support the hotel's development and completion.
“This was a complex project with many moving parts, but we were able to bring it to fruition thanks to the team at Peachtree Group,” said Jai Desai. “Their expertise and commitment were instrumental in getting this deal across the finish line. A special thank you to Michael Harper and Peter Laack—we look forward to many more transactions together.”
Accurate Builders, also based in Dallas, is the project’s general contractor. Construction is underway, with the hotel expected to open in late 2026. Jai Desai also serves as president and CEO of Accurate Builders.
Peachtree completed 22 C-PACE transactions totaling $316.6 million in 2024, bringing its total to more than $1 billion—a milestone few firms reach in structured financing.
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